The albumin market was valued at $ 5.40 billion in 2022 and is estimated to reach $ 9.90 billion by 2032, exhibiting a CAGR of 6.2% from 2023 to 2032. Albumin is a crucial protein found in the blood plasma, playing a fundamental role in maintaining osmotic pressure and transporting various substances throughout the body. Comprising about 60% of total plasma proteins, albumin is synthesized by the liver and possesses a unique structure that allows it to bind to diverse molecules like hormones, drugs, and nutrients. This versatile protein contributes significantly to fluid balance, preventing excessive leakage of fluids from blood vessels into tissues. In addition, albumin serves as a carrier for essential fatty acids and helps regulate pH levels in the blood. Its multifaceted functions make albumin indispensable for overall physiological well-being.
The factor driving the growth of the albumin market is the increase in global burden of disease conditions such as cardiovascular diseases, cancer, diabetes, and liver disorder. For instance, according to American cancer Society, in 2022, there were approximately 1.9 million new cancer cases diagnosed in the U.S. Albumin, with its versatile applications, plays a crucial role in cancer treatment. It serves as a carrier for oncologic drugs, improving drug solubility and enhancing targeted delivery to cancer cells. Moreover, albumin's use in maintaining fluid balance during chemotherapy underscores its importance in supporting patients. The increasing prevalence of cancer and other diseases globally amplifies the demand for albumin products, illustrating its crucial contributions to addressing multifaceted health concerns.
Furthermore, the growth of the albumin market is propelled by the increasing implementation of key strategies among major industry players, including product launches, acquisitions, and agreements. For instance, in September 2020, Sartorius Group, a leading international partner of life science research and the biopharmaceutical industry, announced acquisition of Albumedix Ltd, a leader in the field of recombinant albumin-based solutions. In addition, 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. These strategic moves not only drive innovation but also foster market growth by catering to the evolving needs of the healthcare and biopharmaceutical industries.
In addition, technological advancements are key drivers of the growing albumin market. In the pharmaceutical and biotechnology sectors, continuous innovations in production processes and purification techniques enhance the efficiency and quality of albumin products. Advanced technologies also contribute to the development of novel albumin-based formulations, expanding their applications in drug delivery systems and diagnostics. Precision in manufacturing, purification, and analysis ensures high-quality albumin with minimal impurities, meeting stringent regulatory standards. In addition, technological progress facilitates the exploration of alternative sources for albumin production, addressing supply chain challenges. The synergy between technology and albumin production not only improves existing products but also fosters the creation of cutting-edge solutions, fueling the overall expansion of the albumin market.
The albumin market is segmented on the basis of type, application, sales channel, and region. On the basis of type, the market is categorized into human serum albumin, bovine serum albumin, and recombinant albumin. On the basis of application, it is classified into therapeutics, drug formulation & vaccines, component of media, and others. On the basis of sales channel, it is classified into business to business (B2B) and business to consumer (B2C). On the basis of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major key players that operate in the global albumin market are Takeda Pharmaceutical Company Limited, Merck KGaA, Sartorius AG, Octapharma AG, Thermo Fisher Scientific Inc., Ventria Bioscience Inc, Grifols, S.A., CSL, China Biologic Products Holdings, Inc, and Lazuline Bio. The players have adopted investment, strategic alliance, product approval, clinical trials, expansion, agreement, and acquisition as the key strategies to expand their product portfolio.
The factor driving the growth of the albumin market is the increase in global burden of disease conditions such as cardiovascular diseases, cancer, diabetes, and liver disorder. For instance, according to American cancer Society, in 2022, there were approximately 1.9 million new cancer cases diagnosed in the U.S. Albumin, with its versatile applications, plays a crucial role in cancer treatment. It serves as a carrier for oncologic drugs, improving drug solubility and enhancing targeted delivery to cancer cells. Moreover, albumin's use in maintaining fluid balance during chemotherapy underscores its importance in supporting patients. The increasing prevalence of cancer and other diseases globally amplifies the demand for albumin products, illustrating its crucial contributions to addressing multifaceted health concerns.
Furthermore, the growth of the albumin market is propelled by the increasing implementation of key strategies among major industry players, including product launches, acquisitions, and agreements. For instance, in September 2020, Sartorius Group, a leading international partner of life science research and the biopharmaceutical industry, announced acquisition of Albumedix Ltd, a leader in the field of recombinant albumin-based solutions. In addition, 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. These strategic moves not only drive innovation but also foster market growth by catering to the evolving needs of the healthcare and biopharmaceutical industries.
In addition, technological advancements are key drivers of the growing albumin market. In the pharmaceutical and biotechnology sectors, continuous innovations in production processes and purification techniques enhance the efficiency and quality of albumin products. Advanced technologies also contribute to the development of novel albumin-based formulations, expanding their applications in drug delivery systems and diagnostics. Precision in manufacturing, purification, and analysis ensures high-quality albumin with minimal impurities, meeting stringent regulatory standards. In addition, technological progress facilitates the exploration of alternative sources for albumin production, addressing supply chain challenges. The synergy between technology and albumin production not only improves existing products but also fosters the creation of cutting-edge solutions, fueling the overall expansion of the albumin market.
The albumin market is segmented on the basis of type, application, sales channel, and region. On the basis of type, the market is categorized into human serum albumin, bovine serum albumin, and recombinant albumin. On the basis of application, it is classified into therapeutics, drug formulation & vaccines, component of media, and others. On the basis of sales channel, it is classified into business to business (B2B) and business to consumer (B2C). On the basis of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major key players that operate in the global albumin market are Takeda Pharmaceutical Company Limited, Merck KGaA, Sartorius AG, Octapharma AG, Thermo Fisher Scientific Inc., Ventria Bioscience Inc, Grifols, S.A., CSL, China Biologic Products Holdings, Inc, and Lazuline Bio. The players have adopted investment, strategic alliance, product approval, clinical trials, expansion, agreement, and acquisition as the key strategies to expand their product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the albumin market analysis from 2022 to 2032 to identify the prevailing albumin market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the albumin market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global albumin market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin
By Application
- Therapeutics
- Drug Formulation and Vaccines
- Component of Media
- Other
By Sales Channel
- B2C
- B2B
- Type
- Pharmaceutical Applications
- Non Pharmaceutical Applications
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Octapharma AG
- Grifols, S.A.
- CSL
- Ventria Bioscience Inc.
- Lazuline Bio
- Takeda Pharmaceutical Company Limited
- Sartorius AG
- Merck KGaA
- Thermo Fisher Scientific Inc.
- China Biologic Products Holdings, Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ALBUMIN MARKET, BY TYPE
CHAPTER 5: ALBUMIN MARKET, BY APPLICATION
CHAPTER 6: ALBUMIN MARKET, BY SALES CHANNEL
CHAPTER 7: ALBUMIN MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Octapharma AG
- Grifols, S.A.
- CSL
- Ventria Bioscience Inc.
- Lazuline Bio
- Takeda Pharmaceutical Company Limited
- Sartorius AG
- Merck KGaA
- Thermo Fisher Scientific Inc.
- China Biologic Products Holdings, Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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