Fetal Bovine Serum Market Report
RA08490
Fetal Bovine Serum Market by Application (Biopharmaceuticals/Drug Discovery, Cell Culture, Human & Animal Vaccine Production, and Others), End-user (Biotechnology & Pharmaceutical Company, Academic Institute, and Research Laboratory), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028
Fetal Bovine Serum Market Analysis
The fetal bovine serum market is estimated to be valued at $1,568,586.4 thousand by 2028, surging from $969,033.5 thousand in 2020, at a noteworthy CAGR of 6.4%.
Market Synopsis
Rising research and development activities in the scientific sectors like biopharmaceuticals & biotechnology is expected to accelerate the growth of fetal bovine serum market.
However, high prices of the serum and lack of skilled labor for its handling are likely to hinder the market growth.
According to the regional analysis of the market, the Asia-Pacific fetal bovine serum market is anticipated to grow at a CAGR of 7.0%, by generating a revenue of $392,146.60 thousand during the review period.
Fetal Bovine Serum Overview
Fetal bovine serum is extracted from the blood collected from a cow fetus at the slaughterhouse. The serum is widely used as a serum supplement for the cell culture of eukaryotic cells in vitro. This is because the serum contains low level of antibodies and more growth factors, which allow its versatile application in many different cell culture applications. Fetal bovine serum contains a complex composition of protein components which are required by many cells to grow. However, since the serum is undefined, many of its components and their concentrations are not known, which restricts its use to some cells’ growth only.
Impact Analysis of COVID-19 on the Fetal Bovine Serum Market
The novel coronavirus pandemic has had a devastating effect on several industries, including the fetal bovine serum market. The pandemic had a moderate impact on fetal bovine serum market. The corona virus infection is highly communicable and can easily infect the person. Therefore, to control the spread of infection many academic and research institutions were completely shut due to which the demand for fetal bovine serum, used in the research activities, decreased. Also due to complete lockdown, worldwide, the cattle slaughter homes were also closed due to which the collection of raw material was impacted. This in turn, severely affected the supply of raw material to the industries. However, the emergence of COVID-19 pandemic has also positively impacted the fetal bovine serum market. Owing to rising infection rate and its spread, the demand for a potent vaccine or any antiviral drug against the virus has increased. To cater this high demand, many biotechnological and biopharmaceutical companies have paced up their research and development activities to develop vaccine for the treatment of the infection. These factors are likely to fuel the market growth of fetal bovine serum in the future.
Rising Research and Development Activities likely to drive the Market of Fetal Bovine Serum
Fetal bovine serum is widely used as a growth supplement for the cell culture of eukaryotic and mammalian cells in the laboratories because it contains low level of antibodies and high numbers growth factors, along with a complex composition of protein components required for many cells growth. Therefore, the serum is widely used in research activities in the academic institutes. Also, rising research and developmental activities in fields like cell culture has further increased the use of fetal bovine serum as a growth medium. This rising demand is expected to accelerate the growth curve of fetal bovine serum in the anticipated years.
To know more about fetal bovine serum market drivers, get in touch with our analysts here.
Rising Availability of Supplement for Fetal Bovine Serum to Restrain the Market
The fetal bovine serum is extracted from pregnant cows after they are slaughtered in the slaughterhouses. Thus, this collection source is considered unethical and inhuman. Therefore, to avoid such conditions and issues, my companies have focused on the development of animal free sera which does not involve any ethical issues. Such factors are likely to impede the market growth in the forecast time frame. Also, dearth of skilled and qualified labor for the procurement, processing, and handling of the fetal bovine serum is also suspected to restrain the market growth.
Advances in Technology and Expansion of Serum Portfolio of Companies to Provide Opportunities for the Manufacturing Industries in the Market
As the technology is advancing and the rate of research and development activities are pacing, the demand for fetal bovine serum is also increasing at an exceptional rate. The wide range of application of the serum has encouraged the biopharmaceutical industries to develop animal-based drugs and medicines. Drugs and vaccines produced in animal hosts have various advantages such as the procedure is cheap, and the product produced through this procedure is in mass quantity. This factor is likely to flourish the market growth in future.
