Albumin Market
Albumin Market Forecasts to 2030 - Global Analysis By Product Type (Bovine Serum Albumin, Human Serum Albumin and Recombinant Albumin), Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $6.5 BN |
|
Projected Year Value (2030) |
US $10.3 BN |
|
CAGR (2023 - 2030) |
6.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Albumin Market is accounted for $6.5 billion in 2023 and is expected to reach $10.3 billion by 2030 growing at a CAGR of 6.7% during the forecast period. A necessary protein produced by the liver, albumin is present in blood plasma. It is essential to many physiological processes that occur in the human body. As a carrier protein, albumin moves different materials throughout the circulation, including vitamins, fatty acids, hormones, and medications.
According to the American Cancer Society 2023 Cancer Statistics, about 1.93 million cancer cases are estimated to be reported in 2023 in the United States. The high burden of cancer is expected to augment the demand for HSA, thereby boosting segment growth over the forecast period.
Market Dynamics:
Driver:
Growing aging population
People are increasingly vulnerable as they become older to a variety of health problems, including chronic diseases, liver disease, and ailments that need to be treated with medicine. Among elderly persons, hypoalbuminemia a disorder marked by low blood levels of albumin is common. As a result, there is an increased need for therapies and treatments based on albumin to address various medical disorders. Thus the aging population is linked to rising healthcare costs, which in turn makes sophisticated medical treatments like albumin-based therapies more accessible, which fuels market expansion.
Restraint:
Availability of substitute products and alternatives
Price pressure in the albumin market might result from the availability of substitute goods, as businesses aim to maintain their competitiveness. This may lead to lower profit margins or price reductions for goods based on albumin, which would impact revenue streams. Healthcare professionals and patients may choose to use replacement goods or alternatives in place of albumin if they are accepted and show equivalent efficacy. Sales and market expansion may be impacted by this decline in the demand for albumin-based treatments thus hampering the growth of the market.
Opportunity:
Expanding biopharmaceutical industry
Pharmaceutical goods are formulated with albumin to increase the medications' solubility, stability, and bioavailability. It improves the effectiveness of biopharmaceuticals by stabilizing proteins and serving as a medication delivery system. Because albumin is biocompatible and can encapsulate medications, it is frequently used in the development of innovative drug delivery systems, such as those based on nanoparticles. Growing interest in biopharmaceutical R&D leads to alliances and partnerships between albumin suppliers and pharmaceutical firms, which promotes innovation and market expansion.
Threat:
High cost of production
Budget-conscious hospitals, healthcare systems, and providers could be hesitant to spend money on pricey albumin products, which would restrict utilization or make people, choose less costly options. Due to the high manufacturing costs, pharmaceutical businesses or manufacturers who produce albumin may see a decrease in their profit margins. Their capacity to fund R&D and innovation to advance albumin-based therapy may be impacted by this thereby impeding the market.
Covid-19 Impact
In order to treat severe COVID-19 patients, there was an increase in demand for critical care treatments during the early stages of the pandemic, particularly albumin. In several instances, albumin was utilized to replenish lost volume and provide supportive care for patients in severe condition. The pandemic-related resource reallocation and limitations on non-essential research activities may have caused several clinical studies and research projects pertaining to albumin or its possible uses to be postponed or interrupted.
The bovine serum albumin segment is expected to be the largest during the forecast period
The bovine serum albumin segment is estimated to have a lucrative growth, due to larger demands of the research, diagnostics, and biotechnology industries, human serum albumin (HSA) is predominantly employed for therapeutic purposes in the healthcare industry. The marketplaces for bovine serum albumin serve various businesses and serve relatively different goals. The biopharmaceutical and biotechnology sectors both use bovine serum albumin and it is employed in the creation and manufacturing of specific vaccinations, medical devices, and biologic medications thus encouraging the growth of the market.
The diagnostics segment is expected to have the highest CAGR during the forecast period
The diagnostics segment is anticipated to witness the highest CAGR growth during the forecast period, because in order to evaluate health and disease states, a number of clinical tests and assays quantify albumin, a critical biomarker. Serum albumin levels are frequently assessed in blood tests as part of liver function tests or full metabolic panels. Atypical albumin levels may suggest malnourishment, disorders of the liver or kidneys, or other medical conditions. Changes in albumin levels can be used as markers to diagnose certain medical problems in addition to regular blood testing. Thus hypoalbuminemia, or low serum albumin levels, can indicate a number of illnesses, including liver disease, renal problems, malnourishment, and inflammatory diseases.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to the North America's modern medical facilities, long-standing healthcare infrastructure, and high healthcare spending all contribute to the region's significant market position in the worldwide albumin industry. Additionally, strict regulatory frameworks set by health agencies like Health Canada and the U.S. Food and Drug Administration (FDA) govern the albumin market in North America. Adherence to regulatory requirements is crucial for both product approvals and market access boosts the growth of the market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the medical field, albumin particularly human serum albumin (HSA) that is frequently utilized for a range of therapeutic purposes. Albumin is used by the medical systems in the area to treat injuries, liver illnesses, critical care, operations, and other ailments. Moreover, the biopharmaceutical sector has grown significantly in the Asia Pacific area. China and India are becoming as major actors in the biotechnology and pharmaceutical industries, helping to produce and market goods based on albumin.
Key players in the market
Some of the key players profiled in the Albumin Market include Kedrion S.p.A., Lazuline Bio, Albumin Bioscience, Aspira Chemical, ALBUMEDIX, Merck KGaA, Thermo Fisher Scientific Inc., Cyagen Biosciences, CSL Behring (CSL), Takeda Pharmaceutical Company Limited, InVitria, Grifols, S.A., Biorbyt Ltd., Octapharma AG, Akron Biotech, Novozymes AS, China Biologic Products Holdings Inc., Baxter International Inc., Bristol-Myers Squibb Company and Medxbio Pte Ltd
Key Developments:
In December 2023, Aspira Launches with More Than 30 Years of Expertise and Industry Insight in the Outdoor Recreation Space and the company will continue to support and manage ReserveAmerica®, the renowned online marketplace for outdoor recreation activities
In November 2023, KEDPLASMA, a Kedrion Biopharma company and a leader in the US in the collection of high-quality plasma, is proud to announce a comprehensive remodeling initiative aimed at enhancing the experience of its donors and raising the standard of excellence in its collection centers.
In November 2023, Aspira™ announced that it has acquired Mission Management, provider of the Astra and Campground Manager software platforms.
Product Types Covered:
• Bovine Serum Albumin
• Human Serum Albumin
• Recombinant Albumin
Applications Covered:
• Drug Delivery
• Vaccines
• Diagnostics
• In Vitro Fertilization
• Medical Device Coating
• Culture Medium & Stabilizer
• Other Applications
End Users Covered:
• Research Institutes
• Pharmaceutical & Biotechnology Companies
• Hospitals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Albumin Market, By Product Type
