Fetal Bovine Serum Market Size, Share, Growth Report 2032

Fetal Bovine Serum Industry Prospective:

The global fetal bovine serum market size was worth around USD 1,780.98 million in 2022 and is predicted to grow to around USD 5,327.95 million by 2030 with a compound annual growth rate (CAGR) of roughly 14.68% between 2023 and 2030.

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Fetal Bovine Serum Market: Overview

Fetal bovine serum (FBS) is a form of animal cell culture. It is derived from the blood of a bovine fetus. The process used in the collection of FBS occurs at the slaughterhouse in a closed system. The primary collection method does not include the use of anesthesia and involves cardiac puncture. Reports suggest that fetal bovine serum harvesting can be painful to the fetus thus raising wide-scale concerns over animal cruelty. The process of FBS collection is considered unethical by several animal and human welfare organizations. Fetal bovine serum has extensive applications in the pharmaceutical and research industries.

Since FBS is a rich protein source, it has applications in cell culture as a supplement to basal growth medium. Fetal bovine serum, as compared to other forms of serums, has shown higher acceptance in the research industry due to the presence of over 1000 components including hormones, cell growth factors, enzymes, carriers, energy sources, and proteins for transfer & binding. During the forecast period, the FBS industry is projected to grow rapidly however certain challenges can be expected.

Key Insights:

• As per the analysis shared by our research analyst, the global fetal bovine serum market is estimated to grow annually at a CAGR of around 14.68% over the forecast period (2023-2030)
• In terms of revenue, the global fetal bovine serum market size was valued at around USD 1,780.98 million in 2022 and is projected to reach USD 5,327.95 million, by 2030.
• The fetal bovine serum market is projected to grow at a significant rate due to the increasing application in vaccine development
• Based on application segmentation, cell culture media was predicted to show maximum market share in the year 2022
• Based on product type segmentation, stem cell was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Fetal Bovine Serum Market: Growth Drivers

Increasing application in vaccine development may propel the market growth rate

The global fetal bovine serum market is projected to grow owing to the increasing application of FBS in vaccine development and research projects. Fetal bovine serum is one of the most common components of cell culture used for vaccine development and mass development. FBS is used as a supplement in cell culture mainly because it acts as a supplier of hormones needed for cell growth and proliferation. It also provides other necessary components such as trace elements, nutrients, adherence, transport proteins, and extension factors.

The use of FBS helps vaccine developers create an environment that is suitable for cell growth with the help of detoxifying and stabilizing factors. The growing population rate across the globe in addition to the mounting pressure on the healthcare sector are the leading factors for higher use of fetal bovine serum. For instance, FBS is used for developing vaccines for Varicella, Adenovirus, measles, mumps, & rubella (MMR), and Rotavirus. Varicella, also known as chickenpox, is an acute infectious disease caused by varicella-zoster virus (VZV). It is one of the most common infectious diseases across the world.

As per Boston Children’s Hospital, more than 95% of Americans have contracted chickenpox once in their lifetime and nearly 4,000,000 citizens are infected annually. In 2018, SK Bioscience, a leading vaccine researcher, announced the launch of a new vaccine called ‘SKYVaricella for treating chickenpox. Vaccinations for extremely common and infectious diseases are given to children at early ages to prevent any serious effects in the future. The growing investments to ensure access to quality healthcare and medical care across the world will lead to higher demand for FBS in the coming future.

Fetal Bovine Serum Market: Restraints

Ethical concerns associated with the FBS sourcing method will restrict the market growth rate

The global fetal bovine serum market will be restricted due to the ethical concerns raised by international and domestic welfare organizations against the process involving fetal bovine serum derivation. The procedure deals with slaughtering pregnant cows since the serum has to be derived from the bovine fetus. In addition to this, since the process does not involve the use of anesthesia, it can be painful to the fetus. This has led to demands for developing alternate solutions in either the collection procedure or directly replacing FBS with other serums that are more animal-friendly.

Furthermore, people have raised doubts about the cultural impact of FBS. In certain religious sentiments do not allow the use of animal products in any form including vaccines. People belonging to these sections may not be comfortable with vaccines that are developed with the help of FBS thus refraining from getting vaccinated. Drug developers must be transparent in terms of vaccine ingredients and the process in which the vaccines are developed to generate higher confidence among the audience.

Fetal Bovine Serum Market: Opportunities

Growing investments in life sciences research may act as a growth opportunity for the FBS industry

The global fetal bovine serum market is projected due to rising investments in the life sciences research activities globally. In the last decade, research to understand existing diseases and predict future scenarios has grown at a rapid rate. Medical research units are working on developing treatment plans that have long affected human and animal health without a cure. For instance, cancer research is a leading example as it is considered the primary cause of medically-caused deaths worldwide.

