Albumin Market Size, Share, Industry Trends and Forecast to 2030

Albumin Market Size & CAGR in 2021:

The global albumin market is expected to reach a value of USD 2.5 billion by the end of 2021, with a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2021 to 2026. The increasing prevalence of chronic diseases such as liver cirrhosis, nephrotic syndrome, and burns is driving the demand for albumin in the pharmaceutical and healthcare sectors.

COVID-19 Impact on the Albumin Market:

The COVID-19 pandemic had a significant impact on the albumin market, as the healthcare industry faced challenges in the production and supply chain of albumin. With hospitals overwhelmed with COVID-19 patients, the demand for albumin surged for the treatment of critically ill patients. However, disruptions in manufacturing facilities and transportation logistics led to temporary shortages in some regions.

Albumin Dynamics:

Albumin is a vital protein produced by the liver that plays a crucial role in maintaining osmotic pressure, transporting hormones and drugs, and regulating pH in the body. The increasing awareness about the benefits of albumin in various medical conditions is driving its demand in the healthcare industry. Moreover, advancements in albumin purification techniques and the development of recombinant albumin are further boosting market growth.

Segments and Related Analysis:

1. By Type:

- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin

2. By Application:

- Therapeutics
- Drug Formulation & Delivery
- Cell Culture & Biotechnology
- Diagnostics

By Region Analysis:

1. North America:

- The North American region dominates the albumin market, with the U.S. accounting for a significant share due to the presence of major pharmaceutical and biotech companies. The increasing investments in research and development activities and the growing prevalence of chronic diseases are driving market growth in this region.

2. Europe:

- Europe is experiencing steady growth in the albumin market, supported by advancements in biotechnology and increasing adoption of albumin in medical applications. Countries like Germany, the UK, and France are key contributors to the market growth in the region.

3. Asia Pacific:

- The Asia Pacific region is expected to witness the highest growth rate in the albumin market during the forecast period. Rising investments in healthcare infrastructure, growing pharmaceutical industry, and increasing awareness about albumin benefits are driving market expansion in countries like China, India, and Japan.

Key Market Players and Competitive Landscape:

- CSL Behring
- Grifols International S.A.
- Novozymes A/S
- InVitria
- Albumedix Ltd.
- HiMedia Laboratories
- Mitsubishi Tanabe Pharma Corporation
- Novozymes A/S
- Sigma-Aldrich Corporation
- Thermo Fisher Scientific Inc.

Recent happenings in the Albumin Market:

- In June 2021, CSL Behring announced the launch of a new albumin product for therapeutic applications.

- In September 2021, Grifols International introduced a novel albumin formulation for drug delivery systems.

- In January 2022, Novozymes A/S unveiled a recombinant albumin product for cell culture applications.

- In March 2022, Albumedix Ltd. partnered with a leading biopharmaceutical company to develop advanced albumin-based therapies.

- In May 2022, Mitsubishi Tanabe Pharma Corporation received regulatory approval for a human serum albumin-based drug for liver cirrhosis treatment.