The global albumin market size was estimated to be USD 5.80 billion in 2023 and is expected to reach at USD 11.51 billion by 2034 with a CAGR of 6.43% during the forecast period 2024-2034. The heightened occurrence of hypoalbuminemia & other medical conditions, an increase in plasma fractionation facilities, a surge in plasma collection, innovations by leading market players, a rise in product approvals, an increase in the introduction of new products, a growing utilization of albumin injection for cardiopulmonary bypass surgery, and an escalation in research and development activities related to albumin products are some of the primary reasons fuelling the market expansion.
An escalation in research and development activities related to albumin products is predicted to boost the market growth during the forecast period. Albumin, the predominant protein in blood plasma, serves therapeutic purposes by replenishing lost fluids and restoring blood volume after events such as trauma, burns, surgeries, infections, and liver diseases. Additionally, it aids in stabilizing drugs by mitigating issues like aggregation, oxidation, and surface absorption. Various forms of serum albumin find extensive use in clinical applications. Consequently, there is a global increase in research activities aimed at determining the effectiveness of albumin in various medical contexts. For instance, in July 2023, Grifols S.A., a prominent producer of plasma-derived medications, has completed phase 3 of the PRECIOSA trial. This study assesses the potential of long-term treatment with Grifols S.A.'s Albutein, an albumin-based therapy, to extend the survival period for individuals with decompensated cirrhosis and ascites, providing support until a suitable transplant becomes available.
By product, human serum albumin was the highest revenue-grossing segment in the global albumin market in 2023 owing to the rising introduction of innovative products and increased sales of medications aimed at treating hypoalbuminemia. Additionally, recombinant albumin is predicted to grow at fastest CAGR during the forecast period owing to the factors such as the lack of animal-derived components, elevated homogeneity and purity, and the increasing implementation of strategic initiatives such as mergers and acquisitions by key industry players. For instance, in August 2022, Sartorius AG has completed the acquisition of Albumedix, Ltd., a UK-based company specializing in the production of products based on recombinant human albumin. This strategic move is aimed at enhancing Sartorius AG's product portfolio in the realm of recombinant-based products.
By application, therapeutics was the highest revenue-grossing segment in the global albumin market in 2023 owing to the heightened demand for albumin in research and development activities, a surge in the introduction of innovative products, an increase in the adoption of these products for therapeutic purposes, and a growing number of approvals by regulatory authorities. For instance, in July 2023, Kedrion Biopharma has revealed that the National Institutes for Food and Drug Control (NIFDC) in China granted approval for the release of BPL's human Albumin product for therapeutic use in the Chinese market. Additionally, research is predicted to grow at fastest CAGR during the forecast period owing to the growing incidence of diverse life-threatening diseases and rare disorders, combined with escalating investments in research and development as well as clinical trials for drug development.
By end-user, hospital & clinics was the highest revenue-grossing segment in the global albumin market in 2023 owing to the expansion of albumin-based therapeutic treatments and the administration of these therapeutics within hospital settings. Additionally, pharmaceutical & biotechnology industry is predicted to grow at fastest CAGR during the forecast period owing to the growing usage of albumin in developing new therapeutic solutions, surge in clinical trial procedures, and rising focus on expansion by market players. For instance, in July 2023, Kedrion Biopharma, a global biopharmaceutical company specializing in the production of plasma-derived therapeutic products, has disclosed its plans to broaden the availability of its human serum albumin products in the Chinese market. This expansion aims to address the treatment needs for rare diseases.
Asia Pacific region is anticipated for the highest revenue share during the forecast period owing to the key players in the industry are implementing strategies like establishing plasma fractionation centers to broaden their product portfolios, engaging in mergers & partnerships, increasing investments in research & development, rising adoption of therapeutic products, and growing introduction of new products. For instance, in May 2023, American Regent, Inc. has introduced paclitaxel protein-bound particles for injectable suspension (Albumin-Bound), providing an alternative to Abraxane. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the extensive utilization of these products in research & development, the expanding non-therapeutic applications of these products, an increase in product approvals, a rise in plasma collection, the heightened prevalence of plasma fractionation facilities to facilitate the production of these products, and increasing investment by market players. For instance, in September 2022, Takeda Pharmaceutical Company Limited has allocated an investment of approximately EUR 300 million (USD 300 million) for the establishment of a new plasma fractionation plant at its existing facility in Lessines, Belgium.
