Global rHu Albumin Market Insights Forecasts to 2030
- The global rHu Albumin Market was valued at USD 84.9 billion in 2021.
- The market is growing at a CAGR of 11% from 2021 to 2030
- The global rHu Albumin Market is expected to reach USD 217.1 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global rHu Albumin Market is expected to reach USD 217.1 billion by 2030, at a CAGR of 11% during the forecast period 2021 to 2030. The expansion of production facilities by market participants is likely to lead to an increase in their market presence and the creation of new opportunities, which is expected to lead to the growth of the market over the forecast period.
Albumin is a type of protein that is made in the liver. It is a globular protein that dissolves in water and moves through plasma. It makes up about half of the proteins that can be found in blood plasma. Albumins do a lot of important things, like transporting things like bile salts and a few hormones, and they also help control the amount of blood in the body. It is also used to save blood in situations like liver problems, shocks, rare diseases, trauma surgeries, and other similar situations. The need for more albumin in research and development is one of the main things that is driving the growth of the albumin market and its demand. Also, the fast growth of technology, the rise in the production of immunoglobulins, and the rise in the collection of plasma all contribute to the growth of the world market. Albumin's use in non-therapeutic applications is also growing quickly, and more and more people are learning about its benefits as an excipient. Both of these things are helping the market grow. In the same way, a big increase in the number of people who know about the recombinant albumin product is also helping the market grow in the next few years. In a similar way, the growth of the albumin market is being fueled by the development of more cost-effective therapies through mass production and by the high market potential in emerging economies that have not yet been fully explored. Together, these things are one of the most important reasons why the albumin market is growing.
Global rHu Albumin Market Report Coverage
|Market Size in 2021:||USD 84.9 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||11%|
|2030 Value Projection:||USD 217.1 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||197|
|Tables, Charts & Figures:||102|
|Segments covered:||By Type, By Application, By Region|
|Companies Covered:||Akron Biotech, Baxter International Inc, Bristol-Myers Squibb Company, Biotest AG, (Merck KGaA) Sigma-Aldrich Co|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for global based rHu Albumin Market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global rHu Albumin Market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global rHu Albumin Market sub-segments.
- In 2021, the OsrHSA segment dominated the market with the largest market share of 57% and market revenue of 48.3 billion.
Based on the type, the rHu Albumin Market is categorized into OsrHSA and DcrHSA. In 2021, the OsrHSA segment dominated the market with the largest market share of 57% and market revenue of 48.3 billion. Most of the human serum albumin (HSA) used in medicine comes from people who donate their blood. Some of the main ways it is used are to treat liver cirrhosis, hemorrhagic shock, severe burns, scalds, plastic surgery, hypoproteinemia, renal edoema, and other conditions. At the moment, the whole world needs about 850 tonnes of OsrHSA every year, and China uses about 420 tonnes every year. In the past few years, there has been a shortage of OsrHSA because blood plasma has become harder to get. This has made it hard to get enough. China and other Asian countries have been hit especially hard by this shortage. China is responsible for 60 percent of the world's total demand for OsrHSA. At the same time, the risk of getting diseases like hepatitis and AIDS that are spread through blood has risen to the top of the public's list of health worries in recent years. So, when it comes to clinical studies, both the FDA and the EMEA strongly support the use of recombinant OsrHSA that does not contain any parts that come from animals.
- In 2021, the cell culture media segment accounted for the largest share of the market, with 40% and market revenue of 33.96 billion.
Based on application, the rHu Albumin Market is categorized into Cell Culture Media, Medical Supplements, and Others. In 2021, Cell culture media dominated the market with the largest market share of 40% and market revenue of 33.96 billion. Most of the time, the medium that is used to grow cells also has enough energy and substances that control the cell cycle. Amino acids, vitamins, inorganic salts, glucose, and serum are the main things that make up a culture medium. Serum is added to the medium because it contains growth factors, hormones, and attachment factors. The medium not only gives the plant nutrients, but it also helps keep the pH and osmolality levels stable.
Regional Segment Analysis of the rHu Albumin Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global rHu albumin market, with a market share of around 36.5% and 84.9 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global rHu albumin market, with a market share of around 36.5% and 84.9 billion of the market revenue. Because of the high demand for albumin in research and development, the increasing production of immunoglobulins, the growing number of non-therapeutic uses of albumin, and the increasing rates of plasma collection in the region, it is expected that North America will be the biggest market for albumin. The United States is expected to be a key player in the growth of the market in the North American region. In the biopharmaceutical industry, more and more drug development and drug discovery activities are expected to be the main thing that drives the albumin market in the United States over the next few years. This is because albumin is used in many different ways to help people feel better. This is because there are so many biopharmaceutical businesses in the United States.
- The Asia Pacific market is expected to grow at the fastest CAGR between 2022 and 2030. The Asia-Pacific region has the most people and is the leader in the albumin market. This is because more and more attention is being paid to improving diagnostic tools, preventative treatments, and medical research.
The report offers the appropriate analysis of the key organizations/companies involved within the global rHu albumin market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Akron Biotech
- Baxter International Inc
- Bristol-Myers Squibb Company
- Biotest AG
- (Merck KGaA) Sigma-Aldrich Co
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In April 2022, Paclitaxel protein-bound particles for injection (albumin-bound) is a generic version of Abraxane.Apotex Corporation put it on the market in the United States.
- In January 2022, Bio Products Laboratory (BPL) announced that China's National Medical Products Administration (NMPA) had given them permission to sell ALBUMINEX 25% there.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global rHu albumin market based on the below-mentioned segments:
Global rHu Albumin Market, By Type
Global rHu Albumin Market, By Application
- Cell Culture Media
- Medical Supplements
Global rHu Albumin Market, Regional Analysis
- North America
- The US
- Rest of Europe
- The 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
Frequently Asked Questions (FAQ)
What is the market size of the RHu Albumin market?As per Spherical Insights, the size of the RHu Albumin market was valued at USD 84.9 billion in 2021 to USD 217.1 billion by 2030.
What is the market growth rate of the RHu Albumin market?The RHu Albumin market is growing at a CAGR of 11% from 2021 to 2030.
Which country dominates the RHu Albumin market?North America emerged as the largest market for RHu Albumin.
Who are the key players in the RHu Albumin market?Key players in the RHu Albumin market are Akron Biotech, Baxter International Inc, Bristol-Myers Squibb Company, Biotest AG, and (Merck KGaA) Sigma-Aldrich Co.
Which factor drives the growth of the RHu Albumin market?The increasing demand for albumin is expected to drive the market's growth over the forecast period.
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