The surge in R & D activity for the production of new biopharmaceuticals as the biopharmaceutical industry expands will drive the growth of the global fetal bovine serum market.
The global fetal bovine serum market was pegged at $695 million in 2017 and is expected to hit $1.03 billion by 2025, growing at a CAGR of 5.1% from 2018 to 2025. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.’
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Rise in R&D activities for producing novel biopharmaceuticals along with the expansion of biopharmaceutical industry and increase in investments & funding for research activities in developed and developing countries are the major factors driving the growth of the global fetal bovine serum market growth. On the other hand, ethical & scientific issues related to the misuse of biotechnology research practices and scarcity of skilled personnel curb the growth to some extent. However, untapped potential in emerging geographies is projected to create new opportunities for the key players in the industry.
The cell culture segment to retain its dominance by 2025
Based on application, the cell culture segment accounted for nearly two-fifths of the total market share in 2017 and is expected to dominate during the 2018–2025. The biopharmaceuticals segment, on the other hand, is anticipated to grow at the highest CAGR of 5.9% throughout the study period.
The biotechnology and pharmaceutical company segment to rule the roost-
Based on end-user, the biotechnology and pharmaceutical company segment held the major share in 2017, contributing to nearly half of the total market. The same segment is also expected to grow at the fastest CAGR of 5.5% by 2025.
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North America to lead the trail in terms of revenue-
Based on geography, North America contributed to more than two-fifths of the total market revenue in 2017, and will rule the roost till 2025. The Asia-Pacific region, on the other hand, would cite the fastest CAGR of 6.3% during the forecast period.
Frontrunners in the industry-
Key market players analyzed in the market report include HiMedia Laboratories Pvt., Ltd., Merck KGaA (Sigma Aldrich), Rocky Mountain Biologicals, Thermo Fisher Scientific Inc., Atlas Biologicals, GE Healthcare, Biowest, Bio-Techne, Biological Industries, and PAN-Biotech. These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to heighten their stand in the industry.
Scope Of The Report
|Market size available for years||2018-2025|
|Base year considered||2019|
|Forecast units||Value (USD)|
|Segments covered||By Application, By End User, By Region|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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