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The Albumin Market Size was valued at USD 6.15 billion in 2023, and is expected to reach USD 10.5 billion by 2032, and grow at a CAGR of 6.1% over the forecast period 2024-2032.
The most prevalent protein in blood plasma is albumin. It replenishes lost fluids and helps restore blood volume after wounds, burns, procedures, infections, and liver diseases when taken therapeutically. It aids in the stabilization of medications by reducing aggregation, oxidation, and surface absorption. In therapeutic contexts, several serum albumin types are often employed. Human serum albumin and bovine serum albumin are formed from human plasma and bovine plasma, respectively. The increased frequency of life-threatening illnesses, certain liver diseases, infections, and cardiac procedures that cause hypoalbuminemia, as well as the development of novel albumin products by a significant number of important companies, are the main drivers of the growth of the worldwide albumin market. Increased demand for albumin in research and development activities, growth in non-therapeutic albumin applications, the development of plant-based albumin, increased production of immunoglobulins, and plasma collection are all factors contributing to the albumin market's expansion.
In addition, there has been a rise in the use of albumin injections during cardiopulmonary bypass surgery as well as for treating hypoalbuminemia in patients with severe injuries and pancreatitis. Additionally, throughout the projected period, an increase in product approvals is anticipated to offer lucrative prospects for the growth of the worldwide albumin market.
DRIVERS
Recombinant DNA technology has had a tremendous impact on modern human existence.
Recombinant procedures may be used to safely create necessary components, such as proteins, in the lab. Recombinant DNA technology has proven to be valuable in this industry since it is a technology with a wide range of applications. When researching and creating innovative drugs to treat hypoalbuminemia, hypovolemia, and other disorders, manufacturers frequently use recombinant albumin. Because it safeguards the serum's immunological, biological, and biochemical qualities, the product dominates the R&D market.
RESTRAIN
Even though hypoalbuminemia and hypovolemia are on the rise in different parts of the world, the use of albumin is restricted due to issues like stringent government restrictions and a dearth of therapeutic solutions.
OPPORTUNITY
Integrating nanotechnology and recombinant DNA technology.
Has created new opportunities for the biotechnology industries with the increased use of proteins. Hence, businesses are making significant investments in the market. Moreover, the expansion of the global albumin market has been fuelled by the advancement of novel drugs that have increased sales due to their therapeutic potential against hypoalbuminemia.
CHALLENGES
A negative albumin response.
Despite being rare, some people can become allergic to albumin. These responses can include everything from minor side effects like skin rashes, itching, or hives to more serious ones like tightness in the chest, breathing difficulties, or anaphylaxis. Allergic reactions are more prevalent in those who have known protein allergies, such as those to albumin or other proteins.
Regulation Changes The war may result in modifications to import and export laws in both Russia and Ukraine. These modifications may have an impact on the import and export of albumin goods, which may cause delays or restrict how these items are transported across borders. Market Uncertainty The conflict's associated geopolitical tensions and uncertainty may add to general market volatility. Businesses and investors could take a cautious stance, which might have an effect on plans for market expansion, research and development, and investments in albumin-related goods.
IMPACT OF ONGOING RECESSION
Cost-Conscious In a downturn, efficiency and cost conservation are frequently given more priority. This can prompt medical professionals to look at cheaper alternatives to albumin-based goods or alternative therapies, which might have an effect on albumin demand. Conversely, recessions can also lead to an increase in the prevalence of specific medical disorders or operations. For instance, there can be an increase in trauma cases, burn injuries, or surgeries during economic downturns. The need for albumin as a medication or blood volume expander may increase in such circumstances. Pricing Pressures during a recession may make consumers, especially healthcare providers, more price-sensitive. Because of this, albumin producers and suppliers can experience pricing pressure and need to modify their pricing strategies in order to stay competitive.
By Type
Human Serum Albumin
Recombinant Albumin
Bovine Serum Albumin
By Application
Drug Delivery
Therapeutics
Culture Media Ingredient
Vaccine Ingredient
Others
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
Due to the rising prevalence of serious illnesses like liver and kidney diseases, the presence of major players, the expansion of the healthcare industry, and the introduction of new albumin products, North America commanded the lion's share of the global albumin market in 2020 and is predicted to retain its dominance throughout the forecast period.
