Albumin Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Albumin Market Analysis
The albumin market is expected to register a CAGR of nearly 5.20% during the forecast period.
The outbreak of COVID-19 had a significant impact on the market since albumin infusion was widely used for COVID-19-infected patients. Also, albumin was reported as an important marker for predicting COVID-19. For instance, according to the article published in October 2022 in PubMed, albumin administration was found to regulate COVID-19-related biomarkers and reduce the risk of death in critical patients with hypoalbuminemia. Thus, the pandemic significantly impacted the studied market due to the increase in the adoption of albumin treatments for COVID-19-infected patients. However, in the post-pandemic scenario, with the declining COVID-19 cases, the studied market is anticipated to grow considerably due to the rise in research and development activities using albumin and the improvements in therapeutics for various diseases.
The major factors attributed to the growth of the albumin market include the rise in non-therapeutic applications of albumin and the high demand for albumin in R&D activities. For instance, as per an article published in April 2023 in Frontiers Journal, albumin-based hydrogels demonstrated significant progress in antitumor-drug delivery and tissue regeneration engineering. Due to the controlled mechanical properties, better biocompatibility and better degradability, albumin-based products are utilised by researchers for studies. Moreover, the launch of new products and strategic partnerships by the key players in the market is expected to address the growing need for albumin in addressing many chronic conditions, thereby driving the market. For instance, in January 2022, Bio Products Laboratory (BPL), a manufacturer of plasma-derived protein therapies, received National Medical Products Administration (NMPA) license to market ALBUMINEX 25% product to China. ALBUMINEX treats hypovolemia (a condition that occurs when the body loses fluid, like blood or water), ascites, hypoalbuminemia and burns. As albumin effectively reverses hypovolemia, such strategic product launches are likely to increase the demand for albumin products, thereby contributing to market growth over the forecast period.
Furthermore, rising research and development activities and clinical studies demonstrating the advantages of albumin are also expected to boost the market. For instance, in February 2023, Ruijin Hospital sponsored a clinical trial to compare the effects of different amounts of human albumin infusion per week in patients with hospitalised decompensated cirrhosis on 28-day transplant-free survival and to compare further the alleviation of inflammation, reduction of incidence of nosocomial infection, spontaneous bacterial peritonitis (SBP), acute kidney injury (AKI), acute-on-chronic liver failure (ACLF), and 90-day transplant-free survival.
Hence, owing to the increase in clinical studies and the rise in strategic activities by the key payers, the studied market is expected to grow significantly. However, irrational uses and adverse reactions associated with albumin and the rising shift toward serum-free solutions are expected to hinder market growth during the forecast period.
Albumin Market Trends
The Human Serum Albumin Segment is Expected to Witness a Notable Growth in the Studied Market Over the Forecast Period
Human serum albumin (HSA) is the serum albumin found in human blood and is the most available protein in human blood plasma. As one of the most abundant proteins in blood plasma, human serum albumin facilitates the transport of hormones, fatty acids and various compounds through the bloodstream. Also, HSA helps in maintaining osmotic blood pressure in the body. Human serum albumin is utilised under multiple clinical conditions, such as restoration of blood volume, emergency treatment of shock, acute management of burns, and other situations associated with hypovolemia, and hence, they are in high demand worldwide.
Factors such as an increase in hypovolemia conditions due to various chronic diseases, a rise in utilisation of human serum albumin in intensive care units, and an increase in HSA product launches by the key players are expected to fuel the segment growth over the forecast period. For instance, cancer patients are likely to be hypovolemic due to continuous vomiting and diarrhoea or inadequate intake of fluids. An increase in cancer cases is expected to raise the demand for HSA, bolstering market growth. For instance, according to the American Cancer Society 2023 Cancer Statistics, about 1.93 million cancer cases are estimated to be reported in 2023 in the United States. The high burden of cancer is expected to augment the demand for HSA, thereby boosting segment growth over the forecast period.
Furthermore, the presence of key players and their strategic activities like product launches, collaborations and agreements are likely to raise the availability and demand for the HSA over the forecast period. For instance, in November 2021, Grifols launched its latest albumin portfolio innovation, ALBUTEIN FlexBag (Albumin [Human] U.S.P.), in 5% and 25% concentrations. Furthermore, an increase in research studies demonstrating the advantages the HSA offers in various therapies will likely contribute to the market growth over the forecast period. For instance, as per the article published in February 2023 in the RSC Advances journal, the researchers demonstrated that compared with individual chemotherapy or photodynamic therapy (PDT) nanoplatforms, hollow human serum albumin had a better anticancer effect via the combination of PDT with chemotherapy after loading photosensitiser Ce6 and anticancer drug DOX. Hence, with such advances and benefits offered by the HSA in chronic disease treatment, the studied segment is expected to grow significantly over the forecast period. Additionally, hypoalbuminemia is considered one of the significant indications of protein-calorie malnutrition and chronic liver disease. Thus, an increase in research funding related to nutrition can include the research and development support of various HSA products, which is expected to augment the segment growth over the study period.
