Global Adult Bovine Serum Market, by Origin (North America-sourced, Australia-sourced, New Zealand-sourced, and Others (South America-sourced, etc.)), by Application (Commercial Purpose and Research Purpose), by End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, and Others (Diagnostics Laboratories, Forensic Labs, etc.)), and by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America) is estimated to be valued at US$ 119.3 Million in 2022 and projected to exhibit a CAGR of 5.6% during the forecast period (2022-2030).
Governments of various countries, non-profit organizations, and some market players such as GlaxoSmithKline plc. etc. are involved in initiatives and campaigns to increase the widespread use of vaccines, which would thereby increase the use of adult bovine serum (ABS) in vaccine development.
For instance, in October 2021, the World Health Organization (WHO) advised that it is necessary that children in Sub-Saharan Africa and other places with moderate to high P. falciparum malaria transmission receive the RTS,S/AS01 (RTS,S) malaria vaccine developed by GlaxoSmithKline (GSK) plc., a science-led global healthcare company. The proposal is based on the findings of a current pilot program in Ghana, Kenya, and Malawi, which has reached over 900,000 children since its inception in 2019.
Moreover, in December 2021, USAID (United States Agency for International Development) Administrator Samantha Power announced the launch of the Initiative for Global Vaccine Access (Global VAX), a new whole-of-government effort to speed up global efforts to get COVID-19 vaccines into arms and improve international coordination to identify and quickly overcome access barriers to save lives, with a focus on countries in Sub-Saharan Africa. Global VAX pulls together a whole-of-government effort, with the U.S. already committing over US$ 1.3 billion to vaccine preparation.
Global Adult Bovine Serum Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has affected various industries globally. Key players operating in the global adult bovine serum market are facing major challenges on various fronts due to the COVID-19 pandemic. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported globally, as of July 5, 2022, are approximately 546,357,444 confirmed cases with 6,336,415 deaths.
The COVID-19 pandemic has affected the economy in three main ways: by directly affecting the production and demand; by creating disruptions in distribution channels; through its financial impact on firms and financial markets.
Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources which are required to ensure safety in hospitals and provide treatment to patients with diseases other than the COVID-19. This has also impacted the overall healthcare market negatively.
One of the biggest challenges due to the COVID-19 pandemic is limited supply of raw materials required to manufacture biopharmaceuticals and other reagents due to irregularities in the transportation system.
Browse 35 Market Data Tables and 29 Figures spread through 184 Pages and in-depth TOC on “Global Adult Bovine Serum Market” - Forecast to 2030, Global Adult Bovine Serum Market, by Origin (North America-sourced, Australia-sourced, New Zealand-sourced, and Others (South America-sourced, etc.)), by Application (Commercial Purpose and Research Purpose), by End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, and Others (Diagnostics Laboratories, Forensic Labs, etc.)), and by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America) - Forecast to 2030
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Market players are expanding their manufacturing facilities, which is expected to increase their market presence and create opportunities, and in turn, drive market growth over the forecast period. For instance, in March 2021, FUJIFILM Corporation, an operating company of FUJIFILM Holdings Corporation, announced the selection of Holly Springs, North Carolina, United States as the location for its new large-scale Cell Culture Biopharmaceutical Contract Development and Manufacturing Organization (CDMO) Facility in the U.S.
Key Takeaways of the Global Adult Bovine Serum Market:
- Global adult bovine serum market is expected to exhibit a CAGR of 5.6% during the forecast period, owing to increasing prevalence of tuberculosis. For instance, adult bovine serum is used in the production of tuberculosis (TB) vaccine. According to the World Health Organization (WHO), in 2020, approximately 1.5 million individuals died from tuberculosis (including 214,000 people with human immunodeficiency virus (HIV)). TB is the world's 13th biggest cause of mortality and the second leading infectious killer (behind HIV/ Acquired immunodeficiency syndrome (AIDS)).
- Among origin, North America-sourced segment is expected to dominate the global adult bovine serum market in the forecast period, owing to increasing availability of adult bovine serum sourced from the U.S., which is expected to drive the segment growth over the forecast period. Merck KGaA, a multinational science and technology company, offers adult bovine serum of U.S. origin that is sterile-filtered and is suitable for cell culture.
- Among application, research purpose segment is estimated to account for the largest share in 2022 and is expected to retain its dominance over the forecast period, owing to increasing production of adult bovine serum for cell culture purposes. For instance, Capricorn Scientific, a Germany-based manufacturer of cell culture products for research, diagnostics, and bioprocess offers adult bovine serum (ABS) in 100 ml and 500 ml of volume in bottles.
- Major players operating in the global adult bovine serum market include HiMedia Laboratories, Sartorius AG, Thermo Fisher Scientific, Auckland BioSciences Ltd., Moregate Biotech, Bovogen Biologicals, Merck KGaA, Capricorn Scientific GmbH, Gemini Bio, ROCKY MOUNTAIN BIOLOGICALS, Otto Chemie Pvt. Ltd, CellSera Australia, Serana Europe GmbH, TRINA BIOREACTIVES AG, and WISENT BIOPRODUCTS.
