DUBLIN--(BUSINESS WIRE)--The "Fetal Bovine Serum Market- Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global fetal bovine serum market is anticipated to grow with a CAGR of nearly 9.1% during the forecast period.
The increase in demand from traditional users of serum and the advancement in the research and academic initiatives by the private and government sector are the major factors contributing towards the market growth. Fetal bovine serum is important for ground-breaking research in drug development and finds wide applications in cell-based pharmaceutical research. It is a key feedstock in pharmaceutical, diagnostics, biotechnology, diagnostic, and veterinary industries. Thus, expansion of these industries is anticipated to fuel the global fetal bovine serum market growth.
In addition, FBS is used as an additional media supplement for cell culture, owing to the presence of high content of embryonic growth-promoting factors. It is considered as the most effective growth promoter as compared to the other animal sera available for most cell culture systems. These facts are indicative of an increase in the use of fetal bovine serum, which is expected to fuel the market growth.
However, ethical and scientific concerns associated with the potential misuse of biotechnology research practices and dearth of skilled personnel restrict the fetal bovine serum market. In addition, the fetal bovine serum market is experiencing paradigm shift, due to significant rise in prices of FBS over the recent years, which acts as a key restraint.
Key Market Trends
The Cell Culture Segment is Expected to Witness a Healthy CAGR
- Based on product, the market is segmented into drug discovery, cell culture media, in vitro fertilization, human & animal vaccine production, diagnostics and others. The cell culture by application segment is expected to grow rapidly through the forecast period due to its high adoption as a additional supplement in media to provide optimum growth factors to the cultured cell, repeat purchase, and high affordability. This segment is projected to maintain its dominance in terms of growth during the study period.
- Based on product, bio-pharmaceuticals segment is expected to expand at a robust CAGR during the forecast period. This can be attributed to the significant increase in biotech R&D activities toward the introduction of novel bio-pharmaceuticals for the treatment of various diseases, which in turn is fueling the segment's growth.
The North America Region Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America is leading owing to the presence of major market players. Increased funding by government agencies, rise in focus to develop bio-pharmaceuticals and the presence of leading clinical diagnostics companies in North America have fueled the regional market.
Asia Pacific is projected to be a lucrative region for the fetal bovine serum market. Increasing healthcare funding and government initiatives to increase R&D activities are the major factors aiding regional growth. Moreover, the adoption of innovative & advanced technology and a large focus on clinical research drives the regional growth.
- Bovogen Biologicals Pty Ltd
- GE Healthcare
- HiMedia Laboratories
- Merck KGaA
- R&D Systems, Inc
- Rocky Mountain Biologicals
- TCS Biosciences Ltd.
Thermo Fisher Scientific
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Fetal Bovine Serum for Research Studies
4.2.2 Expansion of Biopharmaceutical Industry
4.2.3 Increase in Investments and Funding for Research Interventions
4.3 Market Restraints
4.3.1 High Cost and Chances of Viral Presence in the Product
4.3.2 Decrease in Cattle Herd Population Due to the Increased Demand of Dairy and Meat Products
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Charcoal Stripped
5.1.3 Dialyzed Fetal Bovine Serum
5.1.4 Exosome Depleted
5.1.5 Stem Cell
5.2 By Application
5.2.2 Cell Culture Media
5.2.3 Human & Animal Vaccine Production
5.3 By End-User
5.3.1 Research & Academic Institutes
5.3.2 Biotechnology & Pharmaceutical Industry
5.4.1 North America
5.4.4 Middle-East and Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ostx89