Albumin (as Excipient) Market is Likely to Reach a Value of US$ 1.7 Bn by the End of 2031

Albumin (as Excipient) Market: Introduction

According to the report, the global albumin (as excipient) market was valued at US$ 891.7 Mn in 2020 and is projected to expand at a CAGR of 6.2% from 2021 to 2028. Albumin is a water-soluble globular protein produced in the liver. It accounts for 50% of blood plasma proteins. These play a vital role in regulating blood volume and act as transporters for molecules such as hormones, bile salts, and ions.

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Albumin is commonly used as blood volumizer in rare diseases, burns, shocks, liver conditions, and other blood loss trauma and surgeries. However, usage of albumin as multifunctional excipient is increasing due to rise in consumption of albumin for applications such as drug formulation, vaccines, drug discovery, culture medium, stabilizing agent, and diagnostics.

Albumin has been widely used as a versatile drug carrier in systems such as albumin fusion protein, albumin-drug nanoparticles, and pro-drugs. It is used as a drug carrier for the treatment of various diseases such as rheumatoid arthritis, diabetes, cancer, and hepatitis. It also has the ability to bind to extraordinarily diverse range of molecules, as it provides depository for various compounds. These factors make albumin most suitable to be used as an excipient in vaccine and drug production.

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Asia Pacific was the largest market for albumin (as excipient) in 2020. The region dominated the global market due to substantial investments in the field, strong economic growth, increase in research & development expenditure, and rise in consumption of albumin.

North America is projected to be a highly lucrative market for albumin (as excipient) during the forecast period. The market in the region is anticipated to expand at a high CAGR during the forecast period. Grant of regulatory approvals and subsequent albumin-based product launches in the region are expected to drive the market in the region.

Increase in Usage of Albumin as Multifunctional Excipient to Drive Market

Human serum albumin (HSA) offers unique properties such as half-life of 15 to 20 days and remarkable stability which helps in easier handling and storage compared to typical proteins. Albumin helps in protecting proteins against oxidation, as it works as a potent antioxidant inhibiting the modification of protein therapeutics. It also restricts aggregation of protein products during the manufacture and delivery of the products and acts as a blocking agent to prevent nonspecific adsorption to glass and plastic surfaces.

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Recombinant Albumin Segment to Dominate Global Market

In terms of product type, the global albumin (as excipient) market has been bifurcated into human serum albumin and recombinant albumin. The recombinant albumin segment accounted for leading share of the global albumin (as excipient) market in 2020. The demand for recombinant proteins is rising across the globe due to less chance of infections. Recombinant human serum albumin has insignificant immunogenicity in a patient's body, which reduces the chances of antibody formation against it and the drug candidate. rHSA acts as a multifunctional excipient to stabilize the drug product by reducing oxidation, aggregation, and surface adsorption. These features make rHSA a preferred choice as an excipient in drug formulations. Several vaccines are produced using recombinant albumin as an excipient such as MMR, MMRV, and rotavirus vaccine live.

Drug Delivery to be Highly Lucrative Application

Based on application, the global albumin (as excipient) market has been classified into human serum albumin applications (drug formulation, drug delivery, vaccines, medical device coating, culture media & stabilizers, diagnostics, in vitro fertilization) and recombinant albumin applications (drug formulation, drug delivery, vaccines, medical device coating, culture media & stabilizers, diagnostics, and in vitro fertilization). The drug delivery sub-segment accounted for major share of the human serum albumin applications segment in 2020 due to usage of human serum albumin nanoparticles as drug delivery systems with applications in various diseases such as cancer. The drug delivery sub-segment held leading share of the recombinant albumin segment in 2020.

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Pharmaceutical & Biotechnology Industry Segment to Dominate Market

In terms of end-user, the global albumin (as excipient) market has been divided into pharmaceutical & biotechnology industry, research institutes, and others. The pharmaceutical & biotechnology industry segment dominated the global albumin (as excipient) market in 2020. Rise in research & developmental activities for development of technologically advanced products and increase in government funding have led the growth of the segment. Recombinant human serum albumin is used in the life sciences industry for a range of applications including component of cell and microbial culture media, blocking agent in blotting, growth supporter in recombinant DNA, and hybridoma technology. This is likely to boost the growth of the segment.

Asia Pacific to Dominate Global Market

In terms of region, the global albumin (as excipient) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global albumin (as excipient) market in 2020, followed by Europe. North America's dominance can be attributed to increase in diagnostic facilities and focus of existing & new players on the region.

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Asia Pacific is the leading market for albumin (as excipient), due to the demand for albumin is high in countries such as India and China. However, uptake of these therapeutics is low due to lack of awareness about these products and their therapeutic uses. Hence, awareness programs conducted by organizations such as PPTA, which include International Plasma Awareness Week, to help increase awareness about plasma donation and the different plasma protein therapies available, along with their potential uses are expected to increase the uptake of these therapeutics in treating various conditions.

Emerging markets in North America hold immense growth potential due to initiatives taken by the government to promote health care and robust economic growth.

Competition Landscape

The global albumin (as excipient) market is fragmented in terms of number of players. Key players in the global albumin (as excipient) market include Albumedix A/S (Novozyme A/S), Albumin Therapeutics, LLC, Biotest AG, CSL Behring LLC, Grifols International, S.A, HiMedia Laboratories Pvt. Ltd., InVitria, Medxbio Pte Ltd., Octapharma AG, RayBiotech, Inc., SeraCare Life Sciences, and Sigma-Aldrich Co. (Merck KGaA).

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