Albumin Market Estimated to Exceed US$ 7.7 Billion Globally By 2027

According to IMARC Group latest report titled "Albumin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on albumin market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global albumin market reached a value of US$ 5.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2027, exhibiting a CAGR of 6.15% during 2022-2027.

Albumin refers to the water-soluble globular protein present in blood plasma. It is synthesized in the liver and is essential for maintaining the blood volume and transportation of enzymes, bile salt molecules, hormones, etc. Albumin is widely available in human, bovine, and recombinant variants. It is vital for sustaining the intravascular colloid osmotic pressure (COP) and preventing leakage of fluids into the tissue. Albumin is utilized as a blood volumizer to treat rare diseases, burns, liver disorders, blood loss trauma, etc. As a result, it finds extensive applications in drug delivery systems, therapeutics, culture media, vaccines, etc.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

The growing prevalence of chronic medical ailments across the globe is primarily driving the albumin market. In line with this, the expanding geriatric population, which is more susceptible to such conditions, is also propelling the market growth. Furthermore, the escalating utilization of albumin for the development of drugs and stable vaccine formulations is catalyzing the product demand. Besides this, the increasing adoption of human serum albumin (HSA) to replenish proteins in the human plasma and maintain plasma colloid oncotic pressure is acting as another growth-inducing factor. Additionally, the introduction of product-based nanoparticles and the rising number of R&D activities in the field of biotechnology are projected to bolster the albumin market in the coming years.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.
• Albumedix Ltd
• Biotest AG
• Celgene Corporation (Bristol-Myers Squibb Company)
• CSL Limited
• Grifols SA
• HiMedia Laboratories
• Medxbio Pte Ltd
• Merck KGaA
• Octapharma AG
• Takeda Pharmaceutical Company Limited
• Thermo Fisher Scientific Inc.
• Ventria Bioscience Inc

Albumin Market Segmentation:
Our report has categorized the market based on region, product, application and end use industry.

Breakup by Product:
• Human Serum Albumin
• Bovine Serum Albumin
• Recombinant Albumin

Breakup by Application:
• Therapeutics
• Drug Formulation and Vaccine
• Component of Media
• Others

Breakup by End User:
• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Research Institutes

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.