DUBLIN–(BUSINESS WIRE)–The “Albumin Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030” report has been added to ResearchAndMarkets.com’s offering.
The Albumin market was valued at $4,813.5 million in 2020, and is estimated to reach $8,956.07 million by 2030, growing at a CAGR of 6.4% from 2021 to 2030.
Serum albumin is the most abundant plasma protein, constituting around 50% of human plasma protein. Albumin is obtained from plasma fractionation process where human serum albumin and bovine serum albumin is most widely used. Recombinant albumin is produced using recombinant techniques in rice plants, yeast species, and other cell lines. Albumin is used as blood volumizer and is employed in the treatment of various diseases including surgical blood loss, shock, burns, trauma, chronic liver disease, hypovolemia, hemorrhage, acute liver failure, hypoalbuminemia, and acute respiratory distress syndrome.
Increase in prevalence of rare diseases, shocks, trauma, burns, and other fatalities is the major factor that contributes toward the growth of the albumin market. Moreover, other factors that fuel the market growth include increase in adoption of albumin products, growth in awareness about recombinant albumin products, and rise in non-therapeutic application of albumin as an excipient and drug formulating agent. In addition, many companies are increasing their market presence, thereby expanding their business across new markets.
Furthermore, owing to high demand for albumin in R & D activities, and rising production of immunoglobulins, increasing non-therapeutic applications of albumin has led to boost the growth of the market. According to National Clinical Trial Registry, there are about 294 ongoing clinical trials are related to albumin across different phases of development for different indications.
Conversely, development of cost-effective therapeutics through large scale production and high market potential in untapped emerging economies are expected to provide lucrative growth opportunities for the market are anticipated to hinder the market growth. People, nowadays are more aware of health, which, in turn, compels them to maintain their health condition and increase demand for albumin for drug development. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity in the albumin market.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global albumin market to identify the prevailing opportunities
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies
- Comprehensive analysis of factors that drive and restrict the market growth is provided
- Region- & country-wise analysis is provided to understand the market trends and dynamics
Market Dynamics
Drivers
- Increase in Prevalence of Rare Diseases and Various Life-Threatening Conditions
- Increase in Demand for Albumin
- Growing Preferences for Recombinant Albumin
- Rise in Non-Therapeutic Application of Albumin
Restraints
- Stringent Government Regulations
- Risks Associated With Albumin
Opportunities
- Opportunities in Emerging Economies
- Development of Cost Effective Therapeutics Through Large Scale Production
Key Market Segments
By Product Type
- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin
By Application
- Therapeutics
- Drug formulation & vaccines
- component of media, and
- Other
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Baxter International Inc
- China Biologic Products, Inc
- CSL Limited
- Grifols, SA
- Merck KGaA
- Novozymes
- Octapharma AG
- Takeda Pharmaceuticals Inc
- Thermo Fisher Scientific
- Ventria Bioscience
For more information about this report visit https://www.researchandmarkets.com/r/7239ih
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