Global Serum Market 2024 Future Scope, Industry Analysis, Competitive Landscape And Forecast To 2033

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.

Market Overview -
Serum refers to the clear and liquid portion of blood that remains after blood cells and clotting proteins have been eliminated. It is used as a supplement to the basal growth medium in cell culture applications.

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Increasing Awareness Of Age-Related Skin Issues Fuels Growth In The Serum Market
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.

Competitive Landscape -
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.

Innovated Products Pioneers Skincare Advancements In The Competitive Serum Market
Product innovation is the key trend gaining popularity in the serum market. Major companies operating in the serum market are focusing on developing innovative serum formulations for more skincare and beauty applications as well as to gain a competitive edge in the market. For instance, in March 2022, Galderma, a Switzerland-based pharmaceutical company specializing in dermatological treatments and skin care products, launched HA Immerse Serum, a new product addition to its ALASTIN Skincare lineup. HA Immerse Serum is intended to hydrate the skin at the surface while assisting in enhancing the skin's innate capacity to produce hyaluronic acid deep within, resulting in fuller, more youthful-looking skin over time. In order to provide long-term skin plumping, anti-aging, and hydration effects, ALASTIN's patented Octapeptide-45 aids the skin's capacity to naturally boost its own high molecular hyaluronic acid production deep inside the skin.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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