PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477172
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477172
Bovine Plasma Market size was valued at USD 902.12 Million in 2023, expanding at a CAGR of 5.6% from 2024 to 2032.
Bovine blood plasma derivatives are derived from the blood of cattle. These derivatives have various applications in food processing, biopharmaceuticals, and animal feed. Bovine Blood Plasma is widely used in a wide range of scientific endeavours, such as protein structure analysis, coagulation research, in vitro studies, medical research, and biochemical research. The global Bovine Plasma market is anticipated to grow at a faster rate during the forecast period due to the industry players' increased efforts to maintain a steady and uninterrupted supply of essential raw materials to ensure quality improvement. However, the High manufacturing cost of drugs developed from Bovine Plasma is hindering the growth of the global Bovine Plasma market. Furthermore, many food & beverage companies incorporate Bovine Plasma in functional foods which are expected to grow the market in future.
Bovine Plasma Market- Market Dynamics
Increasing use of bovine blood plasma derivatives in biopharmaceutical companies
The use of bovine blood plasma derivatives in biopharmaceutical companies has been steadily increasing due to their diverse applications in research, diagnostics, and therapeutics. Bovine blood plasma contains various proteins and factors that are valuable for cell culture media, protein purification, and as supplements in cell culture systems. Furthermore, advancements in purification techniques and stringent quality control measures have enhanced the safety and efficacy of bovine blood plasma derivatives, thereby increasing their acceptance in the biopharmaceutical industry. Furthermore, the increasing use of bovine blood plasma derivatives in biopharmaceutical companies reflects their versatility, cost-effectiveness, and effectiveness in supporting various research and manufacturing processes within the biopharmaceutical sector.
Bovine Plasma Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.6% over the forecast period (2024-2032)
Based on grade segmentation, the technical grade was predicted to show maximum market share in the year 2023
Based on application segmentation, cell culture was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Bovine Plasma Market is segmented based on Derivative Type, Grade, Application, End user, and Region.
The market is divided into two categories based on grade: technical and standard. Technical grade plasma bovine has lower purity requirements compared to pharmaceutical-grade plasma products. It's often used in various industrial processes, such as cell culture media, diagnostics, biotechnology research, and as a supplement to microbiological media. The standard grade of Bovine Plasma typically refers to its quality and suitability for various applications, particularly in the fields of research, diagnostics, and pharmaceuticals
The market is divided into four categories based on application: cell culture media, vaccine production, drug discovery and forensic studies. Plasma bovine is commonly used as a supplement in cell culture media to provide essential nutrients, growth factors, and hormones necessary for the growth and proliferation of cells. In addition, it is often used in the production of vaccines as a component of cell culture media for growing the cells used to produce viral vaccines.
Bovine Plasma Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In North America, the market share for veterinary pharmaceuticals and biotechnology products is leading the market. In the United States and Canada, there's a significant market for Bovine Plasma-derived products, driven by a strong focus on animal health and veterinary care. Countries in Europe, such as the UK, Germany, France, and the Netherlands, also have a considerable market for veterinary products. The European Union's regulations on animal health and welfare may influence the market dynamics for Bovine Plasma products in this region.
Several companies are involved in the production of Bovine Plasma products, including large multinational corporations, medium-sized enterprises, and smaller regional players. Key players include Thermo Fisher Scientific, Moregate BioTech, Gemini, VWR International, LLC have extensive networks for sourcing Bovine Plasma, advanced processing facilities, and established distribution channels. Thermo Fisher has a vast and diverse portfolio, with a strong presence across various segments of the life sciences industry, including pharmaceuticals, biotechnology, academic research, and clinical diagnostics. Some companies have a strong presence in specific regions or countries, while others operate globally, leveraging their distribution networks and strategic partnerships.
In April 2023, Japanese multinational pharmaceutical company, Takeda announced to opening of a new plasma-derived therapy manufacturing facility by investing $755.8m in Osaka by 2030. This investment aims to strengthen the company's manufacturing and supply capabilities to meet the increasing patient demand for PDTs in Japan and worldwide.
GLOBAL BOVINE PLASMA MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Thermo Fisher Scientific
Moregate BioTech
Gemini
Tissue Culture Biologicals
Bovogen Biologicals Pty Ltd
ROCKY MOUNTAIN BIOLOGICALS
Merck KgaA
VWR International, LLC.
Cygnus Technologies
BioVision Inc
GeneTex
Others