Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Bovine serum albumin (BSA or "Fraction V") is a serum albumin protein, which is extracted from blood plasma of cows. BSA is available in various forms such as powder or liquid for use in immunology, biochemistry and immunology related researchers. BSA’s immunoassay applications include enzyme-linked immunosorbent assay (ELISA), Western blot & dot blot, and immunocytochemistry, which include immunofluorescence microscopy and immunohistochemistry. In microbial and cell cultures, BSA, generally from fetal source are used as source of nutrients. BSA find its application in several market sectors such as agricultural biotechnology, animal breeding, marine biotechnology and aquaculture, food and beverages, chemicals and enzymes, and others.
The global bovine serum albumin market is estimated to be valued at US$ 291.7 million in 2021 and is expected to exhibit a CAGR of 3.1% during the forecast period (2021-2028).
Figure 1.Global Bovine Serum Albumin Market Share (%) in Terms of Value, By Form, 2021
Increasing launch of new products is expected to drive the market growth during the forecast period.
The increasing launch of new product lines of bovine serum albumin is expected to propel the global bovine serum albumin market growth during forecast period. For instance, in February 2019, Proliant Biologicals launched its new line of BSA solutions. The product line include a variety of ‘Ultra-high Monomer’ BSA solutions, as well as a number of standard 30% BSA solutions.
Figure 2.Global Bovine Serum Albumin Market Share (%), By Grade, 2021
Key players operating in the global bovine serum albumin market are focusing on adoption of inorganic growth strategies such as acquisitions, which is expected to drive the market growth during the forecast period.
Key companies are focusing on inorganic strategies such as acquisitions, in order to strengthen their product portfolio and this is expected drive growth of the global bovine serum albumin market over the forecast period. For instance, in July 2020, LGC acquired The Native Antigen Company (NAC), a supplier of high quality infectious disease antibodies and antigens. The acquisition expanded LGC's existing product portfolio in the in vitro diagnostics sector, which include a variety of immunoassay reagents, quality assurance tools, probes, and primers for molecular diagnostics.
Bovine Serum Albumin Market Report Coverage
||Market Size in 2021:
||US$ 291.7 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 361.1 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Form: Dry, Liquid
- By Grade: Technical & Diagnostic Grade, Research / Reagent Grade, Food Grade
- By Application: In vitro Diagnostics, Vaccine Production, Biochemical Assays, Others
- By End User: Life Science Industry, Food Industry, Research Institutes, Others
LGC Group, Promega Corporation, Biological Industries, Serion GmbH, Life Sciences Group Ltd., Sisco Research Laboratories Pvt. Ltd., Bovogen Biologicals Pty Ltd., Biophyll GmbH, AusGeneX Pty Ltd., Gemini Bio, Bio-Rad Laboratories,Inc, Merck KGaA, Proliant Biologicals, LLC, Rockland Immunochemicals, Inc., Rockey Mountain Biologicals, LAMPIRE Biological Lab, Inc., Bio-Techne Corporation, Prospec- Tany Technogene Ltd., Kraeber and Co GmbH, Thermo Fisher Scientific Inc., and Canvax.
- Increasing Demand for Biopharmaceuticals
- Inexpensive and Stable Nature of Bovine Serum Albumin as Protein Standard
|Restraints & Challenges:
- Increasing Demand for Animal Free Albumin Products
Global Bovine Serum Albumin Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one such sectors, which has been majorly impacted by the pandemic.
BSA is used for the manufacture of COVID-19 vaccine, as well as COVID-19 diagnostic tests. This is expected to increase the demand of bovine serum albumin market over the forecast period. For instance, on January 26, 2021, New England Biolabs scientists used BSA for detection of RNA from SARS-CoV-2, through colorimetric Loop mediated isothermal amplification (LAMP) assay. During their study, they found that bovine serum albumin provided faster detection signal as the amplification was faster where BSA was used.
However, the pandemic has also impacted negatively on production, development, and supply of consumables and reagents such as bovine serum albumin and affected businesses of various companies operating in the healthcare sector across the globe. The pandemic has led to closure of industrial establishments, except manufacturing of essential commodities, and disruption in supply chain of medical devices.
Global Bovine Serum Albumin Market: Restraint
The major factor that is expected to hinder growth of the global bovine serum albumin market include increasing demand for animal free albumin products. Animal-free proteins or recombinant proteins offer an alternative to bovine serum albumin (BSA) for researchers concerned about the experimental variables caused by the use of reagents containing trace animal components and mammalian pathogens. Hence, increasing adoption of alternative products such as recombinant proteins over BSA is expected to hamper the market growth over the forecast period.
Major players operating in the global bovine serum albumin market include LGC Group, Promega Corporation, Biological Industries, Serion GmbH, Life Sciences Group Ltd., Sisco Research Laboratories Pvt. Ltd., Bovogen Biologicals Pty Ltd., Biophyll GmbH, AusGeneX Pty Ltd., Gemini Bio, Bio-Rad Laboratories Inc, Merck KGaA, Proliant Biologicals, Rockland Immunochemicals, Inc., Rockey Mountain Biologicals, LAMPIRE Biological Lab, Inc., Bio-Techne Corporation, Prospec- Tany Technogene Ltd., Kraeber and Co GmbH, Thermo Fisher Scientific Inc., and Canvax.