Albumin Market was worth USD 0.81 billion in 2021 and is poised to accumulate a valuation of USD 1.7 billion by 2030, registering a CAGR of 6.3% over the forecast duration of 2022-2030
The most prevalent protein in blood plasma is called albumin. When used therapeutically, it replaces lost fluids and aids in blood volume restoration following injuries, burns, operations, infections, and liver illnesses. By lowering aggregation, oxidation, and surface absorption, it helps to stabilise pharmaceuticals. Different kinds of serum albumin are frequently applied in clinical settings. From human plasma and bovine plasma, respectively, human serum albumin and bovine serum albumin are produced.
Blood plasma contains the globular protein albumin, which is water soluble. It is created in the liver and is crucial for the movement of enzyme, hormone, and bile salt molecules as well as for preserving blood volume. It is frequently offered in recombinant, bovine, and human varieties. They are essential for maintaining the intravascular colloid osmotic pressure (COP) and stopping fluid leakage into the tissue. For the treatment of uncommon diseases, burns, liver disorders, blood loss trauma, and surgical complications, it is frequently used as a blood volumizer. Additionally, it is used to stabilise medicinal medicines, improve surface absorption, and decrease aggregation and oxidation. As a result, albumin is widely used in the production of vaccines, culture media, medicines, and drug delivery systems.
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Global Albumin Market- Segmental assessment
By Type
- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin
The human serum albumin segment is slated to amass notable gains over the anticipated timeline owing to its high efficacy is facilitating drug delivery.
By Application
- Drug Delivery
- Therapeutics
- Culture Media Ingredient
- Vaccine Ingredient
- Other
By End User
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
- Research Institutes
- Others
The pharmaceutical segment is likely to generate significant returns over the stipulated timeframe due to the widespread use of albumin is vaccine development.
Global Albumin Market- Geographical landscape
The primary regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, South America, Europe, and Asia Pacific. Among these, North America presently dominates the market in terms of revenue share. This is attributable to the growing pervasiveness of chronic ailments, increase in the geriatric population base, and rising non-therapeutic applications of albumin.
Meanwhile. Asia Pacific is poised to showcase lucrative expansion trends over 2022-2030 owing to the rapid increase in healthcare expenditure and surge in the elderly population base.
Global Albumin Market- Competitive hierarchy
The prominent players defining the competitive terrain of this business vertical are Albumedix Ltd., Amgen, Baxalata Incorporated, Baxter International, Inc., Biotest AG, Celgene Corporation (BristolMyers Squibb Company), China Biologic Products, Inc., CSL Behring LLC, Grifols S.A., HiMedia Laboratories, Kedrion S.p.A., Medxbio Pte Ltd., Merck KGaA, Mitsubishi Tanabe Pharma, Novozymes Biotest AG, Octapharma AG, SERACARE LIFE SCIENCES, Sigma-Aldrich Corporation, Takeda Pharmaceutical Company Limited, Thermo Fisher Scientific Inc., Ventria Bioscience Inc., and Others.
Notably, in July 2020, Grifols announced the acquisition of GC Pharma Group to enhance its offerings in the field.
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