Portland, OR, Oct. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Australia and New Zealand fetal bovine serum market was pegged at $20 million in 2020 and is estimated to hit $35 million by 2030, registering a CAGR of 5.2% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase in funding & investment for R&D activities & innovation in the life science industry, high demand for FBS, and rise in advancements associated with biotechnology propel the growth of the Australia and New Zealand fetal bovine serum market. On the other hand, high price of fetal bovine serum and increased use of alternatives restrain the growth to some extent. However, untapped potential of the emerging economies has been highly beneficial for the market growth.
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Impact of COVID-19 on Fetal Bovine Serum Market in Australia and New Zealand-
- Fetal bovine serum has extensively been used in vaccine production and in-vitro cell-culture preparation in healthcare industries. This factor has impacted the Australia and New Zealand fetal bovine serum market positively during the pandemic.
- This trend is quite likely to continue till the pandemic is completely over.
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The Australia and New Zealand fetal bovine serum market is analyzed across origin, application, and end user.
Based on origin, the Australia origin segment contributed to around three-fourths of the total market share in 2019, and is expected to lead the trail by 2027. The same segment would also cite the fastest CAGR of 5.4% from 2021 to 2030.
Based on application, the cell culture segment accounted for more than one-third of the total market revenue in share in 2020, and is anticipated to rule the roost by 2027. The biopharmaceuticals segment, however, would grow at the fastest CAGR of 5.9% from 2021 to 2027.
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Based on end user, the biotechnology & pharmaceutical company segment held the major share in 2019, generating nearly half of the Australia and New Zealand fetal bovine serum market. The same segment would also manifest the fastest CAGR of 5.4% during the forecast period.
The leading market players analyzed in the Australia and New Zealand fetal bovine serum market report include Atlas Biologicals, Biowest, HiMedia Laboratories Pvt. Ltd., Merck KGaA (Sigma Aldrich), Thermo Fisher Scientific Inc., Biological Industries, Rocky Mountain Biologicals, Pan Biotech, Bio Techne, and GE Healthcare. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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