The global Newborn Calf Serum market is estimated to be valued at US$ 222.2 Mn in 2022 and is expected to exhibit a CAGR of 6.8% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Newborn Calf Serum is a widely used cell culture product derived from the blood of newborn calves. It is rich in growth factors, hormones, and highly nutritious components that enhance cell growth and proliferation. The increasing demand for cell culture products for various applications such as vaccine production, pharmaceutical research, and regenerative medicine is driving the growth of the global Newborn Calf Serum market. Moreover, it offers advantages such as high protein content, low endotoxin levels, and high quality assurance, which further boosts its adoption in cell culture processes.
Market Key Trends:
One key trend in the Newborn Calf Serum market is the growing focus on animal welfare and sustainability. There is an increasing demand for serum alternatives and serum-free media due to ethical concerns related to the collection of serum from newborn calves. Several companies are investing in research and development activities to develop innovative serum-free media formulations that can replace traditional Newborn Calf Serum without compromising cell growth and viability. For example, Merck KGaA has developed a serum-free media formulation called EX-CELL Advanced HD Perfusion Medium that supports high-density cell culture processes.
PEST Analysis:
Political: The regulatory framework governing the use of animal-derived products in cell culture processes may impact the Newborn Calf Serum market. Stringent regulations related to animal welfare and ethical sourcing of animal-derived products may require manufacturers to comply with specific guidelines and obtain necessary certifications.
Economic: The economic factors such as healthcare expenditure, research and development investment, and GDP growth rate of the countries can influence the demand for Newborn Calf Serum. The growing biopharmaceutical industry and increasing investment in regenerative medicine are expected to drive the market growth.
Social: The increasing prevalence of chronic diseases and the rising demand for personalized medicine are influencing the growth of the Newborn Calf Serum market. The advancements in cell culture technology and its wide range of applications have generated significant interest among researchers and scientists.
Technological: Technological advancements in cell culture techniques, such as the development of serum-free media formulations and the use of recombinant growth factors, are driving innovation in the Newborn Calf Serum market. These advancements aim to improve the quality and performance of cell culture products while addressing the ethical concerns associated with traditional serum-based products.
Key Takeaways:
– The global Newborn Calf Serum Market Segmentation is expected to witness high growth, exhibiting a CAGR of 6.8% over the forecast period, due to increasing demand for cell culture products.
– North America is expected to be the fastest-growing and dominating region in the Newborn Calf Serum market, owing to the presence of key players and well-established biopharmaceutical and biotechnology industries.
– Key players operating in the global Newborn Calf Serum market include HiMedia Laboratories, Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Corning Inc., Atlas Biologicals, Inc., TCS Biosciences Ltd., Bovogen Biologicals Pty Ltd., Novus Biologicals, LLC, Capricorn Scientific, PAN-Biotech GmbH, Atlanta Biologicals, Inc., Rocky Mountain Biologicals, GE Healthcare, Serana, and Zhejiang Tianhang Biotechnology.
In conclusion, the global Newborn Calf Serum market is expected to witness significant growth in the coming years, driven by the increasing demand for cell culture products and advancements in cell culture technology. The market is also witnessing a shift towards serum-free alternatives, driven by ethical concerns and sustainability initiatives. Key players are investing in R&D activities to develop innovative products that can meet the growing demands of the biopharmaceutical and biotechnology industries.
