Global Albumin Market: Overview
Albumin is a plasma protein produced in liver, it is a water soluble globular protein contributes 50% to 60% of blood plasma proteins. Albumin acts as a blood volume controlling factor, maintaining the oncotic pressure, beside which it also plays an important role in transport of certain ions, bile salts, hormones, etc. Albumin is derived from plasma fractionation process, commonly used serum albumins are human serum albumins and bovine serum albumins. With technological development, recombinant albumins are produced using recombinant techniques in rice plants, yeast species, and other cell lines. The array of albumin applications vary as per the type of albumin and its features. Recombinant albumin has found its application in areas such as excipients for drug delivery and production, reagent in life sciences procedures such as blotting, etc. Bovine serum albumin is widely used as a component of cell culture media and other procedures in life sciences.
Global Albumin Market: Drivers and Restraints
Human Serum albumin is widely used as blood volumizer to maintain the oncotic pressure and blood volume in chronic diseases, rare blood conditions, certain liver diseases, transfusion therapies, burns, shocks and other hypovolemic conditions. With increase in prevalence of rare diseases, incidences of shocks, trauma and other fatalities, demand for human serum albumin is projected to grow during the forecast period. High acceptance of albumin as an excipient in drug delivery and vaccines production is projected to drive albumin market contributed by rise in demand for biologics and vaccines. Scarcity of plasma for fractionation is a major concern among the industry players which is anticipated to hamper growth for albumin market. Moreover use of alternatives to albumin in replacement therapies, and other medical applications is expected to restrain the growth for albumin market.
Global Albumin Market: Segmentation
Global albumin market has been segmented based on type of albumin, application and geography. Based on product type, the market has been segmented into human serum albumin, bovine serum albumin and recombinant albumin. Among these human serum albumin segment is expected to dominate the market owing to high demand as blood volumizer in emerging markets. While recombinant albumin usage in life sciences and drug delivery and vaccines is projected to grow driving the growth for albumin market. Ethical issues over use bovine fetus for extracting bovine serum for albumin production, and concerns over contamination and impurities are anticipated to hamper growth for bovine serum albumin during forecast period from 2017 to 2025.
Based on application, global albumin market is segmented into blood volumizer, drug delivery & vaccines, life sciences and others. With rising prevalence’s of rare and chronic diseases coupled with growing numbers of surgeries and replacement therapies, consumption of human serum albumin as blood volumizer is expected to rise. Recombinant albumin and bovine serum albumin usage in drug delivery and vaccines production is projected to grow with increasing demand for biologics and vaccines. Albumin is also used in areas such as medical imaging, nuclear medicine and other area, the others application segment is estimated to have moderate growth during the forecasted period.
Based on geography, global albumin market is segmented into North America, Europe, Asia Pacific and rest of the World. Asia Pacific region contributed largest share in global albumin market and is projected to dominate during the forecast period from 2017 to 2025. High demand for human serum album in from emerging markets like China and India is projected to propel this growth. With well-established pharmaceutical and biotechnology industry in North America region demand for recombinant albumin in drug delivery & vaccines and life sciences is projected to grow. With presence of large players in Europe in plasma proteins industry the albumin market in Europe is projected to have prominent growth during the forecast period from 2017 to 2025.
Global Albumin Market: Competitive Analysis
The report also profiles major players in the market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include CSL Behring LLC, Grifols International, S.A., Octapharma AG, Sigma-Aldrich Co. LLC., HiMedia Laboratories Pvt. Ltd., InVitria, Thermo Fisher Scientific Inc., Mitsubishi Tanabe Pharma Corporation, and MedxBio Pte. Ltd.
The global albumin market has been segmented as follows:
Global Albumin Market, by Product Type
- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin
Global Albumin Market, by Application
- Blood volumizer
- Drug Formulation and Vaccines
- Life Sciences
Global Albumin Market, by Region
- North America
- Asia Pacific
- Rest of the World