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The global fetal bovine serum market, valued at $796.28 million in 2020, is anticipated to reach $1,375.55 million by 2030, with a projected CAGR of 5.45% from 2021 to 2030. Fetal bovine serum (FBS) is a crucial component in animal cell culture media, derived from bovine fetuses, providing essential nutrients for cell growth and used in various applications, including biotech drug manufacturing and vaccine production.
The COVID-19 pandemic positively impacted the fetal bovine serum market due to its extensive use in vaccine production and in-vitro cell-culture preparation in the healthcare sector. Despite challenges such as ethical concerns and the availability of alternatives like chemically defined media, the market is driven by increased culture media consumption in developing countries, rising R&D activities in biopharmaceuticals, and growing investments in research interventions globally.
However, concerns about potential misuse of biotechnology research practices, a shortage of skilled personnel, and a significant rise in FBS prices pose challenges to market growth. The market is experiencing a paradigm shift due to increased demand and decreased production, leading to higher prices. Nevertheless, untapped potential in emerging markets offers lucrative opportunities.
The impact of COVID-19 on the fetal bovine serum market remains positive, as FBS is extensively used in in-vitro cell-culture preparation and vaccine production. The market is expected to grow rapidly due to the compatibility of FBS-based viral transport media with various clinical tests for COVID-19.
Market segmentation includes applications (biopharmaceuticals, human & animal vaccines, others), end-users (biotechnology & pharmaceutical industries, academic institutes & others), and regions (North America, Europe, Asia-Pacific, LAMEA). The pharmaceuticals segment dominates revenue, driven by the adoption of biopharmaceutical drugs and increased prevalence of chronic diseases.
Key market players, such as Danaher (Cytiva), Merck KGaA (Sigma Aldrich), HiMedia Laboratories Pvt. Ltd, Bio-Techne, and Thermo Fisher Scientific Inc., play a significant role. North America holds the largest market share, attributed to increased R&D activities and a well-established healthcare infrastructure.
The study provides stakeholders with insights into market trends, future estimations, and investment opportunities. Profiles and growth strategies of key players are analyzed for a comprehensive understanding of the competitive landscape in the global fetal bovine serum market.
The global fetal bovine serum market, valued at $796.28 million in 2020, is anticipated to reach $1,375.55 million by 2030.
The global market is projected to grow at a CAGR of 5.45% during the forecast period, 2023-2030.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65493
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