Fetal Bovine Serum Market Expected to Reach $1.37 Billion by 2030

According to a new report published by Allied Market Research, titled, “Fetal Bovine Serum Market by, application and end user: global opportunity analysis and Industries forecast, 2021–2030," 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 (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 such as amino acids, sugars, lipids, and hormones. It is commonly used for biotechnological research purposes, including cancer research, the development of biopharmaceuticals, human and animal vaccines, and other research purposes.

The major factor that drives the market growth are increase in research and development activities related to cell culture in the scientific sectors such as biopharmaceuticals & biotechnology. In addition, the rise in use of FBS in primary cell cultures for in-vitro testing and drug screening are the key factors anticipated to propel the growth of market. Furthermore, rise in R&D activities toward introduction of novel biopharmaceuticals has considerably has led to rise in the growth of the global fetal bovine serum market. Moreover, increase in use of FBS in primary animal cultures for virus production which is later used for producing several vaccines for disease such as measles, and hepatitis B drives the 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.

Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. Lockdown, government regulations, and continuous increase in infection rate across the country created a widespread financial impact on neurology hospitals and clinics. Large number of hospitals and clinics have witnessed a drop in number of patient visits amid COVID-19 ultimately reducing client contact.

The overall impact of COVID-19 remains positive for fetal bovine serum market as biopharmaceutical innovators are at the forefront of in vitro research and development for the search of vaccine and antiviral. 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. The rising focus of pharmaceutical industries on research and development is fueling the demand for culture media. Furthermore, FBS is also used to generate stem cells as therapeutic treatments. For instance, according to atlas biologicals in 2020, FBS used in stem cells culture for can provide successful treatment for patients suffering from acute or chronic lung damage as a result of a COVID-19 infection. Thus, overall impact of COVID-19 remains positive for fetal bovine serum market.

The global fetal bovine serum market is segmented on the basis of product, application, end user, and region.

By application, the biopharmaceuticals-segment accounted for the maximum market revenue in 2020, and is anticipated to gain dominance during the forecast period. This is attributed to the significant increase in biotech R&D activities toward introduction of novel biopharmaceuticals for treatment of various diseases across the globe.

By end user, the Biotechnology & Pharmaceutical Industries segment accounted for maximum market revenue in 2020, and is anticipated to gain dominance during the forecast period. This segment is anticipated to exhibit prominent growth rate, owing to significant rise in R&D for development of biopharmaceutical drugs and cancer research.

Key Findings Of The Study

• On the basis of application, the pharmaceutical segment held the largest fetal bovine serum market share in 2020, and is expected to remain dominant throughout the forecast period.
• On the basis of end user, the biotechnology & pharmaceutical industries segment held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• Region wise, North America is held the largest market share in 2020, and is expected to remain dominant throughout the forecast period
• Asia-Pacific is anticipated to grow at the highest rate in the fetal bovine serum market during the forecast period, followed by LAMEA

North America was the leading revenue contributor to the global market in 2020, owing to increase in healthcare investments by manufacturers and surge in R&D expenditure for various biotechnology research purposes. Asia-Pacific is expected to witness highest growth rate throughout the forecast period, owing to increase in biotech R&D, and growth in presence of key market players in this region.

Furthermore, the report provides an extensive competitive analysis and profiles of the key market players, such as Danaher (Cytiva), Merck KGaA (Sigma Aldrich), HiMedia Laboratories Pvt., Ltd, Bio-Techne, Sera Scandia (Biowest), Sartorius (Biological Industries), Rocky Mountain Biologicals, PAN-Biotech and Thermo Fisher Scientific Inc. The other players in the value chain (not included in the report) are Takara Bio, Inc., Tissue Culture Biologicals, Caisson Laboratories, Inc., Cell Culture Technologies LLC and Biomol GmbH and Nucleus Biologics