Global Fetal Bovine Serum Market By Product Type (Exosome Depleted, Charcoal Stripped, and Stem Cell), By Application (Cell-based Research, Diagnostics, Vaccine Production, Drug Discovery, In-vitro Fertilization, Toxicity Testing, and Cell Therapy), By End-user (Academic Institutes, Pharmaceuticals & Biotechnology Industries, Diagnostic Labs, Research Labs, and IVF Centers), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

Global Fetal Bovine Serum Market size is expected to be worth around US$ 6.4 billion by 2033 from US$ 1.7 billion in 2023, growing at a CAGR of 14.2% during the forecast period 2024 to 2033.

Increasing utilization of fetal bovine serum (FBS) across various biopharmaceutical applications significantly drives the market’s growth, particularly in cell culture and vaccine production. FBS serves as an essential supplement in the cultivation of cells and tissues, supporting research in drug discovery, regenerative medicine, and cancer research.

A recent report on biopharmaceutical manufacturing capacity, published in 2021, indicated that approximately 1,900 facilities worldwide possessed an estimated total capacity exceeding 17.3 million liters, with over 720 of these facilities having capacities greater than 2,000 liters.

This vast infrastructure underscores the escalating demand for high-quality FBS in research and development processes. Recent trends show a growing emphasis on the ethical sourcing and sustainability of FBS, as researchers and manufacturers seek alternatives that minimize animal welfare concerns. Additionally, advancements in serum-free and chemically defined media are emerging as potential substitutes for FBS, creating new opportunities for market players to innovate.

The rise in personalized medicine and biotherapeutics also contributes to increased FBS demand, as researchers require reliable and consistent growth factors for cell line development. As the global focus on biotechnology and pharmaceutical research intensifies, the fetal bovine serum market is poised for sustained growth, offering ample opportunities for expansion and innovation.

Key Takeaways

• Market Size: Global Fetal Bovine Serum Market size is expected to be worth around US$ 6.4 billion by 2033 from US$ 1.7 billion in 2023.
• Market Growth: The market growing at a CAGR of 14.2% during the forecast period 2024 to 2033.
• Product Type Analysis: The stem cell segment led in 2023, claiming a market share of 52.4% owing to the increasing applications of stem cells in research and regenerative medicine.
• Application Analysis: The vaccine production held a significant share of 43.8% due to as the global focus on immunization and preventive healthcare intensifies.
• End-Use Analysis: The pharmaceuticals & biotechnology industries segment had a tremendous growth rate, with a revenue share of 55.9%
• Regional Analysis: North America dominated the market with the highest revenue share of 39.7%

By Product Type Analysis

The stem cell segment led in 2023, claiming a market share of 52.4% owing to the increasing applications of stem cells in research and regenerative medicine. As advancements in cell therapy and tissue engineering continue to evolve, the demand for high-quality serum to support stem cell culture is likely to rise. The preference for exosome-depleted and charcoal-stripped products is anticipated to enhance the performance and viability of stem cells, making these serum types more appealing to researchers.

Additionally, the growing focus on personalized medicine and the development of stem cell-based treatments for various diseases will further drive this segment’s expansion. Regulatory bodies are also likely to encourage the use of optimized serum products that minimize variability and enhance reproducibility in stem cell research. Consequently, the stem cell segment is projected to play a crucial role in advancing the overall fetal bovine serum market.

By Application Analysis

The vaccine production held a significant share of 43.8% due to as the global focus on immunization and preventive healthcare intensifies. The rising incidence of infectious diseases and the need for rapid vaccine development are likely to drive demand for serum in cell-based vaccine production. Researchers increasingly rely on fetal bovine serum to cultivate the cells necessary for generating effective vaccines, which will further boost this segment.

Additionally, innovations in vaccine technology, including mRNA and viral vector vaccines, are projected to enhance the requirements for serum to support their development. The ongoing efforts to improve vaccine efficacy and production efficiency will likely lead to a heightened emphasis on high-quality serum products. As public health initiatives continue to prioritize vaccination programs, the vaccine production segment is expected to play a pivotal role in shaping the fetal bovine serum market.

By End-user Analysis

The pharmaceuticals & biotechnology industries segment had a tremendous growth rate, with a revenue share of 55.9% owing to the increasing need for high-quality serum in drug development and clinical research. The surge in biopharmaceutical research and the expansion of biologics manufacturing are expected to significantly elevate the demand for fetal bovine serum. As pharmaceutical companies focus on developing innovative therapies, the reliance on serum for culturing cells and producing recombinant proteins will likely increase.

