The global albumin market value in 2022 was USD 5.30 billion and is anticipated to grow at a CAGR of 6.2% during the forecast period of 2023-2031, driven by the growing demand for albumin-based drug formulations across the globe. The global albumin market size is anticipated to reach a value of USD 9.20 billion by 2031.
North America: The largest market for albumin, driven by factors such as the advanced healthcare industry, high prevalence of chronic diseases, and growing demand for albumin-based therapeutic products.
Europe: The second-largest market, with increasing demand for albumin due to a growing aging population, a supportive regulatory framework, and an expanding biopharmaceutical sector.
Asia Pacific: Expected to witness the highest growth rate due to factors such as a rapidly growing population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure and biopharmaceutical research.
Growing demand for albumin-based drug formulations: The increasing preference for albumin as a drug carrier due to its biocompatibility, stability, and solubility has boosted the demand for albumin-based drug formulations, fuelling market growth.
Advancements in albumin production techniques: The development of new production techniques, such as recombinant technology and advanced fractionation methods, has improved the efficiency and quality of albumin production, further driving market growth.
Global Albumin Market: Introduction
Albumin is a globular protein that is synthesized in the liver and constitutes approximately 60% of the total protein content in the blood plasma. It plays a crucial role in maintaining oncotic pressure and regulating the transport of various substances such as hormones, drugs, and nutrients throughout the body. Albumin is extracted from human plasma or produced through recombinant technology and is used in various medical applications, including fluid replacement therapy, drug delivery, and as a plasma expander. It is also used in the manufacturing of vaccines and for the treatment of chronic conditions such as liver disease and hypoalbuminemia.Albumin Market Scenario
The global market for albumin has experienced significant growth in recent years, driven by factors such as the increasing prevalence of chronic diseases, growing demand for albumin-based drug formulations, and advancements in albumin production techniques.North America: The largest market for albumin, driven by factors such as the advanced healthcare industry, high prevalence of chronic diseases, and growing demand for albumin-based therapeutic products.
Europe: The second-largest market, with increasing demand for albumin due to a growing aging population, a supportive regulatory framework, and an expanding biopharmaceutical sector.
Asia Pacific: Expected to witness the highest growth rate due to factors such as a rapidly growing population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure and biopharmaceutical research.
Albumin Market Segmentations
Market Breakup by Type
- Bovine Serum Albumin
- Human Serum Albumin
- Recombinant Serum Albumin
Market Breakup by Application
- Drug Delivery
- Therapeutics
- Culture Media Ingredients
- Vaccine Ingredients
- Others
Market Breakup by Region
North America
- United States of America
- Canada
Europe
- United Kingdom
- Germany
- France
- Italy
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Trends in the Albumin Market
Increasing prevalence of chronic diseases: The growing incidence of chronic diseases, such as liver disease and hypoalbuminemia, has led to a rising demand for albumin-based therapeutic products, driving market growth.Growing demand for albumin-based drug formulations: The increasing preference for albumin as a drug carrier due to its biocompatibility, stability, and solubility has boosted the demand for albumin-based drug formulations, fuelling market growth.
Advancements in albumin production techniques: The development of new production techniques, such as recombinant technology and advanced fractionation methods, has improved the efficiency and quality of albumin production, further driving market growth.
Competitor Landscape
The report gives an in-depth analysis of the key players involved in the albumin market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:- Akron Biotech
- Takeda Pharmaceutical Company Limited
- Baxter International, Inc
- Biotest AG
- Celgene Corporation
- Novozymes A/S
- CSL Behring
- Grifols, S.A
- Baxalata Incorporated
- Octapharma AG
- Sigma-Aldrich Corporation
- Mitsubishi Tanabe Pharma
Table of Contents
1 Preface
3 Global Albumin Market Overview
4 Global Albumin Market Landscape
5 Global Medical Cannabis Market Dynamics
6 Global Albumin Market Segmentation
7 North America Albumin Market
8 Europe Albumin Market
9 Asia Pacific Albumin Market
10 Latin America Albumin Market
11 Middle East and Africa Albumin Market
12 Patent Analysis
13 Grants Analysis
14 Funding Analysis
15 Partnership and Collaborations Analysis
16 Regulatory Framework
17 Supplier Landscape
18 Global Albumin Market- Distribution Model (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
21 Payment Methods (Additional Insight)
Companies Mentioned
- Akron Biotech
- Takeda Pharmaceutical Company Limited
- Baxter International, Inc.
- Biotest AG
- Celgene Corporation
- Novozymes A/S
- Csl Behring
- Grifols, S.A.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | April 2023 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 5.7 Billion |
| Forecasted Market Value ( USD | $ 9.2 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
