Fetal Bovine Serum Market Size, Share, Growth & Industry Analysis, By Application (Scientific Research & Calibration Assays, Cell Culture Media, Drug Discovery & Others), By Type (Charcoal Stripped, Stem Cells, Dialyzed, Optima Grade FBS), By End-User and Regional Analysis, 2024-2031

Fetal Bovine Serum Market Size

The global Fetal Bovine Serum Market size was valued at USD 1,290.4 million in 2023 and is projected to grow from USD 1,369.4 million in 2024 to USD 2,202.7 million by 2031, exhibiting a CAGR of 7.03% during the forecast period. The fetal bovine serum (FBS) market is expanding significantly, driven by its critical role in biotechnology and regenerative medicine.

Increasing global demand is supported by geographical diversification in production, which includes the incorporation of emerging suppliers from South America and Europe. Increased investments in life sciences research and the rising prevalence of chronic diseases further propel market growth.

In the scope of work, the report includes solutions offered by companies such as Thermo Fisher Scientific Inc., Sartorius AG, Cytiva, Merck KGaA, HiMedia Laboratories, Bio-Techne, PAN-Biotech, Atlas Biologicals, Inc., Rocky Mountain Biologicals, Biowest, and others. The fetal bovine serum market is experiencing robust growth due to its pivotal role in biomedical research and therapeutic development.

FBS is indispensable for cell culture applications in biotechnology and regenerative medicine, thereby fueling demand. Geographical diversification in production, with emerging suppliers from South America and Europe alongside established leaders, ensures a resilient and diversified supply chain, thereby minimizing operational risks and meeting expanding market requirements. These factors are creating a competitive market landscape, by stimulating innovation, enhancing cost-efficiency, and fostering expansion opportunities among industry participants.

• On March 27, 2024, Sartorius and LFB BIOMANUFACTURING announced a collaboration focused on cell line development and manufacturing. As part of this partnership, LFB BIOMANUFACTURING intends to outsource its cell line development services to Sartorius, leveraging the combined expertise of both companies to enhance customer value.

This collaboration highlights the growing trend of strategic partnerships within the biopharmaceutical industry, which directly impacts the fetal bovine serum (FBS) market.

Fetal bovine serum (FBS), is a nutrient-rich fluid extracted from the blood of fetal bovines. It serves as a vital component in cell culture media, which is crucial for biomedical research, biotechnology, and pharmaceutical applications. FBS contains a complex mixture of proteins, growth factors, hormones, and other nutrients essential for the development and proliferation of cells outside their natural environment.

Its ability to support cell viability and maintain cellular functions under controlled laboratory conditions makes FBS indispensable in studying cell biology, drug development, vaccine production, and regenerative medicine research.

Analyst’s Review

The expansion of the biopharmaceutical industry, particularly in developing countries, is creating lucrative opportunities and increasing the adoption rate of fetal bovine serum (FBS).

• For instance, in 2023, BARDA provided funding for the expansion of the National Center for Therapeutics Manufacturing (NCTM) to enhance hands-on advanced training in mRNA vaccine technologies and upstream drug substance processing. Later that year, BARDA augmented its support to NCTM, thereby solidifying its position as a leading biomanufacturing training facility. Additionally, with backing from the World Health Organization and the Africa Centres for Disease Control, NCTM provides trainsing for biopharmaceutical workers in vaccine manufacturing across Africa.

This development is facilitating market growth due to surging demand for FBS in training and production. By aligning with these initiatives, companies are striving to ensure a steady demand for their products, strengthen their market presence, and contribute to the growth and development of the biopharmaceutical industry globally.

Fetal Bovine Serum Market Growth Factors

The increasing global prevalence of chronic diseases such as cancer, diabetes, and neurological disorders is significantly fueling the growth of the serum market. FBS is playing a pivotal role in research on these diseases by providing essential nutrients and growth factors necessary for cell culture. As the prevalence of these chronic diseases is rising, there is a growing need for comprehensive research to understand disease mechanisms and develop new therapies.

This increasing demand for FBS in research is propelling market growth, as researchers and healthcare institutions are investing heavily in the study and treatment of chronic illnesses, thereby ensuring sustained market expansion.

Ethical and regulatory concerns regarding the use of animal-derived products are hindering the growth of the fetal bovine serum market. Increased scrutiny from regulatory bodies and the demand for more humane and sustainable alternatives are impacting the market. To mitigate these challenges, key players are investing heavily in the development of serum-free and chemically defined media, which reduce reliance on animal-derived products.

Additionally, they are adopting more stringent ethical standards and improving transparency in their supply chains to address regulatory concerns and public perception. By focusing on innovation and sustainability, these companies are responding to ethical and regulatory pressures, which are slated to aid market growth in the coming years.

Fetal Bovine Serum Market Trends

The biotechnology and pharmaceutical industries are relying heavily on fetal bovine serum (FBS) for diverse applications, including cell culture, vaccine production, and research. The burgeoning focus on biopharmaceuticals and regenerative medicine is leading to increased demand for high-quality FBS. This trend is further fueled by the development of innovative therapies and biologics that require reliable and consistent cell culture media.

FBS supplies the necessary nutrients and growth factors to support cell growth and proliferation. As the landscape of therapeutic development is evolving, the reliance on FBS is expected to grow, underscoring its critical role in advancing medical and scientific research.

The geographical diversification of fetal bovine serum (FBS) production is propelling market growth by enhancing supply chain resilience and meeting rising global demand. As countries in South America and Europe emerge as substantial producers alongside traditional suppliers such as the United States and Australia, the market benefits from a more robust and diversified production base.

