(MENAFN- Straits Research) Report Description Market Synopsis
The global fetal bovine serum market is expected to grow at a CAGR of 8.2% during the forecast period, i.e., 2019–2027.
Swelling Research and Development of Cell Culture Impels the Global Fetal Bovine Serum Market
A fetal bovine serum (FBS) is the liquid fraction extracted from fetal calves, depleted cells, fibrin, and clotting factors. FBS contains many nutritional and macromolecular elements that are necessary for cell proliferation. It is mostly utilized in eukaryotic cell culture, where it supplies a variety of vital nutrients and growth factors that help cells survive and proliferate.
The market is being driven by increased government and private sector investments in research and development, particularly in medication, and the rising prevalence of various chronic and rare diseases. According to the United States Food and Drug Association (FDA), cancer is responsible for over 70% of deaths in low and middle-income countries. Further, cancer is the highest cause of death globally, with 9.6 million deaths in 2018. It drives the need for research and production of drugs globally to counter the rising cases of cancer.
As it supports the survival and growth of numerous cell lines at a low cost, fetal bovine serum (FBS) is the most extensively used growth supplement for cell culture. The increase in demand from conventional serum consumers, as well as advancements in research and academic endeavors by the private and public sectors, are the main drivers of market expansion. Fetal bovine serum is essential for cutting-edge drug development research, and it has a wide range of uses in cell-based biopharmaceutical research. The pharmaceutical, biotechnology, and veterinary industries all use the fetal bovine serum as a feedstock.
Rapid technological improvements in developing countries such as India and China, and enormous technological advancements in fetal bovine serums in industrialized countries, drive the market forward. The technological developments facilitate better research environments and resources for further utilization of fetal bovine serum in various ways. In 2017, the global fetal bovine serum market was worth USD 731.6 million.
Surge in Culture Media Usage in Emerging Countries is Driving the Market Growth
The rapid increase in culture media consumption in developing nations worldwide is one of the key factors driving the fetal bovine serum market's growth and demand. In addition, the rising demand from conventional serum users, the expanding number of contract research companies, and the rapid growth of biopharmaceuticals and government financing boost the market's growth. Similarly, the increased R&D activities aimed at the launch of new biopharmaceuticals are likely to impact the fetal bovine serum demand.
In vitro testing of vaccines and antivirals usually necessitates the use of a culture media in which the targeted virus or bacteria is cultivated—and the response is measured. The pandemic resulted in the research and manufacturing of 19.8 billion covid vaccines globally. The pharmaceutical industry's increased focus on research and development is driving up demand for culture media, which is, in turn, driving up demand for fetal bovine serum.
Impact of COVID-19
Many nations are suffering due to the pandemic's impact, and they continue to face a severe cost on their economy and healthcare systems due to the high transmission rate and lack of treatment. They halted trade with other countries and imposed travel restrictions, causing big corporations' market capitalizations to plummet worldwide. However, the situation is steadily improving. Since biopharmaceutical innovators are at the forefront of in vitro research and development in the pursuit of vaccines and antivirals, the present COVID-19 outbreak has a favorable impact on market growth.
Segmental Analysis of Fetal Bovine Serum Market
The global market for fetal bovine serums is divided into four categories: product, end-users, temperature range, and regions.
The market is divided into charcoal-stripped, chromatographic, dialyzed fetal bovine serum (FBS), exosome depleted, stem cell, and others based on the product. Embryonic stem cells and mesenchymal stem cells are two types of stem cells that are qualified.
The fetal bovine serums market is divided into drug discovery, cell culture medium, in vitro fertilization, human and animal vaccine production, diagnostics, and others, depending on the application. According to the Centers for Disease Control and Prevention (CDC), 51.8 % of U.S. adults had at least one chronic ailment in 2018, and 27.2 % had several chronic conditions. As a result, there is a large number of patients who are constantly seeking therapeutic molecules. This encourages the usage of cell culture for drug development and has a direct impact on the cell culture media segment's CAGR. Because of the growing use of cell culture and the rising prevalence of rare and chronic diseases, drug discovery and cell culture media are predicted to expand at the fastest CAGR.
