Global Fetal Bovine Serum Market was valued US$ XX Mn in 2018 and is expected to reach US$ 1067.4 Mn by 2026, at CAGR of XX% during forecast period.
Global Fetal Bovine Serum Market
The development in research and academic initiatives by the private and governmental sector is expected to drive the market growth. The research and development activities and the expansion of the product portfolio, which is expected to enhance the growth of the market in the next few years. Also, a significant increase in the number of academic research institutes is expected to encourage the growth of the global fetal bovine serum market during the forecast period. The rising initiative from governments, who are coming together with academic research institutes in order to encourage and support the research activities is further expected to accelerate the growth of the market in the near future.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Furthermore, the rapid growth of the pharmaceutical, biotechnology, and animal health industries is likely to generate potential growth opportunities for the market players in the next few years. Additionally, the growing demand from traditional users of serum is also expected to boost the growth of the market. As fetal bovine serum has a higher efficiency rate than normal blood serum it is expected to drive the growth of the overall serum market. Also, the increasing number of collaborations and mergers and acquisitions is projected to generate good opportunities for the market players. At the same time, decrease in cattle herd population due to the increased demand for dairy and meat products, and high cost and chances of viral presence in the product these factors are expected to limiting the market growth.
According to the end user, the fetal bovine serum industry is bifurcated into biotechno