Global Newborn Calf Serum Market, By Origin (New Zealand Origin, U.S. Origin, Australia Origin, and Others (Brazil Origin, Mexico Origin, etc.)), By Application (Drug Discovery, Cell Media Culture, and Others), By End User (Biotechnology & Pharmaceutical Industries, Academic Institutes, and Others (Research labs and Diagnostic Labs, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) is estimated to be valued at US$ 222.2 Million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).
Market players are getting approvals for cell culture-based vaccine production from regulatory bodies, which will boost the global newborn calf serum market growth. For instance, in January 2021, the National Regulator, Drugs Controller General of India (DCGI), had approved COVID-19 vaccine named Covaxin. Newborn calf serum is one of the key ingredients in media used for culture cells in the manufacturing of Covaxin. Newborn calf serum is used for the growth of vero cell line which is used in the production of vaccine.
Global Newborn Calf Serum Market - Impact of Coronavirus (COVID – 19) Pandemic
Over the projected period, the coronavirus pandemic is expected to propel the market expansion for newborn calf serum. The most recent pandemic, COVID-19, was initially identified in Wuhan, China, on December 31, 2019. On March 11, 2020, the World Health Organization declared coronavirus illness a pandemic. After May 15, 2022, fewer new cases have been reported, according to the World Health Organization's (WHO) Weekly Epidemic Update on COVID-19. As a result, as of May 15, 2022, there have been 518 million documented cases and nearly 6 million fatalities.
After COVID-19 pandemic, the increasing need to produce vaccines, diagnostics, and medical devices led many competitors in life sciences sector to increase the research and development of cell culture. The increasing use of cell culture techniques is expected to boost the global newborn calf serum market growth. For instance, in May 5, 2022, Avance Biosciences, a leading Contract Research Organization (CRO) announced the expansion of new facilities for mammalian cell culture and protein analysis services, in order to assist its biopharmaceutical and contract development and manufacturing organization (CDMO) clients with the discovery, development, and regulatory filings of their therapeutic biologics. Avance will be able to use these new facilities, in order to better serve the specific needs of its Good Manufacturing Facilities (GMP) clients, which will be dedicated to protein and cell-based assay services.
Browse 34 Market Data Tables and 42 Figures spread through 420 Pages and in-depth TOC on Global Newborn Calf Serum Market, By Origin (New Zealand Origin, U.S. Origin, Australia Origin, and Others (Brazil Origin, Mexico Origin, etc.)), By Application (Drug Discovery, Cell Media Culture, and Others), By End User (Biotechnology & Pharmaceutical Industries, Academic Institutes, and Others (Research labs and Diagnostic Labs, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Market players are involved in inorganic activities such as collaboration with other competitors of life sciences industry in order to expand their portfolio. This is expected to drive the growth of the global newborn calf serum market over the forecast period. For instance, in 2021, Nurix Therapeutics, a biopharmaceutical company, announced a collaboration with Sanofi, a multinational healthcare company, to develop Novel targeted Protein Degradation Therapies. Under this collaboration, Nurix will utilize its ownership for drug discovery platform. Cell culture techniques will be used in the new drug discovery to test the effectiveness of the pharmacological agent, which may boost the utilisation of newborn calf serum.
Key Takeaways of the Newborn Calf Serum Market:
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