From 2022 to 2030, Asia-Pacific is anticipated to see the greatest CAGR of 7.8%, thanks to rising chronic illness prevalence, a rise in surgical procedures that lead to hypoalbuminemia, and the growth of the healthcare sector.
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The major players are Baxter International Inc., China Biologic Products, Inc, CSL Limited, Grifols, S.A., Merck KGaA, Novozymes, Octapharma AG, Takeda Pharmaceuticals Inc., Thermo Fisher Scientific, Ventria Bioscience and others.
Apotex Corp:
The generic form of Abraxane, Paclitaxel protein-bound particles for injection (albumin-bound), was introduced by Apotex Corp. in the US in April 2022.
Bio Products Laboratory:
The National Medical Products Administration (NMPA) for China received a license to commercialize the ALBUMINEX 26% product in China, Bio Products Laboratory (BPL) announced in January 2022.
| Report Attributes | Details |
| Market Size in 2023 | US$ 6.15 Bn |
| Market Size by 2032 | US$ 10.5 Bn |
| CAGR | CAGR of 6.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Human Serum Albumin, Recombinant Albumin, Bovine Serum Albumin) • By Application (Drug Delivery, Therapeutics, Culture Media Ingredient, Vaccine Ingredient, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Baxter International Inc., China Biologic Products, Inc, CSL Limited, Grifols, S.A., Merck KGaA, Novozymes, Octapharma AG, Takeda Pharmaceuticals Inc, Thermo Fisher Scientific, Ventria Bioscience |
| Key Drivers | • Recombinant DNA technology has had a tremendous impact on modern human existence. |
| Market Restraints | • Even though hypoalbuminemia and hypovolemia are on the rise in different parts of the world, the use of albumin is restricted due to issues like stringent government restrictions and a dearth of therapeutic solutions. |
Ans: The CAGR Growth rate of Albumin Market is approx. CAGR 6.1% over the forecast.
Ans: The projected size of Albumin Market was estimated USD 6.15 billion in 2023 and is expected to reach USD 10.5 billion by 2032.
Ans: The major key players are Baxter International Inc., China Biologic Products, Inc, CSL Limited, Grifols, S.A., Merck KGaA, Novozymes, Octapharma AG, Takeda Pharmaceuticals Inc, Thermo Fisher Scientific, Ventria Bioscience and others.
Ans: In 2023, the market will be led by the human category.
Ans: The drug formulation segment holds the largest share in global biggest market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Albumin Market Segmentation, By Type
8.1 Human Serum Albumin
8.2 Recombinant Albumin
8.3 Bovine Serum Albumin
9. Albumin Market Segmentation, By Application
9.1 Drug Delivery
9.2 Therapeutics
9.3 Culture Media Ingredient
9.4 Vaccine Ingredient
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Albumin Market, by Country
10.2.2North America Albumin Market, By Type
10.2.3 North America Albumin Market, By Application
10.2.4 USA
10.2.4.1 USA Albumin Market, By Type
10.2.4.2 USA Albumin Market, By Application
10.2.5 Canada
10.2.5.1 Canada Albumin Market, By Type
10.2.5.2 Canada Albumin Market, By Application
10.2.6 Mexico
10.2.6.1 Mexico Albumin Market By Type
10.2.6.2 Mexico Albumin Market By Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Albumin Market by Country
10.3.1.2 Eastern Europe Albumin Market By Type
10.3.1.3 Eastern Europe Albumin Market By Application
10.3.1.4 Poland
10.3.1.4.1 Poland Albumin Market By Type
10.3.1.4.2 Poland Albumin By Application
10.3.1.5 Romania
10.3.1.5.1 Romania Albumin Market By Type
10.3.1.5.2 Romania Albumin Market By Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Albumin Market By Type
10.3.1.6.2 Hungary Albumin Market By Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Albumin Market By Type
10.3.1.7.2 Turkey Albumin Market By Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Albumin Market By Type
10.3.1.8.2 Rest of Eastern Europe Albumin Market By Application
10.3.2 Western Europe
10.3.2.1 Western Europe Albumin Market by Country
10.3.2.2 Western Europe Albumin Market By Type
10.3.2.3 Western Europe Albumin Market By Application
10.3.2.4 Germany
10.3.2.4.1 Germany Albumin Market By Type
10.3.2.4.2 Germany Albumin Market By Application
10.3.2.5 France
10.3.2.5.1 France Albumin Market By Type
10.3.2.5.2 France Albumin Market By Application
10.3.2.6 UK
10.3.2.6.1 UK Albumin Market By Type