To know more about fetal bovine serum market opportunities, get in touch with our analysts here.
Based on application, the market has been divided into biopharmaceuticals/drug discovery, Cell Culture, human & animal vaccine production, and others sub-segments of which the Cell Culture sub-segment is projected to generate the maximum revenue and biopharmaceuticals/drug discovery is predicted to show the fastest growth. Get Absolute Sample ReportFetal Bovine Serum Market
By Application
Source: Research Dive Analysis
The cell culture sub-segment is predicted to have a dominating market revenue in the global market and register a revenue of $758,839.10 thousand during the forecast period. This growth is projected to increased use of fetal bovine serum in the cell culture owing to its properties like presence of necessary growth factors, minerals, proteins, vitamins, and other factors in the serum which make it highly appropriate for the in vitro growth of eukaryotic cells. Cell culture is widely practiced in academic institutes and research laboratories.
The biopharmaceutical/drug discovery sub-segment to have the fastest growing market share in the global market and is expected to register a revenue of $212,045.60 thousand, with an increase from $123,699.20 thousand in 2020, at a CAGR of 7.10%. The growth of the sub-segment is due to fact that the production of in vitro biopharmaceutical products like artificial hormones involves mammalian cell culturing on a fetal bovine serum enriched growth media. The fetal bovine serum is widely used for drug discovery because it contains all necessary growth factors required for the proper growth of the cells in the laboratory. Also, the rising demand for biopharmaceutical products as these medicines are cheap, follow an easy procedure and their easily conducted mass production, are likely to boost the market growth in the future.
Fetal Bovine Serum Market, by End-user
Based on the end-user, the market is divided into biotechnology & pharmaceutical company, academic institute, and research laboratory. Among the mentioned sub-segments, the research laboratory sub-segment is predicted to show the fastest growth and biotechnology & pharmaceutical companies is projected to garner a dominant market share.
Source: Research Dive Analysis
The research laboratory sub-segment of market is projected to have the fastest growth and surpass $244,829.00 thousand by 2028, with an increase from $146,475.40 thousand in 2020. This growth is attributed to increasing research and development activities to develop potent drugs and medicines against various diseases. Also, fetal bovine serum proves to be an excellent growth supplement for the growth of mammalian cells due to which it is widely considered in the cancer research studies. Apart from this, establishment of many research laboratories at various places is likely to boost the growth of the market in the future.
The biotechnology & pharmaceutical companies sub-segment of market is projected to have the dominating share and reach $807,173.70 thousand by 2028 in a timeframe of 2021-2028. The growth of the sub-segment is due to ever expanding product portfolio of biopharmaceutical & biotechnological companies with drugs and medicines that are produced in animal host bodies in mass quantities. Also, the major companies have started investing in their research and development activities to develop vaccines for COVID-19 which requires the use of fetal bovine serum as a growth medium for the growth of the mammalian cell lines. This factor is also anticipated to generate a huge revenue in the future.
Fetal Bovine Serum Market
By RegionThe fetal bovine serum laboratory market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Fetal Bovine Serum in North America to be the Most Dominant
The fetal bovine serum market for the North America region is projected to witness rapid growth. This market generated a revenue of $374,046.90 thousand in 2020 and is further projected to reach up to $566,259.70 thousand by 2028. The growth of the region is attributed to the presence of well-established companies like Rocky Mountain Biologicals, Inc. in the market and their high investments in the research and development activities related to drug development that requires the use of fetal bovine serum. Apart from this, the region is highly inclined towards the consumption of red meat due to which the region is concentrated with many slaughterhouses from where the fetal bovine serum is collected. This factor is likely to raise the revenue of the market in the stipulated time period.
The Market for Fetal Bovine Serum in Asia-Pacific to be the Fastest
The Asia-Pacific fetal bovine serum market is anticipated to grow at a CAGR of 7.0% by generating a revenue of $392,146.60 thousand during the review period. The growth of the region is attributed to various initiatives taken by the government of developing countries to increase their research and development activities.
