North America Albumin Market Analysis 2021-2031

Albumin Market Outlook 2031

The global albumin market was valued at US$ 4.6 Bn in 2020

It is estimated to expand at a CAGR of 6.1% from 2021 to 2031

The global albumin market is expected to reach the value of US$ 8.1 Bn by the end of 2031

Rise in Investments for Life Sciences Catalyzing Demand for Albumin

Geographically, North America and Europe are projected to be highly attractive markets for albumin during the forecast period. Rise in investments in life sciences by a large number of biopharmaceutical companies and research institutes is expected to boost the albumin market in these regions throughout the assessment period.

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The demand for albumin is high in countries such as India and China. However, the uptake of these therapeutics is low due to the lack of awareness about these products and their therapeutic uses. Hence, awareness programs conducted by healthcare organizations 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 demand for these therapeutics in treating various conditions.

Improvements in Business Flow amid COVID-19 Outbreak Benefitting Manufacturers

Companies in the albumin market are maintaining optimum inventory levels to cater to mission-critical projects in the healthcare industry amid the ongoing coronavirus pandemic. Different regions of the world are showing signs that supply chains are recovering as the production & movement of goods are speeding up. Manufacturers based in the Western Hemisphere have been making significant progress in the past few years to secure themselves against volatility in supply from Asia, China in particular, by moving the bulk production to their respective countries.

Chemically-defined Albumin Holds Promising Potentials for Vaccine Innovation

Companies in the albumin market are launching chemically defined, blood and plant hydrolysate-free cell culture media for vaccine manufacturing that outperforms popular VERO media by enabling robust VERO cell expansion and production of difficult-to-express virus types.

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Albumin is being 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.

Technological Advancements Help Overcome High Cost Development of Albumin Therapeutics

Increase in usage of albumin as multifunctional excipient, shift toward usage of recombinant albumin, and grant of regulatory approvals are key factors that are driving the albumin market. However, high cost & expertise required to set up production plants and stringent regulatory criteria are restraining the growth rate of the market. Nevertheless, emerging markets such as India, China, Brazil, and South Africa present significant opportunities in the albumin market, owing to growing contract research manufacturing. Such findings are helping stakeholders in the albumin market to diversify their business activities in regions where regulatory standards are comparatively easier to adhere with.

Technological developments in drug formulation & drug delivery and increase in access to technologies such as use of albumin in cell culture media present lucrative opportunities for investors. Hence, investments by manufacturers in these developing markets, increase in contract research manufacturing, and rise in demand & awareness among end users are expected to boost the growth of the albumin market.

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High Prevalence of Life-threatening Disorders Augmenting Demand for Albumin

In terms of product, the human serum albumin segment is anticipated to account for major market share of approximately 80%, in terms of revenue, during the forecast period. The growth of the segment can be attributed to the increase in prevalence of life-threatening disorders & conditions, especially liver diseases, infections, and cardiac surgeries leading to hypoalbuminemia. Other factors driving the segment include rise in adoption of albumin products and increase in usage of non-therapeutic applications across the world.

Based on application, drug delivery is expected to be the most attractive segment during the forecast period. Collaboration between pharmaceutical and biotechnology companies for the use of recombinant albumin-based drug delivery systems is likely to propel the growth of the segment. In terms of end-user, the pharmaceutical & biotechnology industry segment is expected to dominate the market throughout the assessment period. The segment was valued at US$ 500 Mn in 2017. Rise in research and developmental (R&D) activities for the development of technologically advanced products and increase in government funding are attributed to the growth of the segment.

Albumin Market: Overview

According to Transparency Market Research's latest report on the global albumin market for the historical period 2017-2019 and forecast period from 2021 to 2031, rise in government support, increase in research funding, technological advancements, improved regulatory framework, and surge in prevalence of chronic liver & kidney diseases are projected to drive the global albumin market during the forecast period

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Increase in Use of Albumin as Multifunctional Excipient: Key Driver

Albumin is a protein that is abundant in blood and is necessary for blood osmotic pressure regulation
It protects proteins from oxidation by acting as a powerful antioxidant that prevents protein therapeutics from being modified. It also acts as a blocking agent to prevent non-specific adsorption to glass and plastic surfaces and prevents aggregation of protein products during manufacturing and delivery.

In the past several years, hypoalbuminemia has become more frequent across the world owing to surge in the incidence of life-threatening disorders and ailments, such as heart-disease and liver disease. Additionally, increase in acceptance of albumin products, rise in recognition of recombinant albumin, and growing emphasis on non-therapeutic applications of albumin across multiple regions contribute to the growth of the global albumin market.

Shift toward Use of Recombinant Albumin: Major Driver

Recombinant albumin has emerged as a suitable product for use as an excipient in the manufacture of bio-therapeutics in order to overcome these challenges.

In addition to preventing the spread of serum-derived disease agents, it provides benefits such as improved batch-to-batch consistency and breaking reliance on increasingly unpredictable supply chains.

The grant of approvals by national regulatory authorities for novel recombinant albumin products developed by pharmaceutical and biotechnology organizations drive the global albumin market. Moreover, in January 2022, Bio Products Laboratory (BPL), a U.K.-based prominent manufacturer of plasma protein therapies, announced that the National Medical Products Administration (NMPA) granted the company a license to commercialize ALBUMINEX 25% product in China.

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High Cost and Expertise Required to Set Up Albumin Production Plants

Extraction and processing of recombinant human serum albumin are time-consuming and expensive. Moreover, recombinant technology is subject to strict laws and regulations. Hence, it necessitates the use of expert personnel to manage operations.
The cost of refining recombinant albumin to achieve high purity is a major concern among industry players. This acts as a significant restraint of the market.

Albumin Market: Competition Landscape

This report profiles major players in the global albumin market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global albumin market is quite competitive, with the top ten players accounting for major share of the market and companies focusing on research & development to produce better pharmaceutical and vaccine products for the existing diseases
Leading players operating in the global albumin market are
Albumin Therapeutics, LLC
Albumedix A/S
CSL Behring LLC
Biotest AG
SeraCare Life Sciences (LGC)
HiMedia Laboratories Pvt. Ltd.
Grifols International, S.A.
Medxbio Pte Ltd.
InVitria
RayBiotech, Inc.
Takeda Pharmaceutical Company Limited (Shire)
Octapharma AG
Sigma-Aldrich Co. (Merck KGaA)

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