Serum Global Market Report 2024

The serum market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The expansion during the historical period can be attributed to medical diagnostics, clinical research, drug development and testing, disease monitoring, and therapeutic applications.

The serum market size is expected to see rapid growth in the next few years. It will grow to $2.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period can be attributed to advances in precision medicine, the rise in personalized healthcare, expanded applications in oncology, global health initiatives, and the increasing geriatric population. Key trends expected in the forecast period involve the adoption of customizable serum solutions, the use of fermented ingredients for skin health, the introduction of CBD-infused serums, the application of niche ingredients such as retinol alternatives, and an emphasis on inclusive beauty and diverse formulations.

The serum market is poised for growth due to the increasing awareness of age-related skin issues. Age-related skin problems, such as wrinkles and facial lines, are common among aging individuals. Serums address these issues by treating conditions such as dullness, hyperpigmentation, dehydration, wrinkles, and loss of firmness, providing an even skin tone and nourishment. According to the Cosmetic Executive Women (CEW), there were an average of 943,500 monthly searches for aging-related skincare issues in the USA in the 12 months ending June 2021. This highlights the growing awareness of age-related skin concerns, contributing to the expansion of the serum market.

The serum market is expected to witness growth due to the increasing prevalence of chronic diseases. Chronic diseases are prolonged illnesses lasting three months or more, with the potential to deteriorate over time. Serums serve as targeted solutions to manage and improve skin health for individuals dealing with dermatological effects of chronic conditions. According to the World Health Organization (WHO) 2022 Highlights in September 2022, 74% of all deaths globally were attributed to noncommunicable diseases (NCDs) or chronic diseases, resulting in 41 million deaths annually. This highlights the significant impact of chronic diseases on global health and, consequently, the growth of the serum market.

Product innovation stands out as a prominent trend in the serum market, with major companies focusing on developing innovative formulations for skincare and beauty applications. Galderma, a Switzerland-based pharmaceutical company, exemplifies this trend with the launch of HA Immerse Serum in March 2022. This product, part of ALASTIN Skincare's lineup, aims to hydrate the skin surface and enhance the skin's innate ability to produce hyaluronic acid. The serum incorporates ALASTIN's patented Octapeptide-45, contributing to long-term skin plumping, anti-aging effects, and hydration.

The key players in the serum market are concentrating on introducing cutting-edge solutions such as ultrasensitive biomarker detection to stay competitive. Ultrasensitive biomarker detection involves the ability to detect and measure biomarkers at extremely low concentrations, enabling earlier disease detection. Quanterix, a US-based company specializing in digitizing biomarker analysis, exemplifies this trend. In July 2023, Quanterix launched the LucentAD Biomarker Blood Test, designed to measure an isoform of phosphorylated tau protein in plasma, aiding in Alzheimer's disease diagnosis. This test enhances accuracy, efficiency, and collaboration with other diagnostic tools, ultimately benefiting patients and healthcare providers.

In April 2022, Anzco Foods, a New Zealand-based meat producer, acquired Moregate Biotech for an undisclosed amount. This acquisition enables Anzco Foods to expand its portfolio to include healthcare products and services. Moregate Biotech, an Australia-based manufacturer of animal serum and related products, becomes part of Anzco Foods' diversified offerings.

Major companies operating in the serum market report are Merck Group, Thermo Fisher Scientific Inc., Danaher Corp., Corning Incorporated, VWR International LLC, Sartorius AG, Bio-Techne Corporation, Takara Bio Inc., Atlas Biologicals Inc., Proliant Health & Biologicals, Seracare Life Sciences Inc., Lampire Biological Labs Inc., Altogen Labs, Innovative Research Inc., Lee Biosolutions Inc., Bovogen Biologicals Pty. Ltd., Caisson Labs Inc., Gemini BioProducts Holding Inc., Valley Biomedical Products & Services Inc., Equitech-Bio Inc., Rocky Mountain Biologicals, PAN-Biotech GmbH, BIOWEST SAS, Moregate Biotech, Tissue Culture Biologicals, Kerafast Inc., Access Biologicals LLC, Animal Technologies Inc., Cell Applications Inc., Cell Sciences Inc.

North America was the largest region in the serum market in 2023. The regions covered in the serum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the serum market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of serum include bovine serum, fetal bovine serum (FBS), and others. Bovine serum refers to a fluid that remains after clotting in the entire blood, transparent and yellow in color. Inactivation techniques comprise heat inactivated and non-heat inactivated methods, with various applications such as biological products, research, cell culture, biopharmaceutical drugs, vaccine products, diagnostic products, and others.

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.

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.

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.


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