Portland, OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Fetal Bovine Serum Market generated $796.25 million in 2020, and is proposed to reach $1.37 billion by 2030, recording a CAGR of 5.4% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Increase in R&D investments, rise in demand for fetal bovine sera, and increase in biopharmaceutical production fuel the global fetal bovine serum market. On the other hand, ethical and scientific concerns toward the collection of fetal bovine serum and rise in the use of alternatives hamper the market growth. On the contrary, untapped potential of developing countries creates several opportunities.
COVID-19 scenario:
- Due to the COVID-19 pandemic, many countries announced complete or partial lockdown, imposed social distancing measures, and advised to postpone some medical procedures and surgeries. This is expected to impact the global fetal bovine serum market.
- Travel restrictions and lack of workforce have affected production and distribution cycles.
- However, the demand for fetal bovine serum increased as the fetal bovine serum is widely used in in-vitro cell-culture preparation and vaccine production.
The report segments the global fetal bovine serum market on the basis of application, end-user, and region.
Based on application, the biopharmaceuticals segment accounted for the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain the lead throughout the forecast period. The segment is estimated to witness the fastest CAGR of 6.0% from 2021 to 2030. The report also covers segments such as the human & animal vaccine and others.
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Based on end-user, the pharmaceutical segment contributed to the highest market share in 2020, attributing to more than three-fifths of the total market share, and is anticipated to dominate the market during the forecast period. The segment is expected to manifest the fastest CAGR of 5.9% from 2021-2030. The report also covers segments such as the institute and others.
Based on region, North America contributed to the highest share in 2020, holding around two-fifths of the total share, and is expected to maintain dominance during the forecast period. The global fetal bovine serum market across the Asia-Pacific is anticipated to exhibit the fastest CAGR of 7.2% during the forecast period.
Key players of the global fetal bovine serum market analyzed in the research include Merck KGaA (Sigma Aldrich), Danaher (Cytiva), HiMedia Laboratories Pvt., Ltd, Sera Scandia (Biowest), Bio-Techne, Atlas Biologicals, Sartorius (Biological Industries), PAN-BiotechRocky Mountain Biologicals, and Thermo Fisher Scientific Inc.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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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 domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
