Bovine Blood Plasma Derivatives Market Size | 2032

Report Description

Bovine Blood Plasma Derivatives Market Outlook 2032

The global bovine blood plasma derivatives market size was USD 2.01 Billion in 2023 and is projected to reach USD 3.37 Billion by 2032, expanding at a CAGR of 5.9% during 2024–2032. The market growth is attributed to the increasing demand for natural and sustainable ingredients across the globe.

Growing awareness and adoption across various sectors of natural plasma derivatives is expected to boost the bovine blood plasma derivatives market in the coming years.  These derivatives are integral components of cell culture media and bioprocessing formulations, supporting cell growth, protein production, and research endeavors. Moreover, the rising prevalence of chronic diseases and immune disorders in humans further fuels the demand for functional foods and dietary supplements fortified with bioactive ingredients, such as bovine blood plasma derivatives.

• According to a report published by the American Hospital Association, over 133 million people in the US are affected by at least one chronic illness. This figure is estimated to be risen by 15 million over the past decade and is expected to reach 170 million by 2030.
  

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Impact of Artificial Intelligence (AI) in the Bovine Blood Plasma Derivatives Market

The use of artificial intelligence is likely to boost the bovine blood plasma derivatives market in the coming years. AI-powered technologies enable market players to analyze vast amounts of data, including supply chain dynamics, consumer preferences, and market trends in real time. Moreover, AI-driven insights empower decision-makers to make informed strategic decisions, such as product development, pricing strategies, and market expansion initiatives.

Bovine Blood Plasma Derivatives Market Dynamics

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Major Drivers

Rising demand for animal and pet food products and increasing pet ownership rates globally are expected to drive the market during the forecast period. High preference for premium and functional pet food formulations containing ingredients, including bovine blood plasma derivatives offers superior health benefits for companion animals. For instances, as per the report published by Forbes, in 2024, 86.9 million or 66% households in the US have pets. Moreover, the rising prevalence of diseases in livestock animals and the subsequent need for effective disease management solutions are boosting the adoption of bovine blood plasma derivatives.

Existing Restraints

Easy availability of sustainable and plant-based protein alternatives is anticipated to hamper the market in the coming years. These alternative ingredients offer comparable nutritional profiles, functional properties, and sustainability credentials to reduce the use of animal-derived ingredients in their products. Moreover, the stringent regulatory requirements and safety concerns surrounding the use of animal-derived products in food and feed applications further hinder the market.

Emerging Opportunities

­Increasing investment in research and development of bovine blood plasma derivatives is expected to create immense opportunities for the players competing in the market during the forecast period. Manufacturers are focusing on exploring novel applications and functionalities of these derivatives in diverse fields, such as regenerative medicine, biopharmaceuticals, and cosmeceuticals. Moreover, the growing demand for sustainable and high-performance aquafeed solutions further boosts the adoption of bovine blood plasma derivatives in the coming years.

Scope of the Bovine Blood Plasma Derivatives Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.

Bovine Blood Plasma Derivatives Market Segment Insights

Type Segment Analysis

Based on type, the bovine blood plasma derivatives market is divided into fibrinogen, immunoglobulin, serum albumin, fetal bovine serum, thrombin, transferrin, new born calf serum, and others. The serum albumin segment held the major share of the market in 2023, due to its wide-ranging applications in various industries, such as pharmaceuticals, biotechnology, and animal nutrition.

Serum albumin found abundantly in bovine blood plasma is highly regarded for its versatility, functioning effectively as a stabilizer, emulsifier, and carrier protein. Moreover, the increasing prevalence of chronic diseases and the growing demand for plasma-derived therapies further fueled their demand for bovine serum albumin in the healthcare industry. These factors are boosting the segment.

The immunoglobulin segment is expected to expand at a significant growth rate in the coming years, owing to the rising demand for immunotherapy and growing awareness about the therapeutic potential of immunoglobulin-based products. Furthermore, the ongoing research and clinical trials exploring the efficacy and safety of bovine immunoglobulins further fuel their utilization across various sectors, boosting the segment.

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End-use Industry Segment Analysis

On the basis of end-use industry, the global market is segregated into pharmaceuticals, diagnostics, cell culture/biotechnology, food, research & development, cosmetics, and others. The pharmaceutical segment held a large market share in 2023, due to the increasing demand for plasma-derived therapies.

Bovine blood plasma derivatives, including immunoglobulins, serum albumin, and thrombin are important in the development and production of plasma-derived therapies. Moreover, the expansion of the biopharmaceutical industry globally propels the demand for bovine blood plasma derivatives in the pharmaceutical industry.

The cell culture/biotechnology segment is anticipated to expand at a substantial CAGR during the forecast period, owing to the growing demand for biopharmaceuticals and biotechnology products. Bovine blood plasma derivatives are essential components of cell culture media and bioprocessing formulations, supporting cell growth, viability, and protein production in various biotechnological applications. Furthermore, the growing emphasis on biologics and personalized medicine fuels the demand for bovine blood plasma derivatives in cell culture and biotechnology applications.

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Regional Outlook

In terms of region, the global bovine blood plasma derivatives market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America held a major market share in 2023, due to the high demand for quality animal nutrition and healthcare products. Furthermore, the rising pet population in this region facilitates the adoption of animal nutrition containing bovine blood plasma derivatives, which further boosts the market.

• According to Forbes, the number of US households with pets grew from 73 million in 2010 to 87 million in 2022.

The market in Asia Pacific is projected to grow at a significant pace in the coming years, owing to the expanding livestock industry in the region, particularly in countries such as China and India. Moreover, the rising meat consumption and aquaculture production are further propelling the demand for animal feed additives, including bovine blood plasma derivatives.

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