Fetal Bovine Serum (FBS) Market to Observe Widespread Growth Due to Widespread Applications of FBS in Various Pharmacological Researches
Serums as well as many other blood-derived products have been widely used in pharmacological researches since ages. Use of these products has played a notable role in various developments in human and veterinary healthcare and drug development. One such product is the fetal bovine serum (FBS), which has a significant role in the culture of mammalian cells for various decades. This serum is considered to be a valuable product for a broad spectrum of applications, as it supports a wide array of mammalian cell types.
What is Boosting the Demand for Fetal Bovine Serum?
FBS is the most commonly used serum as it provides the most robust culture system for the widest range of cell types and can be used from basic research to biochemical studies, vaccine development, and drug discovery. It is also extensively used as a growth supplement for the cell culture of eukaryotic and mammalian cells in the laboratories, as it comprises of low level of antibodies and high numbers growth factors along with an intricate composition of protein elements required for the development of numerous cells.
A considerable surge in research and developmental activities in the cell culture arena has boosted the demand for fetal bovine serum. This rising demand is expected to accelerate the growth graph of the fetal bovine serum market in the coming years. As per a report by Research Dive, the global fetal bovine serum market is projected to garner $1,568,586.4 thousand by 2028, with a CAGR of 6.4%.
As the technological researches are proceeding at an accelerated pace, the demand for fetal bovine serum is also growing profoundly. However, as fetal bovine serum is extracted from pregnant cows after they are slaughtered in the slaughterhouses, their extraction is deliberated as inhuman and immoral. As a result, to avoid such practices and related issues, many companies are focusing on the development of animal-free sera, which does not implicate any ethical issues. For instance, a team of scientists from the Savitribai Phule Pune University (SPPU), Pune, has invented a novel technique to grow and study skin cells. This technique uses at least 5 times lesser concentrations of fetal bovine serum.
Recent Trends in the Fetal Bovine Serum Industry
Various companies functioning in the fetal bovine serum sector, such as GE Healthcare, HiMedia Laboratories Pvt., Ltd., Biowest, Biological Industries, Rocky Mountain Biologicals, PAN-Biotech, and Thermo Fisher Scientific Inc, Tissue Culture Biologicals, Cell Culture Technologies LLC, and Nucleus Biologics, are greatly investing in the fetal bovine serum industry. These market players are undertaking numerous strategies, such as novel product launches, partnerships, and collaborations, to obtain a leading-edge in the global market.
- In 2020, an animal study conducted by Bharat Biotech, an Indian multinational biotechnology company involved in the drug development, drug discovery, bio-therapeutics, manufacture of vaccines, pharmaceuticals and healthcare products, stated that it uses blood serum from newborn cattle in making Covaxin.
- A privately owned and independent supplier of life science laboratory products, named Peak Serum, Inc., has introduced Peak Premier Rewards; a program intended to reward customers who regularly buy fetal bovine serum and lab accessories.
Impact of COVID-19 Pandemic on the Fetal Bovine Serum Market
The global fetal bovine serum market growth has been considerably impacted with the rise of the COVID-19 pandemic in 2020. The pandemic has resulted in the enforcement of strict lockdowns. As academic and research institutions worldwide were completely shut, the demand for fetal bovine serum decreased, thus hampering the market growth. However, the pandemic has also surged the demand for fetal bovine serum to some extent. The rising spread of the COVID-19 virus has fueled the demand for a powerful vaccine or any antiviral medicine. To satisfy this high demand, numerous biotechnological and biopharmaceutical businesses have fast-tracked their R&D activities to develop a vaccine against COVID-19 disease. These factors are expected to boost the market growth in the coming years.
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