Additionally, the growing emphasis on advanced therapeutic modalities, such as cell and gene therapies, will further bolster this segment. The increasing collaboration between academic institutions and industry players is anticipated to facilitate research and development activities, enhancing serum demand in biotechnology.

Overall, the pharmaceuticals and biotechnology industries segment is expected to be a critical driver of growth within the fetal bovine serum market, reflecting the ongoing evolution of healthcare and therapeutic approaches.

Key Market Segments

By Product Type

• Exosome Depleted
• Charcoal Stripped
• Stem Cell

By Application

• Cell-based Research
• Diagnostics
• Vaccine Production
• Drug Discovery
• In-vitro Fertilization
• Toxicity Testing
• Cell Therapy

By End-user

• Academic Institutes
• Pharmaceuticals & Biotechnology Industries
• Diagnostic Labs
• Research Labs
• IVF Centers

Drivers

Increasing Drug Manufacturing and Approval Drives Market Growth

Increasing drug manufacturing and approval significantly drives the fetal bovine serum market. The pharmaceutical industry has experienced a surge in drug approvals, reflecting the growing demand for new therapies and biologics. According to a research study published in January 2023, the FDA approved an average of 44 drugs per week between 2012 and 2021, with the approval rate rising significantly during this period.

Notably, the agency tallied over 50 annual approvals between 2018 and 2021, contributing to a remarkable total of 445 new biologics and small molecule medicines over the decade, marking a 76% increase from the previous ten years.

As biopharmaceutical companies expand their research and development efforts to bring innovative therapies to market, the demand for high-quality fetal bovine serum, used as a critical growth supplement in cell culture and drug development, is expected to rise correspondingly. This trend will likely enhance the market dynamics for fetal bovine serum as companies seek reliable sources to support their increased production capabilities.

Restraints

Rising Prices Restrain Market Expansion

High levels of rising prices for fetal bovine serum restrain market growth. The cost of obtaining high-quality serum has escalated due to various factors, including increased demand, regulatory scrutiny, and challenges in sourcing. These price hikes can impede the ability of research institutions and biotechnology companies to conduct experiments and develop new therapies effectively. Smaller laboratories and startups, in particular, may face financial constraints, limiting their access to essential growth supplements for cell culture.

Consequently, these financial pressures are expected to hamper the expansion of the fetal bovine serum market, as researchers may seek alternative, more cost-effective solutions to support their work. As prices continue to rise, the overall adoption of fetal bovine serum in research and development may decline, further affecting the market’s growth potential.

Opportunities

Growing Focus on Expanding Manufacturing Capacity Creates Opportunities

Rising focus on expanding manufacturing capacity presents significant opportunities for the fetal bovine serum market. As the biotechnology sector continues to evolve, companies recognize the need to scale up production capabilities to meet growing demand.

In September 2020, Cytiva announced plans to enhance its manufacturing capacity by investing approximately USD 500 million over five years. This strategic investment aims to promote the development of the biotechnology industry by hiring a considerable number of new staff and improving production facilities.

As companies increase their manufacturing capacities, they are likely to seek high-quality fetal bovine serum to support their cell culture processes. This trend is anticipated to drive demand for serum and create favorable market conditions, allowing suppliers to expand their offerings and improve supply chain reliability, ultimately benefiting the entire fetal bovine serum market.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors significantly impact the market for bovine-derived growth supplements used in research and development. Economic downturns can lead to reduced funding for research projects, which may limit the demand for essential growth supplements in laboratories. Additionally, fluctuations in currency exchange rates can affect the pricing of imported serum, making it more expensive for buyers.

Geopolitical tensions and trade restrictions can disrupt supply chains, leading to shortages and delays in the availability of critical products. However, increasing investments in biopharmaceutical research and the rising demand for vaccines and therapeutics drive growth in this sector. Furthermore, regulatory support for animal-derived products enhances confidence among consumers and researchers alike. Despite facing challenges, the ongoing commitment to advancing research and development in various fields presents a positive outlook for the market.

Latest Trends

Impact of Acquisitions and Collaborations on the Fetal Bovine Serum Market

Rising trends in acquisitions and collaborations are anticipated to significantly boost the market for bovine-derived growth supplements. Companies increasingly pursue strategic partnerships to enhance their capabilities and expand their product offerings. These alliances allow firms to leverage shared expertise and resources, fostering innovation in the production and application of serum.

