The adult bovine serum market plays a pivotal role in supporting cell culture research and biotherapeutic development. Commonly used as a supplement in cell culture media formulations, adult bovine serum contains a variety of growth factors, attachment and nutrient factors that mimic those found in human blood. The widespread application of adult bovine serum has allowed for advancements in the production of vaccines, therapeutic antibodies, cell and gene therapies.
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 of 2024 to 2031.
Growing reliance on cell culture techniques for vaccine production and emerging domains like regenerative medicine have fueled increased consumption of adult bovine serum. Manufacturers are catering to strong worldwide demand by enhancing supply chain efficiencies, investing in new production facilities, and developing alternative cell culture supplements.
Key Takeaways
Key players: Key players operating in the adult bovine serum market are Flex, TE Connectivity, Sanmina, Jabil, Celestica, Plexus, and Tecomet, among others. These companies are focused on expanding production capacities to meet rising global serum requirements.
Growing demand: The increasing adoption of monoclonal antibody therapies and recombinant protein drugs have significantly increased the demand for adult bovine serum in biopharma applications. Additionally, cell-based research areas like stem cell therapy, tissue engineering and cancer research extensively employ cell culture techniques relying on adult bovine serum.
Global expansion: Leading manufacturers are undertaking strategic measures to augment their international presence and ensure security of supply. Several players have announced plans to set up adult bovine serum production and custom manufacturing facilities across North America, Asia Pacific and Europe.
Market key trends
The rising focus on developing alternative cell culture media is a major trend in the Adult Bovine Serum Market Size. Several companies are investing in animal-product free and chemically defined formulations to overcome challenges associated with the use of bovine serum. Products like Albuminex and ACF-S10 ensure reliable and scalable results by mimicking the functions of fetal bovine serum and adult bovine serum respectively. Their adoption could help alleviate supply chain issues and reduce cost pressures on bioprocessing.
Porter’s Analysis
Threat of new entrants: The adult bovine serum market requires high initial investments and regulatory approvals which reduces the threat of new entrants.
Bargaining power of buyers: The presence of numerous established buyers reduces the individual bargaining power of each buyer in this industry.
Bargaining power of suppliers: A few leading companies account for the majority of global supply which increases their bargaining power over buyers.
Threat of new substitutes: There exists few viable alternatives to adult bovine serum which reduces the threat of substitutes.
Competitive rivalry: Companies compete on the basis of quality, reliability of supply and pricing.
Geographical Regions
North America currently accounts for the largest share of the global adult bovine serum market in terms of value owing to high research and development expenditure and rising demand for cell culture media.
Asia Pacific is poised to be the fastest growing region over the forecast period driven by increasing life sciences R&D, growing biopharmaceutical industry and rising investments in healthcare infrastructure from regional governments. Countries such as China and India are expected to witness strong growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it