What Will The Serum Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s serum market report forecasts the serum market size to grow to $1.88 Billion by 2027, with a CAGR (compound annual growth rate) of almost 10%.
Learn More On The Serum Market Report 2023 – https://www.thebusinessresearchcompany.com/report/serum-global-market-report
Serum Market Size Forecast
The global serum market is expected to grow from $1.17 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global serum market size is expected to grow to $1.88 billion in 2027 at a CAGR of 9.9%.
North America held the largest serum market share.
Key Serum Market Driver – Rise In Awareness About Age-Related Skin Issues
According to the Cosmetic Executive Women (CEW), a non-profit organisation located in the United States that promotes the cosmetics, fragrance, and personal care industries, there were 943,500 monthly searches for aging-related skin care issues in the United States in the 12 months ending June 2021. As a result, increased awareness regarding age-related skin concerns is propelling the serum industry forward.
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Key Serum Market Trend – Product Innovation
Major serum market players are focusing on developing unique serum formulations for additional skincare and beauty uses, as well as gaining a competitive advantage in the industry. Galderma, a Swiss pharmaceutical business specialising in dermatological treatments and skin care products, for example, announced HA Immerse Serum, a new product addition to its ALASTIN Skincare range, in March 2022. HA Immerse Serum is designed to hydrate the skin on the surface while also assisting in the skin’s natural ability to create hyaluronic acid deep inside, resulting in fuller, more youthful-looking skin over time. ALASTIN’s unique Octapeptide-45 supports the skin’s capacity to naturally boost its own high molecular hyaluronic acid production deep inside the skin to deliver long-term skin plumping, anti-aging, and hydration effects inside the skin.
Serum Market Segment
1) By Type: Bovine Serum, Fetal bovine serum (FBS), Other Types
2) By Inactivation Technique: Heat Inactivated, Non-Heat Inactivated
3) By Application: Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Other Applications
Serum Market Major Players and Strategies
Major players in the serum market are Thermo Fisher Scientific Inc., Merck KGaA, Cytiva, Bio-Techne Corporation, Atlas Biologicals Inc., Rocky Mountain Biologicals, Takara Bio Inc., PAN-Biotech GmbH, Sartorius AG, Corning Incorporated, Bovogen Biologicals Pty Ltd., BIOWEST SAS, Caisson Labs Inc., and Gemini Bio Products.
Anzco Foods, a New Zealand-based meat manufacturer, paid an undisclosed sum for Moregate Biotech in April 2022. The acquisition broadens Anzco Foods’ providing portfolio to encompass healthcare products and services. Moregate Biotech is an animal serum and associated product producer situated in Australia.
The Serum Global Market Report 2023 covers regional data on serum market size, serum market trends and drivers, opportunities, strategies, and serum market competitor analysis. The countries covered in the serum market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Serum is the clear and liquid component of blood that remains after the removal of blood cells and clotting proteins. In cell culture applications, it is utilised as a supplement to the basal growth media.
View More Reports Related To The Serum Market –
Fetal Bovine Serum Global Market Report 2023
Dialysis Devices And Equipment Global Market Report 2023
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