New York, USA, Sept. 06, 2021 (GLOBE NEWSWIRE) -- A new report on the global fetal bovine serum market has been added by Research Dive to its repository. As per the report, the market is expected to garner $1,568,586.4 thousand by 2028, growing at a CAGR of 6.4% from 2021 to 2028. This report provides thorough insights into the present condition and future outlook of the global industry. The report is drafted by professional market analysts and assures to be a reliable source of data and detailed market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth
Growing research and development activities related to cell culture in the scientific sectors such as biopharmaceuticals & biotechnology is boosting the growth of the global fetal bovine serum market. Furthermore, medicines and vaccines developed in animal hosts have numerous benefits, such as inexpensive procedure. This factor is projected to give rise to profitable opportunities for the market growth during the forecast period. However, growing availability of substitutes for fetal bovine serum is expected to hinder the market growth.
COVID-19 Pandemic Impact on the Market
The abrupt rise of the COVID-19 pandemic has significantly impacted the growth of the global fetal bovine serum industry. The pandemic has surged the need for fetal bovine serums mainly in the biotechnological and biopharmaceutical centers that are keenly focusing on developing a powerful vaccine against COVID-19 disease. The growing need for fetal bovine serum during the pandemic is likely to upsurge the growth of the market in the near future.
The report segments the global fetal bovine serum market into application, end use, and region.
Cell Culture Sub-Segment to Dominate the Market Growth
Among application segment, the cell culture sub-segment is projected to dominate the market by garnering $758,839.10 thousand by 2028. The growth of this sub-segment is mainly because of the rising demand for fetal bovine serum in the cell culture due to its properties such as presence of essential growth components, proteins, minerals, vitamins, and others.
Research laboratory Sub-Segment to Observe Rapid Growth
Among end use segment, the research laboratory sub-segment is expected to experience accelerated growth and garner $244,829.00 thousand during the forecast period. The growth of this sub-segment is mostly due to the growing R&D activities to develop effective medicines and drugs against several ailments.
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North America Region to Dominate the Global Market
The report analyzes the global fetal bovine serum market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America region market is expected to lead the global market by garnering a revenue of $566,259.70 thousand during the estimated timeframe. The growth of this region market is mainly owing to the increasing investments in the research and development activities by market players in this region related to drug development that need fetal bovine serum.
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Major Players in the Market:
The report lists some of the leading players functioning in the global fetal bovine serum industry including -
- Cell Culture Technologies LLC
- Nucleus Biologics
- HiMedia Laboratories Pvt., Ltd.
- Biowest
- Biological Industries
- Rocky Mountain Biologicals
- PAN-Biotech
- Thermo Fisher Scientific Inc.
- Tissue Culture Biologicals
- GE Healthcare
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in January 2017, Nucleus Biologics, a supplier of cell culture products to the biotech and pharmaceutical industries, introduced its first premium product - a fetal bovine serum (FBS) to feed scientific innovations.
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