The global Albumin market size was estimated at USD 6.1 billion in 2021 and is expected to surpass around USD 9.1 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 7.0% during the forecast period 2022 to 2030. rise in government support, increase in research funding, technological advancements, improved regulatory framework, and surge in prevalence of chronic liver & kidney diseases are projected to drive the global albumin market during the forecast period
Report Scope of the Albumin Market
Report Coverage |
Details |
Market Size |
USD 9.1 Billion by 2030 |
Growth Rate |
CAGR of 7.0% from 2022 to 2030 |
Largest Market |
North America |
Fastest Growing Market |
Asia Pacific |
Base Year |
2021 |
Forecast Period |
2022 to 2030 |
Segments Covered |
Product Type, Application, End-user And Geography, |
Companies Mentioned |
|
Increase in Use of Albumin as Multifunctional Excipient: Key Driver
Shift toward Use of Recombinant Albumin: Major Driver
High Cost and Expertise Required to Set Up Albumin Production Plants
Rise in Investments for Life Sciences Catalyzing Demand for Albumin
Geographically, North America and Europe are projected to be highly attractive markets for albumin during the forecast period. Rise in investments in life sciences by a large number of biopharmaceutical companies and research institutes is expected to boost the albumin market in these regions throughout the assessment period.
The demand for albumin is high in countries such as India and China. However, the uptake of these therapeutics is low due to the lack of awareness about these products and their therapeutic uses. Hence, awareness programs conducted by healthcare organizations which include International Plasma Awareness Week, to help increase awareness about plasma donation and the different plasma protein therapies available, along with their potential uses are expected to increase the demand for these therapeutics in treating various conditions.
Improvements in Business Flow amid COVID-19 Outbreak Benefitting Manufacturers
Companies in the albumin market are maintaining optimum inventory levels to cater to mission-critical projects in the healthcare industry amid the ongoing coronavirus pandemic. Different regions of the world are showing signs that supply chains are recovering as the production & movement of goods are speeding up. Manufacturers based in the Western Hemisphere have been making significant progress in the past few years to secure themselves against volatility in supply from Asia, China in particular, by moving the bulk production to their respective countries.
Chemically-defined Albumin Holds Promising Potentials for Vaccine Innovation
Companies in the albumin market are launching chemically defined, blood and plant hydrolysate-free cell culture media for vaccine manufacturing that outperforms popular VERO media by enabling robust VERO cell expansion and production of difficult-to-express virus types.
Albumin is being widely used as a versatile drug carrier in systems such as albumin fusion protein, albumin-drug nanoparticles, and pro-drugs. It is used as a drug carrier for the treatment of various diseases such as rheumatoid arthritis, diabetes, cancer, and hepatitis.
It also has the ability to bind to extraordinarily diverse range of molecules, as it provides depository for various compounds. These factors make albumin most suitable to be used as an excipient in vaccine and drug production.
Technological Advancements Help Overcome High Cost Development of Albumin Therapeutics
Increase in usage of albumin as multifunctional excipient, shift toward usage of recombinant albumin, and grant of regulatory approvals are key factors that are driving the albumin market. However, high cost & expertise required to set up production plants and stringent regulatory criteria are restraining the growth rate of the market. Nevertheless, emerging markets such as India, China, Brazil, and South Africa present significant opportunities in the albumin market, owing to growing contract research manufacturing. Such findings are helping stakeholders in the albumin market to diversify their business activities in regions where regulatory standards are comparatively easier to adhere with.
Technological developments in drug formulation & drug delivery and increase in access to technologies such as use of albumin in cell culture media present lucrative opportunities for investors. Hence, investments by manufacturers in these developing markets, increase in contract research manufacturing, and rise in demand & awareness among end users are expected to boost the growth of the albumin market.
High Prevalence of Life-threatening Disorders Augmenting Demand for Albumin
In terms of product, the human serum albumin segment is anticipated to account for major market share of approximately 80%, in terms of revenue, during the forecast period. The growth of the segment can be attributed to the increase in prevalence of life-threatening disorders & conditions, especially liver diseases, infections, and cardiac surgeries leading to hypoalbuminemia. Other factors driving the segment include rise in adoption of albumin products and increase in usage of non-therapeutic applications across the world.
Based on application, drug delivery is expected to be the most attractive segment during the forecast period. Collaboration between pharmaceutical and biotechnology companies for the use of recombinant albumin-based drug delivery systems is likely to propel the growth of the segment. In terms of end-user, the pharmaceutical & biotechnology industry segment is expected to dominate the market throughout the assessment period. The segment was valued at US$ 500 Mn in 2017. Rise in research and developmental (R&D) activities for the development of technologically advanced products and increase in government funding are attributed to the growth of the segment.
