Bovine Blood Plasma Derivatives Market Size (2024 - 2029)

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.