New York, May 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Serum Global Market Report 2023" - https://www.reportlinker.com/p06457549/?utm_source=GNW
, BIOWEST SAS, Caisson Labs Inc., and Gemini Bio Products.
The global serum market is expected to grow from $1.17 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The serum market is expected to grow to $1.88 billion in 2027 at a CAGR of 9.9%.
The serum market consists of sales of specialty fetal bovine serum, newborn calf serum, and donor bovine serum.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Serum refers to the clear and liquid portion of blood that remains after blood cells and clotting proteins have been eliminated. It is used as a supplement to the basal growth medium in cell culture applications.
North America was the largest region in the serum market in 2022. The regions covered in the serum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of serum are bovine serum, fetal bovine serum (FBS), and others.Bovine serum refers to a fluid that remains from the entire blood after clotting, which is transparent and yellow.
The inactivation techniques include heat inactivated and non-heat inactivated, and various applications include biological products, research, cell culture, biopharmaceutical drugs, vaccine products, diagnostic products and others.
The rise in awareness about age-related skin issues is expected to propel the growth of the serum market going forward.Age-related skin issues refer to skin conditions common among aging people, such as wrinkles, facial movement lines and others.
Serum treats age-related skin conditions like dullness, hyperpigmentation, dehydration, wrinkles, and loss of firmness as well as evens out skin tone, lightens it, reduces visible flaws, and leaves skin nourished.For instance, according to the Cosmetic Executive Women (CEW), a US-based non-profit organization promoting the cosmetics, fragrance, and personal care industry, on average, in the 12 months ended June 2021, there were 943,500 monthly searches for aging-related skin care issues in the USA.
Therefore, a rise in awareness about age-related skin issues is driving the growth of the serum market.
Product innovation is the key trend gaining popularity in the serum market.Major companies operating in the serum market are focusing on developing innovative serum formulations for more skincare and beauty applications as well as to gain a competitive edge in the market.
For instance, in March 2022, Galderma, a Switzerland-based pharmaceutical company specializing in dermatological treatments and skin care products, launched HA Immerse Serum, a new product addition to its ALASTIN Skincare lineup.HA Immerse Serum is intended to hydrate the skin at the surface while assisting in enhancing the skin’s innate capacity to produce hyaluronic acid deep within, resulting in fuller, more youthful-looking skin over time.
In order to provide long-term skin plumping, anti-aging, and hydration effects, ALASTIN’s patented Octapeptide-45 aids the skin’s capacity to naturally boost its own high molecular hyaluronic acid production deep inside the skin.
In April 2022, Anzco Foods, a New Zealand-based meat producer acquired Moregate Biotech for an undisclosed amount.The acquisition expands Anzco Foods’ portfolio of offerings to include healthcare products and services.
Moregate Biotech is an Australia-based manufacturer of animal serum and related products.
The countries covered in the serum market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The serum market research report is one of a series of new reports that provides serum market statistics, including serum industry global market size, regional shares, competitors with a serum market share, detailed serum market segments, market trends and opportunities, and any further data you may need to thrive in the serum industry. This serum market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06457549/?utm_source=GNW
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