The Albumin market was valued at approximately USD 4,875 million in 2020 and it is expected to reach USD 6,825 million by 2026, registering a CAGR of nearly 5.20% during the forecast period (2021-2026).
The outbreak of COVID-19 is expected to show a positive impact on the market because albumin is widely used in research and development activities. In the case of pharmaceutical drug development, the development of safe and stable formulations is a challenge, and the choice of excipients can become an important factor for their successful formulation. Moreover, albumin offers several benefits over other excipients in the formulation of various APIs and can help overcome certain challenges related to the formulation.
In addition, currently, pharmaceutical and biotech companies are focused on the development of vaccines or drugs for the COVID-19 which is expected to boost the market as albumin plays a key role in the development of vaccines or drugs. For instance, according to the National Clinical Trial Registry (NCT), there are about 10 planned and ongoing clinical trials related to albumin across different phases of development for the COVID-19 virus, which shows that there are ongoing research in this field, which may drive the studied market.
The major factors attributed to the growth of albumin market include the rise in non-therapeutic application of albumin, rising production of immunoglobulin, rising plasma collection, and high demand for albumin in R&D activities.
The rising awareness and benefits of albumin is boosting its demand across laboratories. It acts as a pharmaceutical stabilizer that reduces denaturation of the protein active ingredients. Moreover, human serum albumin offers several benefits that makes it suitable choice for vaccine formulations. Improvements in protein purification and molecular separation technology are anticipated to give a significant push to the market. Hence, owing to these aforementioned factors, the studied market is expected to witness growth.
Key Market Trends
The Human Serum Albumin Segment is Expected to Grow Faster Over the Forecast Period
Human serum albumin (HSA) is one of the most abundant protein in human plasma. Cancer, as well as a number of other diseases such as sepsis, trauma, heart failure, liver failure, etc, may cause hypoalbuminaemia. HSA is a small protein that is endogenously synthesized by the liver and is responsible for maintaining plasma colloid oncotic pressure. Additionally, human serum albumin is known to bind to nitric oxide and regulate inflammatory pathways.
For both clinical purposes and for human use, various concentrations of albumin are commercially available. For clinical use, human serum albumin is used in the treatment of burns, shock, and blood loss. Additionally, human serum albumin is present in pharmaceutical preparations, such as drug formulations and vaccines, and in cell culture media.
The outbreak of COVID-19 worldwide has created the opportunity for human serum albumin to play a key role in the development of effective therapy for the COVID-19 virus. For instance, according to the National Clinical Trials Registry (NCT), as of July 2020, there are three ongoing clinical trials related to human serum albumin for COVID-19 which is expected to boost the market.
Human serum albumin offers favorable characteristics and opportunities as a platform protein for molecular imaging probe discovery and optimization. Over the forecast period, the market for human serum albumin (HSA) is expected to increase significantly, primarily owing to the emergence of novel drug delivery methods involving HSA that are currently in investigational or early clinical trial stages.
North America is Expected to Dominate the Albumin Market
The North American region is expected to dominate the market, owing to the high demand for albumin in R&D activities, rising production of immunoglobulins, growing non-therapeutic application of albumin, and rise in plasma collection in the region.
In the United States, human albumin is indicated for restoration and maintenance of circulating blood volume where volume deficiency has been reported. The US FDA regulates the sale and distribution of non-trademarked albumin as Fractionated Plasma Products. As of 2019, the US FDA identifies two brands of commercially available albumin products - Albuminex (manufactured by Bio Products Laboratory) and Kedbumin (manufactured by Kedrion Biopharmaceuticals).
The increasing drug development and drug discovery activity in the biopharmaceutical industry is expected to spur the albumin market in the United States over the forecast period since it houses a very large number of biopharmaceutical companies. For instance, according to the National Clinical Trial Registry (NCT), there are about 294 ongoing clinical trials related to albumin across different phases of development for different indications. This indicates role of albumin in the development of effective therapeutics across different therapy areas, which is expected to drive the albumin market in the coming years.
The albumin market is competitive and consists of numerous major players. In terms of market share, a few of the major players currently dominate the market. With the rising need for better healthcare treatments and the increasing prevalence of diseases, it is expected that a few other smaller players are expected to enter the market. Some of the major players of the market are Akron Biotech, Baxter International Inc., Celgene, Grifols SA, (Merck KGaA) Sigma-Aldrich Co., etc.
Additionally, many companies are increasing their market presence thereby expanding their business footprint across the new markets. For instance, in March 2020, Curium announced that the U.S. Food and Drug Administration (FDA) has approved Pulmotech MAA (kit for the preparation of technetium Tc 99m albumin aggregated injection). When labeled to technetium Tc 99m, Pulmotech MAA is a single-photon emission agent for lung imaging as an adjunct in the evaluation of pulmonary perfusion and, in adults, to aid in the evaluation of peritoneovenous shunt patency. These advancements are expected to drive market growth in the future.
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TABLE OF CONTENTS
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 High Demand for Albumin in R&D Activities
- 4.2.2 Rise in Non-therapeutic Application of Albumin
- 4.2.3 Rising Production of Immunoglobulin
- 4.3 Market Restraints
- 4.3.1 Irrational Uses and Adverse Reactions Associated with Albumin
- 4.3.2 Rising Shift toward Serum-free Solutions
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Human Serum Albumin
- 5.1.2 Bovine Serum Albumin
- 5.1.3 Recombinant Albumin
- 5.2 By Application
- 5.2.1 Drug Delivery
- 5.2.2 Therapeutics
- 5.2.3 Culture Media Ingredient
- 5.2.4 Vaccine Ingredient
- 5.2.5 Other Applications
- 5.3 Geography
- 5.3.1 North America
- 184.108.40.206 United States
- 220.127.116.11 Canada
- 18.104.22.168 Mexico
- 5.3.2 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 France
- 184.108.40.206 Italy
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.3.3 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 Japan
- 188.8.131.52 India
- 184.108.40.206 Australia
- 220.127.116.11 South Korea
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 22.214.171.124 GCC
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle East and Africa
- 5.3.5 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Akron Biotech
- 6.1.2 Takeda Pharmaceutical Company Limited (Shire PLC)
- 6.1.3 Baxter International Inc.
- 6.1.4 Biotest AG
- 6.1.5 Celgene Corporation (Abraxis BioScience LLC)
- 6.1.6 Grifols SA
- 6.1.7 Merck KGaA (Sigma-Aldrich Co.)
- 6.1.8 Mitsubishi Tanabe Pharma
- 6.1.9 Novozymes AS
- 6.1.10 Octapharma AG
- 6.1.11 CSL Behring
- 6.1.12 HiMedia Laboratories
- 6.1.13 Medxbio Pte Ltd
- 6.1.14 China Biologic Products Holdings, Inc.
- 6.1.15 Thermo Fisher Scientific
- 6.1.16 Albumedix Ltd.
- 6.1.17 Ventria Bioscience Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS