Fetal Bovine Serum Market: By Product (Charcoal, Stripped, Chromatographic, Dialyzed Fetal Bovine Serum, Exosome Depleted, Stem Cell, Other Products), By Application (Biopharmaceuticals, Cell Culture Media, Human and Animal Vaccine Production, Drug Discovery, Vaccine Production), By End-User (Biotechnology and Pharmaceutical Industries, Academic institutes, Research labs, Diagnostic labs, CROs, CMOs, IVF Centers, Others), and Geography

Fetal Bovine Serum Market size was valued at USD 1,285.6 million in 2023 and is expected to grow at a 6.1% CAGR from 2024 to 2030. Fetal bovine serum is a blood-derived product obtained from the blood of fetal bovine fetuses. It is rich in various growth factors, hormones, and other nutrients, making it an ideal supplement to promote the progress and proliferation of many types of animal cells. Factors such as the expansion of the biopharmaceutical industry in developing countries as well as established markets are expected to spur the demand for fetal bovine serum (FBS) in coming years.

Furthermore, increasing R&D activities and expenditure by key players for the introduction of new products in the market are some of the major factors driving the market growth. Moreover, the increasing application of fetal bovine serum in drug discovery, and vaccine production is leading to a rise in demand for fetal bovine serum products. Moreover, the pandemic led to a heightened demand for the development of vaccines to curb the spread of the virus and reduce its severe effects. Fetal bovine serum is extensively used in developing vaccines and therefore rise in demand for vaccine development had a direct impact on the market and led to an increase in sales of fetal bovine serum.

Moreover, the rising focus of the pharma industry to develop and introduce new drugs in the market due to the rising prevalence of acute and chronic diseases is also augmenting the growth of the market. However, the high cost of fetal bovine serum as well as the increasing preference of manufacturers to develop serum-free media is limiting the growth of the market. The efficacy of cellular reprogramming for induced pluripotent stem cells leads to the high demand for the product. The broader range of applications of the stem cell is likely to fuel the segmental growth, as it requires a fetal bovine serum cell line for tissue culture. Moreover, the advantages of FBS in serum cell culture, such as its ability for stem cell differentiation, morphology, cell growth and expansion, and clonal efficiency, are driving their adoption. Furthermore, there is a growing trend of adoption of technologically advanced stem cell lines, which pose capabilities, including steam-in-place (SIP) sterilization, filtration for sterility, and many others.

Fetal Bovine Serum Market Key Developments:

• In April 2021, Thermo Fisher Scientific Inc. and PPD Inc. announced a definitive agreement under which Thermo Fisher will acquire PPD for USD 17.4 billion.
• In March 2021, Merck KgAA announced that it will expand a single-use assembly production unit at its Life Science Center in Molsheim, France, with a EUR 25 million investment.