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FETAL BOVINE SERUM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Fetal Bovine Serum Market, By Application (Drug Discovery, In-vitro Fertilization, Vaccine Production, Cell-based Research, Diagnosis, and Others), By End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations (CRO), Academic And Research Institutes, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

  • Published In : Nov 2024
  • Code : CMI7483
  • Pages :162
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical

Fetal Bovine Serum Market Size and Trends

The fetal bovine serum market is estimated to be valued at USD 1.86 Bn in 2024 and is expected to reach USD 4.54 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.

Fetal Bovine Serum Market Key Factors

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Fetal bovine serum is extensively utilized in biomedical research, cell culture, biotechnology, and pharmaceuticals as a growth supplement to support cell proliferation until confluence. Key drivers for its use include its rich nutrient profile, which provides essential growth factors, hormones, and proteins necessary for optimal cell growth. However, challenges such as ethical concerns regarding animal welfare and the rising costs of fetal bovine serum (FBS) due to limited supply can restrain its availability.

Fetal Bovine Serum Market By Application

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Insights by Application - Drug Discovery Dominates Fetal Bovine Serum Demand Due to Vast Testing Needs

In terms of application, the drug discovery segment is estimated to contribute the highest market share of 43.2% in 2024, due to the immense testing requirements throughout the drug development process. Fetal bovine serum acts as a nutrient-rich growth supplement for cell cultures, which is extensively used in R&D activities like compound screening, toxicity evaluation, and pharmacodynamics studies.

Insights By End User- Pharmaceutical & Biotechnology Companies Dominate Fetal Bovine Serum Consumption Due to Their Large R&D Investments

In terms of end user, the pharmaceutical & biotechnology companies segment is expected to contribute the highest market share of 51.7% in 2024, due to their large R&D investments. Product development from target identification to marketing approval spans over a decade and requires extensive cell-based testing throughout this lengthy cycle. Fetal bovine serum acts as a growth stimulant for establishing and maintaining relevant cell lines, as well as executing critical assay work. Its protein constituents aid cellular metabolism, proliferation, and morphology needed for robust, reproducible results.

Regional Insights

Fetal Bovine Serum Market Regional Insights

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Regional Analysis: Fetal Bovine Serum Market

Dominating Region: North America

North America is expected to dominate the fetal bovine serum industry with the highest market share of 39.2% in 2024, due to factors such as the strong presence of leading biotechnology and pharmaceutical companies, which are large end users of fetal bovine serum.

Fastest-Growing Region: Asia Pacific

Asia Pacific region exhibits the fastest growth with 24.2% of the market share in 2024 in fetal bovine serum industry, fueled by increasing investments in healthcare infrastructure and expanding biomedical industries across economies such as China, India, and South Korea.

Fetal Bovine Serum Market Outlook for Key Countries

Continuous innovations in product offerings in the U.S.

The U.S. fetal bovine serum industry is dominated by key players like Thermo Fisher Scientific whose continuous innovations in product offerings cater to diverse research applications. Their advancements in serum quality and formulation have significantly strengthened the market, enhanced cell culture efficiency and supporting various biomedical research initiatives. This focus on innovation ensures that they remain competitive in a rapidly evolving biotechnology landscape.

Rising demand for contract research activities in China

The fetal bovine serum industry in China is driven by the rising demand for contract research activities and the active participation of major pharmaceutical companies like WuXi Biologics. These firms are expanding their capabilities in biopharmaceutical development, increasing the need for high-quality fetal bovine serum in cell culture and research applications.

Robust research capabilities in Japan

The fetal bovine serum industry in Japan is driven by robust research capabilities and the presence of leading suppliers like PAA Laboratories and Biological Industries. Their provision of high-quality serum products supports advancements in cell culture and biopharmaceutical development, crucial for the country's biotechnology sector.

India’s government initiatives aimed at boosting life sciences research

The India fetal bovine serum industry is supported by government initiatives aimed at boosting life sciences research. Additionally, local companies are emerging to meet the growing domestic demand for high-quality serum products, enhancing the country's capabilities in biotechnology and pharmaceutical development.

