The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Fetal Bovine Serum Global Market Report 2024, the fetal bovine serum market is expected to show promising growth in the forecast period.

The fetal bovine serum (FBS) market has experienced substantial growth in recent years and is projected to continue expanding robustly. This blog delves into the market’s recent growth, future projections, and key trends that are shaping the industry’s trajectory.

Recent Market Growth

Market Size and Growth Rate

• 2023 Market Size: $1,095.25 billion
• 2024 Market Size: $1,176.47 billion
• CAGR (2023-2024): 7.4%

Historical Growth Drivers

• Biopharmaceutical Industry Expansion: Increased demand for FBS in drug development and production.
• Rise in Cell-Based Therapies: Growing use of cell therapies requiring high-quality FBS.
• Quality and Consistency Requirements: Demand for reliable and consistent FBS for research and clinical applications.

Future Market Projections

Projected Growth

• 2028 Market Size: $1,644.06 billion
• CAGR (2024-2028): 8.7%

Future Growth Drivers

• Adoption of Cell Therapies: Increased utilization of cell-based therapies in treating various diseases.
• Advanced Therapeutics Emergence: Development of new therapeutic modalities requiring FBS.
• Focus on Animal-Free Alternatives: Exploration of alternatives to traditional FBS.
• Strategic Supplier-Customer Relationships: Strengthened collaborations to ensure steady supply and innovation.

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Major Trends Shaping the Market

Focus on Quality and Traceability

• Ensuring high standards of quality and traceability in FBS production.

Global Collaboration and Partnerships

• Increased partnerships and collaborations across global markets to enhance supply chains and research capabilities.

Strategic Mergers and Acquisitions

• Ongoing mergers and acquisitions driving market consolidation and innovation.

Customized Fetal Bovine Serum Products

• Development of tailored FBS products to meet specific research and clinical needs.

Regulatory Compliance and Ethical Sourcing

• Adherence to stringent regulatory standards and ethical sourcing practices.

Surging Demand in the Biopharmaceutical Sector

Driving Market Growth

• Increased Biopharmaceutical Demand: Rising demand for biopharmaceuticals, driven by advancements in biologics research.
• Reliance on FBS: FBS is a critical component in cell culture media for biopharmaceutical production.

Case in Point

• ProClinical Limited (2022): Sales for pharmaceuticals and vaccines segments reached $36.15 million, an 11% YOY increase, reflecting the growing biopharmaceutical market’s impact on FBS demand.

Leading Companies and Innovations

Key Market Players

• Thermo Fisher Scientific Inc.
• Merck KGaA
• GE Healthcare
• Corning Incorporated
• Cytiva
• VWR International
• Sartorius AG
• GenClone Inc.
• Gemini Bio-Products
• Access Biologicals LLC
• Nucleus Biologics
• ZenBio Inc.
• Biowest
• Axil Scientific Pte Ltd.

Focus on USDA-Approved Products

• Thermo Fisher Scientific’s Gibco Fetal Bovine Serum: A USDA-approved, heat-inactivated product suitable for various research applications, reflecting the industry’s commitment to quality and safety.

Market Segmentation

By Product

• Charcoal Stripped
• Chromatographic
• Dialyzed Fetal Bovine Serum
• Exosome Depleted
• Stem Cell
• Other Products

By Application

• Drug Discovery
• Cell Culture Media
• In Vitro Fertilization
• Human and Animal Vaccine Production
• Diagnostics
• Other Applications

By End-User

• Research and Academic Institutes
• Biotechnology and Pharmaceutical Industry
• Other End-Users

Regional Insights

Largest Market

• North America: Leading the FBS market in 2023.

Fastest Growing Region

• Asia-Pacific: Expected to record the fastest growth during the forecast period.

Conclusion

The fetal bovine serum market is on a significant growth trajectory, driven by the expanding biopharmaceutical industry, rising cell-based therapies, and increasing demand for quality and consistency in research and clinical applications. As the market continues to evolve, strategic partnerships, innovation in product offerings, and adherence to regulatory standards will be crucial in shaping its future.

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