Some of the prominent players in the Albumin Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Albumin market
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Benefits for Stakeholders
Chapter 1. Introduction
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Albumin Market
4. Market Overview
4.1. Introduction
4.1.1. Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Albumin Market Analysis and Forecast, 2017–2030
5. Key Insights
5.1. Key Industry Events (mergers, acquisitions, partnerships, etc.)
5.2. Regulatory Scenario by Key Countries
5.3. COVID-19 Pandemic Impact on Industry (value chain and short / mid / long term impact)
6. Global Albumin Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product, 2017–2030
6.3.1. Human Serum Albumin
6.3.2. Recombinant Albumin
6.4. Market Attractiveness Analysis, by Product
7. Global Albumin Market Analysis and Forecasts, by Application
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Application, 2017–2030
7.3.1. Human Serum Albumin Applications
7.3.1.1. Drug Formulation
7.3.1.2. Drug Delivery
7.3.1.3. Vaccines
7.3.1.4. Medical Device Coating
7.3.1.5. Culture Media & Stabilizers
7.3.1.6. Diagnostics
7.3.1.7. In Vitro Fertilization
7.3.2. Recombinant Albumin Applications
7.3.2.1. Drug Formulation
7.3.2.2. Drug Delivery
7.3.2.3. Vaccines
7.3.2.4. Medical Device Coating
7.3.2.5. Culture Media & Stabilizers
7.3.2.6. Diagnostics
7.3.2.7. In Vitro Fertilization
8. Global Albumin Market Analysis and Forecast, by End-user
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Market Value Forecast, by End-user, 2017–2030
8.3.1. Pharmaceutical & Biotechnology Companies
8.3.2. Research Institutes
8.3.3. Others
8.4. Market Attractiveness Analysis, by End-user
9. Global Albumin Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Market Value Forecast, by Region
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Market Attractiveness Analysis, by Region
