The global market for fetal bovine serum is considered as a consolidated market with a few number of players holding a major share of the market, stated a new market research study by Transparency Market Research. The key players in the market are focusing on the research and development activities and the expansion of the product portfolio, which is likely to enhance the growth of the market in the next few years. In addition to this, the increasing number of collaborations and mergers and acquisitions is projected to generate potential growth opportunities for the market players, thus supporting the overall growth of the market throughout the forecast period. Some of the key players operating in the fetal bovine serum market across the globe are Merck KGaA, TCS Biosciences Ltd., Tissue Culture Biologicals, Atlanta Biologicals Inc., Rocky Mountain Biologicals, HiMedia Laboratories, GE Healthcare, PAN-Biotech, and Bovogen Biologicals Pty Ltd.
According to the market research study by Transparency Market Research, in 2016, the global market for fetal bovine serum market was worth US$695.3 mn and is projected to reach a value of US$1,396.1 mn by 2025 by the end of 2025. The market is likely to register a promising 8.0% CAGR between 2017 and 2025.
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North America to Maintain Dominance in Fetal Bovine Serum Market
The global fetal bovine serum market has been categorized on the basis of geography into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among these, North America is expected to hold a major share of the global fetal bovine serum market and is likely to remain in the dominant position in the next few years. The high consumption and the high pricing of fetal bovine serum are the key factors that are projected to encourage the growth of the North America market in the near future. Europe is estimated to be on the second position in the next few years. Furthermore, Asia Pacific is estimated to register a healthy growth rate in the next few years, thanks to the rising contribution from China and India. Moreover, the rapid emergence of contract research organizations is another key factor that is predicted to accelerate the growth of the Asia Pacific market in the near future.
The global fetal bovine serum market has been categorized on the basis of end use into industry and research and academic institutes. Among these, the industry segment is projected to account for a key share of the market in the next few years. The rising demand for fetal bovine serum from the biotechnology and pharmaceutical industry is considered as one of the key factors that is predicted to accelerate the growth of this segment in the coming few years.
Increasing Government Support to Encourage Market Growth in Near Future
A significant rise in the number of academic research institutes is expected to encourage the growth of the global fetal bovine serum market throughout the forecast period. The rising contribution from governments, who are coming together with academic research institutes in order to encourage and support the research activities is further projected to accelerate the growth of the market in the near future. In addition to this, the rapid growth of the pharmaceutical, biotechnology, and animal health industries is likely to generate potential growth opportunities for the market players in the next few years.
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