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)
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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: