Bovine Serum Albumin Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2030
Bovine Serum Albumin Market: Overview
The bovine serum albumin market has been estimated to experience significant growth opportunities in the forthcoming years. This increasing market growth is on the back of a novel product launch in the field of bovine serum albumin. Further, the rising use of this serum as a dietary whey protein is also boosting growth opportunities in the market.
Bovine serum albumin is extracted from the blood plasma of cows. It is basically a serum albumin protein and is available in different forms including liquid or powder. This serum is commonly used in immunology, biochemistry, and immunology related researches. The immunoassay applications of bovine serum albumin include immunocytochemistry and enzyme-linked immunosorbent assay. Further, chemicals and enzymes, food and beverages, marine biotechnology and aquaculture, animal breeding, and biotechnology are some of the industries that use bovine serum albumin. Owing to this extensive range of applications, the bovine serum albumin market has been estimated to experience significant growth opportunities in the forthcoming years.
Bovine Serum Albumin Market: Key Trends
Obesity is the most prevailing global problem that requires immediate attention with cost-effectiveness. The bovine serum albumin is the protein that can be used as a by-product of cheese because of the cost its economical nature.
Various research organizations are using bovine serum albumin as the protein standard. It has been used in order to determine unknown quantities of some other proteins while keeping in mind the quantities of bovine serum albumin. In addition to this, the bovine serum albumin does not put any noteworthy effects on various biochemical reactions. This factor stimulates numerous scientists from the industry to opt for this serum. High solubility in water and highly pure nature are some of the other prominent characteristics that are estimated to boost opportunities in the bovine serum albumin market.
The sudden outbreak of the COVID-19 cases has put adverse impacts on the growth prospects of the development, production, and supply of the reagents and consumables. Further, different companies operating in the bovine serum albumin market have also experienced negative impacts of the pandemic in the past year. The coronavirus has resulted in the closure of the industrial establishments due to the imposition of lockdown to maintain social distancing. Except for essential commodities, other industrial establishments were disrupted due to the pandemic.
Bovine Serum Albumin Market: Competitive Dynamics and Key Developments
The key players operating in the bovine serum albumin market have been adopting different strategies to fuel growth opportunities in the forthcoming years. Collaborations, mergers, partnerships, acquisitions, product approvals, and novel product launches are some of the major strategies that are incorporated by the key companies to create expansion avenues in the market.
For instance, LGC has acquired The Native Antigen Company (NAC) in July 2020. NAC is a supplier of infectious disease antigens and antibodies of high quality. This acquisition has expanded the existing product portfolio of LGC in the field of in-vitro diagnostics.
Some prominent players in the global bovine serum albumin market include:
Bovine Serum Albumin Market: Regional Assessment
The bovine serum albumin market is spread across different geographical locations around the world including North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these, the North America region has been expected to account for the prominent share in the market. This market growth is attributed to the growing rate of cattle slaughtering, increasing demand for red meat and its products, and the rising livestock sector.
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