Thus, due to the increase in the adoption of HSA in chronic disease treatment, and the rise in strategic product launches by the key players coupled with benefits offered by the HSA in drug delivery, the studied segment is expected to witness notable market growth over the forecast period.
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North America is Expected to Witness a Significant Growth Over the Forecast Period
The North American region is expected to witness healthy growth over the forecast period, owing to the presence of key market players and their strategic activities, the rise in cancer cases, which leads to hypoalbuminemia and a surge in research and development activities to develop albumin-based products.
The increase in liver cancer among the North American population is on the rise, which is expected to raise the demand for HSA, as hepatic cell carcinoma patients with lower serum albumin levels had significantly larger maximum tumour diameters compared to higher albumin level patients. For instance, according to the Canadian Cancer Society, 3,500 Canadians were diagnosed with liver cancer in 2022. These cancers mainly affect adults and are more common in men than women. Further, according to a study published in March 2022 in PubMed, hypoalbuminemia was an independent risk factor for tumour progression in early-stage, non-ablative hepatocellular carcinoma (HCC). Thus, the high prevalence of HCC is expected to bolster the demand for albumin-based products, which is further likely to augment the market growth in North America over the forecast period.
Moreover, strategic activities by the key players, such as product launches, partnerships, acquisitions, and rising investments, are further expected to drive the market as these activities are likely to increase the availability of albumin products across the North American region. For instance, in July 2022, EKF Diagnostics revealed the availability of the FDA-cleared Lucica Glycated Albumin-L test kit, manufactured by Asahi Kasei Pharma Corp. and sold exclusively in the United States by EKF. Lucica Glycated Albumin-L is a specific, quantitative glycated albumin test for intermediate-term glycemic control monitoring in patients with diabetes. It is an enzymatic method for compatible clinical chemistry analysers with open channel capability.
Thus, due to the high prevalence of chronic disease, which requires albumin-based treatment and the rise in strategic product launches by the key players, North America is expected to witness significant market growth over the forecast period.
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Albumin Industry Overview
The albumin market is fairly competitive and consists of several key market players. In terms of market share, few of the major players currently dominate the market. With the rising need for better healthcare treatments and the increasing prevalence of diseases, a few other smaller players are expected to enter the market. Some of the key players in the albumin market are Akron Biotech, Baxter International Inc., Bristol-Myers Squibb Company, Biotest AG, and Merck KGaA, among others.
Albumin Market Leaders
Baxter International Inc.
Bristol-Myers Squibb Company
Grifols (Biotest AG)
Thermo Fisher Scientific
*Disclaimer: Major Players sorted in no particular order
Albumin Market News
- In March 2023, Albumedix and Heartseed presented Recombumin as a critical excipient in the manufacture of Heartseed's HS-001 investigational cell therapy as its first-in-human trial launched. Recombumin, an animal and human-origin-free recombinant albumin, is an excipient in the final formulation of Heartseed's HS-001 treatment.
- In September 2022, the life science group Sartorius, through its French-listed subgroup Sartorius Stedim Biotech acquired Albumedix Ltd, a key player in recombinant albumin-based solutions based in Nottingham, United Kingdom.
Albumin Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 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 Applications 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 (Market Size by Value - in USD Million)
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
5.2.3 Culture Media Ingredient
5.2.4 Vaccine Ingredient
5.2.5 Other Applications
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
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 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Akron Biotech
6.1.2 Baxter International Inc.
6.1.3 Grifols (Biotest AG)
6.1.4 Bristol-Myers Squibb Company
6.1.5 Merck KGaA
6.1.6 Novozymes AS
6.1.7 Octapharma AG
6.1.8 CSL Behring
6.1.9 Medxbio Pte Ltd
6.1.10 China Biologic Products Holdings Inc.
6.1.11 Thermo Fisher Scientific
6.1.12 Albumedix Ltd
6.1.13 Ventria Bioscience Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Albumin Market Research FAQs
What is the study period of this market?
The Albumin Market is studied from 2018 - 2028.
What is the growth rate of Albumin Market?
The Albumin Market is growing at a CAGR of 5.2% over the next 5 years.
Which region has highest growth rate in Albumin Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Albumin Market?
North America holds highest share in 2022.
Who are the key players in Albumin Market?
Baxter International Inc., Bristol-Myers Squibb Company, Merck KGaA, Grifols (Biotest AG), Thermo Fisher Scientific are the major companies operating in Albumin Market.
Albumin Industry Report
Statistics for the 2023 Albumin market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Albumin analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.