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The Fetal Bovine Serum (FBS) Market size is estimated to grow by USD 294.16 million at a CAGR of 5.25% between 2023 and 2028.
A stem cell has several applications in research and the biopharmaceutical industry. The efficiency of cellular reprogramming for induced pluripotent stem cells contributes to its popularity. Furthermore, it contains a variety of tissue origins, making it better than others, such as human serum. Its numerous uses drive the growth of the FBS market as tissue development requires the use of FBS. Furthermore, FBS has advantages in serum cell culture, such as stem cell differentiation, morphology, cell proliferation and expansion, and clonal efficiency. Such factors are propelling the demand for FBS, which will drive the growth of the fetal bovine serum market during the forecast period
Technavio has segmented the market into Application, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the biopharmaceuticals segment will be significant during the forecast period. This is due to the increase in the adoption of biopharmaceutical drugs and the increase in the prevalence of chronic diseases such as cancer, arthritis, and cardiovascular disease across the globe, which is expected to drive growth in the fetal bovine serum (FBS) market during the forecast period.
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The biopharmaceuticals were the largest segment and were valued at USD 333.71 million in 2018. Biopharmaceutical drugs have transformed the treatment of a wide range of diseases and are now utilized in practically every field of medicine. The biopharmaceuticals market has grown significantly faster than the overall drug market in recent years, and given the high demand for these medications, it is thought to have significant room for future dynamic expansion.FBS, which contains altered active pharmaceutical ingredients with enhanced efficacy, will play a vital role in the development of biopharmaceuticals. This review highlights recent progress in the field of biopharmaceutical development and issues regarding the registration of innovative biopharmaceutical medicines. Such factors are expected to fuel the growth of the biopharmaceuticals segment which fosters the growth of global fetal bovine serum during the forecast period.
The development and manufacturing of pharmaceuticals and biopharmaceuticals companies depend heavily on fetal bovine serum (FBS), which supports cell culture techniques that are necessary for pre-clinical testing, research, and manufacturing procedures. However, ongoing research and development of substitute technologies and sustainable sourcing methods are required due to the ethical issues and limitations of FBS. Pharmaceutical and biopharmaceutical companies can guarantee access to high-quality FBS and push the boundaries of medicine for the benefit of patients globally by working with reputable FBS vendors and investigating alternatives. Thus, the above-mentioned factors drive the pharmaceuticals and biopharmaceutical companies segment, which in turn boosts the growth of the global fetal bovine serum market during the forecast period.
Contract research organizations (CROs), which offer services to pharmaceutical and biopharmaceutical companies, are essential to drug development and discovery. FBS is essential to the provision of several CRO services, such as: Pre-clinical Drug Testing: To facilitate the testing of possible medication candidates in cell culture models, contract research organizations (CROs) use fetal bovine serum, which enables them to assess a drugs toxicity, safety, and efficacy prior to clinical trials. Clinical trials are required for all new drugs and most imported drug registrations. In China, trials are also necessary for all generic biological products and certain generic drug applications. This will further increase the demand for the contract research organization segment, which, in turn, boost the growth of the fetal bovine serum market during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The fetal bovine serum (FBS) market in North America is expected to have a steady growth rate during the forecast period, mainly due to the growth of the pharmaceutical industry in the region. Factors such as rising investment by the government, a rise in the number of clinical diagnostics businesses, and the growing focus on developing biopharmaceuticals are promoting the growth of the fetal bovine serum (FBS) market in North America. The federal government in the US is playing an important role in supporting R&D efforts, leading to scientific breakthroughs and new technologies in the development of FBS. Furthermore, there has been an ongoing trend of mergers and acquisitions (M&A) among the companies in the fetal bovine serum market.
For instance, in December 2021, Thermo Fisher Scientific Inc. announced its complete acquisition of PPD Inc. for USD 17.4 billion to expand its market reach. The growing competition among vendors has increased the number of M&A activities over the past few years. With the increasing demand for FBS from various end-users such as biopharma, biotech medical, pharmaceutical, and others, vendors are opting for M&A activities and strategic alliances to expand their market reach and customer base. Such factors will increase the market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Animal Technologies Inc. - The company offers fetal bovine serum such as fetus torso, fetus, and fetus torso with organs.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
Rising adoption of stem cell applications is notably driving the market growth. A stem cell has several uses in research and the biopharmaceutical industry. The efficiency of cellular reprogramming for induced pluripotent stem cells contributes to its popularity. Furthermore, it contains a variety of tissue origins, making it better than others, such as human serum. Its numerous uses drive the growth of the fetal bovine serum market as tissue development requires the use of FBS.
Furthermore, FBS has advantages in serum cell culture, such as stem cell differentiation, morphology, cell proliferation and expansion, and clonal efficiency. Such factors are propelling the demand for the FBS, which will drive the growth of the global fetal bovine serum market during the forecast period.
Increased focus on disease management is an emerging trend shaping the market growth. Cattle are susceptible to various diseases, some of which can have significant economic and health impacts on the livestock industry. Effective veterinary treatment systems are essential for the diagnosis, treatment, and prevention of these diseases, which can affect not only individual animals but also entire herds. Effective disease management in cattle involves both preventive measures, such as vaccination and biosecurity, and control measures to treat and manage diseases when they occur.
Moroever, disease management leads to healthier cattle herds. Healthy animals are more productive, have better growth rates, and produce higher-quality meat or dairy products. Farmers have a vested interest in maintaining the health of their cattle, which drives the demand for effective treatment systems, which is expected to have a positive impact on fetal bovine serum market growth. Such factors are expected to drive the market growth during the forecast period.
Regularity hurdle associated with animal drug development is a significant challenge hindering the market growth. Animal healthcare drugs have to go through a rigorous approval process conducted by regulatory agencies, such as the US Food and Drug Administration (FDA). This process involves extensive testing to demonstrate safety and efficacy. Manufacturers of animal healthcare drugs need to adhere to good manufacturing practices (GMP) standards to ensure the quality, safety, and consistency of their products. Regulations often require reporting of adverse events associated with the use of animal drugs. This helps monitor safety and identify potential issues.
Moreover, these regulations are intended to ensure that animal drugs are developed and manufactured to high standards of safety, efficacy, and quality. Compliance with these regulations is crucial for the responsible development, approval, and use of medications in animal healthcare. Thus, stringent regulation on drug development will hamper the growth of the fetal bovine serum market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fetal Bovine Serum Market Customer Landscape
The fetal bovine serum market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Fetal Bovine Serum Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.25% |
Market growth 2024-2028 |
USD 294.16 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.97 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, Denmark, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Animal Technologies Inc., Atlas Biologicals Inc., Bio Techne Corp., Corning Inc., Danaher Corp., GeminiBio, GeneTex Inc., Grifols SA, HiMedia Laboratories Pvt. Ltd., Itoham Yonekyu Holdings Inc., Merck KGaA, MP Biomedicals Inc., Nucleus Biologics, PAN Biotech, Rocky Mountain Biologicals, Sartorius AG, TCS Biosciences Ltd., Thermo Fisher Scientific Inc., Tissue Culture Biologicals, and Celtic Molecular Diagnostics |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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