Rising production of immunoglobulin, growth in non-therapeutic application of albumin, increasing plasma collection, and high demand for albumin in R&D activities are factors responsible for the growth of this market
The global albumin market accounted for US$ 4.29 billion in 2018 and is estimated to be 6.77 billion by 2026 and is anticipated to register a CAGR of 6.0.6%. The report. "Global Albumin Market, By Product (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin), By Application (Therapeutics, Drug Formulation & Vaccine, Component of Media, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2026”.
Key Market Insights from the report:
The global albumin market accounted for US$ 4.29 billion in 2018 and is estimated to be 6.77 billion by 2026 and is anticipated to register a CAGR of 6.0.6%. The market report has been segmented on product, application, and region.
• By product, human serum albumin segment estimates for highest market share in 2017, and is projected to maintain this trend over the forecast period due to growth in the production of human serum albumin and it has extensive range of application in therapeutics as blood volumizer.
• By application, therapeutics segment estimates for highest market share in 2017 owing to growth in prevalence of burns cases, trauma, and increasing number of surgical procedures. Moreover, drug formulation & vaccines segment is projected to witness the biggest growth rate over the forecast period.
• By region, North America was the dominating revenue supplier to the global albumin market in 2017, and is projected to lead the global market over long run. This is accredited to the early approval of albumin products and increased adoption of recombinant albumin in this region.
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The prominent player operating in the global albumin market includes Grifols S.A., China Biologic Products Inc., Ventria Bioscience, Shire Plc, Merck KGaA, CSL Limited, Octapharma AG, Albumedix Ltd., Thermo Fisher Scientific, and Baxter International Inc.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
• In March 2019, Takeda Pharmaceutical Company Limited received the USFDA approval for the manufacturing of HAS-based therapeutic product, FLEXBUMIN, at a new manufacturing facility in Georgia. The approval has increased sales and leveraged Takeda’s market share.
• In October 2017, Green Cross Biotherapeutics Inc., started a state-of-art bio manufacturing facility in Montreal and North America. The plant features a unique plasma fractionation facility and is the only Canadian manufacturing facility of plasma-derived products mainly intravenous immunoglobulin and albumin.
High occurrence of liver disease
As per the report published by Centers for Disease Control and Prevention, numbers of people diagnosed suffering from liver disease were 4.9 million in the U.S. This indicates the requirement of people suffering from a state where their livers are not able to produce albumin anymore. This is projected to root substantial demand for the product, owing to its important nature in major bodily functions such as transportation of essential minerals, vitamins, and hormones.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Albumin Market”, By Product (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin), By Application (Therapeutics, Drug Formulation & Vaccine, Component of Media, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
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Some Important Points Answered in this Market Report Are Given Below:
• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
• Study Deliverables
• Study Assumptions
• Scope of the Study
2. Research Methodology
3. Executive Summary
• Opportunity Map Analysis
• Market at Glance
• Market Share (%) and BPS Analysis, by Region
• Competitive Landscape
• Heat Map Analysis
• Market Presence and Specificity Analysis
4. Investment Analysis
5. Competitive Analysis
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