The global fetal bovine serum market size was US$ 851 million in 2021. The global fetal bovine market is forecast to grow to US$ 1,381 million by 2030 by growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
Fetal bovine serum is a by-product of the meat processing industry, acquired from a cow fetus. Due to its high nutritional and macromolecular components, it is used as a supplement.
COVID-19 Impact Analysis
The COVID-19 positively influenced the fetal bovine serum market. Fetal bovine serum is widely used in in-vitro cell-culture preparation. In addition, it is also used in vaccine production, which positively influenced the market.
The rising cases of COVID-19 have surged the demand for fetal bovine serum. It became essential to look over health during the pandemic. Thus, the demand for fetal bovine serum also increased.
Regional Analysis
North America is forecast to dominate the global fetal bovine serum market in terms of revenue. The growth of the regional fetal bovine serum market is attributed to the growing number of R&D activities that demand novel methods to develop antibodies. In addition, the growing prevalence of diseases in the region will surge the growth of the fetal bovine serum market.
The fetal bovine serum market will also gain traction due to high medical and healthcare expenditure in the region.
Factors Influencing the Market
Fetal bovine serum finds its applications in the development of eukaryotic cell culture. It offers the required amount of essential nutrients, which is a significant growth factor driving the growth of the entire market.
The global fetal bovine serum market is also propelled by the growing research and development related to fetal bovine serum. Furthermore, the introduction of novel biopharmaceuticals will gain high traction in the coming years. As a result, the global fetal bovine serum market will grow significantly.
The growth of the biopharmaceutical industry will propel the fetal bovine serum industry forward. Moreover, the rising number of investments and funding will escalate the growth of the fetal bovine serum market.
However, ethical and scientific concerns related to the misuse of biotechnology research procedures may limit the fetal bovine serum market growth.
Competitors in the Market
Market Segmentation
The global fetal bovine serum market segmentation focuses on Type, Application, End-User, and Region.
The fetal bovine serum market has been segmented based on type –
The fetal bovine serum market has been segmented based on application –
The fetal bovine serum market has been segmented based on the end-user –
The fetal bovine serum market has been segmented based on region
