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March 23, 2021, New York, USA – Credible Market has released a new market report titled, “Blood serum Market (by product, application, and region), Global Opportunity Analysis and Industry Forecast, 2021-2028”. The blood serum market is a competitive, and fragmented landscape with vast opportunities for new players, thanks to growing technological advancements in tissue culture, and diagnostic testing. Some key players in the blood serum market are, Sigma-Aldrich, Thermo Fisher, Corning, Merck, Gemini, Bioind, and Bovogen.
The global blood plasma market reached a robust valuation of $23,789 million in 2016. The blood plasma is a core component of various therapy, diagnostic, and medicinal research measure. The growing development of reagents for infectious diseases, and its key application in the area in times of the Covid-19 pandemic remains a major driver of growth for the blood plasma market. The growth in research areas like cell culture, thanks to growing advancements in pattern detections through machine learning, and visualization of 3D model also presents a promising horizon for growth for players in the blood serum market.
Demand for Inactivated Vaccines for Covid-19 Remains a Major Prospect
Blood serum is an important ingredient for making inactivated vaccines around the world. Inactivated vaccines usually include deactivated pathogens, which help individuals created antibodies to fight off a virus. These vaccines are widely used for a variety of diseases including Hepatitis A, Polio, Flu, Rabies, and now even Covid-19. An Indian company, Bharat-Infotech has launched an inactivated covid-19 vaccine to immunise the large Indian population. More than 10 million doses of the Covishield vaccines have already been shipped. The vaccine relies on largely imported blood serum obtained from a new-born calf. Moreover, the prevalence of diseases like polio, regular vaccination drives for hepatitis A, and flu continue to drive robust growth for inactivated vaccines in the blood serum market globally.
Low-cost Availability of Blood and Growing Demand for Therapy to Drive Growth
Transfusion of blood products like blood cells, and plasma help improve lives for millions of patients around the world. Moreover, these products are a promising investments due to their low-cost. For example, in 2011, each unit of blood sold the hospitals accounted for $570. While the red cells were valued at $229, plasma was valued at $40, and platelets were valued at $300. On the other hand, the hospitals delivered these services to patients at even higher costs to patients with blood serum being sold at somewhere between $522-1,183 per unit in United States. Furthermore, according to the World Health Organization, about 118.4 million blood donations are collected worldwide annually.
Furthermore, blood plasma today is used in the treatment of a wide range of therapies including immunodeficiency disorder, chronic diseases, hemophilia, and genetic lung diseases. The treatment for plasma is also increasingly used for treatment of burns, trauma, and shock.
Growing Demand for Serology Remains a Promising Driver for Growth
Serology is the study of blood serum. It is widely used to conduct diagnostic tests, as well as blood typing. Serology is growing in its applications to measure concentrations of various molecules in blood serum, which is essential during clinical trials. This measurement can help pharmaceutical companies determine the therapeutic index of a drug candidate in a clinical trial. According to the US department for clinical trials, the number of pharmaceutical clinical trials are witnessing a tremendous growth worldwide. The department reported that in March 2020, there were over 371,776 clinical trial reported by US companies. The expiry of key patents, growing demand for pharmaceutical products, and growing support from regulatory entities like the US FDA for developing drugs for rare, and chronic diseases will promise major growth for players in the blood serum market.
Growing Demand for Cell Culture Remains a Major Positive for Growth
Cell culture is increasingly used in clinical trials to study, and isolate cells. The model has quickly become the go-to option for biologists to study interaction between diseases, and cell and find promising solutions to provide immunity from viruses, effect of drugs, and also study key developments like aging among human beings. The cell culture is leading the way for treatment of chronic diseases like cancer, which results in study of isolated animal cell culture. The technique provides an effective way to study cancer cells in laboratory, and also promises to determine effective drugs for selectively destroying specific cancer cells. This is a cause of major concern in study of cancer as most medicine today fail to differentiate between normal cells, and cancer cells, and end up sacrificing efficacy as a result. The blood serum is also proving to a promising source for studying virology, toxicity testing, manufacturing of active vaccines, genetically engineered protein, replacement of organs, and tissues, genetic engineering, counselling, and gene therapy. Applications like gene therapy promise to register robust growth, as thanks to growing advancement in machine lerning, growing databases of medical information, and reducing costs of such databases due to technologies like cloud promise to remain key drivers of growth for players in the blood serum market in the near future.
The Blood Serum Market is Segmented as Follows:
Product Type Outlook
Therapeutic Indication Outlook
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