Global Serum Market, By Type (Bovine Serum, FBS, and Other), Inactivation Technique (Heat Inactivated and Non-Heat Inactivated), Application (Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, and Others), End User (Biopharmaceutical and Biotechnology Industry, Diagnostics Laboratories, Research Laboratories, and Academic Research), Sales Channel (Direct Channel and Distribution Channel) – Industry Trends and Forecast to 2031.
Serum Market Analysis and Size
The market is experiencing significant growth due to several key factors. One of the primary drivers is the increasing use of serum in various applications, including cell culture, diagnostics, and biopharmaceutical production. The rising demand for cell-based therapies and regenerative medicine is fueling market growth, as serum is important in supporting cell growth and viability. The market is expected to grow, driven by advancements in cell culture technology and the increasing adoption of serum in research and clinical applications.
The global serum market size was valued at USD 1.57 billion in 2023 and is projected to reach USD 3.37 billion by 2031, with a CAGR of 10% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Bovine Serum, FBS, and Other), Inactivation Technique (Heat Inactivated and Non-Heat Inactivated), Application (Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, and Others), End User (Biopharmaceutical and Biotechnology Industry, Diagnostics Laboratories, Research Laboratories, and Academic Research), Sales Channel (Direct Channel and Distribution Channel)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Thermo Fisher Scientific Inc (U.S.), Merck KGaA (Germany), Cytiva (U.S.), Bio-Techne (U.S.), Atlas Biologicals, Inc. (U.S.), Rocky Mountain Biologicals (U.S.), Takara Bio Inc. (Japan), PAN-Biotech (Germany), Sartorius AG (Germany), Corning Incorporated (U.S.), Bovogen Biologicals Pty Ltd. (Australia), Moregate Biotech (Australia), BIOWEST SAS (France), Caisson Labs Inc. (U.S.), and Gemini Bio (U.S.)
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Market Opportunities
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Market Definition
Serum refers to the clear, yellowish fluid that remains after blood has clotted and the clot has been removed. It is essentially blood plasma without the clotting factors. The serum contains water, electrolytes, antibodies, antigens, hormones, and any exogenous substances (e.g., drugs or microorganisms) in the blood.
Serum Market Dynamics
Drivers
- Growing Biopharmaceutical Industry
The biopharmaceutical industry is witnessing significant growth due to the increasing prevalence of chronic diseases and the demand for personalized medicine. Biopharmaceuticals often require serum in their production processes, driving the demand for serum products. The development of novel therapies, including biologics and biosimilars, further boost the demand for serum. In addition, the rise in healthcare expenditure and investments in research and development are contributing to the expansion of the biopharmaceutical industry, driving market growth.
- Rising Demand for Cell Culture Technology
Cell culture technology is crucial in pharmaceutical and biotechnology research, allowing researchers to study cell behavior and develop new therapies. Serum is often employed as a growth supplement in cell culture media to support the growth and proliferation of cells. The increasing adoption of cell culture techniques in drug discovery, regenerative medicine, and vaccine production drives the demand for serum. Moreover, advancements in cell culture technology, such as the development of serum-free media and three-dimensional (3D) cell culture systems, are expanding cell culture applications, further fueling the demand for serum products.
Opportunities
- Increasing Prevalence of Chronic Diseases
Chronic diseases are rising due to factors such as aging populations, unhealthy lifestyles, and environmental factors. Chronic diseases such as cancer, diabetes, and cardiovascular disorders utilize serum samples for regular monitoring through diagnostic tests. As the prevalence of these diseases continues to increase, the demand for diagnostic tests is also expected to rise, creating a significant market opportunity for serum-based diagnostics and opportunities for the serum market to grow.
- Growing Research and Development Activities
The life sciences and biotechnology sectors are experiencing rapid growth, driven by technological advancements, increasing funding for research, and a growing focus on personalized medicine. This growth has led to expanding research and development activities in areas such as stem cell research, regenerative medicine, and drug discovery. Serum plays a vital role in numerous research applications, providing a nutrient-rich medium for cell culture and serving as a source of biomarkers for various studies. The growing demand for serum in research and development activities presents a significant market opportunity for serum manufacturers and suppliers. As research advances, the demand for high-quality serum products is expected to remain strong, creating opportunities for market growth.
Restraints/Challenges
- Ethical Concerns Regarding Animal Welfare
Serum is traditionally obtained from animal sources, primarily fetal bovine serum (FBS), which raises ethical concerns regarding animal welfare. The process of collecting serum from fetal bovine blood involves the slaughter of pregnant cows, leading to criticism from animal rights groups and some researchers. To address these concerns, there has been an increasing focus on the development of cell culture media that do not require serum. These alternative media formulations aim to eliminate the need for serum derived from animals, which could potentially limit the growth of the serum market in the future.
- High Cost of Serum
Serum, particularly FBS, is a relatively expensive component of cell culture media. The high cost of serum can be attributed to various factors, including the labor-intensive process of collecting and processing serum and the limited availability of FBS due to strict regulations on its production and export. The high serum cost can pose a barrier to its widespread use, especially in research settings with limited budgets. As a result, researchers and biotechnology companies are exploring alternative media formulations that can achieve similar results at a lower cost, potentially impacting the demand for serum in the market.
This serum market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the serum market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Serum Market Scope
The is segmented on the basis of type, inactivation technique, application, sales channel, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Bovine Serum
- FBS
- Other
Inactivation Technique
- Heat Inactivated
- Non-Heat Inactivated
Application
- Biological Products
- Research
- Cell Culture
- Biopharmaceutical Drugs
- Vaccine Products
- Diagnostic Products
- Others
End User
- Biopharmaceutical and Biotechnology Industry
- Diagnostics Laboratories
- Research Laboratories
- Academic Research
Sales Channel
- Direct Channel
- Distribution Channe
Serum Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, type, inactivation technique, application, sales channel, and end user as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America is expected to dominate the market due to the region's growing focus on biological product research. The presence of a well-established healthcare infrastructure, high adoption of advanced medical technologies, and significant investments in research and development are also driving market growth.
Asia-Pacific is expected to witness significant growth during the forecast period due to increasing technological advancements and factors such as the rising geriatric population, increasing prevalence of chronic diseases, and improving healthcare infrastructure. Moreover, expanding the biopharmaceutical and life sciences industries in countries such as China, India, and Japan contributes to the region's growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the serum market. The data is available for historic period 2011-2021.
Competitive Landscape and Serum Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Thermo Fisher Scientific Inc (U.S.)
- Merck KGaA (Germany)
- Cytiva (U.S.)
- Bio-Techne (U.S.)
- Atlas Biologicals, Inc. (U.S.)
- Rocky Mountain Biologicals (U.S.)
- Takara Bio Inc. (Japan)
- PAN-Biotech (Germany)
- Sartorius AG (Germany)
- Corning Incorporated (U.S.)
- Bovogen Biologicals Pty Ltd. (Australia)
- Moregate Biotech (Australia)
- BIOWEST SAS (France)
- Caisson Labs Inc. (U.S.)
- Gemini Bio (U.S.)
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