Fetal Bovine Serum Market Statistics 2030:
The global fetal bovine serum market size was valued at $796.25 million in 2020, and is projected to reach $1,375.53 million by 2030, registering a CAGR of 5.4% from 2021 to 2030. Fetal Bovine serum is a nutrient-rich fluid derived from the blood of bovine fetuses. Fetal bovine serum (FBS) is a major component of animal cell culture media, which is obtained from bovine fetuses of cows. It has several nutritional and macromolecular factors that are essential for cell growth. Besides this, it also comprises amino acids, sugars, lipids, hormones, and low gamma globulin content. As a result, it is widely utilized in a range of applications, such as providing essential nutrients and facilitating cell survival and proliferation in eukaryotic cell culture. It is also used in research, manufacturing, biotech drugs, and controlling human and veterinary vaccines.
FBS is used in a wide range of applications. One of the primary uses of FBS is in eukaryotic cell culture, with concentration, where it provides many essential nutrients and growth factors that facilitate cell survival and proliferation.
The global fetal bovine serum market is driven by factors such as rapid increase in culture media consumption in developing countries across the world is key factor driving the growth and demand of fetal bovine serum market. Furthermore, rise in R&D activities toward the introduction of novel biopharmaceuticals and expansion of the biopharmaceutical industry is anticipated to drive the growth of market. Moreover, an increase in investments and funding for research interventions in both developed and developing countries drives market growth.
However, ethical & scientific concerns associated with the potential misuse of biotechnology research practices and dearth of skilled personnel restrict the fetal bovine serum market. In addition, ease of availability of alternatives such as chemically defined media, serum-free media, and others hampers the market growth. In addition, the fetal bovine serum market is experiencing paradigm shift, due to significant rise in prices of FBS over the recent years, which acts as a key restraint. This increase in price is attributed to the significant surge in demand for FBS while decrease in its production. On the contrary, 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.
Impact Of Covid-19 On Fetal Bovine Serum Market (Pre And Post Analysis)
The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. Due to the COVID-19 pandemic, governments across the globe announced country-wide lockdowns as well as social distancing measures to prevent collapse of the healthcare system. Governments have also issued limitations and bans on medical procedures and elective surgeries. These restrictions continue to impact the growth of various industries, and the immediate impact of the outbreak varies from industry to industry.
The distribution, production, and supply chain have been affected, due to the implementation of lockdown across the globe.
The overall impact of COVID-19 remains positive for fetal bovine serum market. As fetal bovine serum is used extensively in in-vitro cell-culture preparation and vaccine production. The in vitro evaluation of vaccine and antivirals generally requires a culture media in which the targeted virus or bacteria is cultured and the response is identified. Fetal bovine serum is used as a supplement in the growth media for vaccines.
For instance, according to a research article titled 'Role of Viral Transport Media in Sustaining COVID-19 Testing' published in October 2020, Viral Transport Media is generally composed of Fetal Bovine Serum (FBS). A viral transport media is used for preserving and transporting samples. A viral transport media (VTM) is preferred over other types, as it is a non-toxic mixture of antimicrobials and buffered solutions that can preserve the COVID-19 virus while eliminating contaminant flora that might interfere with testing. Fetal bovine serum-based VTM has proven compatibility with a wide range of clinical tests from PCR to direct antigen testing to culture, allowing different tests to be run from the same sample. Thus, the fetal bovine serum market is expected to experience rapid growth.
Fetal Bovine Serum Market Segmentation
The global fetal bovine serum market is classified on the basis of application, end user and region. By application, it is segmented into biopharmaceuticals, human & animal vaccines and others. By end user, the market is categorized biotechnology & pharmaceutical industries, academic institutes & others. By region, the market is analyzed across, North America, Europe, Asia-Pacific and LAMEA.
Application segment review
By application, the pharmaceuticals segment was the major revenue contributor, and is projected to grow significantly, owing to increase in adoption biopharmaceuticals drugs and increase in the prevalence of chronic disease such as cancer, arthritis and cardiovascular disease across the world are the key factors anticipating the growth of market.
Biopharmaceuticals segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
End user segment review
By end user, the biotechnology & pharmaceutical industries segment was the major revenue contributor, and is projected to grow significantly during the forecast period, owing to increased use of FBS for biopharmaceuticals and human & animal vaccine production. In addition, increase in demand from users of traditional serum and advancements in research and academic initiatives by private and government sectors are the major factors contributing toward the market growth.
By End User
Biotechnology & Pharmaceutical Company holds a dominant position in 2020 and continue to maintain lead in the forecast year
Region segment review
By region, North America accounted for the largest share in 2020, and is anticipated to maintain its dominance from 2020 to 2030, owing to increase in R&D activities to develop antibody base therapy for various disease, presence of major players & their product availability, and well-established healthcare infrastructure in the region.
North America holds a dominant position in 2020 and continue to maintain lead in the forecast year
The key market players profiled in the fetal bovine serum market include Danaher (Cytiva), Merck KGaA (Sigma Aldrich), HiMedia Laboratories Pvt., Ltd, Bio-Techne, Sera Scandia (Biowest), Sartorius (Biological Industries), Atlas Biologicals, Rocky Mountain Biologicals, PAN-Biotech and Thermo Fisher Scientific Inc.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the fetal bovine serum market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers fetal bovine serum market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global fetal bovine serum market growth.
Fetal Bovine Serum Market Report Highlights
By End User
By Key Market Players
Fetal bovine serum (FBS) is the liquid fraction of clotted blood from fetal calves. It contains a high amount of nutritional and macromolecular factors essential for cell growth. FBS also contains a variety of small molecules like amino acids, sugars, lipids, and hormones.
Factors such as rise in R&D activities toward the introduction of novel biopharmaceuticals and increase in investments and funding for research interventions in both developed and developing countries drives the market growth. In addition, significant rise in the use of sera for cell culture and low supply of the same is anticipated to increase the cost in near future. Furthermore, the rising usage of FBS in primary cell cultures for in-vitro testing and drug screening are the key factors anticipating growth of market. However, scientific and ethical concerns associated with biotechnology and dearth of skilled professionals hamper the growth of the market.