Global Serum Market, By Type (Bovine Serum, FBS, Other), Inactivation Technique (Heat Inactivated, Non-Heat Inactivated), Application (Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Others), End User (Biopharmaceutical and Biotechnology Industry, Diagnostics Laboratories, Research Laboratories, Academic Research), Sales Channel (Direct Channel, Distribution Channel) – Industry Trends and Forecast to 2030.
Serum Market Analysis and Size
Growing serum usage in high-end research, development, and commercialization, rising preferences for serum due to the prevalence of natural macro and micro nutrients, and rising demand for serum in medical diagnostics tests to measure albumin in the blood are some of the most important and insightful factors that will likely drive the serum market growth during the forecast period of 2023-2030.
Data Bridge Market Research analyses that the serum market which is USD 1.3 billion in 2022, is expected to reach USD 2.79 billion by 2030, at a CAGR of 10% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Serum Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Million, Volumes in Units, Pricing in USD
Type (Bovine Serum, FBS, Other), Inactivation Technique (Heat Inactivated, Non-Heat Inactivated), Application (Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Others), End User (Biopharmaceutical and Biotechnology Industry, Diagnostics Laboratories, Research Laboratories, Academic Research), Sales Channel (Direct Channel, Distribution Channel)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Thermo Fisher Scientific Inc (U.S.), Merck KGaA (Germany), Cytiva (U.S.), Bio-Techne (U.S.), Atlas Biologicals, Inc. (U.S.), Rocky Mountain Biologicals (U.S.), Takara Bio Inc. (Japan), PAN-Biotech (Germany), Sartorius AG (Germany), Corning Incorporated (U.S.), Bovogen Biologicals Pty Ltd. (Australia), Moregate Biotech (Australia), BIOWEST SAS (France), Caisson Labs Inc. (U.S.), Gemini Bio (U.S.)
Serum is a fluid and solute component of blood that does not contribute to clotting. It can be defined as blood plasma devoid of clotting factors or blood devoid of all cells and clotting factors. Serum contains all proteins that are not involved in blood clotting, as well as all electrolytes, antibodies, antigens, hormones, and any exogenous substances (for instance, drugs or microorganisms). No white blood cells (leukocytes), red blood cells (erythrocytes), platelets, or clotting factors are in serum.
Serum Market Dynamics
- Rise in awareness about age-related skin issues
Consumer awareness of age-related skin problems such as fine lines, wrinkles, and skin dullness, as well as an increased willingness to spend on products that help them proclaim their skin's youthfulness, are expected to drive the anti-aging segment throughout the forecast period. The desire to look younger is driving middle-aged consumers to purchase anti-aging serums. This trend is expected to continue throughout the forecast period. Manufacturers and skincare product providers are attempting to retain product features while capturing end-user attention through packaging innovation. The majority of beauty serums, as well as many other skin care and cosmetics products, are undergoing packaging changes. The anti-aging serums market is expected to follow suit in the coming years.
- Moisturizing and barrier repair properties to propel oil serum
Serums are thin, watery liquids with a high concentration of active ingredients. Serums are ideal for addressing specific skincare issues like acne, ageing, and dullness because they allow the product to penetrate deep beneath the skin's surface. Of all the facial serums, oil serum is the simplest to make. It is typically made up of high-end specialised carrier oils that absorb quickly (also known as 'dry' oils). The serum's high-end oils provide moisturising and barrier repair properties and polyphenols, essential fatty acids, and other skin-metabolizable compounds. Gel serums tighten the skin, giving users the sensation that their skin is being temporarily lifted or tightened in specific areas. Hence, oil serum is better than other skincare serums.
- Increase in demand for organic and natural skincare serums
Since the last few years, the cosmetics and personal care industry has seen rapid shift toward organic and natural products. The rise in health consciousness and customer concern about environmental sustainability has fuelled demand for organic and natural cosmetics. Organic, naturally produced, eco-friendly, sustainable, and vegan skincare products are now part of many people's skincare routines. To reflect sustainability, brands promote their products with terms like "eco-friendly packaging, environmentally friendly source, and zero waste." As a result, organic products have become a hot topic in the beauty industry, with brands promoting products with claims like "clear beauty," "water-free beauty," and "recyclable beauty." These are the certain factors which propel the market growth.
- Ethical concerns
Scientific and ethical concerns, as well as the prevalence of alternative culture media, are likely to hamper the growth of the serum market during the forecast period.
This serum market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the serum market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Serum Market
The COVID-19 pandemic had several negative effects on the serum market due to decreased sales of personal care products and customers' increased choices for health, hygiene, and protection items. Furthermore, due to the total lockdown, beauty salons are closed, resulting in a decrease in demand for facial serum. Furthermore, sales in the beauty industry are expected to fall in 2020. In China, sales in the beauty industry fell by 80% in 2020 compared to 2019. Because of the lockdown, women avoided wearing makeup on a daily basis, reducing facial serum sales to some extent. Furthermore, the supply chain was completely disrupted by the pandemic. During the pandemic, hypermarkets and supermarkets were closed, creating a void in the demand and supply of facial serum.
- In 2021, Unilever announced that it had signed an agreement to acquire the leading digital-led skincare brand Paul's Choice. The company is a forerunner in the development of science-based products and direct-to-consumer e-commerce. Its skincare product brands are sold through a global direct-to-consumer e-commerce channel as well as major retailers in North America, Europe, and Asia Pacific.
- In 2021, The Estée Lauder Companies (ELC) announced a partnership with delivery platform Uber Eats to deliver customers' favourite cosmetics on the same day they order.
- In 2022, Amway India launched Artistry Signature Select Personalized Serum, offering customised skincare solutions. Amway direct retailers and online portals sell this product. In addition, Amway India launched virtual training sessions for retailers and sellers.
Global Serum Market Scope
The serum market is segmented on the basis of type, inactivation technique, application, sales channel, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Bovine Serum
- Heat Inactivated
- Non-Heat Inactivated
- Biological Products
- Cell Culture
- Biopharmaceutical Drugs
- Vaccine Products
- Diagnostic Products
- Biopharmaceutical and Biotechnology Industry
- Diagnostics Laboratories
- Research Laboratories
- Academic Research
- Direct Channel
- Distribution Channe
Serum Market Regional Analysis/Insights
The serum market is analyzed and market size insights and trends are provided by country, type, inactivation technique, application, sales channel, and end user as referenced above.
The countries covered in the serum market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the serum market due to the increasing number of biological product research in the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the rising number of technological advancement in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Serum Market Share Analysis
The serum market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to serum market.
Some of the major players operating in the serum market are:
- Thermo Fisher Scientific Inc (U.S.)
- Merck KGaA (Germany)
- Cytiva (U.S.)
- Bio-Techne (U.S.)
- Atlas Biologicals, Inc. (U.S.)
- Rocky Mountain Biologicals (U.S.)
- Takara Bio Inc. (Japan)
- PAN-Biotech (Germany)
- Sartorius AG (Germany)
- Corning Incorporated (U.S.)
- Bovogen Biologicals Pty Ltd. (Australia)
- Moregate Biotech (Australia)
- BIOWEST SAS (France)
- Caisson Labs Inc. (U.S.)
- Gemini Bio (U.S.)