USD 1.57 billion
Fetal Bovine Serum Market Size, Share, Growth Analysis, By End-user(Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Research & Academic Institutes, Other End Users), By Application(Biopharmaceutical Production, Monoclonal antibodies, Vaccines production, Other therapeutic proteins), By Type(Serum-free Media, CHO Media, HEK 293 Media, BHK Media), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2208 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
108
|Figures:
76
Fetal Bovine Serum Market Insights
Global Fetal Bovine Serum Market size was valued at USD 1.57 billion in 2022 and is poised to grow from USD 1.79 billion in 2023 to USD 5.15 billion by 2031, by rising at a CAGR of 14.1% during the forecast period (2024-2031).
The primary purpose of the global fetal bovine serum market is to meet the growing demand for high-quality cell culture supplements in biomedical research and development. Several factors contribute to the growth of the global fetal bovine serum market. The increasing investments in research and development activities across the biotechnology and pharmaceutical sectors drive the demand for FBS. Secondly, the rising prevalence of chronic diseases and the need for effective therapeutic solutions necessitate extensive cell-based research, thus increasing the demand for FBS. The global fetal bovine serum market faces several challenges. One of the significant challenges is the variability in quality and composition of FBS batches, which can impact experimental reproducibility and reliability of research outcomes. The global fetal bovine serum market presents opportunities for growth and innovation. The development of serum-free and chemically defined media formulations as alternatives to FBS opens avenues for market players to cater to the demand for animal component-free cell culture solutions.
The global fetal bovine serum market plays a crucial role in supporting biomedical research and cell culture applications. While ethical concerns, regulatory restrictions, and variability in quality pose challenges, the market presents opportunities for innovation and the development of alternative solutions. The increasing demand for cell-based research, regenerative medicine, and biologics drives the market, emphasizing the importance of high-quality FBS in advancing scientific discoveries and therapeutic development.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical & Biotechnology Companies
Fastest Growth
Contract & Academic Research Organizations
Growth Rate
14.1% CAGR
Global Fetal Bovine Serum Market ($ Bn)
Country Share for North America Region (%)
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Fetal Bovine Serum Market Segmental Analysis
The global fetal bovine serum market is segmented on the basis of end-user, application, and region. Based on end-user, the market is segmented into pharmaceutical & biotechnology companies, contract & academic research organizations. By application, the market is segmented into drug discovery, in-vitro fertilization, vaccine production, cell-based research, diagnostics, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fetal Bovine Serum Market Analysis by End-user
In 2022, the pharmaceutical and biotechnology companies segment dominated the global fetal bovine serum market with a market share of 40.4%. This is primarily attributed to the growing adoption of fetal bovine serum in drug development processes. The rising prevalence of chronic diseases, such as cancer, has led to increased research activities, and pharmaceutical and biotechnology companies are utilizing fetal bovine serum for these purposes, driving the growth of this segment.
The Contract Research Organizations (CROs) segment is projected to exhibit the highest compound annual growth rate (CAGR) of 15.6% from 2023 to 2030. The adoption of CROs provides numerous benefits, which contribute to their rapid growth in the market. These benefits include expanded global reach, access to necessary resources, and the ability to delegate research responsibilities effectively. As a result, manufacturers are increasingly outsourcing their research programs to CROs instead of conducting them in-house. This trend has propelled the growth of the CROs segment, creating significant opportunities and establishing a strong position in the market.
Fetal Bovine Serum Market Analysis by Application
In 2022, The vaccine production segment emerged as the dominant force in the global fetal bovine serum (FBS) market generating significant revenues of USD 448.6 million. FBS plays a crucial role as a supplement in the manufacturing of vaccines. Its composition, rich in growth factors and nutrients, promotes cell growth and proliferation, which are essential for the production of specific types of vaccines. The outbreak of the COVID-19 pandemic led to intensified research activities for vaccine development, resulting in a sudden surge in the demand for FBS in vaccine manufacturing and research.
The in-vitro fertilization (IVF) segment is projected to become the most lucrative segment in the market. It is expected to achieve a robust compound annual growth rate (CAGR) of 16.5% from 2023 to 2030. FBS provides the necessary nutrients, hormones, and growth factors crucial for the optimal growth and development of embryos. It is often used in conjunction with other supplements, including human serum albumin, to improve embryo culture conditions and enhance embryo quality. With the increasing number of IVF cycles conducted worldwide, the demand for FBS is anticipated to witness substantial growth in the coming years.
Global Fetal Bovine Serum Market Size By End User (%)
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Fetal Bovine Serum Market Regional Insights
In 2022, North America emerged as the dominant region in the global fetal bovine serum (FBS) market, capturing a significant share of 38.0%. This growth can be attributed to the increasing government expenditure on research and development (R&D) activities. The United States, in particular, is renowned for having one of the strongest R&D ecosystems globally. Notably, the biotechnology industry in the U.S. witnessed a substantial 94% growth in R&D expenditure from 2016 to 2021, reaching a total of USD 88.6 billion, as reported in a July 2022 news article. Additionally, factors such as the growing focus on developing biopharmaceutical products, the presence of established market players, and robust healthcare infrastructure further contribute to the market's expansion in the region.
Asia Pacific is expected to experience the highest growth rate, with a projected compound annual growth rate (CAGR) of 15.6% from 2023 to 2030. This growth is primarily driven by the increasing number of biopharmaceutical manufacturers in developing countries like India, South Korea, and China. These companies are rapidly expanding by catering to domestic and regional markets. Additionally, the presence of a growing number of academic institutes and clinical research organizations within the region further supports market growth.
Global Fetal Bovine Serum Market Size By Region
- Largest
- Fastest
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Fetal Bovine Serum Market Dynamics
Fetal Bovine Serum Market Drivers
Increasing Biopharmaceutical Research and Development
- The biopharmaceutical industry witnessed significant growth, with a focus on developing innovative therapeutic solutions. FBS, being an essential component in cell culture-based research, found extensive utilization in drug discovery, preclinical testing, and biologics production. The increasing investment in biopharmaceutical R&D activities drove the demand for FBS.
Growing Demand for Cell-Based Therapies
- Cell-based therapies, such as CAR-T cell therapy, gained prominence in 2022. These therapies utilize modified human cells to treat various diseases. FBS played a vital role in the expansion and maintenance of these therapeutic cells during the manufacturing process. The increasing demand for cell-based therapies drove the need for high-quality FBS.
Fetal Bovine Serum Market Restraints
Ethical Concerns and Alternatives
- The use of animal-derived products, including FBS, raised ethical concerns among some researchers and regulatory bodies. The need to reduce or eliminate animal-derived components in cell culture systems led to the exploration of alternative serum-free and defined media formulations. The availability of such alternatives posed a challenge to the growth of the FBS market.
Variability in Quality and Supply
- The quality and consistency of FBS batches were variable, leading to challenges in experimental reproducibility. The industry faced the task of ensuring a consistent supply of high-quality FBS with minimal lot-to-lot variation. Maintaining a stable supply chain of FBS was a key challenge for manufacturers and end-users.
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Fetal Bovine Serum Market Competitive Landscape
The global fetal bovine serum market is highly competitive and characterized by the presence of several key players. These companies strive to gain a competitive edge by focusing on product quality, expanding their product portfolios, and engaging in strategic partnerships and acquisitions. Thermo Fisher Scientific Inc., a leading player in the market, offers a wide range of FBS products under its Gibco brand, emphasizing quality and consistency to meet the diverse needs of researchers. Merck KGaA, another major player, provides a comprehensive portfolio of FBS products, including serum-free alternatives, catering to the growing demand for animal component-free culture systems. GE Healthcare is actively involved in expanding its FBS manufacturing capabilities and product offerings to meet the rising global demand. Tissue Culture Biologicals, Atlanta Biologicals Inc., and HiMedia Laboratories Pvt. Ltd. are prominent players focusing on delivering high-quality FBS products and addressing specific customer requirements. These companies emphasize stringent quality control measures to ensure the reliability and consistency of their FBS offerings.
Fetal Bovine Serum Market Top Player’s Company Profiles
- Merck KGaA (Germany)
- GE Healthcare (US)
- Atlanta Biologicals Inc. (US)
- Sigma-Aldrich Corporation (US)
- Rocky Mountain Biologicals (US)
- PAN-Biotech GmbH (Germany)
- Bovogen Biologicals Pty Ltd. (Australia)
- Biowest SAS (France)
- Biological Industries Israel Beit Haemek Ltd. (Israel)
- Corning Incorporated (US)
- Sera Laboratories International Ltd. (UK)
- Caisson Laboratories Inc. (US)
- Hyclone Laboratories Inc. (US)
- Lanzhou Minhai Biotechnology Co., Ltd. (China)
- Moregate BioTech (UK)
- Gemini Bio-Products (US)
- Lampire Biological Laboratories (US)
Fetal Bovine Serum Market Recent Developments
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In January 2024, pixelRo, a spin-off from Samsung Electronics' internal venture nurturing program C Lab, is preparing for CES 2024. At the event, the company plans to disclose its revolutionary technologies that are revolutionizing the digital eye care sector.
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In January 2024, Aleph Farms, an Israeli-cultivated meat producer, accomplished a significant milestone by obtaining the world's first regulatory approval for cell-cultured beef. This accomplishment represents a groundbreaking advancement in the alternative protein sector.
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In August 2023, Omeat, the pioneering cultivated meat company that emerged from stealth mode, introduced its innovative and slaughter-free process to the public. Now, it stands as one of the first revenue-generating cultivated meat companies.
Fetal Bovine Serum Key Market Trends
- Shift towards Animal Component-Free Culture Systems: The industry observed a trend towards the development and adoption of animal component-free culture systems. Researchers and manufacturers sought to reduce the reliance on FBS and transition to defined media formulations that do not contain animal-derived components. This trend aimed to address ethical concerns, enhance experimental reproducibility, and simplify regulatory compliance.
- Rising Demand in Asia Pacific: The Asia Pacific region showcased substantial growth potential in the FBS market. The region witnessed a growing number of biopharmaceutical manufacturers, academic institutes, and clinical research organizations. This increasing presence and activities within the region contributed to the rising demand for FBS, driven by both domestic and international research and development initiatives.
Fetal Bovine Serum Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global fetal bovine serum market analysis, the increasing demand for FBS in vaccine production, especially in light of the COVID-19 pandemic are the key growth drivers. The rapid development and production of vaccines have led to a surge in the demand for FBS to support cell culture-based processes. Additionally, the rising prevalence of chronic diseases like cancer has fueled the need for extensive research and development activities, driving the adoption of FBS by pharmaceutical and biotechnology companies. The global FBS market continues to experience growth due to its vital role in cell culture-based research and biopharmaceutical production. While ethical concerns and the exploration of alternatives pose challenges, the increasing demand for FBS in vaccine production, regenerative medicine, and IVF procedures, along with the growing presence of biopharmaceutical manufacturers in the Asia Pacific region, provide promising opportunities for market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.57 billion |
| Market size value in 2031 | USD 5.15 billion |
| Growth Rate | 14.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fetal Bovine Serum Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fetal Bovine Serum Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fetal Bovine Serum Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fetal Bovine Serum Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fetal Bovine Serum Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fetal Bovine Serum Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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