The report Bovine Serum Albumin Market is estimated to be valued at USD 255 million in 2019 and is projected to reach a value of USD 304 million by 2025, growing at a CAGR of 3.0% during the forecast period. Factors such as the inexpensive and stable nature of bovine serum albumin as a protein standard, growing demand for blood-based products are some of the factors driving the growth of the market.
Objectives of the Report:
- To define, segment, and project the global market size of the bovine serum albumin market
- To understand the bovine serum albumin market by identifying its various subsegments
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the micromarkets, with respect to individual growth trends, prospects, and their contribution to the total market
- To project the size of the market and its submarkets, in terms of value, with respect to the regions (along with their respective key countries)
- To profile the key players and comprehensively analyze their core competencies
- To understand the competitive landscape and identify the major growth strategies adopted by the players across the key regions
- To analyze the competitive developments such as expansions & investments, mergers & acquisitions, new product launches, partnerships, joint ventures, and agreements
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Market Dynamics:
Drivers
- Inexpensive and Stable Nature of Bovine Serum Albumin as A Protein Standard
- Growth of the Livestock Industry and Consequent Demand Generation for Blood-Based Products
- Rise in Application in the Food & Pharmaceutical Industries
Restraints
- Rise in Demand for Animal-Free Albumin Products
- Growth in Appeal to Replace Fetal Bovine Serum and Its Components in Cell Culture Applications
Opportunities
- Scope for Use as A Dietary Protein for Fat Reduction
- Usage in the Biodegradable and Edible Food Packaging Industry
Challenges
- Existence of Alternatives in the Diagnostic and Pharmaceutical Industries
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The Asia Pacific region holds a range of opportunities for pharmaceutical firms and multinational drugmakers. In the Asia Pacific region, China is the largest market for pharmaceutical products. With the growing interest in health and welfare, the demand for pharmaceutical products is growing. This would help drive the growth of BSA in this region.
Key Market Players:
The key players in this market include Thermo Fisher Scientific (US), Merck KGAA (Germany), Proliant Biologicals (US), Itoham Yonekyu Holdings Inc (Japan), and Bio-Rad Laboratories, Inc (US). Major players in this market are focusing on increasing their presence through new product launches, expansions & investments, and mergers & acquisitions. These companies have a strong presence in North America, Europe, and Asia Pacific. They also have manufacturing facilities along with strong distribution networks across these regions.
Trends & Forecast on Agricultural and Food Industry 