Competitive Scenario in the Fetal Bovine Serum Market
Product launches and acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
The companies involved in the fetal bovine serum market are GE Healthcare, HiMedia Laboratories Pvt., Ltd., Biowest, Biological Industries, Rocky Mountain Biologicals, PAN-Biotech, and Thermo Fisher Scientific Inc, Tissue Culture Biologicals, Cell Culture Technologies LLC, and Nucleus Biologics.
Porter’s Five Forces Analysis for the Fetal Bovine Serum Market
- Bargaining Power of Suppliers: Since the number of suppliers are limited in number, they demand a huge price for the raw materials and the products from the customers as the procurement, processing, and purification of the serum is very expensive.
Hence, the bargaining power of suppliers is high. - Bargaining Power of Buyers: Buyers are high in number but since the products quoted by the company are very high and the availability of raw material and the product is less, the buyer has to pay accordingly for the products designated by the suppliers or manufacturers.
Thus, the bargaining power of the buyers is low. - Threat of New Entrants: New companies entering the market have great opportunity to establish themselves by developing such serum alternatives which provide same growth quality but are animal free and cheap.
Thus, the threat of the new entrants is high. - Threat of Substitutes: In case of fetal bovine serum, the serum is unethically collected from the slaughter houses. To avoid this, various new alternatives like animal free serum are available in the market that prove to be equally efficient.
Thus, the threat of substitutes is high. - Competitive Rivalry in the Market: There is a tough competition among the major companies in the market based on the quality of the products, and their price war.
Therefore, competitive rivalry in the market is high.
| Aspect | Particulars |
| Historical Market Estimations | 2019-2020 |
| Base Year for Market Estimation | 2020 |
| Forecast Timeline for Market Projection | 2020-2028 |
| Geographical Scope | North America, Europe, Asia, Australasia, Middle East and Rest of World |
| Segmentation by Application |
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| Segmentation by End-User |
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| Key Companies Profiled |
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Q1. What is the size of the fetal bovine serum market?
A. The global fetal bovine serum market was valued at $969,033.5 thousand in 2020, and is projected to reach $1,568,586.4 thousand by 2028, registering a CAGR of 6.4%.
Q2. Which are the major companies in the market?
A. GE Healthcare and Biological Industries are some of the prominent companies in the market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific fetal bovine serum market?
A. The share of Asia-Pacific market is anticipated to grow at a CAGR of 7.00%.
CHAPTER 1:INTRODUCTION
1.1.Research methodology
1.1.1.Desk research
1.1.2.Real-time insights and validation
1.1.3.Forecast model
1.1.4.Assumptions & forecast parameters
1.1.4.1.Assumptions
1.1.4.2.Forecast parameters
CHAPTER 2:EXECUTIVE SUMMARY
2.1.360° summary
2.2.Application trends
2.3.End users trends
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.2.2.1.Top winning strategies, by year
3.2.2.2.Top winning strategies, by development
3.2.2.3.Top winning strategies, by company
3.2.3.Top player positioning
3.3.Porter's five forces analysis
3.4.Market dynamics
3.5.Drivers
3.5.1.Increasing research activities in biopharmaceutical and biotechnological field to boost the market growth
3.6.Restraints
3.6.1.Availability of alternative serum in the market is likely to restrain the market of fetal bovine serum
3.7.Opportunities
3.7.1.Expansion of biopharmaceutical & biotechnological industries to provide growth opportunities for the market
3.8.Regulatory landscape
3.9.Market value chain analysis
3.10.Strategic overview
CHAPTER 4:IMPACT OF COVID19 ON FETAL BOVINE SERUM MARKET
4.1.Introduction
4.2.COVID-19 health assessment
4.3.Impact of COVID-19 on the global economy
4.4.Impact of COVID-19 on fetal bovine serum market
4.4.1.Technological impact
4.5.Fetal bovine serum market size and forecast, by region, 2021-2028
CHAPTER 5:GLOBAL FETAL BOVINE SERUM MARKET, BY APPLICATION
5.1.Overview
5.1.1.Market size and forecast, by type
5.2.Biopharmaceuticals & Drug Discovery
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market share analysis, by country
5.3.Cell Culture
5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country
5.4.Human & Animal Vaccine Production
5.4.1.Key market trends, growth factors and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market share analysis, by country
5.5.Others
5.5.1.Key market trends, growth factors and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market share analysis, by country
CHAPTER 6:GLOBAL FETAL BOVINE SERUM MARKET, BY END USER
6.1.Overview
6.1.1.Market size and forecast, by end user
6.2.Biopharmaceutical & biotechnological companies
6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market share analysis, by country
6.3.Academic Institute
6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market share analysis, by country
6.4.Research Laboratory
6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market share analysis, by country
CHAPTER 7:GLOBAL FETAL BOVINE SERUM MARKET, BY REGION
7.1.Overview
7.1.1.Market size and forecast, by region
7.2.North America
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by product
7.2.3.Market size and forecast, by end user
7.2.4.Market size and forecast, by country
7.2.5.U.S.
