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 Serum Global Market Report 2024, the serum market is expected to show promising growth in the forecast period.

The serum market has been experiencing rapid growth and transformation, driven by advancements in various applications. This blog explores the factors contributing to this growth, key trends, and the major players shaping the future of the serum market.

Market Size and Growth Rates

• Current Market Size: The serum market grew from $1.29 billion in 2023 to $1.43 billion in 2024, at a compound annual growth rate (CAGR) of 10.9%.
• Projected Market Size: Expected to reach $2.15 billion by 2028, with a CAGR of 10.6%.

Drivers of Market Growth
Historical Period Drivers

• Medical Diagnostics: Increased use of serum in diagnostic tests.
• Clinical Research: Expanding clinical research activities requiring serum.
• Drug Development and Testing: Serum’s critical role in developing and testing new drugs.
• Disease Monitoring: Enhanced monitoring capabilities using serum.
• Therapeutic Applications: Broader use in therapeutic treatments.

Forecast Period Drivers

• Precision Medicine Advances: Growth driven by personalized treatment approaches.
• Rise in Personalized Healthcare: Increased demand for tailored healthcare solutions.
• Expanded Applications in Oncology: Greater use of serum in cancer treatment.
• Global Health Initiatives: Worldwide health programs boosting serum usage.
• Increasing Geriatric Population: Growing elderly population requiring serum for various health issues.

View More On The Serum Market Report 2024 – https://www.thebusinessresearchcompany.com/report/serum-global-market-report

Key Trends in the Market
Adoption of Customizable Serum Solutions

• Personalized Formulations: Customizable serums catering to specific skin and health needs.

Use of Fermented Ingredients for Skin Health

• Innovative Ingredients: Incorporation of fermented ingredients for enhanced skin benefits.

Introduction of CBD-Infused Serums

• CBD Integration: Growing popularity of CBD-infused serums for their therapeutic properties.

Application of Niche Ingredients Such as Retinol Alternatives

• Retinol Alternatives: New ingredients providing similar benefits to retinol with fewer side effects.

Emphasis on Inclusive Beauty and Diverse Formulations

• Diverse Products: Formulations catering to a wide range of skin types and tones.

Increasing Awareness of Age-Related Skin Issues Fuels Market Growth

• Age-Related Skin Conditions: Awareness about conditions like wrinkles, hyperpigmentation, and dehydration is increasing.
• Search Trends: According to the Cosmetic Executive Women (CEW), there were 943,500 monthly searches for aging-related skin care issues in the USA for the 12 months ended June 2021.
• Serum Benefits: Serums are effective in treating these conditions, driving market growth.

Major Companies in the Serum Market
Prominent players in the serum market include:

• Merck Group
• Thermo Fisher Scientific Inc.
• Danaher Corp
• Corning Incorporated
• VWR International LLC
• Sartorius AG
• Bio-Techne Corporation
• Takara Bio Inc.
• Atlas Biologicals Inc.
• Proliant Health & Biologicals
• Seracare Life Sciences Inc.
• Lampire Biological Labs Inc.
• Altogen Labs
• Innovative Research Inc.
• Lee Biosolutions Inc.

Innovated Products Pioneering Skincare Advancements
Product Innovation

• Galderma’s HA Immerse Serum: Launched in March 2022, this serum hydrates the skin and enhances the production of hyaluronic acid, resulting in youthful skin. It features ALASTIN’s patented Octapeptide-45 for long-term plumping and anti-aging effects.

Strategic Acquisitions

• Anzco Foods’ Acquisition of Moregate Biotech: In April 2022, Anzco Foods acquired Moregate Biotech, expanding its portfolio to include healthcare products and services.

Market Segmentation
The serum market is segmented based on:

1. Type: Bovine Serum, Fetal Bovine Serum (FBS), Other Types
2. Inactivation Technique: Heat Inactivated, Non-Heat Inactivated
3. Application: Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Other Applications

Regional Insights

• North America: The largest region in the serum market in 2023.

Conclusion
The serum market is witnessing rapid growth, driven by advances in medical and therapeutic applications, precision medicine, and increasing awareness of age-related skin issues. With ongoing innovation and strategic expansions, the market is set to continue its upward trajectory, offering enhanced solutions for health and skincare.

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