Fetal Bovine Serum Market To Reach USD 1,936.9 Million By 2032, Says DataHorizzon Research
The fetal bovine serum market size was valued at USD 1,038.6 Million in 2023 and is expected to reach a market size of USD 1,936.9 Million by 2032 at a CAGR of 7.2%.
Fort Collins, Colorado, April 24, 2024 (GLOBE NEWSWIRE) —
The rise in investments in research and development drives the market growth.
The growing investment in research and development within the life sciences sector is a crucial driver for the fetal bovine serum market. As the National Institutes of Health (NIH) highlighted, substantial funding is allocated to biomedical research, with a significant portion directed towards basic and applied research involving cell culture techniques.
Fetal bovine serum (FBS) is a critical component in cell culture applications across various research disciplines. It is widely utilized in stem cell research, regenerative medicine, drug discovery, and other areas of life sciences research. FBS provides essential nutrients, growth factors, and hormones necessary for the growth and proliferation of cells in culture, making it indispensable for maintaining cell viability and functionality.
The increasing emphasis on understanding disease mechanisms and developing novel therapeutics has led to a surge in demand for fetal bovine serum in research settings. Researchers rely on FBS to support their investigations into disease pathology, drug efficacy, and potential therapeutic interventions. Additionally, advancements in cell-based assays and high-throughput screening techniques have further propelled the demand for FBS as researchers seek reliable and consistent cell culture reagents to support their experiments.
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Segmentation Overview:
The fetal bovine serum market has been segmented into application, end-user, and region.
Cell-based research is the leading application segment.
- Based on the market segmentation for fetal bovine serum by application, cell-based research is the largest segment in 2023. Fetal bovine serum is extensively used in various cell-based research applications, including basic research, stem cell research, and regenerative medicine.
Pharmaceutical and biotechnology is the leading end-user segment.
- Based on the market segmentation for fetal bovine serum by end-user, pharmaceutical, and biotechnology companies emerged as the largest segment in 2023. These companies heavily rely on fetal bovine serum to develop and produce biopharmaceuticals, such as monoclonal antibodies, recombinant proteins, and cell-based therapies.
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Fetal Bovine Serum Market Report Highlights:
- The fetal bovine serum market growth is anticipated at a CAGR of 7.2% by 2032.
- Growth in research and development activities in life sciences boosts market growth.
- North America is a dominant market for fetal bovine serum, and its growth is largely due to investments in pharmaceutical and biotechnology companies and advanced research infrastructure.
- Some prominent players in the fetal bovine serum market report include Thermo Fisher Scientific, Merck KGaA, GE Healthcare, Biological Industries, PAN-Biotech, Bovogen Biologicals, Rocky Mountain Biologicals, Tissue Culture Biologicals, Biowest, Corning Incorporated, Moregate BioTech, and Gemini Bio-Products.
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About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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Website: https://datahorizzonresearch.com/
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