It is estimated that the global Fetal Bovine Serum Market Size is expected to register a CAGR ~ 8% during the forecast period of 2018–2023. Fetal bovine serum is a key feedstock in pharmaceutical, diagnostics, biotechnology, diagnostic, and veterinary industries.
The global fetal bovine serum market is expected to witness tremendous growth owing to the increase in demand from traditional users of serum is also expected to drive the market. Other key factors such as the untapped market opportunities in emerging countries, growing investments by government organizations are contributing towards the growth of the market. However, in the previous years, the serum industry is witnessing product shortage due to uncertain climatic conditions along with rising demand for beef and dairy product that has led to a radical drop in cattle herd population are few factors restraining the growth of the market.
On the regional basis, the fetal bovine serum market in the Americas is predicted to dominate the market during the forecast period. The North American region holds substantial share in the global market. This owes to the high consumption and pricing of fetal bovine serum in the region. Also, numerous major players are based in the US, owing to this the country has become a center for innovation in the fetal bovine serum market.
Currently, the global fetal bovine serum market is dominated by numerous players. The major players in this market are involved in new product launches, strategic partnerships and collaborations to increase their product portfolio. For instance, In January 2018, Bio-Techne announced the acquisition of Atlanta Biologicals, with the acquisition aimed at expanding the product portfolio of the company and service capabilities.
The global fetal bovine serum market is segmented on the basis of product type, application, and end user.
Some of the key players in the global fetal bovine serum market are HiMedia Laboratories, Merck KGaA, Bovogen Biologicals Pty Ltd, Atlanta Biologicals Inc., TCS Biosciences Ltd, Tissue Culture Biologicals, Rocky Mountain Biologicals, GE Healthcare, Thermo Fisher Scientific, Bio-Techne, PAN-Biotech, Access Biologicals, Animal Technologies Inc., Nucleus Biologics, Biological Industries, Corning Incorporated, J R Scientific Inc., Moregate Biotech, Wisent Inc, Zhejiang Tianhang Biotechnology Co. Ltd., among others.
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The global fetal bovine serum market, as in the report released by MRFR, has been segmented by application, product type, and end user. These segments hold various market dynamics and factors known for their influential contributions in furthering the market concerns. A deep look into these could reveal various pointers that can help companies in planning their moves.
By product type, the report on the fetal bovine serum market can be segmented into Charcoal Stripped, Dialyzed Fetal Bovine Serum (FBS), Chromatographic, Stem Cell, Exosome Depleted, and others. The stem cell segment has sub-segments like embryonic stem cells qualified, and mesenchymal stem cell qualified.
By application, the report discussing the fetal bovine serum market can be segmented into cell culture media, drug discovery, human & animal vaccine production, diagnostics, in-vitro fertilization, and others. The drug discovery segment would increase its intake due to the recent changes in market dynamics.
By end user, the report studies the market on the basis of pharmaceutical, biotechnology, research & academic institutes, and others. The pharmaceutical sector is expected to provide substantial market back up to the global market.
The Americas has a chance to observe high growth in the market using which it would continue its domination. The regional market is slated to benefit from the presence of the US and Canada. These two countries are known for their extensive market contributions as their pharmaceutical sectors are providing various supports to the regional market. Europe would benefit from its extensive research and development facilities. Countries from the region would invest substantially in developing new drugs. In the Asia Pacific region, the inclusion of latest technologies in various sectors to boost industrial growth would ease the path for market percolation.
The global market for fetal bovine serum is all set to benefit from the strategic moves controlled by Merck KGaA, HiMedia Laboratories, Atlanta Biologicals Inc., Bovogen Biologicals Pty Ltd, Tissue Culture Biologicals, TCS Biosciences Ltd, RThermo Fisher Scientific, Rocky Mountain Biologicals, GE Healthcare, PAN-Biotech, Bio-Techne, Nucleus Biologics, Access Biologicals, Animal Technologies Inc., Corning Incorporated, J R Scientific Inc., Biological Industries, Wisent Inc, Moregate Biotech, Zhejiang Tianhang Biotechnology Co. Ltd., and others. MRFR listed these companies and included their recent contributions to the market to understand the momentum of the market. This would also help in gauging market reactions to various pointers and as its result, strategy-devising processes would become simpler.
In March 2020, Wyoming witnessed a crisis in the viral transport medium to support the testing of various COVID-19. A recent find in the region has shown that the fetal bovine serum could be a safe medium to work with under such a distressful condition. This would increase the demand for the product and help the market expand. With the rising number of COVID-19 patients in the US, this could be a much-needed handy solution for doctors.
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