Development in the healthcare sector has also been of the key focus in North American region. A similar growth and development is seen in the bovine blood plasma derivatives market that made North America a leading region. Presence of key players that are making constant efforts through research and development activities in this region is the major reason for the growth of this region in the global bovine blood plasma derivatives market. Apart from investment made in R&D, leading players are also establishing relationship by initiating mergers and acquisition with other companies mainly to extend their geographical presence.
On the other hand, Asia Pacific is also expected to offer lucrative growth opportunities for the stakeholder in the global bovine blood plasma derivatives market. Rising initiative taken by governments in different regions is giving approvals to export products such as serum and cattle protein is considered as key factor behind Asia Pacific bovine blood plasma derivatives market growth. Demand for bovine blood plasma derivatives is high in India, China, and from countries in Southeast Asia that made this region a key market.
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Besides, geographical growth of the global bovine blood plasma derivatives market, the revenue generation in this market is also expected to rise significantly in the coming years. Based on the Transparency Market Research on the global bovine blood plasma derivatives market, revenue generation is expected to reach US$2.19 billion by the end of 2025. This figure is substantially high that the revenue earned in 2016 that is US$1.33 billion, thus creating an incremental opportunity of nearly US$ 0.86 billion over the forecast period between 2017 and 2025.
Development of New Drugs through R&D – A Key Strategy Used by Players
Players operating in the global bovine blood plasma derivatives market are focusing on various business development strategies to increase their shareholding in the market. In terms of market structure, this market is fragmented in nature due to the presence of large number of players. Prominent players analyzed in this report include Rocky Mountain Biologicals Inc., Thermo Fisher Scientific, Inc., Proliant Inc., Auckland BioSciences Ltd., Sigma-Aldrich Co. (Merck KGaA), Bovogen Biologicals Pty Ltd., and Lake Immunogenics, Inc.
Besides, the leading players, presence of large number of small players are also seen in the global market. For example, LAMPIRE Biological Laboratories acquired about 180+ acre corporate dairy farms in Bedford County, Pennsylvania. After this initiative, LAMPIRE Biological Laboratories planned to offer valuable biological raw materials to research and diagnostic companies across the globe.
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Increasing Application of Thrombin Due To High R&D Likely to Benefit Market’s Growth
In terms of derivatives types, the demand for thrombin is comparatively higher than fibrinogen, immunoglobulin, new born calf serum, fetal bovine serum, serum albumin, transferrin, and others including BGG. According to the report, the thrombin segment held larger share in 2017, as compared to other derivatives types. This rise was mainly because of its increasing usage during surgeries and diagnostic purposes.
Increasing research and development activities including as medical research, in vitro study, protein structure analysis, biochemical, coagulation research has augmented application of thrombin. Moreover, there are high chances of growth of bovine serum albumin in the coming years and stand at the second position by the end of forecast period. Applications of bovine serum albumin are seen in the drug formulation, food industry, and as a component of media for cell culture. Its use is also seen in the manufacturing several vaccines and in cell culture related work, comprising effective washing of cells and cryopreservation.
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