The fetal bovine serums market is divided into pharmaceutical companies, biotech and biopharma, research and academic institutes, and CROs in the end-user segment. The industry segment is predicted to grow at the fastest rate between 2019 and 2026 because of the rising demand for fetal bovine serum from the pharmaceutical and biotechnology industries.
Stem Cells Account for the Fastest Market Growth
Stem cells have various uses in research and biopharmaceutical business; thus, the market value for stem cells is the largest compared to other products. The significant demand for the product is due to the efficacy of cellular reprogramming for induced pluripotent stem cells.
As it requires a fetal bovine serum cell line for tissue development, the stem cell's broad range of applications is likely to stimulate segmental expansion. FBS's advantages in serum cell culture, such as its ability to differentiate stem cells, morphology, cell growth, and clonal efficiency, also boost its usage.
Regional Overview
Increased Government Funding Fuels the Market Growth in North America
Due to the existence of giant market players, North America is the leading region. The regional market was fueled by rising government financing, prominent clinical diagnostics corporations, and the increased focus on developing biopharmaceuticals in North America.
Due to highly developed economies and the availability of improved technology, the market is likely to rise significantly. Fetal bovine serums are widely employed to insulate infrastructures used for storing volatile chemicals. A large amount of chemical trading, particularly in the U.S., is predicted to give the fetal bovine serums industry a considerable boost.
According to a report published by the Congressional Research Service (2020), the U.S. government has spent more than USD 133 billion on research and development (R&D). The United States federal government is a primary supporter of research and development, which has resulted in scientific advances and new technology.
Europe is expected to become the world's second-largest market for fetal bovine serums due to major pharmaceutical and biotech companies in the region, such as Sanofi, Pfizer Inc, Roche Pharmaceuticals, etc.
Further, due to the increased population and growing pharmaceutical companies in various emerging economies such as China, India, Japan, and South Korea, Asia-Pacific is expected to be the fastest-growing region in the market.
Key Competitive Players in the Global Fetal Bovine Serum Market
Some of the key players in the global Fetal Bovine Serums market are Thermo Fisher Scientific Inc., Merck KGaA, Atlanta Biologicals Inc., Tissue Culture Biologicals, HiMedia laboratories, Bovogen Biologicals Pty Ltd., Rocky Mountain Biologicals, TCS Biosciences Ltd., PAN-Biotech, GE Healthcare, among others.
Recent Developments by the Key Players
April 2021- Thermo Fisher Scientific Inc. and PPD Inc. announced a definitive agreement under which Thermo Fisher will acquire PPD for USD 17.4 billion.
March 2021- Merck KgAA announced it would expand a single-use assembly production unit at its Life Science Center in Molsheim, France, with USD 28 million investments.
Global Fetal Bovine Serum Market: Segmentation
By Products
- Charcoal Stripped
- Chromatographic
- Dialyzed Fetal Bovine Serum (FBS )
- Exosome Depleted
- Stem Cell
- Embryonic Stem Cells Qualified
- Mesenchymal Stem Cell Qualified
- Others
By Applications
- Drug Discovery
- Cell Culture Media
- In-vitro Fertilization
- Human and Animal Vaccine production
- Diagnostics
- Others
By End-Users
- Pharmaceutical Companies
- Biotechnology and Biopharmaceuticals
- Research and Academic Institutes
- Contract Research Organizations (CROs)
- Others
By Region
- Americas
- Europe
- Asia-Pacific
- The Middle East and Africa
Frequently Asked Questions (FAQs) The Global Fetal Bovine Serum Market is expected to grow at a
CAGR of 8.2% during the forecast period, i.e., 2019–2027. The Fetal Bovine Serum (FBS) segment is expected to be leading segments in Fetal Bovine Serum (FBS) Market during the forecast period. In 2017 Global Fetal Bovine Serum Market was valued at USD 731.6 million. The rapid increase in culture media consumption in developing nations worldwide is one of the key factors driving the fetal bovine serum market's growth and demand. North America is expected to hold the highest market share in Fetal Bovine Serum Market.
Thermo Fisher Scientific Inc., Merck KGaA, Atlanta Biologicals Inc., Tissue Culture Biologicals, HiMedia laboratories, Bovogen Biologicals Pty Ltd., Rocky Mountain Biologicals, TCS Biosciences Ltd., PAN-Biotech, GE Healthcare, among others are the top players in Fetal Bovine Serum Market.
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