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2024

Albumin Market

Albumin Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Application, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Healthcare

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Author's: Shraddha Mali | Roshan Deshmukh
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Albumin Market Research, 2032

The global albumin market was valued at $5.4 billion in 2022, and is projected to reach $9.9 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032. The prevalence of diseases and life-threatening conditions such as hypoalbuminemia, burns, trauma, liver cirrhosis, and cardiac surgeries significantly propel the growth of the albumin market. The surge in shock and burn cases is anticipated to drive demand for albumin, particularly as a vital volume expander during burn shock resuscitation and for correcting hypoalbuminemia. According to the World Health Organization (WHO), an alarming statistic reveals that approximately 11 million individuals endure burn wounds annually. This underscores the critical role albumin plays in addressing the medical consequences of such incidents. The market's growth is closely tied to its indispensability in therapeutic interventions, especially in scenarios involving trauma, burns, and shock, highlighting its crucial role in modern healthcare. 

Albumin Market

Albumin Market Study Key Takeaways

  • On the basis of type, the human serum albumin segment dominated the market in terms of revenue in 2022 and is anticipated to grow at fastest CAGR during the forecast period.  
  • On the basis of application, the therapeutics segment dominated the market in terms of revenue in 2022 and is anticipated to grow at fastest CAGR during the forecast period.  
  • On the basis of sales channel, the B2B segment dominated the market in terms of revenue in 2022. However, the B2C segment is anticipated to grow at the fastest CAGR during the forecast period.‐¯ 
  • Region-wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. 

Albumin is a water-soluble protein produced by the liver and found in blood plasma. Comprising about 60% of total plasma proteins, albumin plays a crucial role in maintaining osmotic pressure, transporting various substances such as hormones, drugs, and nutrients. Its molecular structure facilitates binding with a diverse range of molecules. This versatile protein contributes to fluid balance, preventing edema, and supports the transport of essential compounds throughout the body. Clinically, serum albumin levels are often monitored as an indicator of nutritional status and liver function. Overall, albumin is vital for maintaining physiological homeostasis and bodily functions. 

Market Dynamics 

The albumin market is experiencing growth propelled by increasing initiatives aimed at raising awareness about blood donation. As awareness campaigns gain momentum, there is a positive impact on the supply of human plasma, a key source of albumin. Moreover, the rising use of albumin in drug development is contributing to market expansion. Albumin's versatile properties make it a valuable component in pharmaceutical formulations, enhancing drug stability and delivery. The pharmaceutical industry's expanding focus on developing innovative medications further amplifies the demand for albumin. Growing initiatives for blood donation awareness and the surge in utilization of albumin in drug development are major factors that boost market growth. As healthcare awareness increases, so does the recognition of albumin's critical role in both medical treatment and pharmaceutical advancements. 

However, two significant factors that restrain the albumin market growth include high production costs and potential ethical concerns. The intricate and resource-intensive process of extracting and purifying albumin from plasma contributes to elevated production expenses, limiting cost-effectiveness. In addition, ethical considerations surrounding the sourcing of albumin from human plasma or animal blood raise concerns, prompting efforts to explore alternative production methods. These factors pose challenges to market expansion, necessitating innovative solutions to address cost barriers and ethical considerations in the albumin production process.   

During a recession, the albumin market size experiences both negative and positive impacts. On the downside, economic downturns often lead to reduced healthcare spending, affecting the demand for medical products such as albumin. Budget constraints may limit the adoption of albumin in certain medical applications. However, on a positive note, the therapeutic benefits of albumin in treating critical health conditions can create opportunities. The increased focus on cost-effective and efficient healthcare solutions during economic downturns may drive the use of albumin in treating liver diseases, trauma, and surgical interventions. In addition, ongoing research and development efforts may uncover new therapeutic applications for albumin, presenting avenues for market expansion. Despite challenges, the albumin market may find resilience and opportunities amid evolving healthcare needs and priorities during recessionary periods. 

Segmental Overview 

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). 

By Type

On the basis of type, the albumin market is segmented into human serum albumin, bovine serum albumin, and recombinant albumin. The human serum albumin segment accounted for the largest share in 2022 and is also expected to register the fastest CAGR during the forecast period. The widespread and diverse applications of human serum albumin in various medical interventions contribute to its significance. As a crucial component of blood plasma, human serum albumin is extensively utilized in therapeutic treatments such as fluid resuscitation, wound healing, and managing hypoalbuminemia. Its compatibility with the human body and effectiveness in addressing protein deficiencies enhance its prominence in medical applications. The increasing prevalence of conditions necessitating albumin supplementation further fuels the demand for human serum albumin, thereby propelling the growth of this segment. 

Albumin Market by Type

By Application

On the basis of application, the albumin market is segmented into therapeutics, drug formulation & vaccines, component of media, and others. The therapeutics segment dominated the albumin market share in 2022 and is expected to register the fastest CAGR during the forecast period. This dominance can be attributed to the increasing acknowledgment of albumin's therapeutic advantages in a wide range of medical applications. Its pivotal role in addressing critical health issues such as liver diseases, trauma, and surgical procedures, along with its ability to maintain fluid balance, facilitate the transport of essential substances, and alleviate protein deficiencies, underscores its significance in therapeutic treatments. Furthermore, the continuous R&D efforts are consistently uncovering novel therapeutic applications for albumin, contributing to the sustained and growing demand in the market. 

 

Albumin Market by Application

By Sales channel

By sales channel, the albumin market is segmented into business to business (B2B) and business to consumer (B2C). The business to business (B2B) segment dominated the albumin market share in 2022 and is expected to maintain its lead during the forecast period, owing to increased collaborations and partnerships among pharmaceutical and biotech companies. The B2B model facilitates bulk purchases, ensuring a steady supply of albumin for research, manufacturing, and development activities, thus driving market growth. However, the B2C segment is expected to register the fastest CAGR in the forecast period owing to direct sale of products from a business (such as pharmaceutical and biotech companies) to individual consumers or end-users. This approach enhances market accessibility, fosters customer engagement, and potentially leads to increased sales as businesses establish direct connections with end-users in the dynamic albumin market. 

Albumin Market by Sales Channel

 

By Region 

By region, the albumin market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest albumin market size in terms of revenue in 2022 owing to several key factors including growing access to advanced medical technologies and a well-developed network of healthcare facilities. In addition, the growing aging population and high incidence of diseased conditions owing to surgical interventions, contribute to the sustained demand for albumin products. Further, North America is also home to several leading pharmaceutical manufacturers, driving innovation and product availability, making it a pivotal region for albumins' revenue growth. 

 

Albumin Market by Region

However, the Asia-Pacific region is projected to exhibit the highest CAGR in the albumins market during the forecast period. This growth can be attributed to multiple factors, including the rising geriatric population and the increased prevalence of disorders in the region. Furthermore, ongoing enhancements in healthcare infrastructure and a surge in initiatives aimed at raising awareness and facilitating albumin products use are anticipated to drive market expansion in the Asia-Pacific. These factors collectively create a favorable environment for the albumin market opportunity in the region. 

Furthermore, a rise in research activities as well as the well-established presence of domestic companies in the region are expected to provide notable opportunities for market growth. In addition, a rise in contract manufacturing organizations within the region provides is expected to drive the albumin market forecast.   

Competition Analysis 

Competitive analysis and profiles of the major players in the albumins market such as major players that operate in the market include 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 Albumin Bioscience. The players have adopted product launch, agreement, acquisition, investment, and expansion as the key strategies to expand their product portfolio. 

Recent Developments in the Albumin Industry

  • In March 2021, Albumedix, a part of Sartorious announced that they have entered into a distribution agreement with established and well recognized reagent supplier FUJIFILM Wako in Japan and China. Under the terms and conditions of the agreement, FUJIFILM Wako is expected to act as a commercialization partner and distributor of Albumedix' recombinant human albumin products, including joint marketing efforts in Japan and China. 
  • In July 2021, Grifols, a global leader in the production of plasma-derived medicines announced a collaboration agreement with the U.S. firm ImmunoTek Bio Centers LLC, specialized in the opening and construction of plasma centers via strategic accords and contracts with healthcare companies. Through this accord, Grifols is expected to accelerate the execution of its expansion plan and bolster its integrated network of plasma centers. 
  • In November 2021, 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. 
  • In September 2021, Sartorius to expand Business Operations in North America. Sartorius, a leading international partner of life science research and the biopharmaceutical industry, is expanding its presence in Michigan. Sartorius is projected to open a new 130,000-square-foot (12,000-square-meter) state-of-the art plant in Ann Arbor in late 2023. 

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 industry 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 albumin industry .
  • 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.

Albumin Market Report Highlights

Aspects Details
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Market Size By 2032

USD 9.9 billion

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Growth Rate

CAGR of 6.2%

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Forecast period

2022 - 2032

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Report Pages

287

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By Type
  • Human Serum Albumin
  • Bovine Serum Albumin
  • Recombinant Albumin
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By Application
  • Therapeutics
  • Drug Formulation and Vaccines
  • Component of Media
  • Other
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By Sales Channel
  • B2C
  • B2B
    • Type
      • Pharmaceutical Applications
        • Type
          • Vaccine Development
          • Drug Formulation and Delivery
          • Others
      • Non Pharmaceutical Applications
        • Type
          • Research and Development
          • Diagnostics
          • Others
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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)
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Key Market Players

Sartorius AG, Lazuline Bio, Merck KGaA, China Biologic Products Holdings, Inc, CSL, Grifols, S.A., Takeda Pharmaceutical Company Limited, Octapharma AG, Ventria Bioscience Inc., Thermo Fisher Scientific Inc. 

Analyst Review

This section provides various opinions of top-level CXOs in the global albumin market. According to the insights of CXOs, albumin is obtained by fractionation from the plasma of humans and animals and the rise in number of blood donations carried out is expected to offer profitable opportunities for the expansion of the market.  

CXOs further added that, factors such as a surge in the elderly population, an increase in the prevalence of cardiovascular and other conditions necessitating surgical procedures, and a rise in adoption of albumin by professionals in hospitals and clinics. In addition, the active involvement of major industry players in advancing technology and conducting R&D for albumin products serves as a catalyst for market expansion. These combined factors create a conducive environment for the sustained growth of the albumin market in the foreseeable future. 

North America has the highest market share in 2022 and is expected to maintain its lead during the forecast period, owing to the availability of improved facilities and rise in adoption of albumin by healthcare professionals. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to the high population base, rise in prevalence of diseases, and the surge in healthcare expenditure.
 

Author Name(s) : Shraddha Mali | Roshan Deshmukh
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Frequently Asked Questions?

Albumin is a vital water-soluble protein synthesized by the liver, constituting a significant portion of blood plasma. With multiple functions, including maintaining osmotic pressure and transporting substances, it plays a crucial role in various physiological processes within the human body.

The major factor that fuels the growth of the albumin market are rise in number of surgical procedures ,growing awareness regarding blood donations and rise in use of plasma derived albumin in drug development drive the growth of the global albumin market .

The human serum albumin segment is the most influencing segment in albumin market owing to the widespread use and diverse applications of human serum albumin in various medical interventions. As a critical component of blood plasma, human serum albumin finds extensive utilization in therapeutic treatments, including fluid resuscitation, wound healing, and the management of hypoalbuminemia.

Top companies such as Thermo Fisher Scientific Inc., Merck KGaA, Grifols, S.A., and CSL held a high market position in 2022. These key players held a high market postion owing to the strong geographical foothold in North America, Europe, Asia-Pacific, and LAMEA.

The base year is 2022 in albumin market .

The market value of albumin market in 2032 is $9,905.02 million

The forecast period for albumin market is 2023 to 2032

The total market value of albumin market is $5,401.68 million in 2022.

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Albumin Market

Global Opportunity Analysis and Industry Forecast, 2023-2032