The Global Albumin Market size is expected to grow from USD 5.57 billion in 2022 to USD 9.48 billion by 2030, at a CAGR of 7.9% during the forecast period (2023-2030).
Market Overview:
The Global Albumin Market size is expected to grow from USD 5.57 billion in 2022 to USD 9.48 billion by 2030, at a CAGR of 7.9% during the forecast period (2023-2030).
The Albumin Market is a vital segment within the pharmaceutical and biotechnology industries, focused on the production and distribution of albumin, a protein crucial for various medical and biotechnological applications. Albumin, derived from human plasma or recombinant sources, serves as a versatile component in medical treatments, drug formulations, and biotechnological processes. Key applications include use as a plasma volume expander, stabilizer for vaccines and drugs, and as a component in cell culture media. The market is characterized by a continuous demand for high-quality albumin products across a spectrum of medical and research disciplines.
Players Covered in Albumin market are :
Albumedix Ltd. (UK),Albumin Bioscience (US),Biotest AG (Germany),CSL Behring (US),Grifols International SA (Spain),HiMedia Laboratories Pvt. Ltd. (India),InVitria (US),Medxbio Pte. Ltd. (Singapore),MilliporeSigma (US),Octapharma AG (Switzerland),RayBiotech Inc. (Georgia),Seracare Life Sciences Inc. (the US),Akron Biotech (US),Bristol-Myers Squibb Company (US)
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Market Driver:
A significant market driver is the growing prevalence of chronic diseases and the increasing demand for albumin in therapeutic applications. Albumin is widely used in medical treatments, such as in cases of severe burns, liver diseases, and during surgery. The expanding elderly population and the rise in chronic conditions globally contribute to the sustained demand for albumin-based therapies. Additionally, advancements in medical research and biotechnology, where albumin serves as a critical component in drug formulation and delivery, further drive the demand for albumin products. The versatility and compatibility of albumin make it an essential component in addressing a range of medical needs.
Market Opportunity:
An emerging market opportunity lies in the development and commercialization of recombinant albumin. With an increasing emphasis on safety, quality, and ethical considerations, there is a growing interest in albumin derived from non-plasma sources. Recombinant albumin, produced using biotechnological processes, offers a sustainable and scalable alternative to plasma-derived albumin. Manufacturers investing in the research and production of recombinant albumin can capitalize on the opportunity to meet the demand for high-quality albumin products while addressing concerns related to the availability and ethical sourcing of plasma-derived albumin.
Market Segmentation
By Product
By Application
By End-Users
Regional Analysis:
The North American region is forecasted to dominate the albumin market attributed to the rise in the number of people suffering from liver disorders. According to National Survey on Drug Use and Health (NSDUH) in 2019, among 86,688 liver disease-related deaths, 43.1% were due to alcohol use disorder. It also puts a burden on the economy, as US$ 249 billion were spent on alcohol-related health problems in the USA. More people are getting used to alcohol drinking in this region which has fueled the demand for external dosage of albumin.
By Region
Report includes Competitor's Landscape:
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Jan 16, 2024
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