For instance, in December 2021, Thermo Fisher, Inc. acquired PPD, Inc., a U.S.-based provider of clinical research services to the pharmaceutical and biotechnology sectors. This acquisition aims to enhance Thermo Fisher’s offerings to its biotech and pharma customers, thereby improving their research capabilities.

As the market experiences a surge in strategic collaborations, industry players are likely to benefit from enhanced product development and improved service delivery, ultimately meeting the growing demands of researchers and scientists.

Regional Analysis

North America is leading the Fetal Bovine Serum Market

North America dominated the market with the highest revenue share of 39.7% owing to several factors that underscore its significance in biotechnological applications. The increasing demand for cell culture products in research, vaccine development, and therapeutic applications has significantly elevated the need for high-quality serum.

Moreover, the rising investments in biotechnology and pharmaceutical sectors have contributed to market expansion as companies seek reliable growth factors for their in vitro applications. A pivotal development occurred in September 2022, when scientists introduced a novel technique for in-vitro meat production, utilizing fetal bovine serum for cell growth and multiplication while applying a magnetic field. This innovation illustrates the expanding applications of fetal bovine serum beyond traditional uses, particularly in regenerative medicine and sustainable food sources.

Additionally, the growing focus on alternative proteins and lab-grown meat is expected to sustain market growth in the coming years. Overall, these dynamics have fostered a robust environment for the fetal bovine serum market in North America.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

In the Asia Pacific region, the fetal bovine serum market is projected to witness substantial growth during the forecast period. The increasing investments in biotechnology and life sciences, particularly in countries such as China and India, are expected to drive demand for serum products. The rising focus on research and development in cell therapies and regenerative medicine will likely enhance the market’s scope.

For instance, in February 2022, South Korean startup CellMEAT secured $4.5 million in funding to advance its initiatives aimed at reducing the costs associated with cultivated products. By December, the company announced that it had achieved a significant milestone by developing FBS-free cell culture media, which can support local cultivated companies as well as international counterparts. This advancement highlights the growing emphasis on reducing reliance on traditional serum sources, making the market more sustainable.

As the demand for innovative biotechnological applications continues to rise, the fetal bovine serum market in the Asia Pacific region is anticipated to flourish, driven by innovation and expanding research capabilities.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

The major players in the blood preparation market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. Key players in the fetal bovine serum market employ strategies focused on quality assurance and supply chain optimization to enhance growth.

They invest in research and development to improve serum production processes, ensuring high-quality and consistent products that meet regulatory standards. Forming strategic partnerships with research institutions and biotechnology companies enables them to expand their customer base and enhance product applications in various research areas.

Companies actively pursue geographic expansion by entering emerging markets, where demand for laboratory and research applications is increasing. Additionally, they emphasize sustainability initiatives, such as ethical sourcing practices, to appeal to environmentally conscious consumers and enhance their brand reputation.

Top Key Players

• Thermo Fischer Scientific Inc.
• TCS Biosciences Ltd
• Omeat
• Moregate Biotech
• Merck KGaA
• General Electric
• Gemini Bio-Products
• Bovogen Biologicals Pvt Ltd

Recent Developments

• In June 2024, Omeat published a white paper detailing the performance of Plenty, their ethical alternative to Fetal Bovine Serum (FBS). This white paper features feedback from third-party users regarding the efficacy of Plenty across various cell types. Omeat adheres to the most stringent animal welfare criteria, utilizing cows that are carefully selected to be free of zoonotic diseases. These cows are allowed to graze freely on spacious pastures, eliminating the need for environmentally harmful feedlots. Plenty is specifically enhanced with platelet lysate, which contains regenerative growth factors that aid in healing injuries in various organisms. Rich in growth factors and cytokines, Plenty plays a vital role in organ regeneration, cell development, and differentiation. The introduction of such ethical alternatives may influence the FBS market by pushing for innovation and the development of sustainable solutions.
• In April 2021, Thermo Fisher Scientific Inc. announced its definitive agreement to acquire Pharmaceutical Product Development, Inc. (PPD). This acquisition is expected to bolster Thermo Fisher’s research and development capabilities, contributing to the growing demand for fetal bovine serum. Enhanced R&D activities can lead to improved applications and increased utilization of FBS in various biopharmaceutical and research settings, thereby supporting market growth.

Report Scope