The albumin market is expected to register a CAGR of 5.8% over the forecast period. Factors that are responsible for the growth of this market include the rise in non-therapeutic application of albumin, rising production of immunoglobulin, rising plasma collection, and high demand for albumin in R&D activities.
The rising awareness about the benefits of albumin as an excipient is boosting its demand across various laboratories. Albumin acts as a pharmaceutical stabilizer during formulation, as well as reconstitution, of the formulated pharmaceutical composition. It reduces adhesion and denaturation of the protein active ingredients, thereby preventing their loss.
Moreover, human serum albumin (HSA) has the benefit of having insignificant immunogenicity when injected into a patient, making it a suitable choice for vaccine formulations. Improvements in protein purification and molecular separation technology are anticipated to give a significant push to the market. Moreover, the emerging markets provide immense opportunities for albumin as an excipient, owing to the development of contract research manufacturing. Henceforth, these aforementioned factors are helping in the market growth.
However, the factors, such as the irrational uses and adverse reactions associated with albumin, and the rising shift toward serum-free solutions are restraining the market growth.
Key Market Trends
The Human Serum Albumin Segment is Expected to Grow Faster During the Forecast Period
Human serum albumin is the serum albumin found in human blood. It is the most abundant protein in human blood plasma and constitutes about half of the serum proteins. It is produced in the liver and is soluble and monomeric. The fast growth of the human serum albumin segment is due to its use in large amounts in the treatment of burns, shock, and blood loss, and even it is used in the pharmaceutical preparations, such as drug formulations and vaccines, and in cell culture media. Thus, the rising formulations and increasing R&D, along with the rising incidence of diseases, are helping the segment to grow faster in the forecast period.
Asia-Pacific to Register the Highest CAGR in the Albumin Market
The Asia-Pacific region is expected to dominate the market in the upcoming years. Increase in use of albumin for the treatment of diseases, the presence of a high patient pool, increase in R&D using albumin as an excipient, and increase in focus toward enhanced diagnosis are the major factors driving the growth of the albumin market in the Asia-Pacific region.
The albumin market is competitive and consists of numerous major players. In terms of market share, a few of the major players currently dominate the market. With the rising need for better healthcare treatments and the increasing prevalence of diseases, it is expected that a few other smaller players are expected to enter into the market. Some of the major players of the market are Akron Biotech, Baxter International Inc., Celgene, Grifols SA, and (Merck KGaA) Sigma-Aldrich Co., among others.
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