Global Albumin Market by Type (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin), by Application (Drug Delivery, Therapeutics, Culture Media Ingredient, Vaccine Ingredient, and Others), by End User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Research Institutes, and Others), by Geography, Forecasts and Industry Outlook 2023 - 2032

Global Albumin Market- Description
Albumin is referred to as a type of naturally occurring protein secreted by the liver. This component is found in the blood plasma and it enters into the blood stream to prevent fluid leakage in tissues and blood vessels. Albumin is further equipped with the ability to transport pivotal elements such as enzymes, hormones, and vitamins throughout the human body. These proteins are generally water-soluble in nature and are also known for experiencing heat degeneration.

Global Albumin Market- Overview
The global albumin market was worth USD 0.81 billion in 2021 and is poised to accumulate a valuation of USD 1.7 billion by 2030, registering a CAGR of 6.3% over the forecast duration of 2022-2030. The growing prevalence of liver disorders and rising usage of albumin during vaccine production are primarily augmenting the outlook of this marketplace.
Additionally, increasing R&D activities in the field along with the surging usage of albumin induced injections during bypass surgeries are creating lucrative opportunities for the industry sphere to prosper.
Also, rapid emergence of plant-based albumin components, increase in plasma collection activities, and growing immunoglobulin production across the globe are adding momentum to the expansion of this business sphere.

Moreover, increasing cognizance regarding the benefits of this protein type and growing focus of market players to develop new products in the field are stimulating the overall market dynamics.
On the contrary, stringent regulations pertaining to albumin use and adverse health effects caused by the component are hindering the remuneration scope of this industry sphere.

Global Albumin Market- Key trends
Efficacy of albumin as a multifunctional excipient to bolster industry development
Albumin is a type of protein that offers various health based and commercial advantages. The efficacy of this component in regulating blood osmotic pressure is one of the major factors driving market growth. Moreover, it also prevents protein aggregation during their manufacture and transportation. Its high usage as a drug carrier during the treatment of ailments such as cancer, hepatitis, and diabetes is further adding traction to the industry expansion.

Usage of albumin during vaccine production to augment industry outlook
There has been a widespread adoption of albumin during the development of various vaccines. This is powered by the ability of this protein to prevent surface adsorption and check shear stress during the production process. Also, albumin is known to provide thermal stability to the developed vaccine samples. These factors are creating an upward trend for the market progression.

Global Albumin Market- Segmental assessment
By Type
• Human Serum Albumin
• Bovine Serum Albumin
• Recombinant Albumin
The human serum albumin segment is slated to amass notable gains over the anticipated timeline owing to its high efficacy is facilitating drug delivery.

By Application
• Drug Delivery
• Therapeutics
• Culture Media Ingredient
• Vaccine Ingredient
• Others

By End User
• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Research Institutes
• Others
The pharmaceutical segment is likely to generate significant returns over the stipulated timeframe due to the widespread use of albumin is vaccine development.

Global Albumin Market- Geographical landscape
The primary regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, South America, Europe, and Asia Pacific. Among these, North America presently dominates the market in terms of revenue share. This is attributable to the growing pervasiveness of chronic ailments, increase in the geriatric population base, and rising non-therapeutic applications of albumin.
Meanwhile. Asia Pacific is poised to showcase lucrative expansion trends over 2022-2030 owing to the rapid increase in healthcare expenditure and surge in the elderly population base.

Global Albumin Market- Competitive hierarchy
The prominent players defining the competitive terrain of this business vertical are Albumedix Ltd., Amgen, Baxalata Incorporated, Baxter International, Inc., Biotest AG, Celgene Corporation (BristolMyers Squibb Company), China Biologic Products, Inc., CSL Behring LLC, Grifols S.A., HiMedia Laboratories, Kedrion S.p.A., Medxbio Pte Ltd., Merck KGaA, Mitsubishi Tanabe Pharma, Novozymes Biotest AG, Octapharma AG, SERACARE LIFE SCIENCES, Sigma-Aldrich Corporation, Takeda Pharmaceutical Company Limited, Thermo Fisher Scientific Inc., Ventria Bioscience Inc., and Others.
Notably, in July 2020, Grifols announced the acquisition of GC Pharma Group to enhance its offerings in the field.

Report scope
Global Albumin Market: Historical Years- 2018-2021
Global Albumin Market: Forecast Years- 2022-2030
Global Albumin Market 2021- USD 0.81 billion
Global Albumin Market 2030- USD 1.7 billion
Global Albumin Market CAGR-6.3%

Major segments reported-
• By Type (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin)
• By Application (Drug Delivery, Therapeutics, Culture Media Ingredient, Vaccine Ingredient, and Others)
• By End User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Research Institutes, and Others)

Key regions and countries
• North America (U.S., Canada, and Mexico)
• Latin America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)

Top players profiled-Albumedix Ltd., Amgen, Baxalata Incorporated, Baxter International, Inc., Biotest AG, Celgene Corporation (BristolMyers Squibb Company), China Biologic Products, Inc., CSL Behring LLC, Grifols S.A., HiMedia Laboratories, Kedrion S.p.A., Medxbio Pte Ltd., Merck KGaA, Mitsubishi Tanabe Pharma, Novozymes Biotest AG, Octapharma AG, SERACARE LIFE SCIENCES, Sigma-Aldrich Corporation, Takeda Pharmaceutical Company Limited, Thermo Fisher Scientific Inc., Ventria Bioscience Inc., and Others

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