Albumin is a water soluble globular protein, which is produced in the liver, and contributes 50% of blood plasma proteins. It plays an important role in regulating blood volume and act as transporters for molecules such as few hormones, bile salts, and ions. Commonly used serum albumins are human serum albumins and bovine serum albumins. With technological development, recombinant albumins are produced using recombinant rice plants, recombinant yeast species, and other recombinant cell lines. Human serum albumin is commonly used as blood volumizer in rare diseases, burns, shocks, certain liver conditions, and other blood loss trauma and surgeries. Recombinant albumin has found its application in areas such as diagnostics as binding ligands, excipients for drug formulations, and other life sciences procedures such as blotting. Bovine serum albumin is widely used as a component of cell culture media and other procedures in life sciences.
The global Albumin Market was valued at US$ 4,802.2 Mn in 2016 and is projected to expand at a CAGR of 9.2% from 2017 to 2025 to reach US$ 10,358.8 Mn by 2025. This report offers a thorough understanding of albumin market across the globe its key trends, drivers, restraints, and opportunities.
Human Serum Albumin is largely used as blood volumizer for burns, shocks, certain liver diseases, chronic blood conditions and during surgeries and trauma to compensate blood loss. With rise in prevalence of these conditions across the globe, global albumin market is projected to expand. With growing usage of recombinant albumin in life sciences applications and as excipient in drug formulations and vaccine production there is high demand for recombinant albumin production which in turn is likely to propel the global albumin market. Plasma fractionation and processing incurs significant cost and expertise which restricts entry of new players in this market. Moreover, it requires expert staff to handle the operations as plasma processing attracts stringent laws and regulations. Also scarcity of raw plasma for fractionation is another major concern among the industry players. This has limited the entry for new players in this market, and restrains the growth of albumin market across the globe.
Based on the product type, global albumin market is segmented into human serum albumin (HSA ) which is derivative of human plasma, bovine serum albumin (BSA) derived from fetal bovine serum, and recombinant albumin produced using recombinant yeast, rice and other culture sources. Among these these human serum albumin segment contributed largest share in global albumin market in 2016. This segment is expected to grow at CAGR of 9.2% during the forecast period from 2017 to 2025. Human serum albumin is widely used as a blood volumizer in conditions such as burns, shocks, rare diseases, etc. Huge demand for blood volumizer from emerging markets like China, India, and Brazil is expected to fuel this growth over the forecast period. The recombinant albumin segment is projected to expand at a CAGR of 6.0% from 2017 to 2025. rAlbumin is widely used in drug formulation, drug delivery, diagnostics and in many of the life sciences procedures. Bovine serum albumin market is expected to grow at CAGR of 2.6% during forecast period. BSA finds application as a major component of cell and microbial culture media. High demand of recombinant albumin and bovine serum albumin as an excipient in drug delivery and vaccine production is expected to drive demand for these segments from 2017 to 2025.
By application the global albumin market is segmented into blood volumizer, drug formulation and vaccine, life sciences, and others. Human serum albumin is widely used as blood volumizer and this segment accounted to largest share of global albumin market in 2016. Blood volumizer application segment is expected to grow at CAGR of 10.3 % and is expected to gain market share during forecast period from 2017 to 2025. Rise in prevalence of its indicative conditions such as burns, shocks, trauma, liver diseases and rare diseases across the globe are expected to be drivers for growth of the segment. Drug formulation and vaccine is second leading application segment. This segment is expected to grow at CAGR of 6.1 % for forecast period from 2017 to 2025. Albumin is increasingly used as excipients in drug delivery, and production of vaccines to stabilize the active drug ingredient owing to its features such as protein stabilizer, reducing drug or protein denaturation and low immunogenicity in patient.
Geographically the global albumin market is segmented in to North America, Europe, Asia Pacific, Latin America and Middle East 7 Africa. Asia pacific region dominated the global albumin market and is projected to expand at CAGR of 11.5 % over forecast period from 2017 to 2025. Emerging markets such as India and China are expected to fuel the growth of the albumin market in Asia Pacific. Growth of the market is attributed to large geriatric population and increase in prevalence of rare diseases, burns, and surgeries. Both North America and Europe are projected to lose their market share during given forecasted period owing to rise in preference for albumin alternatives and ambiguity in use of albumin as proven blood volumizer. However, other applications of albumin in drug development and vaccine production are expected to compensate for the decline during the forecast period in this region.
Major companies competing in the albumin market, and profiled in the report include CSL Behring LLC, Grifols International, S.A., Octapharma AG, Kedrion S.p.A., Baxalta Inc. (Shire plc), Octapharma AG, InVitria, Kedrion S.p.A., Mitsubishi Tanabe Pharma Corporation, Albumedix A/S (Novozyme A/S), Sigma-Aldrich Co. LLC. (Merck KGaA), Thermo Fisher Scientific, Inc., HiMedia Laboratories Pvt. Ltd., Medxbio Pte. Ltd.
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