Press release
Global Serum Market Projected to Reach $2.15 Billion by 2028, Growing at a CAGR of 10.6%: Market Insights and Trends || Merck Group, Thermo Fisher Scientific Inc., Danaher Corp., Corning Incorporated, VWR International LLC, Sartorius AG
Serum Global Market Report 2024
The Business Research Company presents an extensive market research report on the 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 serum market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to medical diagnostics, clinical research, drug development and testing, disease monitoring, therapeutic applications.
The serum market size is expected to see rapid growth in the next few years. It will grow to $2.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to precision medicine advances, rise in personalized healthcare, expanded applications in oncology, global health initiatives, increasing geriatric population. Major trends in the forecast period include adoption of customizable serum solutions, use of fermented ingredients for skin health, introduction of infused serums, application of niche ingredients such as retinol alternatives, emphasis on inclusive beauty and diverse formulations.
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Key Market Players:
Major companies operating in the serum market report are Merck Group, Thermo Fisher Scientific Inc., Danaher Corp, Corning Incorporated, VWR International LLC, Sartorius AG, Bio-Techne Corporation, Takara Bio Inc., Atlas Biologicals Inc., Proliant Health & Biologicals, Seracare Life Sciences Inc., Lampire Biological Labs Inc., Altogen Labs, Innovative Research Inc., Lee Biosolutions Inc., Bovogen Biologicals Pty. Ltd., Caisson Labs Inc., Gemini BioProducts Holding Inc., Valley Biomedical Products & Services Inc., Equitech-Bio Inc., Rocky Mountain Biologicals, PAN-Biotech GmbH, BIOWEST SAS, Moregate Biotech, Tissue Culture Biologicals, Kerafast Inc., Access Biologicals LLC, Animal Technologies Inc., Cell Applications Inc., Cell Sciences Inc.
Market Drivers:
The rise in awareness about age-related skin issues is expected to propel the growth of the serum market going forward. Age-related skin issues refer to skin conditions common among aging people, such as wrinkles, facial movement lines and others. Serum treats age-related skin conditions like dullness, hyperpigmentation, dehydration, wrinkles, and loss of firmness as well as evens out skin tone, lightens it, reduces visible flaws, and leaves skin nourished. For instance, according to the Cosmetic Executive Women (CEW), a US-based non-profit organization promoting the cosmetics, fragrance, and personal care industry, on average, in the 12 months ended June 2021, there were 943,500 monthly searches for aging-related skin care issues in the USA. Therefore, a rise in awareness about age-related skin issues is driving the growth of the serum market.
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https://www.thebusinessresearchcompany.com/report/serum-global-market-report
The serum market covered in this report is segmented -
1) By Type: Bovine Serum, Fetal bovine serum (FBS), Other Types
2) By Inactivation Technique: Heat Inactivated, Non-Heat Inactivated
3) By Application: Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Other Applications
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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