Market Concentration and Competitive Landscape

Fetal Bovine Serum Market Concentration By Players

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Top Strategies Followed by Fetal Bovine Serum Market Players

  • Established players focus heavily on R&D to innovate new products. Leading companies like Thermo Fisher Scientific invest over 10% of annual revenue in developing high-performance solutions. They collaborate with universities and labs on serum projects. Other major players like Merck KGaA rely on global expansion. They have distribution centers worldwide to reduce delivery time and augment after-sales support.
  • Mid-level players adopt cost-effective strategies to attract price-sensitive customers. Companies like Bio-techne develop affordable products without compromising on quality. They outsource non-core operations to optimize costs. Bio-Techne also teams up with local distributors who offer doorstep delivery.
  • Small-scale producers specialize in niche segments. PAA Laboratories focuses on raw materials for cultivating primary cells. It works closely with research groups on specialized formulations. Similarly, Valley Biomedical caters to cell therapy vendors. It develops custom sera using plant-derived alternatives to bovine products. Such firms leverage local alliances and global trade exhibitions to promote unique offerings.

Emerging Startups in the Fetal Bovine Serum Market

Some startups are developing innovative technologies. Cellaria Biosciences uses AI to analyze serum performance. Its cloud-based database helps scientists select suitable batches for experiments.

Other startups focus on sustainability. That raises cattle ethically and sustains rural livelihoods. It develops traceable, eco-friendly sera using natural feed and housing. Such firms contribute to the UN Sustainable Development Goals. Likewise, Green Life Source uses secondary and tertiary bovine cells left over from other industries. This reduces agricultural footprint and lowers production costs. Their contributions will boost environmental protection efforts in the long run.

Some startups address niche customer needs. Celsus Technologies creates scalable protocols for culturing multipotent stem cells. It partners with academia to commercialize efficient growth media. Likewise, Anthropic assists researchers exploring organ-on-a-chip models.

Fetal Bovine Serum Industry News

  • In December 2021, Thermo Fisher Scientific Inc., a company specializing in life sciences and clinical research, completed its acquisition of PPD, Inc., a leading provider of clinical research services to the pharmaceutical and biotech industries, for approximately US$ 17.4 billion. This strategic acquisition aims to enhance Thermo Fisher Scientific Inc.'s offerings by integrating PPD, Inc.'s extensive capabilities in clinical research, which include drug development, trial management, and laboratory services.

Key Takeaways from Analyst

The global fetal bovine serum industry is expected to experience steady growth over the forecast period driven by rising demand from biopharmaceutical companies for cell culture media. Fetal bovine serum acts as a growth supplement for cell culture and helps in maintaining optimal cell health and division.

Supply constraints stemming from limited bovine sources along with ethical concerns around animal testing could hamper the market growth to some extent. Alternatively, industry players are exploring plant-based and chemically defined serum-free cell culture media to reduce dependency on fetal bovine serum.

North America is expected to dominate the market. Asia Pacific is anticipated to be the fastest growing region attributed to increasing biologics production and growing R&D investment in vaccines and therapeutics.

Market Report Scope

Fetal Bovine Serum Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 1.86 Bn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 13.6% 2031 Value Projection: US$ 4.54 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Application: Drug Discovery, In-vitro Fertilization, Vaccine Production, Cell-based Research, Diagnosis, and Others
  • By End User: Pharmaceutical & Biotechnology Companies, Contract Research Organizations (CRO), Academic And Research Institutes, and Others 
Companies covered:

Merck KGaA, Thermo Fisher Scientific Inc., HiMedia Laboratories, Bio-Techne, PAN-Biotech, Atlas Biologicals, Inc., Rocky Mountain Biologicals, Cytiva, Sartorius AG, and SeraCare Life Sciences

Growth Drivers:
  • Advancements in life science research
  • Increasing demand for serum in cell culture media
Restraints & Challenges:
  • Availability of substitute products
  • High cost of fetal bovine serum

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Market Dynamics

Market Driver - Advancements in life science research

As scientific research advances, the demand for fetal bovine serum (FBS) grows due to its rich nutrient profile essential for cell growth. FBS supports innovative studies in pharmaceuticals, stem cell therapy, and regenerative medicine, facilitating complex 3D cell culture models that better mimic in vivo conditions. Its expanding roles in human tissue engineering and personalized therapy development indicate that research advancements relying on FBS-supplemented cell cultures will likely drive continuous demand for this vital growth supplement, especially in drug discovery and vaccine production.

Market Challenge - Availability of substitute products

One major challenge hindering the fetal bovine serum market is the availability of substitute products. While FBS is the gold standard for cell culture, it faces issues like supply volatility and ethical concerns. Researchers are increasingly exploring alternatives such as serum-free media, human serum, and recombinant proteins. The outbreak of BSE has also led to import restrictions, exacerbating supply issues. Developing substitutes can mitigate reliance on FBS, addressing both cost fluctuations and ethical considerations in research.

