Global Bovine Serum Albumin Market, by Form (Dry and Liquid), by Grade (Technical and Diagnostic Grade, Research/Reagent Grade, and Food Grade), by Application (In Vitro Diagnostics, Vaccine Production, Biochemical Assay, and Others), by End User (Life Science Industry, Food Industry, Research Institutes, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 291.7 Mn in 2021 and is expected to exhibit a CAGR of 3.1% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing demand for biopharmaceuticals is expected to expand the customer base, which is further expected to drive growth of the market over the forecast period. Biopharmaceutical is a medicinal product that is derived from biological sources such as animals, humans, and microorganisms using biotechnology. They are manufactured using stem cells, mammalian cells, and others or through tissue culture methods. Over the years, the demand for biopharmaceuticals is increasing and this has driven demand for BSA in culture medium.
Global Bovine Serum Albumin Market– Impact of Coronavirus (COVID-19) Pandemic
Covid-19 pandemic have disrupted manufacturing and supply chain activities in China, India, the U.S., and other countries due to lockdown, while countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation of reagents and consumables. Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global bovine serum albumin market during the forecast period.
BSA is usually imported from other countries such as the U.S., New Zealand, and others for research activities and others. There are some guidelines, which has been updated by the regulatory bodies of various countries for importing as well as exporting of the biological samples during COVID-19 pandemic. For instance, Animal and Plant Health Inspection Service (APHIS), the United States Department of Agriculture (USDA), and Veterinary Services (VS) regulates the import of animals and animal-derived materials to understand the specific restrictions for the commodities imported as part of the U.S.’ response to the coronavirus disease 2019 (COVID-19).
Browse 27 Market Data Tables and 31 Figures spread through 251 Pages and in-depth TOC on “Global Bovine Serum Albumin Market”- Forecast to 2028, Global Bovine Serum Albumin Market, by Form (Dry and Liquid), by Grade (Technical and Diagnostic Grade, Research/Reagent Grade, and Food Grade), by Application (In Vitro Diagnostics, Vaccine Production, Biochemical Assay, and Others), by End User (Life Science Industry, Food Industry, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Bovine Serum Albumin Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/bovine-serum-albumin-market-4636
Moreover, increasing R&D activities is expected to aid in growth of the global bovine serum albumin market over the forecast period. For instance, in February 2020, Proliant Biologicals announced that their product, bovine serum albumin was utilized by the researchers at the Department of Medicine and Stony Brook Cancer Center, Stony Brook University, U.S., for the study of the following published article ‘“Sphingosine kinase 1 is required for myristate-induced TNFα expression in intestinal epithelial cells”.
Key Takeaways of the Global Bovine Serum Albumin Market:
- Global bovine serum albumin market is expected to exhibit a CAGR of 3.1% during the forecast period owing to key players focusing on adopting inorganic growth strategies such as agreements and collaborations, in order to expand their product portfolio. For instance, in June 2021, Captivate Bio, a provider of scientific cell culture solutions, announced to that it signed a non-exclusive distribution agreement with Israel-based Biological Industries, now part of the Sartorius Group to distribute its portfolio of cell culture and cytogenetic reagents in the U.S.
- Based on form, dry segment is estimated to account for largest market share in the global bovine serum albumin market in 2021. Drying allows to preserve perishable materials by extending shelf life and hence material becomes more convenient for transport. Dry powder of BSA remains stable at room temperature for 3 weeks. Owing to these factors, dry bovine serum albumin is expected to account for largest market share.
- Among grade, technical and diagnostic grade segment is estimated to account for largest market share in the global bovine serum albumin market in 2021. The technical & diagnostic grade of BSA is mostly used for biotechnology applications such as blocking agent. Several companies provide BSA as a blocking reagent such as Bovogen Biologicals Pty Ltd, Gemini Bioproducts LLC, Proliant Biologicals, LLC., Rockland Immunochemicals, Inc., and Rocky Mountain Biologicals
- On the basis of application, biochemical assays segment is estimated to grow with the highest CAGR in the global bovine serum albumin market over the forecast period. Biochemical assay is used to quantify and detect cellular processes or metabolic reactions. Biochemical assays are routinely used procedure that helps in understanding bimolecular functions and in characterizing target compounds. Hence biological assay segment is expected to account for largest share during the forecast period.
- On the basis of end user, life science industry segment is estimated to hold a dominant position in the global bovine serum albumin market over the forecast period. The rising healthcare expenditure is expected to increase the production of various pharmaceuticals, neutraceuticals, biotechnological products which, in turn, will drive growth of the global bovine serum albumin market over the forecast period.
- Among regions, Asia Pacific is expected to exhibit highest CAGR in the global bovine serum albumin market in 2021, owing to strategies such as product distribution adopted by key players in the Asia Pacific region. For instance, in 2017, Proliant Biologicals LLC, a U.S.-based manufacturer of bovine serum albumin (BSA), received approval from the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China to export its products such as bovine serum albumin and cattle protein to China.
- 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, 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.
