Emphasis on Application (Biopharmaceuticals, Human & Animal Vaccines, Others); End-User (Biotechnology & Pharmaceutical Industries, Academic Institutes, Others); and Region/Country
The Fetal Bovine Serum market is expected to grow at a strong CAGR of around ~8% during the forecast period 2022-2030. The fetal bovine serum (FBS) market is a rapidly growing industry that is valued at billions of dollars. FBS is a crucial component in the development of vaccines, drugs, and other biopharmaceutical products, and it is widely used in research applications such as cell culture. In recent years, there has been a growing demand for FBS, driven by the increasing demand for biopharmaceutical products and the need for alternative sources of FBS.
Some of the major players operating in the market include Thermo Fisher Scientific Inc., Sartorius AG, Danaher (Cytiva), Merck KGaA (Sigma Aldrich), HiMedia Laboratories, Bio-Techne, PAN-Biotech, Atlas Biologicals, Inc., GE Healthcare, Sera Scandia (Biowest). Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst application, the biopharmaceuticals segment dominated the market in 2021”
Based on application, the market is segmented into biopharmaceuticals, human & animal vaccines, and others. The biopharmaceuticals segment is expected to be the largest segment of the fetal bovine serum (FBS) market, driven by the increasing demand for biopharmaceuticals and the increasing use of FBS in their production. Biopharmaceuticals are complex proteins that are used to treat a wide range of medical conditions, including cancer, autoimmune diseases, and genetic disorders. The production of biopharmaceuticals typically involves the use of animal-derived products, such as FBS, as they are critical for the growth and maintenance of cells used in cell culture.
“Amongst end-user, the biotechnology and pharmaceutical industries segment held the majority share of the market in 2021”
Based on end-user, the market is segmented into biotechnology & pharmaceutical industries, academic institutes, and others. The biotechnology and pharmaceutical industries are expected to continue to be the largest segments of the FBS market in the coming years, due to the ongoing demand for biopharmaceuticals and the increasing use of FBS in the production of these products. Additionally, the biotechnology and pharmaceutical industries are expected to continue to invest in research and development, which is likely to drive demand for FBS.
Fetal Bovine Serum Market Report Coverage
“North America dominated the Fetal Bovine Serum market in 2021”
North America dominated the Fetal Bovine Serum market in 2021. The North America region is expected to lead the fetal bovine serum (FBS) market, driven by the strong demand for biopharmaceuticals and the well-established biotechnology industry in the region. Additionally, the North America region has a large number of established FBS manufacturers and distributors, which is expected to support the growth of the market. Recently, in January 2022, Thermo Fisher Scientific, a leading provider of life science solutions, announced the launch of a new FBS product called Invitrogen FBS Plus. This product is intended to provide a high-quality FBS solution for research applications, and it is expected to help Thermo Fisher Scientific expand its presence in the FBS market. Another recent development in the FBS market is the increasing use of alternative products, such as recombinant FBS, in the production of biopharmaceuticals. Recombinant FBS is produced using genetically engineered cells and is intended to be a safer and more ethical alternative to traditional FBS. This trend is expected to continue to gain momentum in the coming years, which may impact the growth of the traditional FBS market.
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Research Methodology for the Fetal Bovine Serum Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Fetal Bovine Serum market were the three major steps undertaken to create and analyze the adoption of Fetal Bovine Serum in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Fetal Bovine Serum market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Fetal Bovine Serum market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Fetal Bovine Serum market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Fetal Bovine Serum market. Further, we conducted factor analysis using dependent and independent variables such as application and end-user of the Fetal Bovine Serum market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Fetal Bovine Serum market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Fetal Bovine Serum market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Fetal Bovine Serum market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the application and end-user in the global Fetal Bovine Serum market.
The main objective of the Global Fetal Bovine Serum Market Study
The current & future market trends of the global Fetal Bovine Serum market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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