High demand for non-therapeutic applications, and growing preferences for recombinant albumin to support albumin therapies are some of the key factors driving

VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2024 /EINPresswire.com/ -- The global albumin market size was USD 0.88 Billion in 2022 and is expected to register a revenue CAGR of 6.0% during the forecast period. The global albumin market is experiencing robust growth driven by the rising demand for non-therapeutic applications and a growing preference for recombinant albumin in supporting albumin therapies. The market's revenue is also bolstered by the increasing prevalence of rare diseases and various life-threatening conditions.

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Key Drivers of Albumin Market Growth

Albumin in Clinical Applications

Albumin, the primary protein in blood plasma, plays a critical role in clinical settings. It is used to replenish fluids and restore blood volume following trauma, burns, surgeries, infections, and liver diseases. Additionally, albumin helps stabilize drugs by preventing aggregation, oxidation, and surface absorption. Human serum albumin, derived from human plasma, and bovine serum albumin, obtained from bovine plasma, are widely utilized in medical treatments.

Impact on Surgical Procedures

According to the World Health Organization (WHO), approximately 235 million major surgical procedures were conducted globally in 2022. In the United States alone, 1,806,590 new cancer cases were reported in 2022, leading to a significant number of cancer surgeries. These surgeries often result in hypoalbuminemia, a condition expected to drive market revenue growth due to the increased need for albumin therapies.

Addressing Rare Diseases and Life-Threatening Conditions

The rising prevalence of rare diseases and life-threatening conditions is a major factor contributing to the market's revenue growth. The use of albumin injections in cardiopulmonary bypass surgeries and for treating hypoalbuminemia in patients with severe injuries and pancreatitis further supports market expansion. Additionally, an increase in product approvals is anticipated to create lucrative opportunities for market growth in the coming years.

Role in Cellular Therapies and Regenerative Pharmaceuticals

Albumin is essential in the production and delivery of stem cells and various cellular therapies and regenerative pharmaceuticals. It is crucial for the cryopreservation of these therapies, ensuring their integrity during transportation and storage. Human Serum Albumin (HSA) is often used to maintain standardized and consistent media, which is vital for these delicate biological treatments.

Integration in Cellular Therapy Manufacturing Processes

Incorporating albumin at the beginning of cellular therapy manufacturing processes enhances uniformity, quality, and reproducibility. Studies have also shown that albumin can improve Adeno-Associated Virus Vector Transduction (AAVS), increasing its usage and driving market revenue growth.

Challenges and Opportunities in the Albumin Market

While the increase in rare diseases and life-threatening conditions boosts the demand for albumin, stringent government regulations related to albumin product adoption pose challenges to market growth. Nevertheless, innovations by key players and a rising number of product approvals are expected to continue driving market expansion.

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Market Segment Insights

Albumin Product Insights

The global albumin market is segmented into human serum albumin, bovine serum albumin, and recombinant albumin. In 2022, the human serum albumin segment held the largest market share due to its widespread applications in microbial culture media, cellular functions, and hybridoma technology. Meanwhile, recombinant serum albumin is expected to grow at the fastest rate, driven by its increasing use in research and development (R&D) activities and the rising prevalence of life-threatening conditions.

Application Insights

The albumin market is segmented by application into therapeutics, drug formulation and vaccines, and other applications. The therapeutics segment accounted for the largest market share in 2022, owing to the high prevalence of burns, trauma cases, and cardiac disorders. The drug formulation and vaccines segment is anticipated to register the fastest growth due to the increasing number of cancer cases and the superior attributes of albumin-based therapies.

End-Use Insights

The market is also segmented by end-use into pharmaceutical and biotechnology companies, research institutions, and hospitals. Hospitals held the largest market share in 2022 due to the extensive use of albumin in restoring blood volume during shock, trauma, and surgeries, and managing fluid levels and organ function in critical care settings.

Albumin Top Companies and Competitive Landscape

The global albumin market is fairly fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective albumin solutions.

Some major players included in the global albumin market report are:

Merck KGaA

CSL Limited

Grifols S.A. (Grifols International, S.A.)

Baxter International Inc.

China Biologic Products Holdings, Inc.

Takeda Pharmaceuticals

Octapharma AG

Novozymes A/S (Albumedix Ltd.)

Thermo Fisher Scientific Inc (Affymetrix, Inc.)

Ventria Bioscience

Albumin Latest Industry News

In April 2020, Apotex Corp. released its generic version of Abraxane, Paclitaxel protein-bound particles for injection (albumin-bound), which was made available in the US. Adenocarcinoma of the pancreas, non-small cell lung cancer, and metastatic breast cancer are all indicated for treatment with paclitaxel protein-bound particles for injectable suspension.

In May 2020, Bio Products Laboratory (BPL) announced the US launch of ALBUMINEX 5% (human albumin) solution for injection and ALBUMINEX 25% (human albumin) solution for injection. The US and are currently in stock. The US Food and Drug Administration has given the drugs ALBUMINEX 5% and ALBUMINEX 25% approval for the treatment of cardiopulmonary bypass, acute nephrosis, acute respiratory distress syndrome (ARDS), ascites, and hypoalbuminemia, including that resulting from burns.

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Albumin Segment Analysis

For the purpose of this report, Emergen Research has segmented the global albumin market on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Human serum albumin

Bovine serum albumin

Recombinant albumin

Application Outlook (Revenue, USD Billion; 2019-2032)

Therapeutics

Drug formulation & vaccines

Other applications

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Therapeutics

Drug formulation & vaccines

Other applications

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of MEA

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