Market Challenge - Developments of serum-free and animal-component free cell culture media

The fetal bovine serum market is witnessing significant growth opportunities due to the development of serum-free and animal-component free cell culture media. Industry players are heavily investing in R&D to create FBS substitutes that offer comparable performance. The demand for alternatives is fueled by concerns over FBS price volatility and ethical production issues. New formulations enabling cell growth without serum, such as those for Chinese hamster ovary (CHO) cells, are gaining traction, reducing dependency on animal-derived components and opening new avenues for market participants.

Key Stakeholders of Market

What does Growth in the Global Fetal Bovine Serum Industry mean for Different Stakeholders?

The global fetal bovine serum industry has multiple players with varied designations and offers multiple opportunities based on their scope of operations.

Key Biotechnology Stakeholder

Opportunities Due to Fetal Bovine Serum Industry Growth

Laboratory Equipment Manufacturers

Expansion of markets for advanced laboratory instruments, including gene sequencers, mass spectrometers, and bioreactors.

Pharmaceutical Companies

Development of novel therapeutics, personalized medicine, and biopharmaceuticals, expanding market share and innovation pipelines.

Diagnostic Equipment Manufacturers

Growth in demand for advanced diagnostic tools, including PCR machines, CRISPR-based diagnostics, and next-generation sequencing tools.

Venture Capitalists in Biotech

Investment opportunities in biotech startups focusing on cutting-edge therapies, genetic engineering, and innovative diagnostic platforms.

Private Equity Investors

Potential to invest in biotech firms with scalable technologies, high growth potential, and opportunities for consolidation in the industry.

Biotech Consultants

Providing expertise in regulatory compliance, clinical trial management, and market strategy for biotech firms expanding their portfolios.

Research Institutions

Increased funding opportunities for research in genomics, bioinformatics, and molecular biology, leading to groundbreaking discoveries.

Healthcare Providers

Enhanced treatment options and personalized medicine approaches, improving patient outcomes and offering new service lines.

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Market Segmentation

  •  Application Insights (Revenue, USD Bn, 2019 - 2031)
    • Drug Discovery
    • In-vitro Fertilization
    • Vaccine Production
    • Cell-based Research
    • Diagnosis
    • Others
  •  End User Insights (Revenue, USD Bn, 2019 - 2031)
    • Pharmaceutical & Biotechnology Companies
    • Contract Research Organizations (CRO)
    • Academic And Research Institutes
    • Others
  • Regional Insights (Revenue, USD Bn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East
      • GCC Countries
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • North Africa
      • Central Africa
  • Key Players Insights
    • Merck KGaA
    • Thermo Fisher Scientific Inc.
    • HiMedia Laboratories
    • Bio-Techne
    • PAN-Biotech
    • Atlas Biologicals, Inc.
    • Rocky Mountain Biologicals
    • Cytiva
    • Sartorius AG
    • SeraCare Life Sciences

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About Author

Ghanshyam Shrivastava - With over 20 years of experience in the management consulting and research, Ghanshyam Shrivastava serves as a Principal Consultant, bringing extensive expertise in biologics and biosimilars. His primary expertise lies in areas such as market entry and expansion strategy, competitive intelligence, and strategic transformation across diversified portfolio of various drugs used for different therapeutic category and APIs. He excels at identifying key challenges faced by clients and providing robust solutions to enhance their strategic decision-making capabilities. His comprehensive understanding of the market ensures valuable contributions to research reports and business decisions.

Ghanshyam is a sought-after speaker at industry conferences and contributes to various publications on pharma industry.

Frequently Asked Questions

The global fetal bovine serum market is estimated to be valued at US$ 1.86 Bn in 2024 and is expected to reach US$ 4.54 Bn by 2031.

The CAGR of the fetal bovine serum market is projected to be 13.6% from 2024 to 2031.

Advancements in life science research and increasing demand for serum in cell culture media are the major factors driving the growth of the fetal bovine serum market.

Availability of substitute products and high cost of fetal bovine serum are the major factors hampering the growth of the fetal bovine serum market.

In terms of application, drug discovery segment is estimated to dominate the market revenue share in 2024.

Merck KGaA, Thermo Fisher Scientific Inc., HiMedia Laboratories, Bio-Techne, PAN-Biotech, Atlas Biologicals, Inc., Rocky Mountain Biologicals, Cytiva, Sartorius AG, and SeraCare Life Sciences are the major players.

North America is expected to lead the fetal bovine serum market in 2024.
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