Market Analysis: Global Albumin Market
Global Albumin Market is set to rise from its initial estimated value of USD 791.25 million in 2018 to an estimated value of USD 1214.32 million in 2026, registering a CAGR of 5.5% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in production of immunoglobulins and the development of plant based albumin
Market Definition: Global Albumin Market
Albumin is a protein produced in the liver. In precise terms, it is a water soluble globular protein that circulates in plasma. It forms about 50% of blood plasma proteins. Albumins play an essential role as transporters for molecules such as bile salts, and few other hormones and in regulation of volume of blood . It is also used to voluminize blood in trauma surgeries, liver conditions, trauma surgeries, shocks, and rare diseases.
In May 2017, Food and Drug Administration of China approved the clinical trials of human blood albumin that was produced from transgenic rice seeds.
- Rising demand of albumins in research and development activities is expected to drive the market growth
- Increase in the use of albumin for non-therapeutic applications is also expected to drive the market growth
- Adverse reactions and unreasonable use of albumin is expected to restrain the market growth
- Strict regulations by government authorities is also expected to restrain the market growth
Segmentation: Global Albumin Market
- By Type
- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin Application
- Drug Delivery
- Culture Media
- Vaccine Ingredient
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In November 2018, Octapharma announced the grant of marketing authorization to its new fibrinogen concentrate product fibryga by Swiss Agency for Therapeutic Products, Swissmedic. It is used for the treatment of acquired and congenital fibrinogen deficiencies
- In May 2015, Serendex Pharmaceutical initiated phase I trials of a drug candidate known as Molgradex that would help in treatment of rare pulmonary diseases. The drug candidate uses Novozymes’s recombinant human albumin, Recombumin, used for the effective delivery of the biologic to lungs.
Competitive Analysis: Global Albumin Market
Global albumin market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of albumin market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Albumin Market
Few of the major competitors currently working in the albumin market are Octapharma , CSL Behring LLC, Baxter International, Inc, HiMedia Laboratories, MedxBio Pte. Ltd., Novozymes A/S., Mitsubishi Tanabe Pharma, Sigma-Aldrich Corporation, China Biologic Products Inc., and Thermo Fisher Scientific, Biotest AG, Kedrion S.p.A, Celgene Corporation, Grifols, S.A., InVitria, , Albumin Therapeutics, LLC, . RayBiotech, Inc., SeraCare Life Sciences, Albumedix, among others.
Research Methodology: Global Albumin Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report:
- Current and future of global albumin market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)