by The adult bovine serum is derived from clotted blood of mature cattle. It contains various growth factors and proteins that are required for cell growth and proliferation in cell culture systems. It is a rich protein supplement commonly used in various biotechnology applications such as cell culture media, diagnostics and therapeutics. Adult bovine serum provides essential nutrients such as amino acids, minerals and vitamins that promote cell growth. Further, it reduces stress on cells due to external factors like temperature fluctuations and pH imbalances. Some key applications of adult bovine serum include cell culture industries for therapeutic antibody production, vaccine production and bioprocessing. The global Adult Bovine Serum Market is estimated to be valued at US$ 145.13 in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising adoption in life sciences research is expected to flourish the growth of adult bovine serum market over the forecast period. Life sciences research drives innovation in the fields of medicine, biotechnology and agriculture through experimentation and testing of various therapeutics. Adult bovine serum is a rich source of cell growth promoters which makes it ideal for cell culturing applications used in development of therapies, vaccines and bio monitoring. Further, the flourishing biopharmaceutical industry undergoing heavy R&D to develop new biologics is encouraging use of serum culture media. However, high cost associated with serum collection process compared to substitute media and ethical concerns regarding animal sourcing may restrain the market growth.
Segment Analysis
The Global Adult Bovine Serum Market Size is segmented into China, Southeast Asia & other Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. The North American market accounts for the dominant share of the global market currently due to the high prevalence of serum usage in the region. The United States accounts for the largest share in the North American market owing to the number of biotechnology & pharmaceutical companies located in the country and high R&D investments in life science research.
PEST Analysis
Political: Regulations regarding transportation, storage and import/export of biological products across various regions impact the market. However, there are no major political risks affecting the market currently.
Economic: Steady economic growth of key industries like biotechnology, pharmaceuticals has boosted research activities demand for adult bovine serum. However, fluctuating raw material prices and regulations can impact market growth.
Social: Increasing incidence of chronic diseases, growing focus on disease research augments demand. However, issues regarding animal welfare and alternatives can impact social acceptance of products.
Technological: Advancements in cell culture techniques, serum-free media are driving efficiency. Automation in production helps reduce costs.
Key Takeaways
The global adult bovine serum market is expected to witness high growth aided by increasing life science research activities globally.
The North American region currently dominates the market owing to concentration of key industry players and high research investments in the region.
Key players operating in the adult bovine serum market are Flex, TE Connectivity, Sanmina, Jabil, Celestica, Plexus, and Tecomet, among others. These players are focusing on expanding their production capacities and regional presence through strategic collaborations with end users.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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