This shift helps mitigate risks associated with geopolitical instability and natural disasters that could potentially disrupt supply chains. Moreover, the competitive dynamics are intensified with new entrants and established suppliers expanding their capacities, thereby fostering innovation and enhancing cost competitiveness.

This geographic expansion ensures a steady supply of FBS while also supporting its crucial role in biomedical research and therapeutic development. Expanding production locations, enables the industry to better address diverse market needs, thereby sustained growth and innovation in the FBS market.

Segmentation Analysis

The global market is segmented based on application, type, end-user, and geography.

By Application

Based on application, the market is categorized into scientific research & calibration assays, cell culture media, human and animal vaccine production, diagnostic, drug discovery, and others. The cell culture media segment led the fetal bovine serum market in 2023, reaching a valuation of 403.0 million. Cell culture media includes various formulations that support in vitro cell growth, with FBS being essential due to its rich nutrient profile and growth factors.

The rising demand for advanced cell culture media is fueled by increased biopharmaceutical research, particularly in drug discovery, development, and vaccine production. Additionally, regenerative medicine and stem cell research require specialized media for cell growth and differentiation, thereby boosting segmental growth.

Cancer research and personalized medicine demand precise cell culture conditions, which often involve the use of FBS. The outsourcing of cell line development to contract research and manufacturing organizations (CROs and CMOs) further fuels the need for consistent, high-quality media, thereby supporting segmental growth.

By Type

Based on type, the market is categorized into charcoal stripped, stem cells, dialyzed, optima grade FBS, and others. The stem cells segment captured the largest fetal bovine serum market share of 32.67% in 2023. Stem cells, renowned for their regenerative potential, require specialized culture media for growth and differentiation in vitro. FBS provides essential nutrients, growth factors, and hormones that are crucial for supporting stem cell proliferation and maintaining cellular functions.

• For instance, Bio-Techne Corporation submitted a Drug Master File (DMF) to the FDA for its ExCellerate GMP iPSC Expansion Medium, Animal Free (CCM036-GMP).

This launch highlights the industry's shift toward animal-free alternatives in stem cell culture, showcasing innovations that meet regulatory standards and advance regenerative medicine. Advancements in stem cell technologies, such as induced pluripotent stem cells (iPSCs) and mesenchymal stem cells (MSCs), further fuel this growth.

By End-User

Based on end-user, the market is divided into research and academic institutions, contract research organizations, pharmaceuticals & biotech companies, and others. The pharmaceuticals & biotech companies segment is expected to garner the highest revenue of USD 955.6 million by 2031.

These companies rely extensively on FBS for cell culture applications that are critical to drug discovery, development, and production. FBS supplies essential nutrients, growth factors, and hormones vital for cultivating cells used in biopharmaceutical research and manufacturing. With advancements in biotechnology and the increasing demand for biologics and personalized medicine, the necessity for reliable and high-quality cell culture media, such as FBS, is becoming increasingly critical.

This reliance on FBS underscores its indispensable role in facilitating innovative research and developing therapeutic solutions to address global health challenges, thereby fostering segmental growth.

Fetal Bovine Serum Market Regional Analysis

Based on region, the global market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

North America fetal bovine serum market share stood around 36.78% in 2023 in the global market, with a valuation of USD 474.6 million. This growth is largely attributed to substantial investments in research and development (R&D).

• According to a report by the White House, the US government allocated $204.9 billion for Federal R&D in 2023, marking a 28 percent increase compared to previous levels.

This funding supports scientific advancement and technological innovation, strengthening the biopharmaceutical sector and expanding research projects that rely on FBS for cell line development and production. As the biopharmaceutical industry in the US continues to grow, the demand for FBS is expected to rise, reinforcing its pivotal role in advancing biomedical research and therapeutic developments.

Asia-Pacific is anticipated to witness substantial growth at a CAGR of 8.11% over the forecast period, mainly due to the proliferation of pharmaceutical industries across countries in the region. Increasing investments and support from governments further bolsters this growth, creating a conducive environment for biopharmaceutical research and development.

Additionally, rising healthcare demands and a growing population contribute to the increasing need for improved pharmaceuticals, thereby boosting the demand for FBS in cell culture applications that are essential for drug discovery and development. As Asia Pacific continues to advance in biomedicine, the FBS market is expected to expand, charaterized by ongoing developments and innovations in the pharmaceutical sector.

Competitive Landscape

The global fetal bovine serum market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.

Companies are implementing impactful strategic initiatives, such as expanding services, investing in research and development (R&D), establishing new service delivery centers, and optimizing their service delivery processes, which are likely to create new opportunities for market growth.

List of Key Companies in Fetal Bovine Serum Market

• Thermo Fisher Scientific Inc.
• Sartorius AG
• Cytiva
• Merck KGaA
• HiMedia Laboratories
• Bio-Techne
• PAN-Biotech
• Atlas Biologicals, Inc.
• Rocky Mountain Biologicals
• Biowest

The global fetal bovine serum market is segmented as:

By Application

• Scientific Research & Calibration Assays
• Cell Culture Media
• Human and Animal Vaccine Production
• Diagnostic
• Drug Discovery
• Others

By Type

• Charcoal Stripped
• Stem Cells
• Dialyzed
• Optima Grade FBS
• Others

By End User

• Research and Academic Institutions
• Contract Research Organizations 
• Pharmaceuticals & Biotech Companies
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • U.K.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America