10. North America Albumin Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Product, 2017–2030
10.2.1. Human Serum Albumin
10.2.2. Recombinant Albumin
10.3. Market Value Forecast, by Application, 2017–2030
10.3.1. Human Serum Albumin Applications
10.3.1.1. Drug Formulation
10.3.1.2. Drug Delivery
10.3.1.3. Vaccines
10.3.1.4. Medical Device Coating
10.3.1.5. Culture Media & Stabilizers
10.3.1.6. Diagnostics
10.3.1.7. In Vitro Fertilization
10.3.2. Recombinant Albumin Applications
10.3.2.1. Drug Formulation
10.3.2.2. Drug Delivery
10.3.2.3. Vaccines
10.3.2.4. Medical Device Coating
10.3.2.5. Culture Media & Stabilizers
10.3.2.6. Diagnostics
10.3.2.7. In Vitro Fertilization
10.4. Market Value Forecast, by End-user, 2017–2030
10.4.1. Pharmaceutical & Biotechnology Companies
10.4.2. Research Institutes
10.4.3. Others
10.5. Market Value Forecast, by Country, 2017–2030
10.5.1. U.S.
10.5.2. Canada
10.6. Market Attractiveness Analysis
10.6.1. By Product
10.6.2. By Application
10.6.3. By End-user
10.6.4. By Country
11. Europe Albumin Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Product, 2017–2030
11.2.1. Human Serum Albumin
11.2.2. Recombinant Albumin
11.3. Market Value Forecast, by Application, 2017–2030
11.3.1. Human Serum Albumin Applications
11.3.1.1. Drug Formulation
11.3.1.2. Drug Delivery
11.3.1.3. Vaccines
11.3.1.4. Medical Device Coating
11.3.1.5. Culture Media & Stabilizers
11.3.1.6. Diagnostics
11.3.1.7. In Vitro Fertilization
11.3.2. Recombinant Albumin Applications
11.3.2.1. Drug Formulation
11.3.2.2. Drug Delivery
11.3.2.3. Vaccines
11.3.2.4. Medical Device Coating
11.3.2.5. Culture Media & Stabilizers
11.3.2.6. Diagnostics
11.3.2.7. In Vitro Fertilization
11.4. Market Value Forecast, by End-user, 2017–2030
11.4.1. Pharmaceutical & Biotechnology Companies
11.4.2. Research Institutes
11.4.3. Others
11.5. Market Value Forecast, by Country/Sub-region, 2017–2030
11.5.1. Germany
11.5.2. U.K.
11.5.3. France
11.5.4. Italy
11.5.5. Spain
11.5.6. Rest of Europe
11.6. Market Attractiveness Analysis
11.6.1. By Product
11.6.2. By End-user
11.6.3. By Country/Sub-region
12. Asia Pacific Albumin Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Product, 2017–2030
12.2.1. Human Serum Albumin
12.2.2. Recombinant Albumin
12.3. Market Value Forecast by Application, 2017–2030
12.3.1. Human Serum Albumin Applications
12.3.1.1. Drug Formulation
12.3.1.2. Drug Delivery
12.3.1.3. Vaccines
12.3.1.4. Medical Device Coating
12.3.1.5. Culture Media & Stabilizers
12.3.1.6. Diagnostics
12.3.1.7. In Vitro Fertilization
12.3.2. Recombinant Albumin Applications
12.3.2.1. Drug Formulation
12.3.2.2. Drug Delivery
12.3.2.3. Vaccines
12.3.2.4. Medical Device Coating
12.3.2.5. Culture Media & Stabilizers
12.3.2.6. Diagnostics
12.3.2.7. In Vitro Fertilization
12.4. Market Value Forecast, by Product, 2017–2030
12.4.1. Pharmaceutical & Biotechnology Companies
12.4.2. Research Institutes
12.4.3. Others
12.5. Market Value Forecast, by Country/Sub-region, 2017–2030
12.5.1. China
12.5.2. Japan
12.5.3. South Korea
12.5.4. India
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia Pacific
12.6. Market Attractiveness Analysis
12.6.1. By Product
12.6.2. By Application
12.6.3. By End-user
12.6.4. By Country/Sub-region
13. Latin America Albumin Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Product, 2017–2030
13.2.1. Human Serum Albumin
13.2.2. Recombinant Albumin
13.3. Market Value Forecast by Application, 2017–2030
13.3.1. Human Serum Albumin Applications
13.3.1.1. Drug Formulation
13.3.1.2. Drug Delivery
13.3.1.3. Vaccines
13.3.1.4. Medical Device Coating
13.3.1.5. Culture Media & Stabilizers
13.3.1.6. Diagnostics
13.3.1.7. In Vitro Fertilization
13.3.2. Recombinant Albumin Applications
13.3.2.1. Drug Formulation
13.3.3. Drug Delivery
13.3.3.1. Vaccines
13.3.3.2. Medical Device Coating
13.3.3.3. Culture Media & Stabilizers
13.3.3.4. Diagnostics
13.3.3.5. In Vitro Fertilization
13.4. Market Value Forecast, by End-user, 2017–2030
13.4.1. Pharmaceutical & Biotechnology Companies
13.4.2. Research Institutes
13.4.3. Others
13.5. Market Value Forecast, by Country/Sub-region, 2017–2030
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Market Attractiveness Analysis
13.6.1. By Product
13.6.2. By Application
13.6.3. By End-user
13.6.4. By Country/Sub-region
14. Middle East & Africa Albumin Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Market Value Forecast, by Product, 2017–2030
14.2.1. Human Serum Albumin
14.2.2. Recombinant Albumin
14.3. Market Value Forecast, by End-user, 2017–2030
14.3.1. Pharmaceutical & Biotechnology Companies
14.3.2. Research Institutes
14.3.3. Others
14.4. Market Value Forecast, by Country/Sub-region, 2017–2030
14.4.1. GCC Countries
14.4.2. South Africa
14.4.3. Rest of Middle East & Africa
14.5. Market Attractiveness Analysis
14.5.1. By Product
14.5.2. By Application
14.5.3. By End-user
14.5.4. By Country/Sub-region
15. Competition Landscape
15.1. Market Player - Competition Matrix (by tier and size of companies)
15.2. Market Share Analysis, by Company, 2020
15.3. Company Profiles
15.3.1. Albumedix A/S
15.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.1.2. Financial Analysis
15.3.1.3. Growth Strategies
15.3.1.4. SWOT Analysis
15.3.2. Albumin Therapeutics, LLC
15.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.2.2. Financial Analysis
15.3.2.3. Growth Strategies
15.3.2.4. SWOT Analysis
15.3.3. Biotest AG
15.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.3.2. Financial Analysis
15.3.3.3. Growth Strategies
15.3.3.4. SWOT Analysis
15.3.4. CSL Behring LLC
15.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.4.2. Financial Analysis
15.3.4.3. Growth Strategies
15.3.4.4. SWOT Analysis
15.3.5. Grifols International, S.A.
15.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.5.2. Financial Analysis
15.3.5.3. Growth Strategies
15.3.5.4. SWOT Analysis
15.3.6. HiMedia Laboratories Pvt. Ltd.
15.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.6.2. Financial Analysis
15.3.6.3. Growth Strategies
15.3.6.4. SWOT Analysis
15.3.7. InVitria
15.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.7.2. Financial Analysis
15.3.7.3. Growth Strategies
15.3.7.4. SWOT Analysis
15.3.8. Medxbio Pte Ltd.
15.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.8.2. Financial Analysis
15.3.8.3. Growth Strategies
15.3.8.4. SWOT Analysis
15.3.9. Octapharma AG
15.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.9.2. Financial Analysis
15.3.9.3. Growth Strategies
15.3.9.4. SWOT Analysis
15.3.10. RayBiotech, Inc.
15.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.10.2. Financial Analysis
15.3.10.3. Growth Strategies
15.3.10.4. SWOT Analysis
15.3.11. Seracare Life Sciences (LGC)
15.3.11.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.11.2. Financial Analysis
15.3.11.3. Growth Strategies
15.3.11.4. SWOT Analysis
15.3.11.5. SWOT Analysis
15.3.12. Sigma-Aldrich Co. (Merck KGaA)
15.3.12.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.12.2. Financial Analysis
15.3.12.3. Growth Strategies
15.3.12.4. SWOT Analysis
15.3.13. Takeda Pharmaceutical Company Limited (Shire)
15.3.13.1. Company Overview (HQ, Business Segments, Employee Strength)
15.3.13.2. Financial Analysis
15.3.13.3. Growth Strategies
15.3.13.4. SWOT Analysis