The bovine serum albumin market is estimated to be valued at USD 255 million in 2019 and is projected to reach USD 304 million by 2025, recording a CAGR of 3.0%. Due to the growing livestock population and the subsequent increase in demand for blood-derived products, the market for bovine serum albumin is growing.
By form, the bovine serum albumin market is segmented into dry and liquid forms. The demand for the dry form of BSA is high due to benefits offered, such as long shelf-life, stability, ease of handling, and transportation. In most instances, the end-users prefer using the dry form since it is easier to dilute as well.
Based on end user, the bovine serum albumin market is segmented into life sciences industry, food industry, feed industry, and research institutes. The demand for BSA stems majorly from the life sciences industry since it is an excellent carrier of drugs. It is also used in different cell culture applications. The demand for vaccines comes from North America due to various health issues, which the people in the region face. This growing demand for vaccination would widen the application of BSA in drug delivery.
The technical-& diagnostic-grade of BSA is the most extensively used grade due to its characteristic features such as solubility properties and ease of filtration. Its cost-effective nature has also made it a preferred option as a protein standard in the diagnostic industry. Some of the commonly used grades of BSA are the standard grade, protease-free, low endotoxin grade, protease- and DNase-free grade, biotinylated BSA grade, and microbiological grade. The low endotoxin grade of BSA is specifically manufactured to meet the requirements of bacterial and mammalian cell culture applications.
Major players such as Thermo Fisher Scientific (US), Bio-Rad Laboratories, Inc (US), Merck KGAA (Germany), Itoham Yonekyu Holdings Inc (Japan), Proliant fBiologicals (US), Kraeber & Co Gmbh (Germany), Rockland Immunochemicals Inc (US), Rocky mountain biologicals (US), BelHealth investment partners, LLC (US), Bio-Techne Corporation (US), Prospec-Tany Technogene Ltd (Israel), and LGC Group (UK), (Singapore) in the bovine serum albumin market are focusing on new product launches, expansions & investments, and mergers & acquisitions, to expand their footprint.