7.2.5.1.Market size and forecast, by Application
7.2.5.2.Market size and forecast, by end user
7.2.6.Canada
7.2.6.1.Market size and forecast, by Application
7.2.6.2.Market size and forecast, by end user
7.2.7.Mexico
7.2.7.1.Market size and forecast, by Application
7.2.7.2.Market size and forecast, by end user
7.3.Europe
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by Application
7.3.3.Market size and forecast, by end user
7.3.4.Market size and forecast, by country
7.3.5.Germany
7.3.5.1.Market size and forecast, by Application
7.3.5.2.Market size and forecast, by end user
7.3.6.UK
7.3.6.1.Market size and forecast, by application
7.3.6.2.Market size and forecast, by end user
7.3.7.France
7.3.7.1.Market size and forecast, by application
7.3.7.2.Market size and forecast, by end user
7.3.8.Italy
7.3.8.1.Market size and forecast, by application
7.3.8.2.Market size and forecast, by end user
7.3.9.Spain
7.3.9.1.Market size and forecast, by applictaion
7.3.9.2.Market size and forecast, by end user
7.3.10.Rest of Europe
7.3.10.1.Market size and forecast, by application
7.3.10.2.Market size and forecast, by end user
7.4.Asia-Pacific
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by application
7.4.3.Market size and forecast, by end user
7.4.4.Market size and forecast, by country
7.4.5.China
7.4.5.1.Market size and forecast, by application
7.4.5.2.Market size and forecast, by end user
7.4.6.Japan
7.4.6.1.Market size and forecast, by application
7.4.6.2.Market size and forecast, by end user
7.4.7.Australia
7.4.7.1.Market size and forecast, by application
7.4.7.2.Market size and forecast, by end user
7.4.8.South Korea
7.4.8.1.Market size and forecast, by application
7.4.8.2.Market size and forecast, by end user
7.4.9.India
7.4.9.1.Market size and forecast, by application
7.4.9.2.Market size and forecast, by end user
7.4.10.Rest of Asia-Pacific
7.4.10.1.Market size and forecast, by application
7.4.10.2.Market size and forecast, by end user
7.5.LAMEA
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by application
7.5.3.Market size and forecast, by end user
7.5.4.Market size and forecast, by country
7.5.5.Latin America
7.5.5.1.Market size and forecast, by application
7.5.5.2.Market size and forecast, by end user
7.5.6.Middle East
7.5.6.1.Market size and forecast, by application
7.5.6.2.Market size and forecast, by end user
7.5.7.Africa
7.5.7.1.Market size and forecast, by application
7.5.7.2.Market size and forecast, by end user
CHAPTER 8:COMPANY PROFILES
8.1.Biological Industries
8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Product portfolio
8.1.4.Key strategic moves and developments
8.2.Animal Technologies, Inc
8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Product portfolio
8.3.HiMedia Laboratories
8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Product portfolio
8.3.4.Key strategic moves and developments
8.4.Biowest
8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Product portfolio
8.5.Bio-Techne Corporation
8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Operating business segments
8.5.4.Product portfolio
8.5.5.Business performance
8.5.6.Key strategic moves and developments
8.6.Thermo Ficher Scientific Inc.
8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Operating business segments
8.6.4.Product portfolio
8.6.5.Business performance
8.6.6.Key strategic moves and developments
8.7.Access Biological LLC
8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Product portfolio
8.8.Atlas Biologicals
8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Product portfolio
8.9.Rocky Mountain Biologicals
8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Product portfolio
8.10.PAN Biotech
8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Product portfolio
Serums as well as many other blood-derived products have been widely used in pharmacological researches since ages. Use of these products has played a notable role in various developments in human and veterinary healthcare and drug development. One such product is the fetal bovine serum (FBS), which has a significant role in the culture of mammalian cells for various decades. This serum is considered to be a valuable product for a broad spectrum of applications, as it supports a wide array of mammalian cell types.
What is Boosting the Demand for Fetal Bovine Serum?
FBS is the most commonly used serum as it provides the most robust culture system for the widest range of cell types and can be used from basic research to biochemical studies, vaccine development, and drug discovery. It is also extensively used as a growth supplement for the cell culture of eukaryotic and mammalian cells in the laboratories, as it comprises of low level of antibodies and high numbers growth factors along with an intricate composition of protein elements required for the development of numerous cells.
A considerable surge in research and developmental activities in the cell culture arena has boosted the demand for fetal bovine serum. This rising demand is expected to accelerate the growth graph of the fetal bovine serum market in the coming years. As per a report by Research Dive, the global fetal bovine serum market is projected to garner $1,568,586.4 thousand by 2028, with a CAGR of 6.4%.
As the technological researches are proceeding at an accelerated pace, the demand for fetal bovine serum is also growing profoundly. However, as fetal bovine serum is extracted from pregnant cows after they are slaughtered in the slaughterhouses, their extraction is deliberated as inhuman and immoral. As a result, to avoid such practices and related issues, many companies are focusing on the development of animal-free sera, which does not implicate any ethical issues. For instance, a team of scientists from the Savitribai Phule Pune University (SPPU), Pune, has invented a novel technique to grow and study skin cells. This technique uses at least 5 times lesser concentrations of fetal bovine serum.
Recent Trends in the Fetal Bovine Serum Industry
Various companies functioning in the fetal bovine serum sector, such as GE Healthcare, HiMedia Laboratories Pvt., Ltd., Biowest, Biological Industries, Rocky Mountain Biologicals, PAN-Biotech, and Thermo Fisher Scientific Inc, Tissue Culture Biologicals, Cell Culture Technologies LLC, and Nucleus Biologics, are greatly investing in the fetal bovine serum industry. These market players are undertaking numerous strategies, such as novel product launches, partnerships, and collaborations, to obtain a leading-edge in the global market.
For instance,
- In 2020, an animal study conducted by Bharat Biotech, an Indian multinational biotechnology company involved in the drug development, drug discovery, bio-therapeutics, manufacture of vaccines, pharmaceuticals and healthcare products, stated that it uses blood serum from newborn cattle in making Covaxin.
- A privately owned and independent supplier of life science laboratory products, named Peak Serum, Inc., has introduced Peak Premier Rewards; a program intended to reward customers who regularly buy fetal bovine serum and lab accessories.
Impact of COVID-19 Pandemic on the Fetal Bovine Serum Market
The global fetal bovine serum market growth has been considerably impacted with the rise of the COVID-19 pandemic in 2020. The pandemic has resulted in the enforcement of strict lockdowns. As academic and research institutions worldwide were completely shut, the demand for fetal bovine serum decreased, thus hampering the market growth. However, the pandemic has also surged the demand for fetal bovine serum to some extent. The rising spread of the COVID-19 virus has fueled the demand for a powerful vaccine or any antiviral medicine. To satisfy this high demand, numerous biotechnological and biopharmaceutical businesses have fast-tracked their R&D activities to develop a vaccine against COVID-19 disease. These factors are expected to boost the market growth in the coming years.
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