Global Albumin Market Size study & Forecast, by Product Type (Human Serum Albumin, Bovine Serum Albumin, Recombinant Albumin), by Application (Drug Formulation, Therapeutics, Diagnostics, Research), by End user (Hospitals & Clinics, Pharmaceutical compani

Global Albumin Market Size study & Forecast, by Product Type (Human Serum Albumin, Bovine Serum Albumin, Recombinant Albumin), by Application (Drug Formulation, Therapeutics, Diagnostics, Research), by End user (Hospitals & Clinics, Pharmaceutical companies, Research institutions) and Regional Analysis, 2023-2030

Global Albumin Market is valued at approximately USD 5.7 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.0% during the forecast period 2023-2030.Albumin is the predominant protein circulating in plasma and constitutes approximately half of the total protein content (3.5 g/dL to 5 g/dL) in healthy human individuals. Synthesized primarily by liver hepatocytes, albumin is promptly released into the bloodstream at a rate ranging from 10 gm to 15 gm per day. The liver retains minimal stores of albumin, with the majority swiftly entering the bloodstream. In humans, serum albumin serves as a crucial regulator of plasma oncotic pressure and facilitates the transport of both endogenous and exogenous substances, including pharmaceuticals. In clinical practice, serum albumin levels are routinely determined through standard serum laboratory assays, often utilized as an indicator of an individual patient's nutritional status. Increasing incidence of cancer among the growing population is serving as a key driver in the scope of the albumin market along with the climate of diseases in today’s era is taking new forms where various drugs and vaccines are demanding the use of Albumin as a base. The rise in the Geriatric population who are less immune to the diseases and the need of Albumin in their blood movements are also a major factor for the stability of the Albumin in the medical industry.

According to World Health Organization (WHO) Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, Each year, approximately 400 000 children develop cancer where Albumin is used as a pretreatment intake for the patients to kill cancer at its initial stages. According to Statista, in 2018, more than 920 metric tons of albumin were consumed worldwide mostly for cancer diagnostics, therapies and Morbus Wilson treatments. Furthermore, the results from National Institute of Health (NIH) were, Of the 29 studies reviewed on cancers of the gastrointestinal tract, all except three found higher serum albumin levels to be associated with better survival in multivariate analysis. Of the 10 studies reviewed on lung cancer, all excepting one found higher serum albumin levels to be associated with better survival. In 6 studies reviewed on female cancers and multiple cancers each, lower levels of serum albumin were associated with poor survival. Finally, in all 8 studies reviewed on patients with other cancer sites, lower levels of serum albumin were associated with poor survival. The Research and development using modern technologies supported and aided by the Governments of various countries serves as a major opportunity for the Albumin market to grow in the forecasted period. One potential obstacle facing the Albumin market is the risk of encountering supply constraints or shortages. These limitations may arise from diverse factors including manufacturing complexities, regulatory hurdles, or disruptions within the supply chain.

The key regions considered for the Global Albumin Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to robust healthcare infrastructures, a considerable patient population, and a heightened level of research and development activities, also renowned for hosting some of the world's premier medical institutions, hospitals, and research centers, the region offers an ideal environment for the widespread adoption of albumin across various medical applications. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as susceptibility to health issues necessitating albumin utilization, such as surgical interventions, trauma management, and chronic disease treatment, which has contributed to a sustained demand for albumin within the region.

Major market player included in this report are:
Octapharma AG
Albumedix Ltd.
Biotest AG
Grifols SA
HiMedia Laboratories Pvt Ltd.
Medxbio Pte Ltd.
CSL Limited
Merck KGaA
Takeda Pharmaceutical Company Limited
Ventria Bioscience Inc

Recent Developments in the Market:
 In November 2023, the FDA granted approval to Albumedix's Recombumin, a crucial component utilized in the world's inaugural chikungunya vaccine developed by Valneva. Albumedix expresses profound pride in its product's contribution to the successful delivery of this pioneering vaccine.
In July 2023, Rifols has completed the enrolment of patients in its Phase III PRECIOSA clinical trial of long-term Albutein (albumin-human injection) therapy to increase the survival time in patients with decompensated cirrhosis. Rifol have implored the survival prospects of patients suffering from decompensated cirrhosis until they can get a liver transplant, a large unmet need given the limited availability of livers for patients.
 In March 2019, Takeda has obtained approval from the U.S. Food and Drug Administration (FDA) to produce FLEXBUMIN® at its newly established plasma manufacturing facility located near Covington, Georgia. This state-of-the-art facility underscores Takeda's commitment to supporting the ongoing expansion of its portfolio of plasma-derived therapies. It enhances our capacity to deliver these intricate therapies to patients, thereby fortifying our ability to meet the healthcare needs of individuals.

Global Albumin Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Product Type, Application, End user, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:
Human Serum Albumin
Bovine Serum Albumin
Recombinant Albumin

By Application:
Drug Formulation
Therapeutics
Diagnostics
Research

By End user:
Hospitals & Clinics
Pharmaceutical companies
Research institutions

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.