Fetal Bovine Serum Market to Hit $1.5 Billion by 2027
Transparency Market Research (TMR) has published a new report titled, ‘Fetal Bovine Serum Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global Fetal Bovine Serum Market was valued at US$ 910.6 Mn in 2018 and is projected to expand at a CAGR of 5.8% from 2019 to 2027.
Overview
- Fetal bovine serum (FBS) is used as a supplement to basal growth medium in cell culture because of its high content of embryonic growth promoting factors.
- The serum provides a wide variety of macromolecular proteins, low molecular weight nutrients, carrier proteins for water insoluble components, and other compounds necessary for in vitro growth of cells, such as hormones and attachment factors and also adds buffering capacity to the medium and binds or neutralizes toxic components.
- Fetal bovine serum (FBS)-based media remains the gold standard for MSC isolation and expansion for both basic research and clinical application and has been defined as common protocol by the Developmental Committee of the European Group for Blood and Marrow Transplantation (EBMT).
- North America dominated the global Fetal Bovine Serum Market in 2018 and the trend is anticipated to continue during the forecast period. Highly development of biopharmaceuticals and funding available from the government are expected to drive the market in North America.
- Asia Pacific is likely to be a highly lucrative market because of the research and development in the region and it is expected to expand at a high CAGR during the forecast period
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Rising consumption of fetal bovine serum in emerging markets drive the market
- There is a demand in emerging countries such as China, India, South Korea, and countries of the Middle East for fetal bovine serum market and it is increasing. China imported fetal bovine serum from the U.S. to fulfill the domestic demand.
- The consumption of fetal bovine serum imported from the U.S. by South Korea in 2015 stood at 20,000 liters, which is expected to increase in the next few years
- The increasing number of contract research organizations in Asia, especially China and India, is driving the demand for fetal bovine serum in the region. This, in turn, is expected to drive the global fetal bovine serum market during the forecast period.
Cell Culture Media Segment to Dominate Market
- Based on Application, the global Fetal Bovine Serum Market has been divided into Drug Discovery, Cell Culture Media, In vitro Fertilization, Human and Animal Vaccine production, Diagnostics and Others
- The Cell Culture Media segment dominated the global Fetal Bovine Serum Market in 2018 and the trend is projected to continue during the forecast period. Increase in use of Cell Culture Media to accelerate the growth of the segment.
- The research and development carried out in various region boost the Cell Culture Media segment market during the forecast period.
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Industry (pharma, biotech, etc.) to be Highly Lucrative Segment
- In terms of end user, the global Fetal Bovine Serum Market has been classified into Research & Academic Institutes and Industry (pharma, biotech, etc.).
- The Industry (pharma, biotech, etc.) segment dominated the Fetal Bovine Serum Market due to increased R&D and production of vaccines and rise in biopharmaceutical industry.
North America to Dominate Global Market
- In terms of region, the global Fetal Bovine Serum Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Fetal Bovine Serum Market in 2018, followed by Europe.
- North America dominated the global Fetal Bovine Serum Market in 2018 and the trend is anticipated to continue during the forecast period. Highly development of biopharmaceuticals and funding available from the government are expected to drive the market in North America.
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- The Fetal Bovine Serum Market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to rapid economic growth in developing economies such as India, China, Indonesia, Vietnam, South Korea, and the Philippines.
Competitive Landscape
- The global Fetal Bovine Serum Market is fragmented in terms of number of players. Key players in the global market include Merck KGaA, GE Healthcare, Thermo Fisher Scientific Inc., TCS Biosciences Ltd., HiMedia Laboratories, Atlanta Biologicals, Inc., PAN-Biotech, Rocky Mountain Biologicals, Bovogen Biologicals Pty Ltd., Tissue Culture Biologicals among others.
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