Market Overview:
The Global Albumin Market size is expected to grow from USD 5.57 billion in 2022 to USD 9.48 billion by 2030, at a CAGR of 7.9% during the forecast period (2023-2030).
Albumin is a simple protein present in both, animal and plant physiological fluids and tissues. In humans, it is synthesized in the liver and accounts for 25% of the total proteins synthesized by the liver. After synthesis in the liver, it is released into the bloodstream. It plays many vital roles such as maintenance of appropriate osmotic pressure, binding & transport of various compounds like hormones & drugs in blood, and neutralization of free radicals. Albumin is an important binding protein of plasma constituents that if circulated in free form would be toxic to human health.
Top Key Players in Albumin Market:
Albumedix Ltd. (UK), Albumin Bioscience (US), Biotest AG (Germany), CSL Behring (US), Grifols International SA (Spain), HiMedia Laboratories Pvt. Ltd. (India), InVitria (US), Medxbio Pte. Ltd. (Singapore), MilliporeSigma (US), Octapharma AG (Switzerland), RayBiotech Inc. (Georgia), Seracare Life Sciences Inc. (the US, Akron Biotech (US), Bristol-Myers Squibb Company (US)
Market Dynamics and Factors for the Albumin Market:
Drivers:
Growing in Usage of Albumin as Multifunctional Excipient
Albumin plays an important role in the transportation of serval vital components present in the blood. This characteristic of albumin can be modified for the transportation of vital drugs to the target organs. With the advancement in DNA technology and the growing popularity of recombinant DNA technology, recombinant albumin can be prepared in the laboratory. This recombinant albumin can be utilized in the treatment of hypovolemia, hypoalbuminemia, and others.
Opportunities:
Opportunity in R&D Activities
The rise in the number of individuals suffering from liver disorders has gradually increased over the past few years. Synthesis of albumin takes place in the liver and any liver-related disease may affect the production of the albumin. According to the CDC, an estimated 42,230 individuals in the United States will be diagnosed with primary liver cancer in 2021 and approximately 30,230 deaths may occur due to it. In addition, liver cancer is the sixth most common type of cancer found in the population. Cancer and other liver-related disorders severely affect the production of serum albumin.
Segmentation Analysis of the Albumin Market:
By product, the recombinant albumin segment is predicted to have the highest share of the market in the analysis period. The usage of recombinant albumin can effectively cut costs down the line by enhancing safety, and recombinant albumin tends to offer greater yields and reduced batch-to-batch variability during processing, resulting in smoother and faster development.
By applications, the therapeutics & drug delivery segment is expected to dominate the albumin market over the forecast period. Albumin binds a wide range of substances, in particular lipid-soluble anions.
Regional Analysis of the Albumin Market:
The North American region is forecasted to dominate the albumin market attributed to the rise in the number of people suffering from liver disorders. According to the National Survey on Drug Use and Health (NSDUH) in 2019, among 86,688 liver disease-related deaths, 43.1% were due to alcohol use disorder. It also puts a burden on the economy, as US$ 249 billion was spent on alcohol-related health problems in the USA. More people are getting used to alcohol drinking in this region which has fueled the demand for external dosage of albumin. Moreover, the presence of prominent companies involved in the production of albumin is supporting the growth of the market in this region.
Key Industry Development:
In November 2021, Grifols, a leading global producer of plasma-derived medicines, announced the launch of its latest albumin portfolio innovation, ALBUTEIN FlexBag™ (Albumin [Human] U.S.P.) in 5% and 25% concentrations.
In March 2021, Albumedix Ltd, the chief company that manufactures recombinant human albumin announced that it has partnered with FUJIFILM Wako Pure Chemical Corporation to supply human albumin for Chinese and Japanese markets.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
