What are the Historical Developments and Current Growth Metrics of the Serum Market?
The serum market has seen considerable growth due to a variety of factors.
• In recent years, the size of the serum market has seen swift expansion. It's projected to increase from $1.42 billion in 2024 to $1.57 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.7%.
The remarkable growth witnessed in the past can be linked to factors such as medical diagnostics, clinical research, drug development and testing, the need for disease monitoring, and therapeutic applications.
What Is the Forecasted Market Size and Growth Rate for The Serum Market?
The serum market is expected to maintain its strong growth trajectory in upcoming years.
• The serum market is anticipated to witness rapid expansion in the coming years, increasing to $2.37 billion in 2029 with a compound annual growth rate (CAGR) of 10.8%.
This surge during the projection period can be credited to advancements in precision medicine, a rise in bespoke healthcare, broadened uses in oncology, worldwide health drives, and an aging global population. Key trends during this period are expected to include the incorporation of customizable serum solutions, fermented ingredients being utilized for skin health, the introduction of CBD-infused serums, the use of specialized ingredients like retinol alternatives, and a focus on inclusive beauty and diverse formulations.
What Are The Essential Drivers Behind The Growth Of The Serum Market?
An increased understanding of age-related skin problems is predicted to spur the serum market's expansion in the future. Age-related skin problems encompass skin conditions prevalent among the elderly, such as wrinkles and facial movement lines. Serums address age-related skin issues like dullness, hyperpigmentation, dehydration, wrinkles, and firmness loss while also evening skin tone, lightening it, diminishing visible imperfections, and leaving the skin nourished. As an illustration, Melanoma UK, a UK-based patient advocacy and support group, estimated in July 2022 that by 2025, the number of melanoma skin cancer cases will rise by 9%, culminating in a total of 19,513 cases. Furthermore, the death toll from the disease is predicted to increase by 13%, resulting in 3,119 deaths. By 2040, approximately 22,886 people are expected to be diagnosed with melanoma skin cancer. Consequently, the growing consciousness about age-related skin issues is spearheading the expansion of the serum market.
What Are The Main Segments Of The Global Serum Market?
The serum market covered in this report is segmented –
1) By Type: Bovine Serum, Fetal bovine serum (FBS), Other Types
2) By Inactivation Technique: Heat Inactivated, Non-Heat Inactivated
3) By Application: Biological Products, Research, Cell Culture, Biopharmaceutical Drugs, Vaccine Products, Diagnostic Products, Other Applications
Subsegments:
1) By Bovine Serum: Raw Bovine Serum, Processed Bovine Serum, Fetal Bovine Serum (FBS)
2) By Fetal Bovine Serum (FBS): FBS (Heat-Inactivated), FBS (Non-Heat-Inactivated)
3) By Other Types: Equine Serum, Porcine Serum, Human Serum
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What Emerging Trends Are Influencing The Growth Of The Serum Market?
The primary trend gaining traction in the serum market is product innovation. Leading firms in the serum market are honing their efforts on introducing novel serum formulations to extend their reach into more skincare and beauty domains, and to assert a competitive advantage in the market. For example, Galderma, a pharmaceutical firm headquartered in Switzerland and renowned for its dermatological treatments and skincare product offerings, introduced HA Immerse Serum in March 2022. This new product is part of its ALASTIN Skincare range. HA Immerse Serum is designed to surface-hydrate the skin while augmenting the skin's natural ability to create hyaluronic acid at deeper levels, leading to more volume, a youthful appearance, and long-lasting hydration effects over time. Aiding the skin's ability to organically amplify its high molecular hyaluronic acid creation deeply within the skin, ALASTIN's uniquely patented Octapeptide-45 provides a longer-lasting skin plumping, anti-aging, and hydration impact.
Who Are the Key Players in the Serum Market?
Major companies operating in the serum market include:
• Merck Group
• Thermo Fisher Scientific Inc.
• Danaher Corp
• Corning Incorporated
• Sartorius AG
• Bio-Techne Corporation
• Takara Bio Inc.
• Atlas Biologicals Inc.
• Proliant Health & Biologicals
• Seracare Life Sciences Inc.
• Lampire Biological Labs Inc.
• Altogen Labs
• Innovative Research Inc.
• Lee Biosolutions Inc.
• Bovogen Biologicals Pty. Ltd.
• Caisson Labs Inc.
• Gemini BioProducts Holding Inc.
• Valley Biomedical Products & Services Inc.
• Equitech-Bio Inc.
• Rocky Mountain Biologicals
• PAN-Biotech GmbH
• BIOWEST SAS
• Moregate Biotech
• Tissue Culture Biologicals
• Kerafast Inc.
• Access Biologicals LLC
• Animal Technologies Inc.
• Cell Applications Inc.
• Cell Sciences Inc.
What Is The Most Dominant Region In The Serum Market?
North America was the largest region in the serum market in 2024. The regions covered in the serum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
