Albumin Market

Global Albumin Market Report: By Type (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin), Application (Drug Delivery, Therapeutics, Culture Media Ingredient, Vaccine Ingredient, and Other Applications), and Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Pharma & Healthcare | January 2024 | Report ID: EMR00497 | Pages: 301

Global Albumin market is predicted to reach approximately USD 9.48 billion by 2032, at a CAGR of 4.79% from 2024 to 2032.

The liver secretes albumin, a water-soluble protein that is essential for sustaining oncotic pressure, moving chemicals, and controlling blood pH. This multifunctional protein comes from a variety of sources, each with pros and cons of its own, such as human plasma, bovine serum, and recombinant technologies. The primary driver of the market is the rise in chronic illnesses that require albumin-based therapeutic interventions, such as nephrosis, burn injuries, and liver disorders.

With a substantial portion of the world market for albumin, the pharmaceutical sector uses the protein in formulations for medications, vaccinations, and diagnostics. Additionally, albumin is widely used in the biotechnology industry, especially in the production of therapeutic proteins and in cell culture procedures. Due to worries about the availability and safety of albumin derived from plasma, there has been a noticeable shift in the market towards the use of recombinant albumin. The global albumin market is dominated by North America and Europe due to their developed healthcare systems and high rates of chronic illness.

 

 

Global Albumin report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 6.22 billion

Projected Market Value (2032)

USD 9.48 billion

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Type, By Application, & Region.

Segments Covered

By Type, By Application, & By Region.

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Albumin dynamics

The increasing incidence of chronic conditions like nephrosis, burns, and liver problems is one of the main factors driving the need for more albumin to be used in therapeutic applications. The pharmaceutical industry is a key driver, using albumin to formulate medications, immunisations, and diagnostic instruments. Furthermore, albumin is necessary for cell culture procedures and the creation of therapeutic proteins in the growing biotechnology sector, which fuels market expansion.

Concerns about the availability and safety of plasma-derived albumin have led to a noticeable trend in the market: the growing use of recombinant albumin. Recombinant technologies provide an enhanced safety profile for albumin-based products by addressing regulatory concerns and enabling a more regulated and scalable production process. This change is indicative of a larger industry emphasis on risk reduction and innovation.

 

Global Albumin drivers

  • Increasing Prevalence of Chronic Diseases

The global albumin market is significantly influenced by the rising prevalence of chronic illnesses like nephrosis and liver problems. When it comes to therapeutic interventions for these conditions, albumin is essential because it helps with the recovery process and maintains oncotic pressure. The need for albumin-based treatments is anticipated to increase as the world's population ages and lifestyle-related health problems become more common, offering a consistent boost to market expansion.

  • Expanding Applications in Pharmaceuticals and Biotechnology

The demand for albumin is being driven by the pharmaceutical and biotechnology industries, which use it in vaccines, diagnostic tools, and drug formulations. Because of its many uses, such as improving drug delivery and stabilising medications, albumin is a useful ingredient in pharmaceutical products. Albumin is essential for cell culture procedures and the creation of therapeutic proteins in biotechnology. Due to the constant progress in these fields and the constant search for new uses, the variety of applications for albumin is anticipated to stimulate market growth.

 

Restraints:

  • Regulatory Challenges and Quality Control

For the albumin market, strict regulations and quality control procedures present obstacles. Because albumin is so important in medical applications, it is crucial to make sure the product is safe and that regulations are followed. It may take a lot of time and resources to meet these requirements, which could hinder market expansion. Businesses in the albumin industry have to negotiate challenging regulatory environments in order to launch products and stay ahead of the competition.

  • Fluctuations in Raw Material Availability and Costs

The albumin market is sensitive to fluctuations in the availability and costs of raw materials, such as human plasma and bovine serum. The dependence on these sources introduces supply chain vulnerabilities and cost variability. Shifts in geopolitical factors, regulatory changes, or unexpected events like disease outbreaks can disrupt the supply of raw materials, affecting the production and pricing of albumin products. Market players need to implement robust supply chain strategies to mitigate these risks.

 

Opportunities:

  • Rising Demand for Recombinant Albumin

Recombinant albumin's growing utilisation offers a substantial window of opportunity for market expansion. Recombinant technologies alleviate worries about the availability and safety of albumin derived from plasma by providing a more regulated and scalable production process. Businesses that make investments in the creation of recombinant albumin technologies stand to benefit from a competitive edge by providing safer and more environmentally friendly substitutes that satisfy changing consumer demands.

