PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1403520
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1403520
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
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
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- 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
- Table 1 Global Albumin Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Albumin Market Outlook, By Product Type (2021-2030) ($MN)
- Table 3 Global Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
- Table 4 Global Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
- Table 5 Global Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
- Table 6 Global Albumin Market Outlook, By Application (2021-2030) ($MN)
- Table 7 Global Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
- Table 8 Global Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
- Table 9 Global Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
- Table 10 Global Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
- Table 11 Global Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
- Table 12 Global Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
- Table 13 Global Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 14 Global Albumin Market Outlook, By End User (2021-2030) ($MN)
- Table 15 Global Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
- Table 16 Global Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 17 Global Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 18 Global Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 19 North America Albumin Market Outlook, By Country (2021-2030) ($MN)
- Table 20 North America Albumin Market Outlook, By Product Type (2021-2030) ($MN)
- Table 21 North America Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
- Table 22 North America Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
- Table 23 North America Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
- Table 24 North America Albumin Market Outlook, By Application (2021-2030) ($MN)
- Table 25 North America Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
- Table 26 North America Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
- Table 27 North America Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
- Table 28 North America Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
- Table 29 North America Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
- Table 30 North America Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
- Table 31 North America Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 32 North America Albumin Market Outlook, By End User (2021-2030) ($MN)
- Table 33 North America Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
- Table 34 North America Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 35 North America Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 36 North America Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 37 Europe Albumin Market Outlook, By Country (2021-2030) ($MN)
- Table 38 Europe Albumin Market Outlook, By Product Type (2021-2030) ($MN)
- Table 39 Europe Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
- Table 40 Europe Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
- Table 41 Europe Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
- Table 42 Europe Albumin Market Outlook, By Application (2021-2030) ($MN)
- Table 43 Europe Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
- Table 44 Europe Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
- Table 45 Europe Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
- Table 46 Europe Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
- Table 47 Europe Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
- Table 48 Europe Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
- Table 49 Europe Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 50 Europe Albumin Market Outlook, By End User (2021-2030) ($MN)
- Table 51 Europe Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
- Table 52 Europe Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 53 Europe Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 54 Europe Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 55 Asia Pacific Albumin Market Outlook, By Country (2021-2030) ($MN)
- Table 56 Asia Pacific Albumin Market Outlook, By Product Type (2021-2030) ($MN)
- Table 57 Asia Pacific Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
- Table 58 Asia Pacific Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
- Table 59 Asia Pacific Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
- Table 60 Asia Pacific Albumin Market Outlook, By Application (2021-2030) ($MN)
- Table 61 Asia Pacific Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
- Table 62 Asia Pacific Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
- Table 63 Asia Pacific Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
- Table 64 Asia Pacific Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
- Table 65 Asia Pacific Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
- Table 66 Asia Pacific Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
- Table 67 Asia Pacific Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 68 Asia Pacific Albumin Market Outlook, By End User (2021-2030) ($MN)
- Table 69 Asia Pacific Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
- Table 70 Asia Pacific Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 71 Asia Pacific Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 72 Asia Pacific Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 73 South America Albumin Market Outlook, By Country (2021-2030) ($MN)
- Table 74 South America Albumin Market Outlook, By Product Type (2021-2030) ($MN)
- Table 75 South America Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
- Table 76 South America Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
- Table 77 South America Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
- Table 78 South America Albumin Market Outlook, By Application (2021-2030) ($MN)
- Table 79 South America Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
- Table 80 South America Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
- Table 81 South America Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
- Table 82 South America Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
- Table 83 South America Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
- Table 84 South America Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
- Table 85 South America Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 86 South America Albumin Market Outlook, By End User (2021-2030) ($MN)
- Table 87 South America Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
- Table 88 South America Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 89 South America Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 90 South America Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 91 Middle East & Africa Albumin Market Outlook, By Country (2021-2030) ($MN)
- Table 92 Middle East & Africa Albumin Market Outlook, By Product Type (2021-2030) ($MN)
- Table 93 Middle East & Africa Albumin Market Outlook, By Bovine Serum Albumin (2021-2030) ($MN)
- Table 94 Middle East & Africa Albumin Market Outlook, By Human Serum Albumin (2021-2030) ($MN)
- Table 95 Middle East & Africa Albumin Market Outlook, By Recombinant Albumin (2021-2030) ($MN)
- Table 96 Middle East & Africa Albumin Market Outlook, By Application (2021-2030) ($MN)
- Table 97 Middle East & Africa Albumin Market Outlook, By Drug Delivery (2021-2030) ($MN)
- Table 98 Middle East & Africa Albumin Market Outlook, By Vaccines (2021-2030) ($MN)
- Table 99 Middle East & Africa Albumin Market Outlook, By Diagnostics (2021-2030) ($MN)
- Table 100 Middle East & Africa Albumin Market Outlook, By In Vitro Fertilization (2021-2030) ($MN)
- Table 101 Middle East & Africa Albumin Market Outlook, By Medical Device Coating (2021-2030) ($MN)
- Table 102 Middle East & Africa Albumin Market Outlook, By Culture Medium & Stabilizer (2021-2030) ($MN)
- Table 103 Middle East & Africa Albumin Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 104 Middle East & Africa Albumin Market Outlook, By End User (2021-2030) ($MN)
- Table 105 Middle East & Africa Albumin Market Outlook, By Research Institutes (2021-2030) ($MN)
- Table 106 Middle East & Africa Albumin Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 107 Middle East & Africa Albumin Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 108 Middle East & Africa Albumin Market Outlook, By Other End Users (2021-2030) ($MN)
