Market Size of Bovine Blood Plasma Derivatives Industry
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Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.95 Billion |
Market Size (2029) | USD 2.57 Billion |
CAGR (2024 - 2029) | 5.72 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
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Bovine Blood Plasma Derivatives Market Analysis
The Bovine Blood Plasma Derivatives Market size is estimated at USD 1.95 billion in 2024, and is expected to reach USD 2.57 billion by 2029, growing at a CAGR of 5.72% during the forecast period (2024-2029).
Bovine blood plasma derivatives refer to substances obtained from the blood plasma of cattle. Blood plasma is the liquid part of blood that remains once the blood cells have been separated. It consists of different proteins, such as immunoglobulins (antibodies), albumin, coagulation factors, and other bioactive elements. Bovine blood plasma derivatives undergo processing through chromatographic techniques to extract specific proteins or components for various applications in industries such as pharmaceuticals, biotechnology, and animal nutrition.
The growing use of bovine plasma derivatives in research and development to achieve better outcomes and the increasing use of spray-dried bovine plasma in the animal feed industry are some factors that are expected to drive market growth. For instance, in February 2023, a study published by Scientific Reports stated that a uniform standard quality of fetal bovine serum used in cell cultures improves the repeatability of experimental results in scientific studies.
Proteins derived from bovine blood are utilized in creating plasma powder, which is a highly digestible animal protein source. This powder is commonly used to enhance feed palatability, promote animal gut health, and promote animal meat quality. According to the United Nations Food and Agriculture Organization (FAO) in June 2023, by 2050, production of animal proteins is expected to grow by around 1.7% per year, with meat production projected to rise by nearly 70%. An increasing demand for animal proteins and meat production increases the demand for bovine blood plasma derivatives, thereby driving market growth.
Furthermore, as the demand for plasma-derived therapies continues to rise, companies face heightened competition as they aim to innovate, enhance efficiency, and guarantee the provision of top-notch plasma products to cater to the increasing requirements of patients worldwide. For instance, in August 2023, Dyadic International Inc. announced positive results in the company’s animal-free recombinant serum albumin trail. Through the company’s proprietary fungal-based microbial protein production platforms, the company successfully developed stable cell lines to produce animal-free recombinant bovine serum albumin to supply in pharmaceutical applications to treat different diseases.
Thus, such innovation in developing bovine serum albumin to meet the requirement of bovine blood plasm derivatives in different clinical applications is projected to drive market growth over the next five years.
On the contrary, the chances of zoonotic diseases transmitted from bovine blood plasma derivatives and the availability of alternative plasma derivatives from other sources are expected to hinder market growth during the forecast period.
Bovine Blood Plasma Derivatives Industry Segmentation
As per the scope of the report, the bovine blood plasma derivatives market plays a significant role in various commercial aspects, particularly in industries such as pharmaceuticals, biotechnology, and animal nutrition. The bovine blood plasma derivatives market is segmented by derivative (immunoglobulin, fibrinogen, bovine serum albumin, fetal bovine serum, newborn calf serum, thrombin, and other derivatives), end-user industry (pharmaceutical and biotechnology companies, academic and research institutes, food industry, and other end-user industries), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (USD) for the above segments.
By Derivative | |
Immunoglobulin | |
Fibrinogen | |
Bovin Serum Albumin | |
Fetal Bovin Serum | |
Newborn Calf Serum | |
Thrombin | |
Other Derivatives |
By End-user Industries | |
Pharmaceutical and Biotechnology Companies | |
Academic and Research Institutes | |
Food Industry | |
Other End-user Industries |
By Geography | ||||||||
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Bovine Blood Plasma Derivatives Market Size Summary
The bovine blood plasma derivatives market is poised for significant growth, driven by the increasing application of these derivatives in various industries such as pharmaceuticals, biotechnology, and animal nutrition. Bovine blood plasma derivatives, which include proteins like immunoglobulins, albumin, and coagulation factors, are processed for their bioactive components and are essential in research and development, particularly in enhancing animal feed quality and gut health. The rising demand for animal proteins and meat production further fuels this market, as these derivatives are used to improve feed palatability and animal meat quality. Innovations in plasma-derived therapies, such as the development of animal-free recombinant bovine serum albumin, are also contributing to market expansion, despite challenges like the risk of zoonotic diseases and competition from alternative sources.
North America is expected to lead the market due to its advanced healthcare infrastructure, high volume of surgical procedures, and robust animal nutrition industry. The demand for bovine blood plasma derivatives, particularly thrombin, is increasing with the rise in surgeries and the need for effective hemostatic agents. The region's pet food industry, driven by the trend of humanizing pets and the demand for premium pet food, also supports market growth. The market is characterized by a fragmented landscape with numerous global and regional players, including notable companies like Merck KGaA, SeraCare, and Thermo Fisher Scientific, which are actively enhancing their supply chain and distribution capabilities to meet the growing demand.
Bovine Blood Plasma Derivatives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Reserach and Develpment Activity in Pharmaceutical and Biotechnology Industries
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1.2.2 Increasing Use of Bovine Plasma Derivatives in the Production of Plasma Powder in Animal Feed Insustry.
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1.2.3 Technological Advancements in Processing Techniques of Bovin Plasma Derivatives
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1.3 Market Restraints
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1.3.1 High Chances of Zoonotic Diseases Transmit From Bovine Blood Plasma Derivatives
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1.3.2 Alternative Available for Bovine Plasma Derivatives
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Derivative
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2.1.1 Immunoglobulin
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2.1.2 Fibrinogen
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2.1.3 Bovin Serum Albumin
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2.1.4 Fetal Bovin Serum
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2.1.5 Newborn Calf Serum
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2.1.6 Thrombin
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2.1.7 Other Derivatives
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2.2 By End-user Industries
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2.2.1 Pharmaceutical and Biotechnology Companies
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2.2.2 Academic and Research Institutes
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2.2.3 Food Industry
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2.2.4 Other End-user Industries
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Bovine Blood Plasma Derivatives Market Size FAQs
How big is the Bovine Blood Plasma Derivatives Market?
The Bovine Blood Plasma Derivatives Market size is expected to reach USD 1.95 billion in 2024 and grow at a CAGR of 5.72% to reach USD 2.57 billion by 2029.
What is the current Bovine Blood Plasma Derivatives Market size?
In 2024, the Bovine Blood Plasma Derivatives Market size is expected to reach USD 1.95 billion.