 

Segment Overview

  • By Type

The market for albumin is divided into three categories: recombinant albumin, bovine serum albumin, and human serum albumin. With a substantial market share, human serum albumin is made from human blood plasma. Because of its compatibility with the human body, it is widely used in a variety of medical applications. A significant additional component that has a wide range of uses is bovine serum albumin, which is derived from cows. The utilisation of genetic engineering techniques to produce recombinant albumin is gaining popularity due to its potential to mitigate safety concerns related to plasma-derived albumin and its scalability in production.

  • By Application  

The albumin market is diversified into different uses by the application segment, which serves a range of industries. One particularly notable application is Drug Delivery, which makes use of albumin's capacity to stabilise medications and improve their therapeutic efficacy. Albumin is essential in therapeutics for the treatment of diseases like nephrosis and liver problems. Albumin helps with cell culture procedures in biotechnology, where it is used as a Culture Media Ingredient. Moreover, albumin is an essential component of vaccines, supporting their stability and effectiveness. There is a wide range of applications that fall under the category of Other Applications, such as its use in research reagents, cosmetics, and diagnostics. This wide range of uses demonstrates albumin's adaptability to a variety of industries, making it an essential part of numerous biotechnological and medical procedures.

 

Global Albumin Overview by Region

North America and Europe dominate the market, driven by well-established healthcare infrastructure, increasing prevalence of chronic diseases, and robust research and development activities. The United States, in particular, stands out as a major contributor to market growth, with a strong emphasis on biopharmaceutical advancements and the presence of key market players.

In the Asia-Pacific region, the albumin market is witnessing substantial growth, propelled by a rising geriatric population, increasing healthcare investments, and a surge in demand for biopharmaceuticals. Countries such as China and India are emerging as key players in the global pharmaceutical and biotechnology sectors, contributing significantly to the expansion of the albumin market. The Middle East & Africa region is experiencing a gradual uptake in albumin utilization, driven by improving healthcare infrastructure and a growing awareness of albumin's therapeutic applications.

 

 

Global Albumin market competitive landscape

Major companies such as CSL Limited, Grifols, Octapharma AG, and Sigma-Aldrich Corporation are actively involved in product development, collaborations, and geographic expansions to strengthen their market positions. These companies focus on advancing technologies for the production of albumin, with a notable trend towards recombinant albumin to address safety concerns associated with plasma-derived sources.

In the market, strategic alliances and partnerships are commonplace, allowing businesses to take advantage of one another's advantages in R&D and distribution. The competitive landscape is also significantly shaped by mergers and acquisitions, as businesses look to broaden their global reach and improve their product offerings. In order to guarantee the safety and effectiveness of their products, major players in the albumin market heavily invest in research and development. Quality control and adherence to regulatory standards are crucial.

 

Global Albumin Recent Developments

  • July 2023, Kedrion Biopharma, a global biopharmaceutical firm focused on manufacturing and delivering plasma-derived therapeutic products for the treatment of rare and severe illnesses, recently disclosed that the National Institutes for Food and Drug Control (NIFDC) in China has granted approval for the release of BPL's human Albumin product in the Chinese market. In the year 2023, Kedrion collaborated with BPL, a UK-based company with a rich history spanning over 60 years in providing top-notch plasma-derived medications for rare disease treatment.
  • June 2023, Albumedix Ltd., a renowned global authority in Recombinant Human Albumin (rHA), dedicated to advancing therapies and biopharmaceuticals, has revealed the extension of its ongoing partnership with Valneva SE. Valneva SE is a specialized vaccine company concentrating on the prevention of infectious diseases that have substantial unmet medical requirements.
  • May 2023, American Regent, Inc. introduced the release of Paclitaxel Protein-Bound Particles for Injectable Suspension (Albumin-Bound), providing a viable alternative to Abraxane.  

 

Scope of global Albumin report

Global Albumin report segmentation

ATTRIBUTE

DETAILS

By Type  

  • Human Serum Albumin
  • Bovine Serum Albumin
  • Recombinant Albumin

By Application

  • Drug Delivery
  • Therapeutics
  • Culture Media Ingredient
  • Vaccine Ingredient
  • Other Applications

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Albumin size and forecast: To identify and estimate the market size for global Albumin market segmented by Type, By Application, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Albumin
  • Market Influencing Factors: To find out the factors which are affecting the market of global Albumin among consumers.
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Albumin forecast period is 2024 - 2032.
According to global Albumin research, the market is expected to grow at a CAGR of ~ 4.79% over the next eight years.
The possible segments in global Albumin are based on by Type, By Application, & by region.
The expected market size for Global Albumin is USD 6.22 billion in 2023.
The major players in the market are Biotest AG, Bristol-Myers Squibb Company, Merck KGaA, Akron Biotech, Baxter International Inc., and others.