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(Health-NewsWire.Net, April 02, 2021 ) The report "Bovine Serum Albumin Market by Form (Dry, Liquid), Grade (Technical-& Diagnostic-Grade, Research/Reagent-Grade, Food Grade), End User (Life Sciences Industry, Feed Industry, Food Industry, Research Institutes), and Region - Global Forecast to 2025", 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.
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The dry segment, by form, is estimated to account for a larger market share in 2019
The dry segment is estimated to hold a larger market share due to its properties such as longer shelf-life and stability, alongside other aspects such as ease of handling and transportation. The dry form of BSA is majorly used as a feed additive. Some of the major feed producing countries such as China, the US, Russia, India, and Mexico pose a heavy demand for feed additives due to which the demand for BSA is growing in these countries.
The feed industry segment, by end user, is estimated to witness the fastest growth in the bovine serum albumin market in 2019
The feed industry makes extensive use of food derived from animal blood for livestock production due to which the demand for BSA is growing in this sector. Livestock is one of the fastest-growing sectors within the agricultural industry, and it accounts for about 40% of the global value of agricultural production. The growing opportunities for bioactive ingredients in the feed industry are driving the growth of this segment.
The technical-& diagnostic-grade, by grade, is estimated to account for the largest market share, by value, in 2019
This segment holds the largest market share in the bovine serum albumin market since it has a widespread application in the pharmaceutical and diagnostic industries. This grade is preferred in the life sciences industry due to its characteristic properties such as solubility and ease of filtration. This grade is also suitable for biotechnological applications such as immune detections, as a blocking agent and saturating agent. It is also used in cell culture applications.
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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.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the bovine serum albumin market. It includes the profiles of leading companies such as Thermo Fisher Scientific (US), Bio-Rad Laboratories, Inc (US), Merck KGAA (Germany), Itoham Yonekyu Holdings Inc (Japan), Proliant Biologicals (US), Kraeber & Co Gmbh (Germany), Rockland Immunochemicals Inc (US), Rocky mountain biologicals (US), BelHealth investment partners, LLC (US), Bio-Techne Corporation (US), Prospec-Tany Technogene Ltd (Israel), LGC Group (UK), Promega Corporation (US), Biological Industries (Israel), and Serion GmbH (Germany).
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