ADULT BOVINE SERUM MARKET ANALYSIS

Adult Bovine Serum MarketSize and Trends

Global adult bovine serum market is estimated to be valued at US$ 119.3 million in 2022 and expected to reach US$ 185.1 million by 2030, witnessing a CAGR of 5.6% over the forecast period (2022-2030).

Increasing demand for biopharmaceuticals and vaccines is expected to drive growth of the global adult bovine serum market.

Biopharmaceutical is a medicinal product that is derived from biological sources such as animals, humans, and microorganisms using biotechnology. They are made using stem cells, mammalian cells, etc. or through tissue culture methods. Tissue culture methods make use of cell culture medium, which has many important components that maintain the integrity of the cell culture and provide nutrients and signals for the manufacturing of therapeutic recombinant molecules or biopharmaceuticals. One such component of cell culture is adult bovine serum (ABS). ABS is commonly used to supplement basal cell culture media to boost growth and proliferation of multiple cell types.

Over the years, demand for biopharmaceuticals and vaccines has been increasing, and this has led to an increase in demand for adult bovine serum in culture medium. For instance, according to the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), 2021, a trade association that represents pharmaceutical companies all over the world, there were 2,740 drugs in development for cancer, 1,535 for immunology, 1,498 for neurology, and 1,213 for infectious diseases in 2020. According to the same source, in 2018, the research-based biopharmaceutical industry spent US$ 179 billion on research and development of biopharmaceuticals.

Increasing availability of adult bovine serum sourced from different sources is expected to drive growth of the global adult bovine serum market.

Increasing availability of adult bovine serum sourced from New Zealand by key market players serum is expected to aid in the market growth over forecast period

For instance, Thermo Fisher Scientific, a U.S.-based supplier of scientific instrumentation, reagents, and consumables, offers Gibco Bovine Serum of New Zealand origin, collected from cattle typically 12-24 months of age. This serum provides exceptional value for basic cell culture, specialty research, and other diagnostic tests.

Moreover, Bovogen Biologicals, a firm dedicated to research, development, manufacturing, and delivery of high quality animal serums, provides sterile adult bovine serum of New Zealand origin, which is used as a general component in growth media for tissue and cell culture, as well as a research or diagnostic test reagent.

Global Adult Bovine Serum Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe. The coronavirus (COVID 19) pandemic and consequent lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. Supply chain and manufacturing activities have been disrupted globally, due to lockdowns implemented by governments of countries, restricted movement, and other COVID-19 safety precautions. However, demand for adult bovine serum is expected to increase during the pandemic, as ABS has applications in vaccine production.

However, manufacturing sites, which are based in worst hit countries, have been affected severely due to severe shortage of medical resources and raw materials. This has led to global supply chain disruption.

The U.S. Food and Drug Administration (FDA) continues to monitor the supply chain. The Center for Drug Evaluation and Research (CDER) Drug Shortage Staff in 2020 asked manufacturers to evaluate their entire supply chain of various products, including cell culture media, reagents, and other equipment such as centrifuge, etc. Which in future is expected to improve the supply chain of healthcare products.

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