The presence of scores of prominent companies focused on product
extension and service expansion increasingly account for the intense
competition in the global albumin market, finds Transparency Market
Research (TMR). The strategic landscape is further likely to heat up
with well-placed players seeking to consolidate their position by
entering into collaborations and partnerships with various
pharmaceutical and biotechnology companies in various parts of the
world. They are also inclined to acquire distribution rights to
expand their sales across various geographic regions, in order to get
a firm foothold in the global market, notes TMR.
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Top players operating in the global albumin market include MedxBio
Pte. Ltd., Thermo Fisher Scientific Inc., InVitria, HiMedia
Laboratories Pvt. Ltd., Mitsubishi Tanabe Pharma Corporation,
Sigma-Aldrich Co. LLC., Octapharma AG, Grifols International, and CSL
Behring LLC, S.A.,
The opportunities in the global albumin market is projected to surge
from US$4.8 bn in 2016 to US$10.359 bn by 2025 end. The market is
estimated to garner a healthy CAGR of 9.2% during 2017–2025.
The key varieties of albumin used are human serum albumin (HSA),
bovine serum albumin, and recombinant albumin. Of these, HSA, the
most widely found protein in human plasma, contributed the major
share in the global market in 2016. The segment is expected to retain
its dominance and will clock 9.2% CAGR during 2017–2025. The growth
is driven by extensive application of HSA as blood volumizer helpful
in a variety of conditions such as chronic diseases, rare blood
conditions, and transfusion therapies.
Regionally, Asia Pacific presently holds the sway accounting for the
leading share. The regional market is projected to expand at a
promising CAGR of 11.5% from 2017 to 2025. The growth is fueled by
substantially rising demand for albumin in emerging economies,
notably India and China. This can be attributed to its potential
application for treating rare diseases and burns.
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Serum albumin, the most abundant protein found in blood plasma
occupies a vital role in regulating blood volume by regulating
colloid osmotic pressure and acts as carrier proteins for various
molecules, including hormones, bile salts, and ions. This is a key
factor promoting its use for blood volumizer in various conditions
and in a range of replacement therapies.
The wide popularity of recombinant albumin for being used as
pharmaceutical excipient is a notable factor accentuating the market.
The substantial use of human serum albumin as an excipient for
various biotechnology products is contributing to the attractive
revenue in the market. Moreover, the market is benefitting from the
use of albumin reagent in various life sciences procedures.
The rising instance of shocks, burns, and traumatic injuries among
worldwide population is boosting the demand for albumin. The wide
application of albumin in a variety hypovolemic conditions is a
noteworthy factor boosting the market. Bovine serum albumin is the
type derived from cows is frequently used a component of cell culture
media, thereby accentuating the market’s growth. Its vast potential
in protein chemistry research and cell culture media is catalyzing
the growth of the overall market.
The rising volume of elderly population in a number of developing and
developed countries is a notable factor boosting the market. The
rapidly rise in incidence of rare diseases, such as rare blood
conditions, is expected to favor the expansion of the demand for
albumin. The rise in production of vaccine in various parts of the
world and a notably rising demand for biologics in several developing
and developed nations are notable factors contributing to the rapid
expansion of the market.
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However, the growth of the albumin market is severely constrained by
the lack of plasma fractionation in the pharmaceutical manufacturing
industry and the emergence of viable alternatives for replacement
therapies. Nevertheless, the market is expected to get a robust
fillip from rising medical and clinical applications over the
assessment period. Emerging, attractive prospects in this regard are
medical imaging and nuclear medicine, expected to unlock promising
prospects in the global market.
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