10.3.2.6.2 UK Albumin Market By Application
10.3.2.7 Italy
10.3.2.7.1 Italy Albumin Market By Type
10.3.2.7.2 Italy Albumin Market By Application
10.3.2.8 Spain
10.3.2.8.1 Spain Albumin Market By Type
10.3.2.8.2 Spain Albumin Market By Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Albumin Market By Type
10.3.2.9.2 Netherlands Albumin Market By Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Albumin Market By Type
10.3.2.10.2 Switzerland Albumin Market By Application
10.3.2.11 Austria
10.3.2.11.1 Austria Albumin Market By Type
10.3.2.11.2 Austria Albumin Market By Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Albumin Market By Type
10.3.2.12.2 Rest of Western Europe Albumin Market By Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Albumin Market by Country
10.4.2 Asia Pacific Albumin Market By Type
10.4.3 Asia Pacific Albumin Market By Application By Type
10.4.4 China
10.4.4.1 China Albumin Market By Type
10.4.4.2 China Albumin Market By Application
10.4.5 India
10.4.5.1 India Albumin Market By Type
10.4.5.2 India Albumin Market By Application
10.4.6 Japan
10.4.6.1 Japan Albumin Market By Type
10.4.6.2 Japan Albumin Market By Application
10.4.7 South Korea
10.4.7.1 South Korea Albumin Market By Type
10.4.7.2 South Korea Albumin Market By Application
10.4.8 Vietnam
10.4.8.1 Vietnam Albumin Market By Type
10.4.8.2 Vietnam Albumin Market By Application
10.4.9 Singapore
10.4.9.1 Singapore Albumin Market By Type
10.4.9.2 Singapore Albumin Market By Application
10.4.10 Australia
10.4.10.1 Australia Albumin Market By Type
10.4.10.2 Australia Albumin Market By Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Albumin Market By Type
10.4.11.2 Rest of Asia-Pacific APAC Albumin Market By Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Albumin Market by Country
10.5.1.2 Middle East Albumin Market By Type
10.5.1.3 Middle East Albumin Market By Application
10.5.1.4 UAE
10.5.1.4.1 UAE Albumin Market By Type
10.5.1.4.2 UAE Albumin Market By Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Albumin Market By Type
10.5.1.5.2 Egypt Albumin Market By Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Albumin Market By Type
10.5.1.6.2 Saudi Arabia Albumin Market By Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Albumin Market By Type
10.5.1.7.2 Qatar Albumin Market By Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Albumin Market By Type
10.5.1.8.2 Rest of Middle East Albumin Market By Application
10.5.2 Africa
10.5.2.1 Africa Albumin Market by Country
10.5.2.2 Africa Albumin Market By Type
10.5.2.3 Africa Albumin Market By Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Albumin Market By Type
10.5.2.4.2 Nigeria Albumin Market By Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Albumin Market By Type
10.5.2.5.2 South Africa Albumin Market By Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Albumin Market By Type
10.5.2.6.2 Rest of Africa Albumin Market By Application
10.6 Latin America
10.6.1 Latin America Albumin Market by Country
10.6.2 Latin America Albumin Market By Type
10.6.3 Latin America Albumin Market By Application
10.6.4 Brazil
10.6.4.1 Brazil Albumin Market By Type
10.6.4.2 Brazil Africa Albumin Market By Application
10.6.5 Argentina
10.6.5.1 Argentina Albumin Market By Type
10.6.5.2 Argentina Albumin Market By Application
10.6.6 Colombia
10.6.6.1 Colombia Albumin Market By Type
10.6.6.2 Colombia Albumin Market By Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Albumin Market By Type
10.6.7.2 Rest of Latin America Albumin Market By Application
11. Company Profile
11.1 Baxter International Inc.
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 China Biologic Products, Inc.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 CSL Limited.
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Grifols, S.A.
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Merck KGaA.
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Novozymes.
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Octapharma AG.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Takeda Pharmaceuticals Inc.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Thermo Fisher Scientific.
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Ventria Bioscience
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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