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Serum Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The serum market has experienced swift growth in recent years. It is projected to increase from $1.29 billion in 2023 to $1.43 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.9%. This growth during the historical period can be linked to advancements in medical diagnostics, clinical research, drug development and testing, disease monitoring, and therapeutic applications.
What Are The Forecasts For The Global Serum Market Size And The Predicted Annual Growth Rates?
The serum market is anticipated to experience significant growth in the coming years, reaching $2.15 billion by 2028, with a compound annual growth rate (CAGR) of 10.6%. Factors contributing to this growth during the forecast period include advancements in precision medicine, the increasing demand for personalized healthcare, expanded applications in oncology, global health initiatives, and a growing geriatric population.
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What Are The Major Factors Driving The Growth Of The Serum Market?
The growing awareness of age-related skin concerns is expected to drive the growth of the serum market in the future. Age-related skin issues include conditions commonly experienced by older individuals, such as wrinkles and facial movement lines. Serums address these age-related skin problems by treating dullness, hyperpigmentation, dehydration, wrinkles, and loss of firmness. They also help to even out skin tone, lighten the complexion, reduce visible imperfections, and nourish the skin.
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Which Major Market Players Are Propelling the Serum Market?
Key players in the serum market include Merck Group, Thermo Fisher Scientific Inc., Danaher Corp, Corning Incorporated, VWR International LLC, Sartorius AG, Bio-Techne Corporation, Takara Bio Inc., Atlas Biologicals Inc., Proliant Health & Biologicals, Seracare Life Sciences Inc., Lampire Biological Labs Inc., Altogen Labs, Innovative Research Inc., Lee Biosolutions Inc., Bovogen Biologicals Pty. Ltd., Caisson Labs Inc., Gemini BioProducts Holding Inc., Valley Biomedical Products & Services Inc., Equitech-Bio Inc., Rocky Mountain Biologicals, PAN-Biotech GmbH, BIOWEST SAS, Moregate Biotech, Tissue Culture Biologicals, Kerafast Inc., Access Biologicals LLC, Animal Technologies Inc.
What Trends Are Shaping the Future of the Serum Market Size?
Leading companies in the serum market are concentrating on developing advanced solutions, including ultrasensitive biomarker detection, to gain a competitive advantage. Ultrasensitive biomarker detection refers to the capability to identify and measure biomarkers at very low concentrations, enabling earlier disease detection.
What Is the Segmentation of the Global Serum Market?
1) By Type: Bovine Serum, Fetal bovine serum (FBS), Other Types
2) By Inactivation Technique: Heat Inactivated, Non-Heat Inactivated
3) By Application: Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Other Applications
Regional Insights: North America's Dominance in the Serum Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Serum Market?
Serum is the clear liquid component of blood that remains after the removal of blood cells and clotting proteins. It is utilized as a supplement to the basal growth medium in cell culture applications.
The Serum Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Serum Market Report: Trends, Opportunities, Strategies, and More
The Serum Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into serum market size, serum market drivers and trends, serum competitors' revenues, and serum market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company has published more than 15,000 reports spanning 27 industries and over 60 regions. Our research is supported by 1.5 million datasets, thorough secondary research, and unique insights gained from interviews with industry experts. We offer ongoing and customized research services, featuring a variety of specialized packages designed to meet your specific needs, such as Market Entry Research, Competitor Tracking, Supplier & Distributor Packages, and many others.
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Oliver Guirdham
The Business Research Company
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