In September 2023, Cancer Research UK announced that it would make an investment of £123 million in Scotland. The amount is the largest-ever investment in Scottish medical research history. In November 2023, Cancer Research Horizons, the innovation engine of Cancer Research UK, appointed two new advisory investors-in-residence to help generate a robust investment plan with better results. In November 2023, the Leukemia & Lymphoma Society (LLS) announced an investment of USD 65 million to be granted to 78 research teams. LLS is the world’s largest private fund provider for blood cancer research.

Growing investments in healthcare in emerging countries could create a higher demand for FBS

The global industry for fetal bovine serum is projected to witness higher growth in emerging countries mainly driven by increased focus on improving healthcare infrastructure. The regional governments are working to create better access to medical care including vaccinations against deadly diseases and developing in-house medical research ecosystems. In 2022, China spent nearly 7% of its gross domestic product on regional healthcare.

Fetal Bovine Serum Market: Challenges

Demand for animal-free serums and alternative treatments may limit market growth

The global fetal bovine serum market will be challenged by the increasing demand for serums for cell cultures that do not contain animal components. Additionally, there is a growing market for anima-based serums that are not as cruel as FBS procedures including human serum and equine serum. While each solution has specific applications, the research community is evolving rapidly and market players may face growth challenges.

Fetal Bovine Serum Market: Segmentation

The global fetal bovine serum market is segmented based on application, end-user, product type, and region.

Based on application, the global market is divided into cell-based research, cell culture media, drug discovery, vaccine development, and others. In 2022, the highest growth was observed in the cell culture media segment. It dominated more than 30% of the total revenue. Fetal bovine serum is considered an ideal supplement for cell culture procedures since it offers a safe and supportive environment. It is enabled with all the necessary components required for uninterrupted medical research related to cell culture procedures.

Based on end-user, the global fetal bovine serum industry segments are diagnostic labs, research & academic institutes, biotechnology & pharmaceutical industries, and others.

Based on product type, the global market segments are chromatographic, stem cell, dialyzed fetal bovine serum, charcoal stripped, and others. Around 34.45% of the segmental share was held by the stem cell segment. The modern medical research and health industries rely heavily on stem cells since it is anticipated to hold solutions for several modern-day critical diseases that are affecting the quality of life across the globe. Stem cell therapies are expected to deliver superior disease treatment results.

Fetal Bovine Serum Market: Report Scope

Fetal Bovine Serum Market: Regional Analysis

North America to lead the market with the highest growth rate

The global fetal bovine serum market will be led by North America during the forecast period. In 2022, it was the leading revenue generator in the global market. The US is projected to act as the dominant nation driven by the presence of several crucial vaccine research companies as well as the world-class healthcare infrastructure. In 2023, the US witnessed an increase of over 4% in terms of brand-name pharmaceutical manufacturing companies. On the other hand, it is also home to the world’s leading companies operating in the biomedical segment.

For instance, US-based Pfizer is known to manufacture more than 200 million Pfizer vaccine doses annually. It is also one of the largest vaccine suppliers in the international market. In July 2023, the company partnered with Flagship Pioneering, a biotechnology startup. Each company is expected to invest USD 50 million and develop 10 new drug candidates in the coming years. Asia-Pacific is the fastest-growing nation. China, India, and South Korea may act as the leading growth contributors. The growing investments in the regional healthcare and drug development infrastructure will act as primary regional growth drivers.

Fetal Bovine Serum Market: Competitive Analysis

The global fetal bovine serum market is led by players like:

• Merck KGaA (Sigma-Aldrich)
• Thermo Fisher Scientific
• Serana
• GE Healthcare
• Corning Incorporated
• Lonza Group
• HiMedia Laboratories
• Biowest
• Biological Industries
• Atlanta Biologicals
• Zhejiang Tianhang Biotechnology
• TCS Biosciences
• Hyclone
• Gibco
• PAN-Biotech.

The global fetal bovine serum market is segmented as follows:

By Application

• Cell-Based Research
• Cell Culture Media
• Drug Discovery
• Vaccine Development
• Others

By End-User

• Diagnostic Labs
• Research & Academic Institutes
• Biotechnology & Pharmaceutical Industries
• Others

By Product Type

• Chromatographic
• Stem Cell
• Dialyzed Fetal Bovine Serum
• Charcoal Stripped
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa