Fetal Bovine Serum Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Fetal Bovine Serum Market Growth Factors & Manufacturers and it is Segmented by Application (Biopharmaceuticals, Cell Culture Media, Human and Animal Vaccine Production, and Other Applications), Product (Charcoal Stripped, Chromatographic, Dialyzed Fetal Bovine Serum, Exosome Depleted, Stem Cell, and Other Products), End User (Research and Academic Institutes, Biotechnology and Pharmaceutical Industry, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market provides the value (in USD million) for the above-mentioned segments.

Fetal Bovine Serum Market Size

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Fetal Bovine Serum Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 9.20 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Fetal Bovine Serum Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Fetal Bovine Serum Market Analysis

The global fetal bovine serum market is estimated to grow with a CAGR of nearly 9.2% during the forecast period 2021-2026.

The COVID-19 pandemic is expected to have a positive impact on the fetal bovine serum market. Fetal bovine serum is used extensively in in-vitro cell-culture preparation and vaccine production. Fetal bovine serum is used as a supplement in the growth media for vaccines. Due to the high transmission rate and lack of treatment, many countries are suffering due to the impact of the pandemic, and they are continuing to bear a significant burden on both their economies and healthcare systems. Many countries were and are still under lockdown. They suspended the trades with other countries and implemented travel restrictions, leading to a decline in the market capitalizations of major companies across the world. However, the situation is improving gradually. The current COVID-19 outbreak is having a positive impact on the growth of the market as biopharmaceutical innovators are at the forefront of in vitro research and development for the search of vaccine and antiviral. The in vitro evaluation of vaccine and antivirals generally requires a culture media in which the targeted virus or bacteria is cultured and the response is identified. The rising focus of pharmaceutical industries on research and development is fueling the demand for culture media, further fueling demand for fetal bovine serum.

According to a research article titled 'Role of Viral Transport Media in Sustaining COVID-19 Testing' published in October 2020, Viral Transport Media is generally composed of Fetal Bovine Serum (FBS). A viral transport media is used for preserving and transporting samples. A viral transport media (VTM) is preferred over other types, as it is a non-toxic mixture of antimicrobials and buffered solutions that can preserve the COVID-19 virus while eliminating contaminant flora that might interfere with testing. Fetal Bovine Serum-based VTM has proven compatibility with a wide range of clinical tests from PCR to direct antigen testing to culture, allowing different tests to be run from the same sample. Thus, the fetal bovine serum market is expected to experience rapid growth.

Fetal bovine serum (FBS) is the most widely used growth supplement for cell culture because it cost-effectively supports the survival and growth of many cell lines. However, the FDA has put several requirements for the production process due to the risk of contamination. The increase in demand from users of traditional serum and the advancement in the research and academic initiatives by the private and government sectors are the major factors contributing toward the market growth. Fetal bovine serum is very important for novel research in drug development, and it finds diverse applications in cell-based biopharmaceutical research. Fetal bovine serum is an important feedstock in the pharmaceutical, biotechnology, and veterinary industries. Thus, the expansion of these industries is anticipated to fuel the global fetal bovine serum market growth.

Additionally, fetal bovine serum is also used as an additional media supplement for cell culture due to the high content of embryonic growth-promoting factors. The serum is considered one of the most effective growth promoters compared to the other animal-based serums available for most cell culture systems, indicative of an increase in the use of fetal bovine serum, which is expected to fuel the market growth.

Alternatively, scientific and ethical concerns are associated with the potential misuse of biotechnology research practices. There is also a lack in the number of skilled personnel due to which the fetal bovine serum market growth is restricted. In addition, the fetal bovine serum market is experiencing a major shift, primarily due to a significant rise in prices of fetal bovine serum over the recent years, which also acts as a key restraint.

Fetal Bovine Serum Market Trends

This section covers the major market trends shaping the Fetal Bovine Serum Market according to our research experts:

The Stem Cell Segment is Expected to Witness a Good Growth Over the Forecast Period

Stem cells have a wide range of applications in research studies as well in the biopharmaceutical industry, owing to which the market value for stem cells is the highest, as compared to the markets for other product types. The efficacy of cellular reprogramming for induced pluripotent stem cells leads to the high demand for the product. Stem cells have advantages over other stem cell types due to the broad variety of their tissue sources. The broader range of application of the stem cell is likely to fuel the segmental growth, as it requires fetal bovine serum cell line for tissue culture. In addition, the advantages of FBS in serum cell culture, such as its ability of stem cell differentiation, morphology, cell growth and expansion, and clonal efficiency, are driving their adoption. A particular lot of fetal bovine serum is tested extensively for its ability to support in vitro growth and the expansion of undifferentiated stem cell lines. Furthermore, there is a growing trend of adoption of technologically advanced stem cell lines, which poses capabilities, including steam-in-place (SIP) sterilization, filtration for sterility, and many others.

Fetal Bovine Serum Market: Stem Cell Research Expenditure (USD million), United States, 2016-2020

North America is Expected to Dominate the Market Over the Forecast Period

North America is the leading region due to the presence of major market players. The increased funding by government agencies, the presence of leading clinical diagnostics companies, and the rise in focus to develop biopharmaceuticals in North America fueled the regional market.

The United States is expected to be the largest market in the region. As per the report published by Congressional Research Service (2020), more than USD 134.1 billion for research and development (R&D) has been spent by the US government. The federal government in the United States is playing an important role in supporting research and development efforts, leading to scientific breakthroughs and new technologies. The United States is also benefiting from the presence of key market players, such as Merck KGaA, R&D Systems Inc., Rocky Mountain Biologicals, and TCS Biosciences Ltd, which have well-known portfolios of FBS products.

The country is witnessing rapid growth in the biopharmaceutical industry. Thus, research studies are on the rise, and ultimately, the demand for fetal bovine serum is increasing, as it plays a major role in the development or manufacturing of cell lines.

Fetal Bovine Serum Market Growth Rate by Region

Fetal Bovine Serum Industry Overview

The market for fetal bovine serum is highly competitive, with global and local players. Due to technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share. Some of the companies in the market are Bovogen Biologicals Pty Ltd, General Electric, HiMedia Laboratories, Merck KGaA, PAN-Biotech, R&D Systems Inc, Rocky Mountain Biologicals, TCS Biosciences Ltd, and Thermo Fisher Scientific.

Fetal Bovine Serum Market Leaders

  1. Merck KGaA

  2. PAN-Biotech

  3. Thermo Fisher Scientific

  4. HiMedia Laboratories

  5. GE Healthcare

*Disclaimer: Major Players sorted in no particular order

Fetal Bovine Serum Market Concentration
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Fetal Bovine Serum Market News

  • In April 2021, Thermo Fisher Scientific Inc. and PPD Inc. announced a definitive agreement under which Thermo Fisher will acquire PPD for USD 17.4 billion.
  • In March 2021, Merck KgAA announced that it will expand a single-use assembly production unit at its Life Science Center in Molsheim, France, with a EUR 25 million investment.

Fetal Bovine Serum Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Demand for Fetal Bovine Serum for Research Studies

      2. 4.2.2 Expansion of the Biopharmaceutical Industry

      3. 4.2.3 Increase in Investments and Funding for Research Interventions

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost and Chances of Viral Presence in the Product

      2. 4.3.2 Decrease in Cattle Herd Population Due to the Increased Demand of Dairy and Meat Products

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 By Product

      1. 5.1.1 Charcoal Stripped

      2. 5.1.2 Chromatographic

      3. 5.1.3 Dialyzed Fetal Bovine Serum

      4. 5.1.4 Exosome Depleted

      5. 5.1.5 Stem Cell

      6. 5.1.6 Other Products

    2. 5.2 By Application

      1. 5.2.1 Biopharmaceuticals

      2. 5.2.2 Cell Culture Media

      3. 5.2.3 Human and Animal Vaccine Production

      4. 5.2.4 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Research and Academic Institutes

      2. 5.3.2 Biotechnology and Pharmaceutical Industry

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 Bovogen Biologicals Pty Ltd

      2. 6.1.2 GE Healthcare

      3. 6.1.3 HiMedia Laboratories

      4. 6.1.4 Merck KGaA

      5. 6.1.5 PAN-Biotech

      6. 6.1.6 R&D Systems Inc.

      7. 6.1.7 Rocky Mountain Biologicals

      8. 6.1.8 TCS Biosciences Ltd

      9. 6.1.9 Thermo Fisher Scientific

      10. 6.1.10 R&D Systems Inc.

      11. 6.1.11 BioWest

    2. *List Not Exhaustive

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Fetal Bovine Serum Industry Segmentation

Fetal bovine serum (FBS) is the liquid fraction of clotted blood from fetal calves, depleted cells, fibrin, and clotting factors. It contains a high amount of nutritional and macromolecular factors essential for cell growth. FBS also contains a variety of small molecules like amino acids, sugars, lipids, and hormones. It is commonly used for biotechnological research purposes, including cancer research, the development of biopharmaceuticals, human and animal vaccines, and other research purposes. The fetal bovine serum market is segmented by product type, application, end-user, and geography.

The fetal bovine serum market is segmented by application (biopharmaceuticals, cell culture media, human and animal vaccine production, and other applications), product (charcoal-stripped, chromatographic, dialyzed fetal bovine serum, exosome depleted, stem cell, and other products), end user ( research and academic institutes, the biotechnology and pharmaceutical industry, and other end users), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

By Product
Charcoal Stripped
Dialyzed Fetal Bovine Serum
Exosome Depleted
Stem Cell
Other Products
By Application
Cell Culture Media
Human and Animal Vaccine Production
Other Applications
By End User
Research and Academic Institutes
Biotechnology and Pharmaceutical Industry
Other End Users
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
South America
Rest of South America
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Fetal Bovine Serum Market Research FAQs

The Global Fetal Bovine Serum Market is projected to register a CAGR of 9.20% during the forecast period (2024-2029)

Merck KGaA , PAN-Biotech , Thermo Fisher Scientific , HiMedia Laboratories and GE Healthcare are the major companies operating in the Global Fetal Bovine Serum Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Fetal Bovine Serum Market.

The report covers the Global Fetal Bovine Serum Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Fetal Bovine Serum Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Fetal Bovine Serum Industry Report

Statistics for the 2024 Fetal Bovine Serum market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fetal Bovine Serum analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Fetal Bovine Serum Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)