Pros of Albumin: Albumin are used in replacing blood volumes loss which is resulted from trauma such as injury or severe burns that cause blood loss. The high occurrence of liver diseases across globe has driven albumin market growth.
Cons of Albumin: Reactions to albumin such as flushing, mild hypotension, urticaria, nausea, fever are the side-effects of albumin which restrain market growth.
Key Highlights –
- In May 2023, American Regent Inc., launched new Paclitaxel Protein-Bound Particles for injectable suspension (Albumin-Bound) as an alternative to Abraxane. The new launched product is indicated for treatment of non-small cell lung cancer, metastatic breast cancer and metastatic adenocarcinoma of the pancreas.
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Albumin Market growth:
Rising Demand in Therapeutic Applications: Albumin’s significance in therapeutic applications, particularly in the pharmaceutical and biotechnology sectors, has fueled its demand. It is widely used in the development and manufacturing of drugs and vaccines.
Expanding Biopharmaceutical Industry: The growth of the biopharmaceutical industry, with a focus on innovative treatments and biologics, has significantly contributed to the expansion of the Albumin market. Albumin’s versatile applications make it a valuable component in drug formulation.
Increased Research and Development Activities: Ongoing research and development activities in the healthcare and life sciences sectors have led to the discovery of new applications for albumin, further driving market growth. This includes its use in novel drug delivery systems and medical devices.
Growing Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases, such as liver disorders, cardiovascular diseases, and infectious diseases, has heightened the demand for albumin-based therapies and treatments.
Global Aging Population: As the global population ages, there is a growing need for medical interventions and therapies. Albumin, with its diverse applications, plays a crucial role in meeting healthcare requirements for elderly populations.
Albumin Market future outlook:
Expanding Therapeutic Applications: The therapeutic applications of albumin are expected to broaden, with ongoing research exploring its potential in new treatment modalities. Albumin’s role in drug delivery, regenerative medicine, and personalized medicine is likely to expand, opening up novel avenues for market growth.
Customized Albumin Solutions: Manufacturers may focus on developing customized albumin solutions tailored to specific therapeutic needs. This could involve the creation of specialized formulations for different patient populations or disease conditions, enhancing the versatility of albumin in medical applications.
Biotechnological Advancements: Advances in biotechnology, including genetic engineering and recombinant DNA technology, may lead to the development of next-generation albumin products. Engineered albumin with enhanced properties or specific functionalities could become a key focus, driving innovation in the market.
Rising Demand in Emerging Markets: As healthcare infrastructure improves in emerging markets, the demand for albumin is likely to increase. The growing middle-class population with increased healthcare awareness in these regions presents opportunities for market expansion.
Focus on Sustainable and Scalable Production: Manufacturers may invest in sustainable and scalable production methods for albumin to meet the rising demand efficiently. This could involve the use of bioreactors, cell culture technologies, and environmentally friendly practices to ensure a stable and eco-conscious supply chain.
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Report Scope:
| Attribute | Details |
| Base year for estimation | 2018 |
| Forecast period | 2018 – 2026 |
| Market representation | Revenue in USD Million & CAGR from 2018 – 2026 |
| Market Segmentation | By Product – Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin
By Application– Fuel Cell, Lithium-Ion, Lithium Polymer, and Nickel Cadmium |
| Regional scope | North America – U.S., Canada
Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America – Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Key players:
- China Biologic Products Inc.
- Ventria Bioscience
- Shire Plc
- Merck KGaA
- CSL Limited
- Octapharma AG
- Albumedix Ltd.
- Thermo Fisher Scientific
- Baxter International Inc.
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