Albumin Market Revenue to Attain USD 11.02 Bn by 2033

07 Oct 2024

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Table of Content

1. Albumin Market Revenue and Trends 2. Market Overview 3. Report Highlights of Albumin Market 4. Albumin Market Trends 5. Regional Insights 6. Albumin Market Highlights 7. Market News

Albumin Market Revenue and Trends

The global albumin market revenue was valued at USD 6.38 billion in 2023 and is expected to attain around USD 11.02 billion by 2033, expanding at a CAGR of 5.62% during the forecast period. The increasing number of diseases and life-threatening conditions like trauma, liver cirrhosis, burns, hypoalbuminemia and cardiac procedures has led to the growth of the Albumin market.

Market Overview

Albumin is the most abundant protein in plasma which makes up about half of its total protein content that is made by the liver which helps keep the fluid from leaking out of blood vessels, and carries hormones, vitamins, enzymes throughout the body.

Albumin is mostly used by many pharmaceutical companies for the purpose of diagnosis and therapeutics and for treating various conditions like shock, trauma, and liver and also in plasma volume expander. The market is mostly driven by the ongoing advancements in the biotechnology for the production of albumin, rising economies, increasing number of chronic diseases which require albumin based treatments.

Furthermore, the increasing cases of hypoalbuminenia leading to the inflammatory conditions that develops capillary permeability, which leads to albumin leakage and shortened half-life results in decreased levels through kidneys, GI tract, and skin. Also the other medical conditions like liver cirrhosis need albumin based therapies that increase the demand for more advanced treatments.

• For instance a article published by American Liver Foundation on September 2023 which reported that more than 100 million people in the U.S. had some form of liver disease in which 4.5 million U.S. adults were diagnosed with liver disease and it is expected that 80-100 million adults in U.S have fatty liver disease and many of them are unaware.
• For instance, a article published by National Library of Medicine on March 2024 shows that albumin infusion can act as a effective treatment option for treating the cirrhosis patients as it regulates the fluid balance, treats ascites and spontaneous bacterial peritonitis by improving the patient outcomes.

Report Highlights of Albumin Market

• By product type, the human serum segment dominated the largest share in 2023. It is used in various applications of cell culture and clinical practice to treat several diseases regulated by plasma osmotic pressure and transport drugs and ligands.
• By application type, the therapeutics segment accounted for the largest share in the albumin market in 2023, as it is used in various clinical conditions like shock, burn, hypoalbuminemia, trauma, cardiac disease, and acute respiratory syndrome. It also helps in drug delivery, infusion, and wound healing.
• By end-user insights, the hospitals and clinics segment dominated the market in 2023. The human albumin solution is used in various conditions like septic shock, liver cirrhosis, and also as a plasma expander.

Albumin Market Trends

Increasing demand for recombinant albumin:

• As the new advanced methods developed for the medical use is gaining demand the market for the recombinant albumin is also increasing. The albumin is usually produced using the genetic engineering methods that have low risk for the contamination as compared to the human serum albumin.
• For instance, Shilpa Biologics has filed its first drug master file of recombinant Human Albumin 20% with USFDA that is completely environment friendly, high-quality product and is cot competitive.

Increasing Healthcare Infrastructure:

• The improved medical facilities, advanced treatments and specialized therapies especially the albumin-based therapy is increasing the healthcare infrastructure. Many companies are also investing more in the healthcare sector by making the treatments readily available to meet the increasing demand for various age groups which is expanding the albumin market.

Advancements in technology:

• New emerging advanced technologies like the plasma fractionation technology that is used to produce albumin and new techniques such as high-resolution chromatography, advanced filtration are improving and revolutionizing the separation and purification of plasma proteins.

Regional Insights

North America dominated the albumin market in 2023 and is expected to hold the position in the coming years as various biotechnology and pharmaceutical companies are adopting recombinant DNA technology to produce albumin. Moreover, high investments in the research sector, healthcare, and regulatory framework also contribute to market growth. In addition, the rising aging population with the increasing disease conditions also creates a need for the use of albumin in conditions like shock, trauma, and chronic disease management, leading to high demand and expanding the albumin market.

Asia Pacific is observed to be the fastest growing region for the albumin market. Countries like China, India, and Japan are boosting investments in healthcare infrastructure, driving demand for albumin products, particularly in treatments related to liver diseases, burns, and surgical procedures. Ongoing R&D in the pharmaceutical and biopharmaceutical industries is boosting the adoption of albumin-based products in Asia Pacific, particularly in plasma-derived therapies.

Albumin Market Highlights

Market News

• In July 2023, Kedrion Biopharma has announced that the China’s National Institute for Food and Drug control has approved the BPL’s human albumin product in the Chinese market with a aim to supply high-quality plasma derived medicines for the treatment of chronic diseases.
• In June 2024, Dyadic International Inc, in partnership with Proliant Health and Biologics aims to develop animal-free recombinant products that will provide the opportunity to co-develop cost-effective, high-quality, high-volume products for the growing albumin market that can used in various applications like cell culture, vaccine, medical device and diagnostic methods.

Market Segmentation

By Product

• Human Albumin
• Bovine Albumin
• Recombinant Albumin

By Application

• Drug Formulation
• Therapeutics
• Others

By End-user

• Hospitals and Clinics
• Pharmaceutical Companies
• Research Institutions

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