An escalation in research and development activities related to albumin products is predicted to boost the market growth during the forecast period. Albumin, the predominant protein in blood plasma, serves therapeutic purposes by replenishing lost fluids and restoring blood volume after events such as trauma, burns, surgeries, infections, and liver diseases. Additionally, it aids in stabilizing drugs by mitigating issues like aggregation, oxidation, and surface absorption. Various forms of serum albumin find extensive use in clinical applications. Consequently, there is a global increase in research activities aimed at determining the effectiveness of albumin in various medical contexts. For instance, in July 2023, Grifols S.A., a prominent producer of plasma-derived medications, has completed phase 3 of the PRECIOSA trial. This study assesses the potential of long-term treatment with Grifols S.A.'s Albutein, an albumin-based therapy, to extend the survival period for individuals with decompensated cirrhosis and ascites, providing support until a suitable transplant becomes available.
By product, human serum albumin was the highest revenue-grossing segment in the global albumin market in 2023 owing to the rising introduction of innovative products and increased sales of medications aimed at treating hypoalbuminemia. Additionally, recombinant albumin is predicted to grow at fastest CAGR during the forecast period owing to the factors such as the lack of animal-derived components, elevated homogeneity and purity, and the increasing implementation of strategic initiatives such as mergers and acquisitions by key industry players. For instance, in August 2022, Sartorius AG has completed the acquisition of Albumedix, Ltd., a UK-based company specializing in the production of products based on recombinant human albumin. This strategic move is aimed at enhancing Sartorius AG's product portfolio in the realm of recombinant-based products.
By application, therapeutics was the highest revenue-grossing segment in the global albumin market in 2023 owing to the heightened demand for albumin in research and development activities, a surge in the introduction of innovative products, an increase in the adoption of these products for therapeutic purposes, and a growing number of approvals by regulatory authorities. For instance, in July 2023, Kedrion Biopharma has revealed that the National Institutes for Food and Drug Control (NIFDC) in China granted approval for the release of BPL's human Albumin product for therapeutic use in the Chinese market. Additionally, research is predicted to grow at fastest CAGR during the forecast period owing to the growing incidence of diverse life-threatening diseases and rare disorders, combined with escalating investments in research and development as well as clinical trials for drug development.
By end-user, hospital & clinics was the highest revenue-grossing segment in the global albumin market in 2023 owing to the expansion of albumin-based therapeutic treatments and the administration of these therapeutics within hospital settings. Additionally, pharmaceutical & biotechnology industry is predicted to grow at fastest CAGR during the forecast period owing to the growing usage of albumin in developing new therapeutic solutions, surge in clinical trial procedures, and rising focus on expansion by market players. For instance, in July 2023, Kedrion Biopharma, a global biopharmaceutical company specializing in the production of plasma-derived therapeutic products, has disclosed its plans to broaden the availability of its human serum albumin products in the Chinese market. This expansion aims to address the treatment needs for rare diseases.
Asia Pacific region is anticipated for the highest revenue share during the forecast period owing to the key players in the industry are implementing strategies like establishing plasma fractionation centers to broaden their product portfolios, engaging in mergers & partnerships, increasing investments in research & development, rising adoption of therapeutic products, and growing introduction of new products. For instance, in May 2023, American Regent, Inc. has introduced paclitaxel protein-bound particles for injectable suspension (Albumin-Bound), providing an alternative to Abraxane. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the extensive utilization of these products in research & development, the expanding non-therapeutic applications of these products, an increase in product approvals, a rise in plasma collection, the heightened prevalence of plasma fractionation facilities to facilitate the production of these products, and increasing investment by market players. For instance, in September 2022, Takeda Pharmaceutical Company Limited has allocated an investment of approximately EUR 300 million (USD 300 million) for the establishment of a new plasma fractionation plant at its existing facility in Lessines, Belgium.
Segmentation: Albumin Market Report 2023 - 2034
Albumin Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Recombinant Albumin
- Human Serum Albumin
- Bovine Serum Albumin
Albumin Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Diagnostics
- Research
- Therapeutics
Albumin Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Pharmaceutical & Biotechnology Industry
- Hospital & Clinics
- Research Institutes
Albumin Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Albumin Market: Product Estimates & Trend Analysis
8. Albumin Market: Application Estimates & Trend Analysis
9. Albumin Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Albumin Market
12. Europe Global Albumin Market
13. Asia Pacific Global Albumin Market
14. Latin America Global Albumin Market
15. MEA Global Albumin Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Grifols
- S.A
- Baxter International Inc.
- Novozymes
- Takeda Pharmaceuticals Inc
- Merck KGaA
- Thermo Fisher Scientific
- Ventria Bioscience
- CSL Limited
- Octapharma AG
- China Biologic Products Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 5.8 Billion |
| Forecasted Market Value ( USD | $ 11.51 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