5.1 Introduction
5.2 Bovine Serum Albumin
5.3 Human Serum Albumin
5.4 Recombinant Albumin
6 Global Albumin Market, By Application
6.1 Introduction
6.2 Drug Delivery
6.3 Vaccines
6.4 Diagnostics
6.5 In Vitro Fertilization
6.6 Medical Device Coating
6.7 Culture Medium & Stabilizer
6.8 Other Applications
7 Global Albumin Market, By End User
7.1 Introduction
7.2 Research Institutes
7.3 Pharmaceutical & Biotechnology Companies
7.4 Hospitals
7.5 Other End Users
8 Global Albumin Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Kedrion S.p.A.
10.2 Lazuline Bio
10.3 Albumin Bioscience
10.4 Aspira Chemical
10.5 ALBUMEDIX
10.6 Merck KGaA
10.7 Thermo Fisher Scientific Inc.
10.8 Cyagen Biosciences
10.9 CSL Behring (CSL)
10.10 Takeda Pharmaceutical Company Limited
10.11 InVitria
10.12 Grifols, S.A.
10.13 Biorbyt Ltd.
10.14 Octapharma AG
10.15 Akron Biotech
10.16 Novozymes AS
10.17 China Biologic Products Holdings Inc.
10.18 Baxter International Inc.
10.19 Bristol-Myers Squibb Company
10.20 Medxbio Pte Ltd
List of Tables
1 Global Albumin Market Outlook, By Region (2021-2030) ($MN)
2 Global Albumin Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
4 Global Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
5 Global Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
6 Global Albumin Market Outlook, By Application (2021-2030) ($MN)
7 Global Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
8 Global Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
9 Global Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
10 Global Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
11 Global Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
12 Global Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
13 Global Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
14 Global Albumin Market Outlook, By End User (2021-2030) ($MN)
15 Global Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
16 Global Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
17 Global Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
18 Global Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
19 North America Albumin Market Outlook, By Country (2021-2030) ($MN)
20 North America Albumin Market Outlook, By Product Type (2021-2030) ($MN)
21 North America Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
22 North America Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
23 North America Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
24 North America Albumin Market Outlook, By Application (2021-2030) ($MN)
25 North America Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
26 North America Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
27 North America Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
28 North America Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
29 North America Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
30 North America Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
31 North America Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
32 North America Albumin Market Outlook, By End User (2021-2030) ($MN)
33 North America Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
34 North America Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
35 North America Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
36 North America Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
37 Europe Albumin Market Outlook, By Country (2021-2030) ($MN)
38 Europe Albumin Market Outlook, By Product Type (2021-2030) ($MN)
39 Europe Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
40 Europe Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
41 Europe Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
42 Europe Albumin Market Outlook, By Application (2021-2030) ($MN)
43 Europe Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
44 Europe Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
45 Europe Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
46 Europe Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
47 Europe Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
48 Europe Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
49 Europe Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
50 Europe Albumin Market Outlook, By End User (2021-2030) ($MN)
51 Europe Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
52 Europe Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
53 Europe Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
54 Europe Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
55 Asia Pacific Albumin Market Outlook, By Country (2021-2030) ($MN)
56 Asia Pacific Albumin Market Outlook, By Product Type (2021-2030) ($MN)
57 Asia Pacific Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
58 Asia Pacific Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
59 Asia Pacific Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
60 Asia Pacific Albumin Market Outlook, By Application (2021-2030) ($MN)
61 Asia Pacific Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
62 Asia Pacific Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
63 Asia Pacific Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
64 Asia Pacific Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
65 Asia Pacific Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
66 Asia Pacific Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
67 Asia Pacific Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
68 Asia Pacific Albumin Market Outlook, By End User (2021-2030) ($MN)
69 Asia Pacific Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
70 Asia Pacific Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
71 Asia Pacific Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
72 Asia Pacific Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
73 South America Albumin Market Outlook, By Country (2021-2030) ($MN)
74 South America Albumin Market Outlook, By Product Type (2021-2030) ($MN)
75 South America Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
76 South America Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
77 South America Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
78 South America Albumin Market Outlook, By Application (2021-2030) ($MN)
79 South America Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
80 South America Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
81 South America Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
82 South America Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
83 South America Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
84 South America Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
85 South America Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
86 South America Albumin Market Outlook, By End User (2021-2030) ($MN)
87 South America Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
88 South America Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
89 South America Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
90 South America Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
91 Middle East & Africa Albumin Market Outlook, By Country (2021-2030) ($MN)
92 Middle East & Africa Albumin Market Outlook, By Product Type (2021-2030) ($MN)
93 Middle East & Africa Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
94 Middle East & Africa Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
95 Middle East & Africa Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
96 Middle East & Africa Albumin Market Outlook, By Application (2021-2030) ($MN)
97 Middle East & Africa Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
98 Middle East & Africa Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
99 Middle East & Africa Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
100 Middle East & Africa Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
101 Middle East & Africa Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
102 Middle East & Africa Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
103 Middle East & Africa Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
104 Middle East & Africa Albumin Market Outlook, By End User (2021-2030) ($MN)
105 Middle East & Africa Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
106 Middle East & Africa Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
107 Middle East & Africa Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
108 Middle East & Africa Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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