Albany, NY -- (SBWIRE) -- 03/27/2018 -- Global Bovine Blood Plasma Derivatives Market: Snapshot
Bovine blood plasma derivatives are exclusive in a way when it comes to delivering palatability, something that cannot be achieved via other alternatives such as plant extracted proteins and other synthetic nutrient elements. Bovine immunoglobulin G (IgG) is one the most common commercially available bovine derived protein fractions, while some of the others are thrombin and fibrinogen. Although, currently the bovine blood plasma derivatives market is gaining traction from its expanding usage across various industries including pharmaceutical, medical diagnostics, and cosmetics, the food industry and cell culture media continues to provide for the maximum demand. According to this fresh business intelligence study, the demand in the global bovine blood plasma derivatives market will increment at a notable CAGR of 5.8% during the forecast period of 2017 to 2025. The analysts of the report have evaluated that the opportunities in the bovine blood plasma derivatives market, globally, constituted for a revenue of US$1,338.9 mn in 2016 and US$1404.2 mn in 2017, and the valuation is estimated to swell up to US$2,196.8 mn by the end of 2025.
Growing usage of blood plasma products in the food industry, which is experiencing an extended demand for food products with nutritious values, is the primary driver of the bovine blood plasma derivatives market. Additionally, advancements in the technology of blood collection and processing as well as recent improvements to the supply chain and distribution network by the vendors are some of the other key factors driving the demand in the global bovine blood plasma derivatives market.
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Demand for Thrombin Derivative Segment to Remain Prominent Until 2025
The market for bovine blood plasma derivatives has been broadly segmented into immunoglobulin, fibrinogen, serum albumin, fetal bovine serum, thrombin, transferrin, new born calf serum, and others including BGG. In 2017, the thrombin segment provided for the maximum demand, which was a result of its increasing usage during surgeries and diagnostic purposes. R&D applications of thrombin includes research activities such as in vitro study, coagulation research, protein structure analysis, medical research, and biochemical research. Bovine serum albumin is expected to maintain its position as the second leading segment of the bovine blood plasma derivatives market until 2025. Bovine serum albumin has applications in the food industry, drug formulation, and as a component of media for cell culture. Bovine derived albumins are used in production of several vaccine as well as in cell culture related work, including cryopreservation and effective washing of cells. Bovine serum albumin (BSA) is used as standard for protein concentrations (Bradford protein assay) in cell culture protocols as well as small molecule carrier.
Application-wise, the bovine blood plasma derivatives market has been bifurcated into pharmaceutical industry, diagnostic industry, cell culture or biotechnology, research and development, food industry, cosmetic industry, others including nutrition supplements. In 2015, the cell culture or biotechnology and the food industry collectively provided for a demand share of 42.2%, and both are anticipated to remain as the most profitable application segment until 2025.
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North America to Remain the Most Lucrative Region
Geographically, North America and Asia Pacific are the two more lucrative regions. While the analysts of the report have projected the North America bovine blood plasma derivatives market to prosper at a CAGR of 6.7% during the forecast period of 2017 to 2025, the Asia Pacific bovine blood plasma derivatives market is estimated to be worth US$493.9 mn by 2025. These two regions are anticipated to constitute for more than 60% of the total opportunities and revenue in this market.
Some of the key players who operate at the global level in the bovine blood plasma derivatives market are Sigma-Aldrich Co. (Merck KGaA), LAMPIRE Biological Laboratories, Inc., Proliant Inc., Rocky Mountain Biologicals Inc., Bovogen Biologicals Pty Ltd., Thermo Fisher Scientific, Inc., Kraeber & Co GmbH, Auckland BioSciences Ltd., and Lake Immunogenics, Inc.
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