Albumin Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021--2030

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 additon, many companies are increasing their market presence, thereby expanding their business across new markets. For Instance, in June 2020, Biotest has achieved a major milestone in its international expansion strategy by recording the first company sales human albumin in China, which is used stabilization of blood circulation in diseases such as chronic diseases of kidney and liver and burns. These aformentioned factors has led to increase the growth of the albumin market.

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. In addition, in March 2020, Curium has received FDA approval for Pulmotech MAA kit for the preparation of technetium Tc 99m albumin aggregated injection. It is a single photon emission agent for lung imaging as an adjunct in the evaluation of pulmonary perfusion. Thus, the advancements in albumin product development are expected to drive the growth of the market.

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.

The global albumin market is segmented on the basis of type, usage, material, and, end user, and region. By Type, the market is categorized into human serum albumin, bovine serum albumin, and recombinant albumin.

Depending on application, it is fragmented into therapeutics, drug formulation & vaccines, component of media, and other applications. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major companies that operate in the global albumin market are Baxter International Inc., China Biologic Products, Inc, CSL Limited, Grifols, S.A, Merck KGaA, Novozymes, Octapharma AG, Takeda Pharmaceuticals Inc, Thermo Fisher Scientific, and Ventria Bioscience.

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

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

Frequently Asked Questions about the Albumin Market

What is the estimated value of the Albumin Market?

The Albumin Market was estimated to be valued at $4813.5 million in 2020.

What is the growth rate of the Albumin Market?

The growth rate of the Albumin Market is 6.4%, with an estimated value of $8956.07 million by 2030.

What is the forecasted size of the Albumin Market?

The Albumin Market is estimated to be worth $8956.07 million by 2030.

Who are the key companies in the Albumin Market?

Key companies in the Albumin Market include Baxter International Inc., China Biologic Products, Inc, CSL Limited, GrifolsS.A., Merck KGaA, Novozymes, Octapharma AG, Takeda Pharmaceuticals Inc, Thermo Fisher Scientific and Ventria Bioscience..

Report Attribute	Details
No. of Pages	200
Published	February 2022
Forecast Period	2020 - 2030
Estimated Market Value ( USD ) in 2020	$ 4813.5 million
Forecasted Market Value ( USD ) by 2030	$ 8956.07 million
Compound Annual Growth Rate	6.4%
Regions Covered	Global
No. of Companies Mentioned	10

Chapter 1: Introduction

1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

Chapter 2: Executive Summary

2.1. Key Findings of the Study
2.2. Cxo Perspective

Chapter 3: Market Overview

3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.3. Market Share Analysis, 2016
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Increase in Prevalence of Rare Diseases and Various Life-Threatening Conditions
3.4.1.2. Increase in Demand for Albumin
3.4.1.3. Growing Preferences for Recombinant Albumin
3.4.1.4. Rise in Non-Therapeutic Application of Albumin
3.4.2. Restraints
3.4.2.1. Stringent Government Regulations
3.4.2.2. Risks Associated With Albumin
3.4.3. Opportunities
3.4.3.1. Opportunities in Emerging Economies
3.4.3.2. Development of Cost Effective Therapeutics Through Large Scale Production
3.4.4. Impact Analyses
3.5. Government Regulations
3.6. Patent Analysis (2013-2018)
3.6.1. Patent Analysis, by Year
3.6.2. Patent Analysis for Year 2017, by Country

Chapter 4: Albumin Market, by Product

4.1. Overview
4.1.1. Market Size and Forecast
4.2. Human Serum Albumin
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis, by Country
4.3. Bovine Serum Albumin
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
4.4. Recombinant Albumin
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis, by Country

Chapter 5: Albumin Market, by Application

5.1. Overview
5.1.1. Market Size and Forecast (Value)
5.2. Therapeutics
5.2.1. Market Size and Forecast, by Region
5.2.2. Market Analysis, by Country
5.3. Drug Formulation & Vaccines
5.3.1. Market Size and Forecast, by Region
5.3.2. Market Analysis, by Country
5.4. Component of Media
5.4.1. Market Size and Forecast, by Region
5.4.2. Market Analysis, by Country
5.5. Other Applications
5.5.1. Market Size and Forecast, by Region
5.5.2. Market Analysis, by Country

