Market Size of Albumin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
