Market Overview:

The global albumin market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.05% during 2023-2028.

Albumin is a water-soluble globular protein present in blood plasma. It is synthesized in the liver and is essential for maintaining the blood volume and transportation of enzyme, hormone and bile salt molecules. It is commonly available in human, bovine and recombinant variants. They are crucial for sustaining the intravascular colloid osmotic pressure (COP) and preventing leakage of fluids into the tissue. It is commonly used as a blood volumizer for the treatment of rare diseases, burns, liver disorders, blood loss trauma and surgical complications. It is also utilized in pharmaceutical drugs for stabilization, enhancing surface absorption and reducing aggregation and oxidation. As a result, albumin finds extensive application in the manufacturing of drug delivery systems, therapeutics, culture media and vaccines.

Albumin Market Trends:

The increasing prevalence of chronic medical ailments across the globe is one of the key factors driving the growth of the market. Albumin is widely used in the treatment of hypovolemia, acute respiratory distress syndrome, nephrosis, renal dialysis, liver failure, cardiopulmonary disorders and hypoalbuminemia. Moreover, the rising geriatric population, which is more susceptible to such ailments is providing a thrust to the market growth. Additionally, the widespread adoption of human serum albumin (HSA) for replenishing proteins in human plasma and maintaining plasma colloid oncotic pressure is acting as another growth-inducing factor. It also aids in preventing the denaturation of active protein ingredients, thereby making it highly beneficial for the production of vaccines. Other factors, including the introduction of albumin-based nanoparticles, along with extensive research and development (R&D) activities in the field of biotechnology, are anticipated to drive the market toward growth. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global albumin market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, application and end user.

Breakup by Product:

• Human Serum Albumin
• Bovine Serum Albumin
• Recombinant Albumin
   

Breakup by Application:

• Therapeutics
• Drug Formulation and Vaccine
• Component of Media
• Others
   

Breakup by End User:

• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Research Institutes
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Albumedix Ltd, Biotest AG, Celgene Corporation (Bristol-Myers Squibb Company), CSL Limited, Grifols SA, HiMedia Laboratories, Medxbio Pte Ltd, Merck KGaA, Octapharma AG, Takeda Pharmaceutical Company Limited, Thermo Fisher Scientific Inc. and Ventria Bioscience Inc.

Report Coverage: