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

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 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. 'Thermo Fisher Scientific Inc. (US)', 'Merck KGaA (Germany)', 'GE Healthcare (US)', 'Tissue Culture Biologicals (US)', 'HiMedia Laboratories Pvt. Ltd. (India)', '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)'

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.

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.

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.