Albumin Market: Industry Analysis and forecast 2027: By Product Type, Application, End Users and Region
Albumin Market was valued US$ XX Bn in 2018 and is expected to reach US$ 477.84 Bn by 2027, at CAGR of XX% during forecast period of 2019 to 2027.
Albumin Market Drivers and Restrains:
Albumin is a water-soluble globular protein formed in the liver accounting for 50% of blood plasma proteins. Albumin plays an important role in regulating blood volume and act as transporters for molecules like few hormones, bile salts and ions. It is mostly used as blood volumizer in infrequent diseases, burns, shocks, liver conditions, and other blood loss trauma and surgeries. It supports in the stabilization of drugs by reducing aggregation, oxidation, and surface absorption. Various type of serum albumin are widely used for clinical applications. Human serum albumin and bovine serum albumin are found in human plasma and bovine plasma, respectively. On the other hand, recombinant albumin is manufactured by recombinant techniques in yeast and bacteria strains.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The albumin market has driven by such factors are increase in incidence of life-threatening disorders and conditions, rising production of immunoglobulin, increasing plasma collection, and high demand for albumin in R&D activities. The albumin market is expected to a significant growth rate in the near future due to improvements in protein purification and molecular separation technology. The irrational uses and adverse reactions associated with albumin, and the rising shift toward serum-free solutions are hampering the market growth at the global level. Furthermore, the development of cost-effective therapeutics along with large scale production of albumin and high potential in untapped markets in the emerging economies are provided lucrative growth opportunities for the albumin market.
Albumin Market Segmentation Analysis:
Based on the product, the albumin market has been segmented into human serum albumin, Bovine Serum Albumin and recombinant albumin. The human serum albumin segment accounted for the dominant market share in 2018, and is expected to continue this trend during the forecast period owing to large amounts of use in the treatment of burns, shock, and blood loss. It is also used in the pharmaceutical preparations, such as drug formulations and vaccines, and in cell culture media. Human serum albumin is the serum albumin originate in human blood. It is the most abundant protein in human blood plasma and constitutes about half of the serum proteins. It is produced in the liver and is soluble and monomeric. The rising formulations and increasing R&D, along with the growing of diseases, are driving the segment growth in the forecast period.
Based on the application, the albumin market has been segmented into drug formulation, drug delivery, vaccines, medical device coating, culture medium & stabilizer, diagnostics, In vitro fertilization. The drug delivery segment held for near XX% of the albumin market share in 2018 and this trend is projected to continue over the forecast period. The usage of human serum albumin nanoparticles as a favored drug delivery system with applications for a wide range of diseases are fueling the market growth globally. The ongoing collaborations and joint ventures among the leading manufacturers in the albumin market is likely to offer significant boost to the growth of the market.
Albumin Market Regional Analysis:
Geographically, the Albumin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to expand at a high CAGR of XX% during the forecast period due to rise in investments in life sciences by a large number of biopharmaceutical companies and research institutes. Rising demand for albumin is an emerging economies such as India and China. Hence, awareness programs conducted by organizations such as Plasma Protein Therapeutics Association (PPTA), which help to increase awareness about plasma donation and the different plasma protein therapies available along with their potential uses are expected to increase the uptake of these therapeutics in treating various conditions.
A report covers the recent development in market for the albumin market like, Serendex Pharmaceutical declared that the company has initiated the phase I trials of Molgradex. This drug candidate is used for treating rare pulmonary diseases. The drug uses Novozymes’ Recombumin, a recombinant human albumin for more effective delivery of the therapeutic to the lungs.
Albumin Market Competitive landscape
Major Key players operating in this market are Albumedix A/S, Albumin Therapeutics, LLC, Biotest AG, CSL Behring LLC, and Grifols International. Manufacturers in the albumin are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
The objective of the report is to present comprehensive analysis of albumin market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding albumin market dynamics, structure by analyzing the market segments, and project the albumin market size. Clear representation of competitive analysis of key players by product type, price, financial position, product portfolio, growth strategies, and regional presence in the albumin market make the report investor’s guide.
Scope of the Albumin Market:
Albumin Market, by Product Type:
• Human Serum Albumin
• Recombinant Albumin
• Bovine Serum Albumin
Albumin Market, by Application:
• Drug Formulation
• Drug Delivery
• Medical Device Coating
• Culture Medium & Stabilizer
• In Vitro Fertilization
Albumin Market, by End User:
• Pharmaceutical & Biotechnology Industry
• Research Institutes
Albumin Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Albumin Market, Major Players:
• Albumedix A/S
• Albumin Therapeutics, LLC
• Biotest AG
• CSL Behring LLC
• Grifols International, S.A.
• HiMedia Laboratories Pvt. Ltd.
• Medxbio Pte Ltd.
• Octapharma AG
• RayBiotech, Inc.
• SeraCare Life Sciences
• Sigma-Aldrich Co.
• Akron Biotech
• Baxter International Inc.
• Celgene Corporation,
• Grifols SA
• Merck KGaA
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