Albumin is the most common protein present in human plasma and provides with proteins that are needed for growth and repair tissues. Low level of albumin indicates a problem with the kidney or liver. There are 3 types of albumin, i.e, human serum albumin, Bovine serum albmin and recombinant albumin. The human albumin is prescribed to patients with low blood volume which is known as hypovolemia, acute respiratory distress syndrome, nephrosis, renal dialysis, acute liver failure, cardiopulmonary bypass surgery, burns and hypoalbuminemia.
These large applications of albumin is expected to drive the growth of the albumin market globally during the forecast period.
The Covid-19 may have led to a significant slowing down in the production and manufacturing of various pharmaceutical companies in the initial months after its breakout, which may have slowed the market. However, the gradual reopening of the economies around the world is expected to have to have a positive impact on the albumin market.
Albumin Market: Drivers and Restraints
The rise in prevalence of life-threatening conditions worldwide, especially liver diseases, cardiac surgeries, infections that lead to hypoalbuminemia may drive the growth of albumin market. Rise in demand for albumin in R&D activities may also propel the growth of albumin market. Additionally, the rising production of immunoglobulin and increasing plasma collection may also contribute towards the growth of the albumin market. Moreover, the cost effective therapeutics and large scale production of albumin and increasing potential in untapped market in emerging economies may provide lucrative growth opportunities in the albumin market.
However, the adverse reactions and the rising shift towards serum-free solutions may hamper the growth of albumin market. The use of albumin alternatives in replacement therapies and other applications may restrict the growth of the albumin market.
Albumin Market: Segmentation
Tentatively, the global albumin market has been segmented on the basis of type, application and region.
Based on type, the global albumin market is segmented as:
Based on application, the global albumin market is segmented as:
Based on end user, the global albumin market is segmented into:
Albumin Market: Overview
Albumin market is expected to experience steady growth during the forecast period due to the rising awareness about the benefits of albumin as an excipient, which is in turn boosting it’s demand.
The human serum albumin is expected to continue have the dominant share during the forecast period due to its increased usage in the pharmaceutical preparations, such as drug formulation and vaccines and in cell culture media. This segment is also expected to grow due to its huge usage to treat shocks, burns and blood loss. However, the recombinant albumin may also experience significant growth due to its large acceptance as an excipient in drug delivery.
The drug delivery segment is expected to continue to grow during the forecast period as human serum albumin nanoparticles is a favored drug delivery system and has applications for a wide range of diseases driving its growth across the globe.
Pharmaceutical & biotechnological companies are expected to dominate the end user segment due to albumin’s application in the production of various drugs.
Albumin Market: Regional-Wise Outlook
Geographically, the albumin market is segmented into seven regions viz. Europe, South Asia, East Asia, Oceania, Latin America, North America and Middle East & Africa. The North America and Europe are expected to be extremely appealing markets for albumin as excipient in the coming years.
South Asia is anticipated to experience fastest growth and may also dominate the global albumin market during the forecast period. Increase in use of albumin for the treatment of diseases and the presence of a high patient pool are factors that are expected to drive the growth of the market in this region. Increased R&D activities may lead to significant growth in East Asia.
In the Middle East and Africa the market growth is expected to be limited due to lack of awareness, limited access and availability of treatment facilities, slow economic growth and underdeveloped infrastructure.
Albumin Market: Key players
Some of the players identified in the albumin market includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis of the albumin market report includes
Albumin market Report Highlights: