Global fetal bovine serum market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Fetal bovine serum (FBS) is a media supplement used for cell culture and is derived from whole blood obtained from usual bovine fetuses collected from healthy cows at slaughterhouses. It is a byproduct of meat processing industries. The key component of FBS is bovine serum albumin.
The factors that are playing a major role in the growth of fetal bovine serum market are the growing demand from end-users and is easy for regulatory approvals. However, ethical issues during blood collection method and the environmental conditions may restrain the overall market in the years to come. The market is segmented based on application, end user, and region.
The market may be categorized based on applications like diagnostics, drug discovery, human and animal vaccine production, cell culture media, in vitro fertilization, and others that could be explored in fetal bovine serum in the forecast period. Cell culture media sector accounted for the significant share of the market in terms of value and volume and is estimated to lead the overall market in the years to come. The reason could be the rising cell culture media applications in fetal bovine serum.
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Based on the end-users, industry, research & academic institutes, and others could classify fetal bovine serum market in the forecast period. The industry sector comprises the pharma industry, biotech industry, and others. The industry sector accounted for the significant share of the market and is estimated to lead the overall market in the years to come. The reason could be the rising demand from biotech and pharma industries.
Globally, North America accounted for the significant share of fetal bovine serum industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the high demand from end-users and the high cost of fetal bovine serum. The United States is a major consumer of fetal bovine serum in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of fetal bovine serum in this region. The reason could be the infrastructural development of research centers in this region.
The key players of fetal bovine serum market are GE Healthcare, HiMedia Laboratories, Rocky Mountain Biologicals, Merck KGaA, Tissue Culture Biologicals, Bovogen Biologicals Pty Ltd., TCS Biosciences Ltd., and Atlanta Biologicals Inc. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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