Market Overview

Albumin Market is projected to achieve a value of USD 7.74 Billion in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 11.54 Billion by 2033 with a CAGR of 4.8% during the forecast period 2023-2033.

The most prevalent circulating protein in plasma is called albumin. It is produced by the liver and is essential for controlling blood osmotic pressure. The rise in plasma fractionation facilities, the prevalence of hypoalbuminemia and other illnesses, and the increase in plasma collection are some of the factors propelling the growth of the worldwide albumin market.

Furthermore, there is a global upsurge in research endeavors aimed at ascertaining the efficacy of albumin. Researchers have released a number of papers listing treatment alternatives for various illnesses in a variety of periodicals. Furthermore, advancements made by well-known figures in the upcoming years, the market and a spike in product approvals will offer growth prospects for the worldwide market.

The albumin market is driven by several different things. The market for albumin products is driven by the increased incidence of liver illnesses and the rise in surgical procedures. The pharmaceutical industry's growing usage of albumin for drug formulation and administration further drives market expansion. The use of albumin in cell culture media and vaccine development has increased demand for it due to biotechnology advancements. Additionally, the albumin industry is supported globally by the aging population and the increasing demand for medicines generated from plasma. These combining forces produce a stable market environment in which albumin is still an essential ingredient in the pharmaceutical and medical industries, supporting its ongoing expansion.

In human therapeutics, albumin is greatly needed to replace lost fluids and restore blood volume following operations, major burn injuries, fetal erythroblastosis, hypoproteinemia, and accidents. When compared to serum products of human or animal grade, recombinant albumin has many advantages, including greater homogeneity, purity, and lack of animal content. Moreover, the hydrophobic nature of recombinant human serum products gives them a great ability to transport a variety of ligands. Their need in drug delivery applications has grown as a result. Prominent companies in the worldwide industry are also concentrating on a number of expansion tactics, including collaborations and mergers to expand their product portfolio and create cutting-edge treatments.

The size of the worldwide market increased as a result of the COVID-19 epidemic. The key reason for the market's expansion was the increase in R&D efforts to demonstrate the product's benefits for COVID-19 patients. Furthermore, the COVID-19 pandemic caused major market participants to see a sharp increase in albumin segment revenue. In order to fulfill the rising demand for albumin products, they were concentrating on strategic efforts like partnerships and collaborations as well as increasing their production capabilities.

Market Scope

Market Dynamics

Market Drivers

Increasing Demand in Medical Applications

The Albumin Market is expanding due to the rise in medical applications. The need for albumin, an essential protein in many therapeutic treatments, is higher because of its many applications in drug delivery systems, expanding plasma volume, and stabilizing formulations in biopharmaceuticals and vaccines. The need for albumin-based therapy in critical care, liver disorders, and surgery is increasing due to the rise in chronic illnesses and the aging population. Moreover, the market's growth is propelled by its capacity to transport drugs and its adaptability to a range of treatments, meeting the growing demand for cutting-edge medical solutions around the globe.

Rising demand for immunoglobulins

The albumin market is influenced by the increasing need for immunoglobulins. Albumin is frequently required for the stabilization and improvement of the therapeutic qualities of immunoglobulins, which are essential drugs used to treat infections, immunodeficiency disorders, and autoimmune illnesses. Albumin is in high demand as a stabilizing agent due to the rising incidence of infectious illnesses and autoimmune disorders, which in turn drives the need for immunoglobulin-based therapy. With the increased emphasis on precision medicine and biopharmaceutical breakthroughs, albumin's role in promoting the stability and efficacy of immunoglobulins becomes increasingly important as the medical landscape changes. This will drive albumin's market expansion and significance in the healthcare industry.

Market restrains

Research and Development Costs

The albumin market is constrained by the high barrier of research and development (R&D) expenses. To assure safety, efficacy, and regulatory compliance, significant investment in research and development is necessary for innovations in albumin-based medicines and formulations. Market expansion is hampered by the high expenses associated with preclinical and clinical trials as well as the requirement for ongoing manufacturing process upgrades. These high R&D costs frequently result in higher product prices, which restricts patients' and healthcare systems' access to albumin-based medicines. It's still difficult to strike a balance between innovation and cost-effectiveness, which prevents albumin from being widely used in a variety of medical applications and limits market growth.

Market By Product Analysis

By Product, the Albumin Market is Categories into Human Serum Albumin, Recombinant Albumin, and Bovine Serum Albumin. The Human Serum Albumin segment accounts for the largest share of around 46% in 2022.

The growing need for HSA-based treatments for a range of conditions, such as burns, shock, and liver failure, is anticipated to propel the HSA subsegment's growth at a CAGR of more than 5% over the course of the projected period.

Market By Application Analysis

By Application, the Albumin Market is Categories into Therapeutics, Diagnostics, and Research. The Therapeutics segment accounts for the largest share of around 37% in 2022.

The increasing number of product approvals from national regulatory bodies, the demand for albumin in R&D operations, which results in the development of novel goods, and the rise in the use of these products for therapeutic purposes are all factors contributing to the segment's expansion.

Market By End User Analysis

By End user, the Albumin Market is Categories into Hospital & Clinics, Pharmaceutical & Biotechnology Industry, and Research Institutes. The Hospital & Clinics segment accounts for the largest share of around 45% in 2022. The market is predicted to expand significantly throughout the forecast period. This dominance is due to the advent of albumin-based medicinal regimens and their application in hospital settings.

Market Regional Analysis

North America dominate the Albumin Market with the highest revenue generating market with share of more than 41%. The primary reasons for this rise are the growing number of elderly people, the escalating incidence of chronic illnesses, and the growing use of albumin-based treatments. In this regional market, the United States is the leading player, followed by Canada and Mexico.

Europe is projected to become the second-largest region in this market, showing steady growth in the long term. The aging population, the increasing burden of chronic diseases, and the rising need for albumin-based treatments are the main drivers of growth in this area. With a substantial market share, Germany dominates the albumin market in Europe. Other major producers include the UK, France, and Italy.

Asia Pacific is expected to be the fastest-growing market for Albumin during the forecast period. The increasing incidence of chronic illnesses, the growing senior population, and the developing healthcare system are all blamed for this extraordinary growth trajectory. The biggest albumin market in the Asia-Pacific area is undoubtedly China, which is followed by South Korea, Japan, and India.

Competitive Analysis

The Albumin Market is dominated by a few large companies, such as Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Grain Processing Corporation, BENEO GmbH, The Scoular Company, SÜDSTÄRKE GmbH, Sudzucker AG, Bunge Limited, Associated British Foods plc, Emsland Group, AGRANA Beteiligungs-AG, Tate & Lyle PLC, Roquette Frères and other.

There are some of the key trends that are shaping the competitive landscape of the Albumin Market.

June 2023, Sartorius AG (ALBUMEDIX) and Cell and Gene treatment Catapult (CGT Catapult) worked together to explore the use of albumin-based solutions from the company for advanced treatment applications, such as the production of viral vectors.

May 2023, AlbuminBound, paclitaxel protein-bound particles for injectable solution are a new offering from American Regent, Inc. as an alternative to Abraxane.

Research Report Following Segments:

By Product

·         Human Serum Albumin

·         Recombinant Albumin

·         Bovine Serum Albumin

By Application

·         Therapeutics

·         Diagnostics

·         Research

By End user

·         Hospital & Clinics

·         Pharmaceutical & Biotechnology Industry

·         Research Institutes