Bovine serum albumin (BSA) is a blood protein extracted from cow blood. It has various advantages over other albumin sources such as high purity, stability, and wide applications in bioscience research and biopharmaceutical manufacturing. BSA is typically used as a blocking agent or stabilizing agent in applications like ELISA, Western blots, and immunohistochemistry. It is also used as a supplement for cell culture media.
The global BSA market is estimated to be valued at US$ 329.59 Mn in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the bovine serum albumin market are LGC Group, Promega Corporation, Biological Industries, Serion GmbH, Life Sciences Group Ltd., Sisco Research Laboratories Pvt. Ltd., Bovogen Biologicals Pty Ltd., Biophyll GmbH, AusGeneX Pty Ltd., Gemini Bio, Bio-Rad Laboratories,Inc.
The Bovine Serum Albumin Market Growth offers significant opportunities in applications such as pharmaceuticals, diagnostics, cell culture, and biotechnology research. Rising demand for BSA from the biopharmaceutical industry especially for vaccine production is expected to drive the market growth during the forecast period.
Globally, North America dominated the BSA market in 2019 owing to the presence of major market players and growth of the biopharmaceutical industry in the region. However, Asia Pacific is expected to witness the highest CAGR during the forecast period due to expanding biopharmaceutical research and production in China and India. Key players are expanding their production facilities in these emerging markets.
Market Drivers
Increasing demand from the pharmaceutical industry is a key driver for the BSA market growth. BSA finds wide application in various biopharmaceutical manufacturing processes such as monoclonal antibody production, viral vaccine production, therapy development etc. It is preferred over other albumin sources for its high purity and stability. With rising R&D investment and new drug approvals, the demand for BSA from biopharmaceutical companies is expected to increase significantly over the forecast period.
PEST Analysis
Political: There are various governments regulations related to the production and trading of bovine serum albumin across nations. Factors such as rules for animal welfare in livestock farming impacts the supply.
Economic: The global GDP growth and the economic condition of end-use industries determines the demand for bovine serum albumin. Rising healthcare spending boosts the market.
Social: Increasing awareness about protein therapies and growth in biotechnology research activities augments the need for bovine serum albumin in various applications.
Technological: Advancements in extraction processes and development of powdered forms enhance the stability and shelf-life of bovine serum albumin. Use of recombinant DNA technologies aids mass production.
The geographical regions where the bovine serum albumin market in terms of value is concentrated include North America and Europe. These regions account for over 60% of the global market value due to established biopharmaceutical and life science industries. Countries such as the United States, Germany, France and the United Kingdom are the major revenue generators.
The fastest growing regional market for bovine serum albumin is Asia Pacific. Factors such as rising healthcare expenditures, increasing number of biotechnology and pharmaceutical companies, and growing research & development activities in countries like China and India are boosting the demand in this region. The Asia Pacific bovine serum albumin market is projected to expand at around 5% CAGR during the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn