Albumin is globular protein found in blood plasma. Serum albumin is the most abundant plasma protein, constituting around 50% of human plasma protein. Albumin is obtained from plasma fractionation process where human serum albumin and bovine serum albumin is most widely used. Recombinant albumin is produced using recombinant techniques in rice plants, yeast species, and other cell lines. Albumin is used as blood volumizer and is employed in the treatment of various diseases including surgical blood loss, shock, burns, trauma, chronic liver disease, hypovolemia, hemorrhage, acute liver failure, hypoalbuminemia, and acute respiratory distress syndrome.
The global albumin market was valued at $5,381 million in 2016, and is projected to reach $10,305 million at a CAGR of 9.6% from 2017 to 2023. Increase in prevalence of rare diseases, shocks, trauma, burns, and other fatalities is the major factor that contributes toward the growth of the albumin market. Moreover, other factors that fuel the market growth include increase in adoption of albumin products, growth in awareness about recombinant albumin products, and rise in non-therapeutic application of albumin as an excipient and drug formulating agent. However, stringent governmental regulations and risks of side effects associated with the use of albumin-based therapy impede the market growth. Conversely, development of cost-effective therapeutics through large scale production and high market potential in untapped emerging economies are expected to provide lucrative growth opportunities for the market.
The global albumin market is segmented into product, application, and region. Based on product, the market is divided into human serum albumin, bovine serum albumin, and recombinant albumin. The applications covered in the study include therapeutics, drug formulation & vaccine, component of media, and other applications. Based on region, it is analyzed for North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global albumin market with current trends and future estimations from 2016 to 2023 to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Key market segments:
Human Serum Albumin
Bovine Serum Albumin
Drug Formulation & Vaccine
Component of Media
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
China Biologic Products, Inc.
Thermo Fisher Scientific
Baxter International Inc.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
Medxbio Pte Ltd
Mitsubishi Tanabe Pharma Corporation
Kedrion Biopharma, Inc.
HiMedia Leading BioSciences Company