The global fetal bovine serum market revenue was US$ 840 million in 2021. The global fetal bovine serum market revenue is forecast to reach US$ 1,375.53 million by 2030, growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022-2030.
A fetus' blood contains a liquid rich in nutrients called fetal bovine serum. Cell culture media commonly consist of fetal bovine serum (FBS), which derives from the fetuses of cows. It contains several nutritional and macromolecular factors necessary for cell growth. It also contains amino acids, sugars, lipids, hormones, and low levels of gamma globulin. Its uses are in various applications, including supplying essential nutrients and promoting cellular survival and growth in eukaryotic cell culture. Research, manufacturing, biotech drugs, and controlling vaccines for both humans and animals use this technology.
Factors Influencing Market Growth
Impact Analysis of COVID-19
A sudden increase in COVID-19 has significantly affected the growth of the global fetal bovine serum industry. The pandemic has increased the demand for fetal bovine serum, especially in biotechnological and biopharmaceutical facilities working on developing an effective vaccine against COVID-19. Growing demand for fetal bovine serum has driven the market's growth during the pandemic.
Regional Insights
In terms of geographic share, North America dominated the fetal bovine serum market in 2020 and is forecast to maintain its dominance during the forecast period. There has been a significant increase in R&D activities to develop antibody-based therapy for various diseases, and there is a well-established healthcare infrastructure in the region. In addition, market players in this region are increasing their investment in research and development activities related to drugs that require fetal bovine serum. These factors contribute to the growth of the fetal bovine serum market in the region.
Leading Competitors
The leading prominent companies profiled in the global fetal bovine serum market are:
Scope of the Report
The global fetal bovine serum market segmentation focuses on Application, End-User, and Region.
Segmentation based on Application
Segmentation based on End-User
Segmentation based on Region