The global fetal bovine serum market size is expected to reach USD 4.56 billion by 2030, registering a CAGR of 14.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. One of the key market-driving factors includes the remarkable growth of the applications of cell & tissue culture in diagnostics, research, pharmaceutical, and biotech industries.
Factors contributing to the growth of the fetal bovine serum (FBS) market include the increasing use of cell-based assays in drug discovery and development, the rising demand for biologics and biosimilars, and the growing investment in regenerative medicine and stem cell research. However, there are concerns about the ethical and environmental implications of using FBS, and alternative serum-free media and supplements are being developed to meet these concerns.
The market is offering manufacturers lucrative growth prospects due to technological development and company portfolio expansion in the serum space. Fetal bovine serum is in exceptionally high demand as a result of the pace at which R&D operations are developing technology. Fetal bovine serum has a wide range of uses, which motivates the biopharmaceutical industry to create therapies and medications that use animals as their primary ingredient. The use of animal hosts for the production of drugs and vaccines has a number of benefits, including low-cost and high-volume production of the final product. This element is expected to fuel market expansion in the years to come.
Gather more insights about the market drivers, restrains and growth of the Global Fetal Bovine Serum Market
Furthermore, the pandemic has positively impacted the FBS market. It has led to a surge in demand for vaccines and therapeutics, which has increased the demand for FBS as an important component in cell culture media. This has led to further strain on the already limited supply of FBS. To address this shortage, companies are exploring alternative sources of animal serum and developing serum-free media for cell culture. Moreover, ethical concerns regarding the use of animal-derived products, including FBS, have increased during the pandemic. This has led to a growing demand for plant-based or synthetic alternatives to FBS. The development of such alternatives is still in the early stages, but it is likely to gain momentum in the coming years.
Fetal Bovine Serum Market Report Highlights
- Based on application, the vaccine production segment dominated the market with a share of 28.4% in 2022. The market is expected to dominate due to the increasing adoption of fetal bovine serum in cell-based research by the pharmaceutical and biotechnology industry
- By end-user, the pharmaceutical and biotechnology segment held the largest market share of 40.4% in 2022 owing to the wide usage of fetal bovine serum in developing new drugs and human & animal vaccines
- The segment of CMOs and CROs is expected to continue growing lucratively with a CAGR of 15.6% from 2023 to 2030, as the demand for outsourced manufacturing and research services is increasing in the biopharmaceutical industry
- North America dominated the global market with a 38.0% share in 2022, due to the increasing demand for fetal serum media and the presence of key players in the market
- Asia Pacific is anticipated to register the fastest CAGR of 15.6% from 2023 to 2030. This is due to the increasing investments in cell culture products in the region, especially in the emerging economies
List of key players in the Fetal Bovine Serum Market
- Thermo Fisher Scientific Inc.
- Sartorius AG
- Danaher Corporation
- Merck KGaA
- HiMedia Laboratories
- Bio-Techne
- PAN-Biotech
- Atlas Biologicals, Inc.
- Rocky Mountain Biologicals
- Biowest
Order a free sample PDF of the Fetal Bovine Serum Market Intelligence Study, published by Grand View Research.
