Adult Bovine Serum Market exhibits significant growth driven by Increasing Cell Culture Adoptions in Life Sciences Industry

Adult Bovine Serum Market Demand


 

Adult bovine serum (ABS) provides many nutrients and growth factors required for cell survival and growth in culture medium. It is one of the most commonly used blood-derived products for cell culture applications in biotechnology and pharmaceutical industries. ABS supports the growth of various cell types and maintains cells viability and morphology. The nutrients, vitamins, and proteins present in serum help in cell adhesion, proliferation, and differentiation. ABS is derived from bovine blood collected from adult cattle.

The Global Adult Bovine Serum Market is estimated to be valued at US$ 145.13 Bn in 2024 and is expected to exhibit a CAGR of 10 % over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Adult Bovine Serum are Flex, TE Connectivity, Sanmina, Jabil, Celestica, Plexus, and Tecomet, among others. These players are focusing on new product launches, partnerships, and strategic collaborations to expand their market share. For instance, in 2021, Thermo Fisher Scientific launched a new line of ABS designed to improve cell culture performance and reproducibility.

The growing Adult Bovine Serum Market Demand for ABS from biopharmaceutical companies and research organizations is a major factor driving the market. ABS is widely used in vaccine production, stem cell research, therapeutic antibody development, and cancer research. Additionally, rising R&D spending on cell-based research for developing novel biologics and therapeutics is also propelling the demand.

Globally, North America dominates the adult bovine serum market due to increased funding for cell-based research by governments and private organizations. However, Asia Pacific is expected to witness the highest growth over the forecast period. This is attributed to rising investments by international players to establish manufacturing and R&D facilities in countries such as China and India.

Market Key Trends

Serum-free medium replacing animal-derived products is one of the key trends witnessed in the adult bovine serum market. Increasing concerns over undefined components, batch-to-batch variability, and potential risks of contamination from ABS have prompted end-users to switch to alternative animal-free and serum-free media. Players are developing novel formulations to address these issues and make cell culture procedures more defined and reproducible. They are utilizing plant-derived components, defined recombinant proteins, and synthetic peptides for developing innovative serum-free media. This is expected to restrict the market growth of ABS over the forecast period.

Porter's Analysis
Threat of new entrants: The threat is low due to the high capital requirement and the need for technical expertise.

Bargaining power of buyers: The bargaining power of buyers is low as the market has many suppliers and the switching cost for buyers is low.

Bargaining power of suppliers: The suppliers have moderate power due to concentration in few regions.

Threat of new substitutes: The threat of substitutes is low as there are limited substitutes for Adult Bovine Serum.

Competitive rivalry: The rivalry is high due to many players operating in the market.

Geographical Regions
North America currently holds the largest share of the global Adult Bovine Serum market in terms of value owing to technological advancements and growing biopharmaceutical industry in the region. Asia Pacific is expected to be the fastest growing region during the forecast period due to increasing government funding in healthcare and biomedical research. Countries like China and India are expected to offer lucrative opportunities for market players.

Get More Insights on- Adult Bovine Serum Market

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

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