Report : Cell Line Development Serum Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Fetal Bovine Serum, Adult Bovine Serum, Porcine Serum, Horse Serum, and Other Animal Serum); By Application (Bioproduction, Drug Discovery, Tissue Engineering and Regenerative Medicines, Toxicity Testing, and Academic Research); and Geography
Fetal Bovine Serum Segment to Grow at Fast Pace during 2020–2027
According to our latest study on “Cell Line Development Serum Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is expected to reach US$ 1,467.92 million by 2027 from US$ 915.58 million in 2019; it is estimated to grow at a CAGR of 6.1% from 2020 to 2027. The report provides trends prevailing in the global cell line development serum market, and the drivers and hindrances pertaining to the market growth.
Based on type, the global cell line development serum market is segmented into fetal bovine serum, adult bovine serum, porcine serum, horse serum, other animal serum. Fetal bovine serum segment held the largest share of the market in 2019 and is expected to register the highest CAGR of the market during the forecast period. Fetal bovine serum (FBS) derived from the blood drawn from a bovine fetus through a closed collection system from the slaughterhouse. FBS is the most widely used serum-supplement for the in vitro cell culture of eukaryotic cells. This is because it has a deficient level of antibodies and contains more growth factors, allowing for versatility in different cell culture applications.
Increasing adoption of regenerative medicines and rising R&D investments and collaborations among by pharmaceutical and biotechnology companies treatments are the key factors driving the growth of the cell line development serum market. Moreover, increasing vaccine production is likely to have positive impact on the market in the coming years. However, risk of contamination, misidentification, and random alternations in cell lines are restricting the market growth.
Lonza, Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation (MERCK KGaA), Cytiva (Danaher), PAN Biotech, Corning Incorporated, European Collection of Cell Cultures (ECACC), Bovogen Biologicals Pty Ltd., WuXi AppTec, and American Type Culture Collection (ATCC) are among the leading companies operating in the cell line development serum market.
The report segments the global cell line development serum market as follows: