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Fetal Bovine Serum Global Market Report 2024 - By Share, Size, Demand, Outlook, Forecast To 2033
The Business Research Company presents an extensive market research report on the Fetal Bovine Serum Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fetal bovine serum market size has grown strongly in recent years. It will grow from $1095.25 billion in 2023 to $1176.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to expansion of biopharmaceutical industry, rise in cell-based therapies, quality and consistency requirements.
The fetal bovine serum market size is expected to see strong growth in the next few years. It will grow to $1644.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing adoption of cell therapies, emergence of advanced therapeutics, focus on animal-free alternatives, strategic supplier-customer relationships. Major trends in the forecast period include focus on quality and traceability, global collaboration and partnerships, strategic mergers and acquisitions, customized fetal bovine serum products, regulatory compliance and ethical sourcing.
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Key Market Players:
Major companies operating in the fetal bovine serum market report are Thermo Fisher Scientific Inc., Merck KGaA, GE Healthcare, Corning Incorporated, Cytiva, VWR International, Sartorius AG, Bio-Techne Corporation, Atlas Biologicals Inc., R&D Systems Inc., Atlanta Biologicals Inc., Cyagen Biosciences, GenClone Inc., Gemini Bio-Products, Access Biologicals LLC, Nucleus Biologics, ZenBio Inc., Biowest, Wellington Laboratories Inc., Bovogen Biologicals Pty Ltd., TCS Biosciences Ltd., J R Scientific Inc., Rocky Mountain Biologicals Inc., Tissue Culture Biologicals, Moregate Biotech, Cell Applications Inc., Altogen Biosystems, Axil Scientific Pte Ltd., Animal Technologies Inc., PAN- Biotech, PAA Laboratories GmbH, Peak Serum Inc., Biochrom GmbH
Market Drivers:
The increase in demand for biopharmaceuticals is expected to drive the growth of the fetal bovine serum market in the forecast period. A biopharmaceutical is a medicinal product that is derived from biological sources such as animals, humans, and microorganisms using biotechnology. Fetal bovine serum (FBS) is the most widely used substitute for animal cell culture media. Pharmaceutical firms, diagnostic laboratories, and researchers rely heavily on FBS for much of their cell culture requirements in biologics research. In 2022, ProClinical Limited, a UK-based lifesciences service and consulting company, sales for the company's pharmaceuticals and vaccines segments added up to US$36.15mn, an increase of 11% YOY. Therefore, the rising demand for biopharmaceuticals propels the growth of the fetal bovine serum market.
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The fetal bovine serum market covered in this report is segmented -
1) By Product: Charcoal Stripped, Chromatographic, Dialyzed Fetal Bovine Serum, Exosome Depleted, Stem Cell, Other Products
2) By Application: Drug Discovery, Cell Culture Media, In Vitro Fertilization, Human and Animal Vaccine Production, Diagnostics, Other Applications
3) By End-User: Research and Academic Institutes, Biotechnology and Pharmaceutical Industry, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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