The Adult Bovine Serum Market To Reach Owing To Rising Biopharmaceutical Research And Development

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The adult bovine serum market comprises calf serum or fetal bovine serum that is extracted from blood collected from cattle. Adult bovine serum is widely used as a cellular growth supplement in cell culture media for growing and maintaining mammalian cells. It contains a variety of growth factors, cytokines, amino acids, lipids, attachment factors and other compounds to support cell growth. The global adult bovine serum market is estimated to be valued at US$ 145.13 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the adult bovine serum market are Flex, TE Connectivity, Sanmina, Jabil, Celestica, Plexus, and Tecomet, among others. Flex and TE Connectivity together control over 20% of the market share. The growing demand for adult bovine serum from the biopharmaceutical industry for drug development and testing is a major factor driving the market. Additionally, technological advancements such as improved cell culture media formulations that can reduce the usage of serum are further fueling the market growth.

Market Trends

One of the major trends in the adult bovine serum market is the shift towards serum-free media formulations. Several companies are developing serum-free media to overcome issues related to the quality and availability of serum and remove animal components. Another key trend is the increasing adoption of single-use bioreactors and pre-packed cell culture media that offers benefits such as reduced contamination risks.

Market Opportunities

The rising stem cell therapy research and regenerative medicine applications present significant growth opportunities for players in the Adult Bovine Serum Market Demand. Increasing funding for cell-based research from private and government bodies is also boosting demand. Additionally, the market sees opportunities for manufacturing facilities expansion in emerging markets like Asia Pacific and Latin America due to availability of logistical benefits.

Impact of COVID-19 on Adult Bovine Serum Market Growth

The COVID-19 pandemic has adversely impacted the growth of the adult bovine serum market. During the initial stages of the pandemic, there was a decline in the demand for adult bovine serum due to lockdowns imposed across various countries. Research activities and new product developments came to a halt during this period. However, with the progression of the pandemic, focus shifted to drug development and vaccine research which bolstered the demand for adult bovine serum. It is extensively used as a growth supplement for cell cultures in biologics production and vaccine development processes. The rising cases and the urgency to curb the spread led to accelerated research activities for which adult bovine serum formed a crucial component.

The pre-COVID scenario saw steady growth of the market driven by increasing R&D investments in cell-based research. The availability of funds boosted research focused on developing therapies for chronic diseases. However, during the peak of the pandemic, supply chain disruptions disrupted the supply of adult bovine serum. Constraints in the collection of blood from cattle and lack of manpower hampered production rates. But post-COVID, the market has regained momentum on the back of resumption of research activities and replenished inventory levels. Market players have enhanced production capacities and strengthened distribution channels to cater to rising demand in the future.

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