Fetal bovine serum Market Like to Touch $1,037 Million by 2025
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:Significant increase in R&D pertaining to the development of biopharmaceuticals and human & animal vaccines across the globe supplements the growth for fetal bovine serum market
According to a new report published by Allied Market Research, titled, “Fetal bovine serum Market by Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,”The global fetal bovine serum market was valued at $695 million in 2017, and is projected to reach $ 1,037 million by 2025, growing at a CAGR of 5.1 % from 2018 to 2025. North America was the highest revenue contributor in 2017 and is anticipated to maintain the same trend throughout the forecast period.
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Fetal bovine serum (FBS) is a nutrient growth supplement provided in laboratory and research settings for growth, proliferation, maintenance, and storage of microorganisms and other cell types such as stem cells, mammalian, and other cell lines. FBS is considered more appropriate as compared to the other animal sera available in the market, owing to the presence of additional hormones necessary for cell growth, proliferation, and differentiation of cells. Moreover, the quality of FBS is determined primarily at the blood collection site and the raw serum processing center. Appropriate collection is fundamental in maintaining the natural growth-promoting properties of fetal blood, thus achieving consistent and superior performance of the final FBS products. The growth of fetal bovine serum market size is primarily driven by the growing demand for biopharmaceuticals, rising biotech R&D activities in developing economies and increase in the support from government for research activities across the globe. However, significant increase in its price within recent years is anticipated to hamper the fetal bovine serum market growth. Conversely, untapped potential of emerging markets are anticipated to provide lucrative opportunities in the near future to the key players operating in the fetal bovine serum market.
Based on fetal bovine serum market trends by application, the cell culture segment accounted for the majority share of the global market in 2017. This is attributed to the fact that fetal bovine serum finds its application in performing various animal cell cultures. It is most widely used supplement for cell cultures.
Depending on end user, the biotechnology & pharmaceutical company segment generated the maximum revenue of in 2017, and is anticipated to exhibit prominent growth, due to significant rise in R&D for the development of drugs, human & animal vaccines and others.
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Key Findings of the Fetal bovine serum Market:
Based on end user, research laboratories accounted for nearly one-fifth share of the fetal bovine serum industry in 2017.
The biopharmaceuticals application segment is anticipated to grow with the highest CAGR throughout the forecast period.
Region wise, North America accounted for nearly two-fifths of the global fetal bovine serum market share in 2017.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
North America was the leading revenue contributor to the global market in 2018, owing to increase in healthcare investments by manufacturers and surge in R&D expenditure for various biotechnology research purposes. In addition, U.S. is the largest exporter of fetal bovine serum across the globe. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to increase in biotechnology R&D regarding development of biopharmaceuticals & vaccines and increase in the penetration of key market players in this region. Moreover, rise in government initiatives towards improving biotechnology research sector further boosts the market growth in this region.
The report provides an extensive competitive analysis and profiles of the key market players, such as GE Healthcare, Merck KGaA (Sigma Aldrich), HiMedia Laboratories Pvt., Ltd, Bio-Techne, Biowest, Biological Industries, Atlas Biologicals, Rocky Mountain Biologicals, PAN-Biotech, and Thermo Fisher Scientific Inc. The other players in the value chain (not included in the report) include Takara Bio, Inc., Cyagen Biosciences, PeproTech, Inc., Avantor Performance Materials, Caisson Laboratories, Inc., Cell Culture Technologies LLC, and Biomol GmbH.
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