Bovine Serum Market Geographical Expansion & Analysis Growth Development, Status, Recorded during 2017 to 2032

The global bovine serum market size was valued at USD 800.0 million in 2021 and is projected to reach around USD 1,290.0 million in 2030 exhibiting a CAGR of 5.0% in the forecasted period.

The fast pace growth in culture media consumption in emerging countries across the globe is among the vital factors increasing the growth and demand of bovine serum market. Additionally, the increasing requirement from conventional users of serum is also contributing to the growth in the global market over the forecasted period. Furthermore, the increasing number of contract research organizations along with high advancement in biopharmaceuticals and funding offered from the government are also increasing the growth of the market. Similarly, the rising R&D activities towards the introduction of novel biopharmaceuticals is expected to impact the demand of bovine serum hence lifting the market growth in the afore mentioned forecast period. The quick advancement in research and academic initiatives by the several private and governmental sector will more fasten the expansion of the bovine serum market and are also are proposing significant growth opportunities for the market in the forecast period.

However, the sudden reduction in cattle herd population due to the risen demand of dairy and meat products will restrain the growth of the bovine serum market, although the high cost and chances of viral existence is likely to challenge the growth of the bovine serum market.

The bovine serum is used as a raw material for research activities conceded out in pharmaceutical organizations. The rising number of pharmaceutical, biotechnology, and diagnostics companies demand higher bovine serum for use. Moreover, governments of several emerging nations are supporting these research activities of pharmaceutical and biotechnology corporations across the world. The rising awareness about the nutritional benefits of bovine serum is boosting the growth of the bovine serum market. The bovine serum comprises of numerous macromolecular factors, amino acids, lipids, sugars, and hormones that are essential for cell growth.

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The impact of COVID-19 remains positive for bovine serum market. As bovine serum is extensively used in in-vitro cell-culture preparation and vaccine development. The in vitro assessment of vaccine and antivirals usually requires a culture media in which the targeted virus or bacteria is cultured and the response is acknowledged. The bovine serum is used as an addition in the growth media for vaccines.

For example, as per the research article titled 'Role of Viral Transport Media in Sustaining COVID-19 Testing' published in October 2020, Viral Transport Media is usually made from Fetal Bovine Serum (FBS). A viral transport media is used for preservative and transportation of samples. A viral transport media (VTM) is chosen over other types, as it is a non-toxic mixture of antimicrobials and buffered solutions that can reserve the COVID-19 virus while removing contaminant flora that might impede with testing. The bovine serum-based VTM has proven compatibility with a broad range of clinical tests from PCR to straight antigen testing to culture, permitting various tests to be run from the same sample. Thus, the bovine serum market is anticipated to experience rapid growth.

Product Insights

Stem cells have a broad range of applications in research studies and in the biopharmaceutical industry, due to which the market value for stem cells is the maximum, as compared to the markets for other product types. The efficiency of cellular reprogramming for induced pluripotent stem cells intends to the high demand for the product. Stem cells have benefits over other stem cell types due to the broad variety of their tissue sources. The broader range of application of the stem cell is expected to boost the segmental growth, as it needs bovine serum cell line for tissue culture. Additionally, the benefits of bovine serum in serum cell culture, such as its capability of stem cell morphology, differentiation, cell growth and expansion, and clonal efficacy, are boosting their adoption. A specific lot of bovine serum is tested widely for its capability to help in vitro growth of the undifferentiated stem cell lines. Moreover, there is an increasing trend of acceptance of technologically progressive stem cell lines, which pretences capabilities, containing steam-in-place (SIP) sterilization, filtration for sterility, and many others.

Application Insights

The pharmaceuticals segment was the largest contributor of revenue, and is anticipated to boost considerably, due to rise in adoption of biopharmaceuticals drugs and upsurge in the prevalence of chronic disease such as arthritis, cancer, and cardiovascular disease across the globe are the important factors anticipating the growth of market.

End User Insights

The biotechnology & pharmaceutical industries segment was the foremost revenue contributor, and is anticipated to grow considerably during the forecasted period, due to higher use of bovine serum for biopharmaceuticals and human & animal vaccine development. Moreover, growth in demand from users of conventional serum and developments in research and academic initiatives by private and government sectors are the significant factors contributing toward the market growth.

Region Insights

North America is the dominating region due to the presence of important market players. The improved funding by government agencies, the existence of major clinical diagnostics companies, and the increase in focus to develop biopharmaceuticals in North America fuelled the regional market.

The United States is anticipated to be the largest market in the region. According to the report published by Congressional Research Service (2020), over USD 134.1 billion for research and development (R&D) has been paid by the US government. The federal government in the United States is playing a significant role in supporting research and development efforts, directing to scientific breakthroughs and new skills. The United States is also aiding from the presence of major market players, such as Merck KGaA, Rocky Mountain Biologicals, R&D Systems Inc., and TCS Biosciences Ltd, which have well-known portfolios of bovine serum products. The nation is experiencing fast growth in the biopharmaceutical industry. Hence, research studies are growing, and eventually, the demand for bovine serum is rising, as it plays a major role in the development or manufacturing of cell lines.

Asia Pacific is anticipated to achieve market share during the forecasted period. Distribution agreements, product launches, acquisitions, alliances, and geographical expansion by indigenous players, specifically in China and India, are anticipated to propel the bovine serum market in the region.

Key Companies Insights

Key players are aiming on their technological partnerships, collaborations, and merger & acquisitions policies to gain a competitive edge and expand their product portfolio & business footmark. The ongoing COVID-19 pandemic hindered the healthcare systems worldwide and driven market players to update products for unexploited prospects.

Some of the key players operating in the global bovine serum market include:

· Danaher (Cytiva)

· Merck KGaA (Sigma Aldrich)

· HiMedia Laboratories Pvt. Ltd

· Bio-Techne

· Sera Scandia (Biowest)

· Sartorius (Biological Industries)

· Atlas Biologicals

· Rocky Mountain Biologicals

· PAN-Biotech

· Thermo Fisher Scientific Inc.

· Other players

Some of the Recent Developments:

· In April 2021, Thermo Fisher Scientific Inc. and PPD Inc. entered into a definitive agreement in which Thermo Fisher will acquire PPD for USD 17.4 billion.

· In March 2021, Merck KgAA expanded the single-use assembly production unit at its Life Science Center in Molsheim, France.

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Segments

By Product

· Charcoal Stripped

· Chromatographic

· Dialyzed Fetal Bovine Serum

· Exosome Depleted

· Stem Cell

· Other Products

By Application

· Biopharmaceuticals

· Human and Animal Vaccine

· Others

By End User

· Biotechnology & Pharmaceutical Industries

· Academic Institutes

· Others

Key Points:
Define, describe and forecast Bovine Serum product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

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