Global Albumin Market Insights Forecasts to 2032
- The Global Albumin Market Size was valued at USD 6.1 Billion in 2022.
- The Market Size is Growing at a CAGR of 4.6% from 2022 to 2032
- The Worldwide Albumin Market is expected to reach USD 9.6 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Albumin Market Size is expected to reach USD 9.6 Billion by 2032, at a CAGR of 4.6% during the forecast period 2022 to 2032.
Albumin is the most abundant protein found in blood plasma. It is used to replace lost fluids and to help restore blood volume after trauma, burns, surgeries, infections, and liver diseases. It helps in drug stability by reducing aggregation, oxidation, and surface absorption. Serum albumins of various types are widely used in clinical applications. Human and bovine serum albumins are derived from human and bovine plasma, respectively. The rise in the prevalence of life-threatening disorders, special liver diseases, infections, and cardiac surgeries that result in hypoalbuminemia, as well as the development of new albumin products by a large number of key players, are driving growth in the global albumin market. Increased demand for albumin in R&D activities, an increase in non-therapeutic albumin applications, the development of plant-based albumin, an increase in immunoglobulin production, and an increase in plasma collection these factors driving the growth of the albumin market during the forecast period.
Global Albumin Market Report Coverage
|Market Size in 2022:
|USD 6.1 Billion
|Forecast Period 2022-2032 CAGR:
|2032 Value Projection:
|USD 9.6 Billion
|Historical Data for:
|No. of Pages:
|Tables, Charts & Figures:
|By Product, By Application, By End-user and By Region
|CSL Behring (CSL), Kedrion S.p.A., Takeda Pharmaceutical Company Limited, Lazuline Bio, InVitria, Biorbyt Ltd., Grifols, S.A., Octapharma AG, Albumin Bioscience, Aspira Chemical, ALBUMEDIX, Cyagen Biosciences, Merck KGaA, Thermo Fisher Scientific Inc., and Others.
|Pitfalls & Challenges:
|COVID-19 Empact, Challenges, Future, Growth, & Analysis
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Increased hypoalbuminemia prevalence and other medical conditions are driving the albumin market growth during the forecast period. The global demand for plasma-derived therapies, particularly albumin, has increased significantly. This increase is mostly due to an increase in the cases of various life-threatening disorders, special liver diseases, infections, and cardiac surgeries that result in hypoalbuminemia. Hypoalbuminemia is a condition characterized by decreased albumin production or increased loss of this protein through the kidneys, GI tract, skin, or extravascular space. It is the most common condition in critically ill and hospitalized patients. Albumin therapeutics or specific albumin therapies can be used to treat such life-threatening disorders. As a result, the increasing demand for such treatments is expected to drive the demand for the global albumin market during the forecast period.
Several countries have strict government regulations that limit product adoption. Factors such as a lack of therapeutic products and stringent government regulations hamper their widespread use. Government agencies in both developed and developing countries ensure that the plasma collected and delivered meets all quality, safety, and potency criteria. Furthermore, government agencies will not accept plasma as a starting material unless it meets certain safety and quality criteria. As a result, the lengthy product approval process and stringent government regulations may limit market growth to some extent.
By Product Insights
The human serum albumin segment is expected to hold the largest share of the global albumin market during the forecast period.
Based on the product, the global albumin market is classified into human serum albumin, recombinant albumin, and bovine serum albumin. Among these, human serum albumin is expected to hold the largest share of the albumin market during the forecast period. The segmental growth is mainly due to the introduction of new products into the market and increased sales of drugs used to treat hypoalbuminemia.
By Application Insights
The therapeutics segment is witnessing significant CAGR growth over the forecast period.
Based on the application, the albumin market is segmented into therapeutics, diagnostics, and research. Among these, the therapeutics segment grow at a significant CAGR growth over the forecast period. The growing number of product approvals from national regulatory authorities, increased demand for albumin in R&D activities, resulting in innovative product launches, and a surge in the adoption of these products for therapeutic purposes are all contributing to the segmental growth during the forecast period.
By End User Insights
The hospital & clinics segment is witnessing substantial CAGR growth over the forecast period.
Based on the end user, the albumin market is segmented into hospitals & clinics, pharmaceutical & biotechnology industries, and research institutes. Among these, the hospital & clinics segment is dominating the market with substantial CAGR growth over the forecast period. This growth can be attributed owing to the expansion of albumin-based therapeutic treatments and their administration in hospital settings.
North America dominates the market with the largest market share over the forecast period.
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North America is dominating the market share over the forecast period. Several research organizations and biopharmaceutical companies are expected to increase their investments in life sciences, which will likely boost the market in the North American region during the forecast period. The market is growing as a result of the increased use of plasma fractionation facilities and growing R&D activities in this region, as well as the increasing demand for albumin.
Europe albumin market accounts for the second-largest market share during the forecast period. It is expected that the market will be propelled by the introduction of new products, the implementation of critical initiatives such as partnerships and acquisitions, and rising investments. The growing drug discovery and development efforts of the biopharmaceutical industry are expected to fuel the albumin market. Furthermore, the UK albumin market held the largest market share, while the German albumin market was the fastest-growing market in the region.
Asia Pacific albumin market is expected to grow at the fastest CAGR during the forecast period. This growth can be attributed to the growing government investment and research and development for technologically advanced products are some of the factors driving market growth in this Asia Pacific region. Furthermore, it is expected that rising rates of blood-related diseases, such as blood infections, will drive up demand for albumin in the coming years. Furthermore, the China market for albumin held a substantial market share, while the Indian market for albumin was the regional fastest-growing market.
List of Key Market Players
- CSL Behring (CSL)
- Kedrion S.p.A.
- Takeda Pharmaceutical Company Limited
- Lazuline Bio
- Biorbyt Ltd.
- Grifols, S.A.
- Octapharma AG
- Albumin Bioscience
- Aspira Chemical
- Cyagen Biosciences
- Merck KGaA
- Thermo Fisher Scientific Inc.
Key Market Developments
- In June 2023, Sartorius AG (ALBUMEDIX) and Cell and Gene Therapy Catapult (CGT Catapult) collaborated to investigate the use of the company's albumin-based solutions for advanced therapy applications, including viral vector manufacturing.
- In May 2023, American Regent, Inc. introduced paclitaxel protein-bound particles for injectable suspension (Albumin-Bound), a replacement for Abraxane.
- In July 2021, Octapharma AG received approval from the FDA to expand its production facility in Springe, Germany as another manufacturing site for Fraction II.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global albumin market based on the below-mentioned segments:
Global Albumin Market, Product Analysis
- Human Serum Albumin
- Recombinant Albumin
- Bovine Serum Albumin
Global Albumin Market, Application Analysis
Global Albumin Market, End User Analysis
- Hospital & Clinics
- Pharmaceutical & Biotechnology Industry
- Research Institutes
Global Albumin Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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