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Global Albumin Market by Type (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin), by Application (Drug Delivery, Therapeutics, Culture Media Ingredient, Vaccine Ingredient, and Others), by End User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Research Institutes, and Others), by Geography, Forecasts and Industry Outlook 2024-2035

  • PUBLISHED ON
  • 04/10/2022
  • NO OF PAGES
  • 233
  • CATEGORY
  • Healthcare & Life Sciences
Global Albumin Market- Description
Albumin is referred to as a type of naturally occurring protein secreted by the liver. This component is found in the blood plasma and it enters into the blood stream to prevent fluid leakage in tissues and blood vessels. Albumin is further equipped with the ability to transport pivotal elements such as enzymes, hormones, and vitamins throughout the human body. These proteins are generally water-soluble in nature and are also known for experiencing heat degeneration.

Global Albumin Market- Overview
The global albumin market was worth USD 0.81 billion in 2021 and is poised to accumulate a valuation of USD 1.7 billion by 2030, registering a CAGR of 6.3% over the forecast duration of 2022-2030. The growing prevalence of liver disorders and rising usage of albumin during vaccine production are primarily augmenting the outlook of this marketplace.
Additionally, increasing R&D activities in the field along with the surging usage of albumin induced injections during bypass surgeries are creating lucrative opportunities for the industry sphere to prosper.
Also, rapid emergence of plant-based albumin components, increase in plasma collection activities, and growing immunoglobulin production across the globe are adding momentum to the expansion of this business sphere.

Moreover, increasing cognizance regarding the benefits of this protein type and growing focus of market players to develop new products in the field are stimulating the overall market dynamics.
On the contrary, stringent regulations pertaining to albumin use and adverse health effects caused by the component are hindering the remuneration scope of this industry sphere.

Global Albumin Market- Key trends
Efficacy of albumin as a multifunctional excipient to bolster industry development
Albumin is a type of protein that offers various health based and commercial advantages. The efficacy of this component in regulating blood osmotic pressure is one of the major factors driving market growth. Moreover, it also prevents protein aggregation during their manufacture and transportation. Its high usage as a drug carrier during the treatment of ailments such as cancer, hepatitis, and diabetes is further adding traction to the industry expansion.

Usage of albumin during vaccine production to augment industry outlook
There has been a widespread adoption of albumin during the development of various vaccines. This is powered by the ability of this protein to prevent surface adsorption and check shear stress during the production process. Also, albumin is known to provide thermal stability to the developed vaccine samples. These factors are creating an upward trend for the market progression.

Global Albumin Market- Segmental assessment
By Type
• Human Serum Albumin
• Bovine Serum Albumin
• Recombinant Albumin
The human serum albumin segment is slated to amass notable gains over the anticipated timeline owing to its high efficacy is facilitating drug delivery.

By Application
• Drug Delivery
• Therapeutics
• Culture Media Ingredient
• Vaccine Ingredient
• Others

By End User
• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Research Institutes
• Others
The pharmaceutical segment is likely to generate significant returns over the stipulated timeframe due to the widespread use of albumin is vaccine development.

Global Albumin Market- Geographical landscape
The primary regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, South America, Europe, and Asia Pacific. Among these, North America presently dominates the market in terms of revenue share. This is attributable to the growing pervasiveness of chronic ailments, increase in the geriatric population base, and rising non-therapeutic applications of albumin.
Meanwhile. Asia Pacific is poised to showcase lucrative expansion trends over 2022-2030 owing to the rapid increase in healthcare expenditure and surge in the elderly population base.

Global Albumin Market- Competitive hierarchy
The prominent players defining the competitive terrain of this business vertical are Albumedix Ltd., Amgen, Baxalata Incorporated, Baxter International, Inc., Biotest AG, Celgene Corporation (BristolMyers Squibb Company), China Biologic Products, Inc., CSL Behring LLC, Grifols S.A., HiMedia Laboratories, Kedrion S.p.A., Medxbio Pte Ltd., Merck KGaA, Mitsubishi Tanabe Pharma, Novozymes Biotest AG, Octapharma AG, SERACARE LIFE SCIENCES, Sigma-Aldrich Corporation, Takeda Pharmaceutical Company Limited, Thermo Fisher Scientific Inc., Ventria Bioscience Inc., and Others.
Notably, in July 2020, Grifols announced the acquisition of GC Pharma Group to enhance its offerings in the field.

Report scope
Global Albumin Market: Historical Years- 2018-2021
Global Albumin Market: Forecast Years- 2022-2030
Global Albumin Market 2021- USD 0.81 billion
Global Albumin Market 2030- USD 1.7 billion
Global Albumin Market CAGR-6.3%

Major segments reported-
• By Type (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin)
• By Application (Drug Delivery, Therapeutics, Culture Media Ingredient, Vaccine Ingredient, and Others)
• By End User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Research Institutes, and Others)

Key regions and countries
• North America (U.S., Canada, and Mexico)
• Latin America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)

Top players profiled-Albumedix Ltd., Amgen, Baxalata Incorporated, Baxter International, Inc., Biotest AG, Celgene Corporation (BristolMyers Squibb Company), China Biologic Products, Inc., CSL Behring LLC, Grifols S.A., HiMedia Laboratories, Kedrion S.p.A., Medxbio Pte Ltd., Merck KGaA, Mitsubishi Tanabe Pharma, Novozymes Biotest AG, Octapharma AG, SERACARE LIFE SCIENCES, Sigma-Aldrich Corporation, Takeda Pharmaceutical Company Limited, Thermo Fisher Scientific Inc., Ventria Bioscience Inc., and Others

Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.

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