The global fetal bovine serum market accounted for USD 1.79 billion in 2023 and is expected to reach at USD 7.68 billion by 2034 with a CAGR of 14.16% during the forecast period 2024-2034. Expanding biopharmaceutical sector, heightened research & development efforts, increased investments by major players, growing utilization of fetal bovine serum for drug discovery & vaccine manufacture, increased need for vaccine development, growing prevalence of both acute & chronic diseases, and increase in the launch of fetal bovine serum products are some of the key factors boosting the market growth.
Fetal bovine serum (FBS) is utilized in animal cell culture, obtained from the blood of bovine fetuses. It finds wide-ranging applications across the pharmaceutical and research sectors. Hence, increase in the launch of fetal bovine serum products is predicted to boost the market growth during the forecast period. For instance, in April 2023, Multus has introduced its latest product: Proliferum LSR, a serum-free medium designed for the life sciences field. This innovation enables researchers to transition from traditional Fetal Bovine Serum (FBS) for cell growth to a more environmentally friendly alternative, ensuring consistent and reproducible outcomes.
By application, vaccine production was the highest revenue-grossing segment in the global fetal bovine serum market in 2023 owing to the rise in research efforts aimed at vaccine development, with Fetal Bovine Serum (FBS) frequently utilized as a supplement in vaccine production. FBS serves as a valuable reservoir of growth factors & nutrients crucial for stimulating cell growth and multiplication, particularly in the manufacturing of specific vaccine types. Additionally, drug discovery is predicted to grow at the fastest CAGR during the forecast period owing to the technological advancements such as next-generation proteomics & cell-free DNA are being leveraged in the discovery and development of new oncology drugs. For instance, in August 2022, The FDA has approved a cell-based gene therapy for treating individuals with Beta-thalassemia who need regular blood transfusions.
By end-user, pharmaceutical & biotechnology companies was the highest revenue-grossing segment in the global fetal bovine serum market in 2023 owing to the rising trend in using fetal bovine serum for drug development, growing prevalence of chronic diseases such as cancer, increasing research activities, and surge in funding for such studies. For instance, in February 2022, CellMEAT, a startup based in South Korea, secured $4.5 million in funding to expand its initiative aimed at lowering the cost of cultured products. The findings, unveiled in December, highlight the company's pioneering achievement in developing FBS-free cell culture media. This advancement is expected to benefit both domestic and international players in the industry, including CellMEAT's manufacturing division. Additionally, Contract Research Organizations (CRO’s) is predicted to grow at the fastest CAGR during the forecast period owing to the factors such as having essential resources readily available, the ability to easily assign tasks and responsibilities to Contract Research Organizations (CROs), and enhanced global outreach contribute to the growing trend of manufacturers outsourcing research programs to CROs instead of conducting them internally.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in spending on research & development activities by government agencies, growing emphasis on the development of biopharmaceutical products, robust healthcare infrastructure, and rise in the introduction of new products. For instance, in January 2022, Thermo Fisher Scientific, a top supplier of life science solutions, has introduced a new product named Invitrogen FBS Plus. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the biopharmaceutical manufacturing sector is expanding, increasing presence of academic institutions & clinical research organizations, and growing emphasis on the development of novel products. For instance, in September 2022, Researchers have developed a novel method for cultivating meat in a lab setting, utilizing FBS to stimulate cell growth and replication through the application of a magnetic field. This technique holds potential applications in regenerative medicine.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Fetal bovine serum (FBS) is utilized in animal cell culture, obtained from the blood of bovine fetuses. It finds wide-ranging applications across the pharmaceutical and research sectors. Hence, increase in the launch of fetal bovine serum products is predicted to boost the market growth during the forecast period. For instance, in April 2023, Multus has introduced its latest product: Proliferum LSR, a serum-free medium designed for the life sciences field. This innovation enables researchers to transition from traditional Fetal Bovine Serum (FBS) for cell growth to a more environmentally friendly alternative, ensuring consistent and reproducible outcomes.
By application, vaccine production was the highest revenue-grossing segment in the global fetal bovine serum market in 2023 owing to the rise in research efforts aimed at vaccine development, with Fetal Bovine Serum (FBS) frequently utilized as a supplement in vaccine production. FBS serves as a valuable reservoir of growth factors & nutrients crucial for stimulating cell growth and multiplication, particularly in the manufacturing of specific vaccine types. Additionally, drug discovery is predicted to grow at the fastest CAGR during the forecast period owing to the technological advancements such as next-generation proteomics & cell-free DNA are being leveraged in the discovery and development of new oncology drugs. For instance, in August 2022, The FDA has approved a cell-based gene therapy for treating individuals with Beta-thalassemia who need regular blood transfusions.
By end-user, pharmaceutical & biotechnology companies was the highest revenue-grossing segment in the global fetal bovine serum market in 2023 owing to the rising trend in using fetal bovine serum for drug development, growing prevalence of chronic diseases such as cancer, increasing research activities, and surge in funding for such studies. For instance, in February 2022, CellMEAT, a startup based in South Korea, secured $4.5 million in funding to expand its initiative aimed at lowering the cost of cultured products. The findings, unveiled in December, highlight the company's pioneering achievement in developing FBS-free cell culture media. This advancement is expected to benefit both domestic and international players in the industry, including CellMEAT's manufacturing division. Additionally, Contract Research Organizations (CRO’s) is predicted to grow at the fastest CAGR during the forecast period owing to the factors such as having essential resources readily available, the ability to easily assign tasks and responsibilities to Contract Research Organizations (CROs), and enhanced global outreach contribute to the growing trend of manufacturers outsourcing research programs to CROs instead of conducting them internally.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in spending on research & development activities by government agencies, growing emphasis on the development of biopharmaceutical products, robust healthcare infrastructure, and rise in the introduction of new products. For instance, in January 2022, Thermo Fisher Scientific, a top supplier of life science solutions, has introduced a new product named Invitrogen FBS Plus. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the biopharmaceutical manufacturing sector is expanding, increasing presence of academic institutions & clinical research organizations, and growing emphasis on the development of novel products. For instance, in September 2022, Researchers have developed a novel method for cultivating meat in a lab setting, utilizing FBS to stimulate cell growth and replication through the application of a magnetic field. This technique holds potential applications in regenerative medicine.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Application and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Fetal Bovine Serum Market Report 2023 - 2034
Fetal Bovine Serum Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- In-vitro Fertilization
- Cell-based Research
- Vaccine Production
- Drug Discovery
- Diagnostics
- Others
Fetal Bovine Serum Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Academic & Research Organizations
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CRO)
- Others
Fetal Bovine Serum Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Fetal Bovine Serum Market: Application Estimates & Trend Analysis
8. Fetal Bovine Serum Market: End-user Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Fetal Bovine Serum Market
11. Europe Global Fetal Bovine Serum Market
12. Asia Pacific Global Fetal Bovine Serum Market
13. Latin America Global Fetal Bovine Serum Market
14. MEA Global Fetal Bovine Serum Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- HiMedia Laboratories
- Sartorius AG
- Biowest
- Danaher Corporation
- PAN-Biotech
- Atlas Biologicals Inc.
- Bio-Techne
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Rocky Mountain Biologicals