Chapter 6: Albumin Market, by Region

6.1. Overview
6.1.1. Market Size and Forecast
6.2. North America
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. North America Albumin Market, by Country
6.2.2.1. U. S.
6.2.2.1.1. Market Size and Forecast, by Product
6.2.2.1.2. Market Size and Forecast, by Application
6.2.2.2. Canada
6.2.2.2.1. Market Size and Forecast, by Product
6.2.2.2.2. Market Size and Forecast, by Application
6.2.2.3. Mexico
6.2.2.3.1. Market Size and Forecast, by Product
6.2.2.3.2. Market Size and Forecast, by Application
6.2.3. North America Market Size and Forecast, by Product
6.2.4. North America Market Size and Forecast, by Application
6.3. Europe
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Europe Market Size and Forecast, by Country
6.3.2.1. Germany
6.3.2.1.1. Market Size and Forecast, by Product
6.3.2.1.2. Market Size and Forecast, by Application
6.3.2.2. France
6.3.2.2.1. Market Size and Forecast, by Product
6.3.2.2.2. Market Size and Forecast, by Application
6.3.2.3. Uk
6.3.2.3.1. Market Size and Forecast, by Product
6.3.2.3.2. Market Size and Forecast, by Application
6.3.2.4. Italy
6.3.2.4.1. Market Size and Forecast, by Product
6.3.2.4.2. Market Size and Forecast, by Application
6.3.2.5. Spain
6.3.2.5.1. Market Size and Forecast, by Product
6.3.2.5.2. Market Size and Forecast, by Application
6.3.2.6. Rest of Europe
6.3.2.6.1. Market Size and Forecast, by Product
6.3.2.6.2. Market Size and Forecast, by Application
6.3.2.6.3. Europe Market Size and Forecast, by Product
6.3.2.6.4. Europe Market Size and Forecast, by Application
6.4. Asia-Pacific
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Asia-Pacific Market Size and Forecast, by Country
6.4.2.1. Japan
6.4.2.1.1. Market Size and Forecast, by Product
6.4.2.1.2. Market Size and Forecast, by Application
6.4.2.2. China
6.4.2.2.1. Market Size and Forecast, by Product
6.4.2.2.2. Market Size and Forecast, by Application
6.4.2.3. India
6.4.2.3.1. Market Size and Forecast, by Product
6.4.2.3.2. Market Size and Forecast, by Application
6.4.2.4. Australia
6.4.2.4.1. Market Size and Forecast, by Product
6.4.2.4.2. Market Size and Forecast, by Application
6.4.2.5. South Korea
6.4.2.5.1. Market Size and Forecast, by Product
6.4.2.5.2. Market Size and Forecast, by Application
6.4.2.6. Rest of Asia-Pacific
6.4.2.6.1. Market Size and Forecast, by Product
6.4.2.6.2. Market Size and Forecast, by Application
6.4.3. Asia-Pacific Market Size and Forecast, by Product
6.4.4. Asia-Pacific Market Size and Forecast, by Application
6.5. Lamea
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Lamea Market Size and Forecast, by Country
6.5.2.1. Brazil
6.5.2.1.1. Market Size and Forecast, by Product
6.5.2.1.2. Market Size and Forecast, by Application
6.5.2.2. Saudi Arabia
6.5.2.2.1. Market Size and Forecast, by Product
6.5.2.2.2. Market Size and Forecast, by Application
6.5.2.3. South Africa
6.5.2.3.1. Market Size and Forecast, by Type
6.5.2.3.2. Market Size and Forecast, by Application
6.5.2.4. Rest of LAMEA
6.5.2.4.1. Market Size and Forecast, by Product
6.5.2.4.2. Market Size and Forecast, by Application
6.5.3. Lamea Market Size and Forecast, by Product
6.5.4. Lamea Market Size and Forecast, by Application

Chapter 7: Company Profiles

7.1. Baxter International Inc.
7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Operating Business Segments
7.1.4. Product Portfolio
7.1.5. Business Performance
7.2. China Biologic Products Holdings, Inc.
7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Operating Business Segments
7.2.4. Product Portfolio
7.2.5. Business Performance
7.3. Csl Limited
7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Operating Business Segments
7.3.4. Product Portfolio
7.3.5. Business Performance
7.4. Grifols S. A. (Grifols International, S. A.)
7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Operating Business Segments
7.4.4. Product Portfolio
7.4.5. Business Performance
7.4.6. Key Strategic Moves and Developments
7.5. Merck Kgaa
7.5.1. Company Overview
7.5.2. Company Snapshot
7.5.3. Operating Business Segments
7.5.4. Product Portfolio
7.5.5. Business Performance
7.6. Novozymes A/S (Albumedix Ltd.)
7.6.1. Company Overview
7.6.2. Operating Business Segments
7.6.3. Product Portfolio
7.6.4. Business Performance
7.7. Octapharma AG
7.7.1. Company Overview
7.7.2. Company Snapshot
7.7.3. Operating Business Segments
7.7.4. Product Portfolio
7.7.5. Business Performance
7.8. Takeda Pharmaceuticals
7.8.1. Company Overview
7.8.2. Company Snapshot
7.8.3. Operating Business Segments
7.8.4. Product Portfolio
7.8.5. Business Performance
7.9. Thermo Fisher Scientific Inc (Affymetrix, Inc.)
7.9.1. Company Overview
7.9.2. Company Snapshot
7.9.3. Operating Business Segments
7.9.4. Product Portfolio
7.9.5. Business Performance
7.10. Ventria Bioscience
7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Operating Product Categories
7.10.4. Product Portfolio

List of Tables

Table 01. Marketed Formulation of Albumin
Table 02. Global Albumin Market, by Product, 2016–2023 ($Million)
Table 03. Human Serum Albumin Market, by Region, 2016–2023 ($Million)
Table 04. Bovine Serum Albumin Market, by Region, 2016–2023 ($Million)
Table 05. Recombinant Albumin Market, by Region, 2016–2023 ($Million)
Table 06. Global Albumin Market, by Application, 2016–2023 ($Million)
Table 07. Albumin Market for Therapeutics, by Region, 2016–2023 ($Million)
Table 08. Albumin Market for Drug Formulation & Vaccines, by Region, 2016–2023 ($Million)
Table 09. Albumin Market for Component of Media, by Region, 2016–2023 ($Million)
Table 10. Albumin Market for Other Applications, by Region, 2016–2023 ($Million)
Table 11. Albumin Market, by Region, 2016–2023 ($Million)
Table 12. North America Albumin Market, by Country, 2016–2023 ($Million)
Table 13. U.S Albumin Market, by Product, 2016–2023 ($Million)
Table 14. U.S Albumin Market, by Application, 2016–2023 ($Million)
Table 15. Canada Albumin Market, by Product, 2016–2023 ($Million)
Table 16. Canada Albumin Market, by Application, 2016–2023 ($Million)
Table 17. Mexico Albumin Market, by Product, 2016–2023 ($Million)
Table 18. Mexico Albumin Market, by Application, 2016–2023 ($Million)
Table 19. North America Albumin Market, by Product, 2016-2023 ($Million)
Table 20. North America Albumin Market, by Application, 2016-2023 ($Million)
Table 21. Europe Albumin Market, by Country, 2016-2023 ($Million)
Table 22. Germany Albumin Market, by Product, 2016–2023 ($Million)
Table 23. Germany Albumin Market, by Application, 2016–2023 ($Million)
Table 24. France Albumin Market, by Product, 2016–2023 ($Million)
Table 25. France Albumin Market, by Application, 2016–2023 ($Million)
Table 26. Uk Albumin Market, by Product, 2016–2023 ($Million)
Table 27. Uk Albumin Market, by Application, 2016–2023 ($Million)
Table 28. Italy Albumin Market, by Product, 2016–2023 ($Million)
Table 29. Italy Albumin Market, by Application, 2016–2023 ($Million)
Table 30. Spain Albumin Market, by Product, 2016–2023 ($Million)
Table 31. Spain Albumin Market, by Application, 2016–2023 ($Million)
Table 32. Rest of Europe Albumin Market, by Product, 2016–2023 ($Million)
Table 33. Rest of Europe Albumin Market, by Application, 2016–2023 ($Million)
Table 34. Europe Albumin Market, by Product, 2016-2023 ($Million)
Table 35. Europe Albumin Market, by Application, 2016-2023 ($Million)
Table 36. Asia-Pacific Albumin Market, by Country, 2016-2023 ($Million)
Table 37. Japan Albumin Market, by Product, 2016–2023 ($Million)
Table 38. Japan Albumin Market, by Application, 2016–2023 ($Million)
Table 39. China Albumin Market, by Product, 2016–2023 ($Million)
Table 40. China Albumin Market, by Application, 2016–2023 ($Million)
Table 41. India Albumin Market, by Product, 2016–2023 ($Million)
Table 42. India Albumin Market, by Application, 2016–2023 ($Million)
Table 43. Australia Albumin Market, by Product, 2016–2023 ($Million)
Table 44. Australia Albumin Market, by Application, 2016–2023 ($Million)
Table 45. South Korea Albumin Market, by Product, 2016–2023 ($Million)
Table 46. South Korea Albumin Market, by Application, 2016–2023 ($Million)
Table 47. Rest of Asia-Pacific Albumin Market, by Product, 2016–2023 ($Million)
Table 48. Rest of Asia-Pacific Albumin Market, by Application, 2016–2023 ($Million)
Table 49. Asia-Pacific Albumin Market, by Product, 2016-2023 ($Million)
Table 50. Asia-Pacific Albumin Market, by Application, 2016-2023 ($Million)
Table 51. Lamea Albumin Market, by Country, 2016-2023 ($Million)
Table 52. Brazil Albumin Market, by Product, 2016–2023 ($Million)
Table 53. Brazil Albumin Market, by Application, 2016–2023 ($Million)
Table 54. Saudi Arabia Albumin Market, by Product, 2016–2023 ($Million)
Table 55. Saudi Arabia Albumin Market, by Application, 2016–2023 ($Million)
Table 56. South Africa Albumin Market, by Product, 2016–2023 ($Million)
Table 57. South Africa Albumin Market, by Application, 2016–2023 ($Million)
Table 58. Rest of LAMEA Albumin Market, by Product, 2016–2023 ($Million)
Table 59. Rest of LAMEA Albumin Market, by Application, 2016–2023 ($Million)
Table 60. Lamea Albumin Market, by Product, 2016-2023 ($Million)
Table 61. Lamea Albumin Market, by Application, 2016-2023 ($Million)
Table 62. Baxter: Company Snapshot
Table 63. Baxter: Operating Segments
Table 64. Baxter: Product Portfolio
Table 65. China Biologic. : Company Snapshot
Table 66. China Biologic: Product Portfolio
Table 67. Csl: Company Snapshot
Table 68. Csl: Product Segments
Table 69. Csl: Product Portfolio
Table 70. Grifols: Company Snapshot
Table 71. Grifols: Operating Segments
Table 72. Grifols: Product Portfolio
Table 73. Merck: Company Snapshot
Table 74. Merck: Product Segments
Table 75. Merck: Product Portfolio
Table 76. Novozymes A/S: Company Snapshot
Table 77. Novozymes A/S: Product Categories
Table 78. Novozymes A/S: Product Portfolio
Table 79. Octapharma: Company Snapshot
Table 80. Octapharma: Product Segments
Table 81. Octapharma: Product Portfolio
Table 82. Takeda: Company Snapshot
Table 83. Takeda: Product Segments
Table 84. Takeda: Product Portfolio
Table 85. Thermo Fisher Scientific: Company Snapshot
Table 86. Thermo Fisher Scientific : Operating Segments
Table 87. Thermo Fisher Scientific : Product Portfolio
Table 88. Ventria: Company Snapshot
Table 89. Ventria: Product Categories
Table 90. Ventria: Product Portfolio

List of Figures

Figure 01. Albumin Market Segmentation
Figure 02. Top Investment Pockets
Figure 03. Market Share Analysis, 2016
Figure 04. Age Distribution of Burn Patients by Gender in India, 2013 (In Percentage)
Figure 05. Impact Analyses
Figure 06. Patents Registered/Approved in the World, 2013-2018
Figure 07. Patents Analysis by Year, 2013 Through 2018
Figure 08. Year 2017 Patent Analysis, by Country
Figure 09. Comparative Analysis of Human Serum Market, 2016-2023 ($ Million)
Figure 10. Comparative Analysis of Bovine Serum Albumin Market, 2016-2023 ($ Million)
Figure 11. Comparative Analysis of Recombinant Albumin Market, 2016 & 2023 ($ Million)
Figure 12. Comparative Analysis of Albumin Market for Therapeutics, 2016-2023 ($ Million)
Figure 13. Comparative Analysis of Albumin Market for Drug Formulation & Vaccines, 2016 & 2023 ($ Million)
Figure 14. Comparative Analysis of Albumin Market for Component of Media, 2016 & 2023 ($ Million)
Figure 15. Comparative Analysis of Albumin Market for Other Applications, 2016 & 2023 ($ Million)
Figure 16. Number of Cardiovascular Surgeries in Canada from 2007 to 2014
Figure 17. Incidence Rate of Different Types Cancer in Germany 2012
Figure 18. Number of Organs Transplanted in China from 2010 to 2015
Figure 19. Baxter: Net Sales, 2018–2020 ($ Million)
Figure 20. Baxter: Revenue Share by Segment, 2020 (%)
Figure 21. Baxter: Revenue Share by Geography, 2020 (%)
Figure 22. China Biologic: Revenue, 2018–2020 ($ Million)
Figure 23. Csl: Net Sales, 2018–2020 ($ Million)
Figure 24. Csl: Revenue Share by Segment, 2020 (%)
Figure 25. Csl: Revenue Share by Geography, 2020 (%)
Figure 26. Grifols: Revenue, 2018–2020 ($ Million)
Figure 27. Grifols: Revenue Share by Segment, 2020 (%)
Figure 28. Grifols: Revenue Share by Geography, 2020 (%)
Figure 29. Merck: Net Sales, 2018–2020 ($ Million)
Figure 30. Merck: Revenue Share by Segment, 2020 (%)
Figure 31. Merck: Revenue Share by Geography, 2020 (%)
Figure 32. Novozymes A/S: Revenue, 2018–2020 ($ Million)
Figure 33. Novozymes A/S: Revenue Share by Segment, 2020 (%)
Figure 34. Novozymes A/S: Revenue Share by Geography, 2020 (%)
Figure 35. Octapharma: Net Sales, 2018–2020 ($ Million)
Figure 36. Takeda: Net Sales, 2018–2020 ($ Million)
Figure 37. Takeda: Revenue Share by Product, 2020 (%)
Figure 38. Takeda: Revenue Share by Geography, 2020 (%)
Figure 39. Thermo Fisher Scientific: Revenue, 2018–2020 ($ Million)
Figure 40. Thermo Fisher Scientific: Revenue Share by Segment, 2020 (%)
Figure 41. Thermo Fisher Scientific: Revenue Share by Geography, 2020 (%)

Executive Summary

According to a new report titled, “Albumin Market by Type, Application Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the surgical clamps 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.

Albumin is globular protein found in blood plasma. It is most abundant protein in plasma constituting around 50% of the total protein in the blood. It plays a vital role in maintaining proper oncotic blood pressure and transporting hormones, fatty acids, and other compounds throughout the body. It is derived from blood plasma on fractionation, and is widely used to clinically treat variety of diseases. Different types of albumin are used clinically, including human serum albumin, bovine serum albumin, and recombinant albumin.

The factors that drive the growth of the albumin market include increase in prevalence of life-threatening diseases and conditions such as surgical procedures, liver diseases, and trauma & burns cases. Moreover, rise in awareness about recombinant albumin products, upsurge in demand for albumin products, and growth in non-therapeutic application of albumin also fuel the growth of the market. However, stringent governmental regulations and reforms associated with albumin-based therapy impede the market growth. Conversely, the development of cost-effective therapeutic drugs along with large production of albumin and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.

Increasing use of recombinant albumin in drug delivery, a recombinant DNA technology, has demonstrated a strong impact on human life. It is used to produce proteins and other components in laboratory. Recombinant albumin is preferred by manufacturers for R & D of innovative drugs for the treatment of hypoalbuminemia. For instance, in August 2018, Novartis partnered with Albumedix, specialize in recombinant human albumin. This partnership allowed Novartis to expand its business by developing several therapies for drug delivery applications. Moreover, in March 2021, Aledix announced a partnership with Fujifilm Wako Pure Chemical Corporation for the supply of recombinant human albumin in Japanese and Chinese market. Thus, development of albumin by key players propels the growth of the market.

In the U.S., human albumin is indicated for restoration and maintenance of circulating blood volume where volume deficiency has been reported. The U.S FDA has regulated sales and distribution of albumin as fractionated plasma products. In 2019, the U.S FDA identified two albumin brands such as Albuminex and Kedbumin. In addition, increase in drug development and drug discovery activities in the biopharmaceutical industry drive the growth of the albumin market.

The albumin market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is segmented into human serum albumin, bovine serum albumin, and recombinant albumin.

The human serum albumin segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of product approvals, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of albumin products.

By application, it is fragmented into therapeutics, drug formulation & vaccines, component of media, and others. The therapeutics segment acquired top position in the market in 2020, and this trend is expected to continue during the forecast period, owing to large number of albumin products offered by key players and increase in use for drug discovery activities.

North America accounted for a majority of the global albumin market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in production of immunoglobulins, increase in number of approvals for albumin products, rise in presence of key players, and surge in development of technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of trauma, burns cases, rise in plasma collection, and growth in health care expenditures

Key Findings Of The Study

By type, the human serum albumin segment was the highest contributor to the market in 2020
On the basis of application type, the therapeutics segment dominated the market in 2020, and is expected to continue this trend during the forecast period
Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period

Companies Mentioned

Baxter International Inc.
China Biologic Products, Inc
CSL Limited
GrifolsS.A.
Merck KGaA
Novozymes
Octapharma AG
Takeda Pharmaceuticals Inc
Thermo Fisher Scientific
Ventria Bioscience.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
Scientific and technical writings for product information and related preemptions
Regional government and statistical databases for macro analysis
Authentic news articles and other related releases for market evaluation
Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

LOADING...