Fetal Bovine Serum Market Research Report | Forecast 2024
The global average cost of fetal bovine serum has increased exponentially in the past few years as the availability of FBS is dependent on environmental conditions. The FBS industry is seeing a product shortage due to adverse environmental conditions, globally increased beef and dairy demand that has reduced total cattle herd population to the lowest in 60 years. This along with mergers and product recalls has resulted in reducing product availability and increased product costs. However, fetal bovine serum is still a major ingredient of nutrient medium for cell cultures, as scientists have not yet discovered any replacement for FBS in large volumes.
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The global fetal bovine serum market has been segmented based on region of origin, specialty product type, application, and end-user. In terms of region of origin, the market has been categorized into North America, South America, Australia, New Zealand, and others. Fetal bovine serum from regions with low prevalence rates of bovine spongiform encephalopathy (BSE) have greater demand in the global fetal bovine serum market. In terms of specialty product type, the global fetal bovine serum market has been segmented into charcoal stripped FBS, chromatographic purified for low antibody FBS, dialyzed FBS, stem cell qualified FBS, exosome depleted FBS, and others. Stem cell qualified FBS is further divided into embryonic stem cells qualified FBS, mesenchymal stem cell-qualified FBS, and others. Based on application, the global fetal bovine serum market has been segmented into antibody production, veterinary applications, cell culture maintenance, exosome studies, immunoassays, and others. The immunoassays segment has been sub-segmented into radiolabeling assays, insulin assay methods, and others. In terms of end-user, the global fetal bovine serum market has been categorized into research/academic institutes, diagnostic labs, cell banks (stem cell banks, tumor cell banks, blood bank, etc.), biopharmaceutical companies, and others.
An emerging trend in the global fetal bovine serum market is a shift from animal derivatives to human serum, as it is cost-effective and easy for regulatory approvals. Preference for human serum is higher as compared to animal derived serum, especially for new cell line research. Intense quality analysis for sterility, performance, low antibody titer, mycoplasmas and endotoxins along with intricate manufacturing process that retains the nutrients in the fetal bovine serum needed for cell growth augment the global fetal bovine serum market.
In terms of region, the global fetal bovine serum market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to show continual growth owing to low labor cost, less capital investment for manufacturing of fetal bovine serum, rising demand for Australia origin fetal bovine serum, and increasing cell maintenance banks and specialty research institutes. North America is expected to dominate the global fetal bovine serum market as new and technologically advanced products are first introduced in the country, significant investments in research and development, and increasing demand from research institutes.
Key players in the global fetal bovine serum market are Sigma-Aldrich Co. LLC., GE Healthcare, Thermo Fisher Scientific Inc., TCS Biosciences Ltd., HiMedia Laboratories, Atlanta Biologicals, Inc., PAN-Biotech, Rocky Mountain Biologicals, Bovogen Biologicals Pty Ltd., and Tissue Culture Biologicals, among others.
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