Adult Bovine Serum Market is Estimated to Witness High Growth Owing to Rising Demand from Pharmaceutical and Biotechnology Industries
Adult bovine serum refers to blood serum derived from adult cows that is commonly used in the biotechnology and pharmaceutical industries for cell culturing applications. It provides growth-promoting supplements for a variety of cells lines in culture. Adult bovine serum is a rich source of essential nutrients, attachment factors, and other proteins required to support cell growth. Some key applications of adult bovine serum include cell culture applications in vaccine production, monoclonal antibody production, production of therapeutics, and cell line development and banking. The global adult bovine serum market is estimated to be valued at US$ 145.13 Bn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 to 2031.
Market Dynamics:
The rising demand from the pharmaceutical and biotechnology industries remains the key driver fueling growth of the adult bovine serum market. The increasing research activities aimed at developing novel biologics such as vaccines, monoclonal antibodies, and stem cell therapy have resulted in higher consumption of adult bovine serum for cell culture applications. Adult bovine serum is preferred for culturing a wide range of cell lines and is less expensive as compared to other alternatives like FBS. Furthermore, growing stem cell research around the world is also providing a fillip to the adult bovine serum market. Continuous investments in the development of advanced biotherapeutics are further expected to support market growth over the forecast period.
SWOT Analysis
Strength: Adult Bovine Serum contains growth factors that promote cell attachment, proliferation and cell migration. It helps in cell culture applications like stem cell research, vaccine production and immunotherapy. The serum is also an excellent growth supplement for culturing delicate and fastidious mammalian cells.
Weakness: Bovine serum contains undefined components which can lead to unknown or unwanted variables in experiments. The composition of serum varies between batches which reduces reproducibility. Strict regulations are imposed on the sale and distribution of serum to prevent the spread of pathogens.
Opportunity: Growing biotechnology and pharmaceutical industries are driving the demand for growth supplements in cell culture. Increasing R&D investments in stem cell therapy, tissue engineering and regenerative medicine will boost consumption of bovine serum. The market is also witnessing rise in customization as per specific research requirements.
Threats: Rising concerns over animal welfare and potential risks of transmitting animal diseases to humans are prompting scientists to develop serum-free and chemically defined culture media. Stringent environmental policies regarding livestock farming pose supply challenges. Alternatives like human serum are also gaining traction.
Key Takeaways
The Global Adult Bovine Serum Market Share is expected to witness high growth over the forecast period of 2024 to 2031.
North America currently dominates the market owing to extensive life sciences research and robust biopharmaceutical industry in the region. The U.S and Canada are major revenue generators, accounting for over 40% of the global market share.
Key players operating in the Adult Bovine Serum market are Flex, TE Connectivity, Sanmina, Jabil, Celestica, Plexus, and Tecomet, among others. The market is observing increasing partnerships between research institutions and leading manufacturers to develop advanced cell culture media formulations suited for particular applications. Companies are also focusing on expanding their production facilities to meet rising global demand.
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