Wilmington, Delaware, United States, June 29, 2023 (GLOBE NEWSWIRE) -- The global fetal bovine serum market stood at US$ 842.7 billion in 2020, and the global market is projected to reach US$ 1.6 billion by 2031. The global industry is anticipated to record a CAGR of 6.4% between 2021 and 2031.
The value of fetal bovine serum market is increasing, owing to the increasing demand for biopharmaceuticals and regenerative medicine. There is a growing need for effective therapeutics and novel treatment approaches, with the rise in chronic diseases. FBS plays a vital role in cell-based research and the development of biopharmaceutical products, including vaccines, antibodies, and cell therapies. The need for high-quality FBS as a cell culture supplement will also increase, as the demand for these advanced therapies continues to rise, driving the market growth.
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The expanding applications of FBS across various research fields, such as stem cell research, cancer research, and tissue engineering, is another significant factor contributing to the market growth. Stem cell research, in particular, holds immense potential for regenerative medicine and disease modeling. FBS provides essential nutrients and growth factors that support the growth and differentiation of stem cells, making it a critical component in stem cell culture. The demand for FBS is expected to witness substantial growth, as research in these areas continues to advance.
The market prospects have been driven by factors such as the increasing investments in life sciences research and development. Governments, academic institutions, and pharmaceutical companies are allocating significant funds for research and drug discovery activities. The investments drive the demand for FBS as a key component in cell culture systems, as it enables researchers to conduct in vitro experiments and study cell behavior. The growing emphasis on precision medicine and personalized therapies further fuels the demand for FBS, as it is an essential tool in studying disease mechanisms and developing targeted treatments.
Key Findings of the Market Report
- On the basis of application, cell media culture segment is likely to be most preferred, expected to expand at a significant share, attributed to the increasing demand for cell-based therapies, and growing biopharmaceutical industry.
- Advancements in regenerative medicine, as well as research & academic institutions are other factors that are anticipated to augment the market demand.
- By end-user, research & academic institutes segment is expected to boost the market growth, attributed to the factors including increasing research activities, and expanding collaborations & partnerships.
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Global Fetal Bovine Serum Market: Growth Drivers
- The global fetal bovine serum market is projected to expand at a steady pace from 2021 to 2031, owing to continuous advancements in cell culture technologies & manufacturing processes, and increasing awareness regarding the importance of quality & safety in cell culture practices.
- Other factors that are projected to augment the market growth include growing prevalence of chronic diseases, and expansion of biotechnology & pharmaceutical industries.
- Technological advancements in cell culture techniques, and increasing focus on personalized medicine, are the major factors that are anticipated to fuel the market prospects in the near future.
Global Fetal Bovine Serum Market: Regional Landscape
- North America is expected to dominate the fetal bovine serum market, and is expected to hold a significant share during the forecast period, attributed to rising adoption of cell-based therapies, and collaborative research initiatives in the region.
- The regional market is witnessing an increase, due to the factors such as strong presence of key market players, as well as favorable regulatory environment.
- Increasing demand for biopharmaceuticals, and rising adoption of cell-based therapies in the region, are also anticipated to escalate the growth of the regional market over the analysis period.
Global Fetal Bovine Serum Market: Key Players
Some of the key market players in the global fetal bovine serum market are:
- ANZCO Foods (Bovogen Biologicals Pvt. Ltd.)
- ATCC
- Bio-techne (Atlanta Biologicals)
- Captivate Bio
- Danaher (Cytiva)
- HiMedia Laboratories
- Merck KGaA
- PAN Biotech GmbH
- Rocky Mountain Biologicals
- TCS Biosciences Ltd.
- Thermo Fisher Scientific
- Zen-Bio, Inc.
Competitive Landscape
Prominent players in the fetal bovine serum industry are taking advantage of the rapidly increasing demand for fetal bovine serum. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In 2021, Thermo Fisher Scientific expanded its FBS product portfolio by launching the Gibco Heat Inactivated Fetal Bovine Serum. The product is designed to provide researchers with a consistent and reliable FBS option for cell culture applications.
- In the same year, Merck KGaA introduced the EX-CYTE™ FBS in 2021, which is a high-quality, heat-inactivated FBS that offers enhanced cell performance and productivity. The product aims to meet the growing demand for premium FBS products in biopharmaceutical research and manufacturing.
- GE Healthcare announced the launch of its HyClone™ Fetal Bovine Serum in 2021. The FBS product is manufactured using strict quality control processes and is intended to support reliable and reproducible cell culture performance in various applications.
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Global Fetal Bovine Serum Market: Segmentation
Application
- Drug Discovery
- Cell Media Culture
- In Vitro Fertilization
- Human & Animal Vaccine Production
- Diagnostic
- Others
End-user
- Research & Academic Institutes
- Industry
- Healthcare Facilities.
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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