Albumin Market 2023-2028: Report, Industry Size, Share, Growth Drivers, Analysis and Forecast

According to IMARC Group latest report titled "Albumin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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 size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.05% during 2023-2028.

What are albumin?

Albumin refers to a water-soluble globular protein produced by the liver and found in blood plasma. It is synthesized in the liver and plays a vital role in maintaining the osmotic pressure, transport, and distribution of essential substances throughout the body. It contributes significantly to the regulation of fluid balance between the blood vessels and surrounding tissues. Its osmotic pressure facilitates the movement of fluids across cell membranes, ensuring proper hydration and nutrient delivery to cells. Additionally, albumin serves as a reserve for amino acids, which are essential building blocks for protein synthesis. It is widely used as a blood volumizer to treat rare diseases, liver disorders, blood loss, shocks, surgical complications, and burns. Besides this, albumin finds extensive applications in manufacturing drug delivery systems, therapeutics, culture media, and vaccines.

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What are the growth prospects and trends in the albumin industry?

The increasing prevalence of chronic medical disorders among the masses is driving the global market. Moreover, the rising adoption of HSA in pharmaceutical preparations, such as drug formulations and vaccines, is acting as another growth-inducing factor. Apart from this, continual technological advancements in albumin production, such as improved purification techniques, recombinant albumin production, and genetic engineering, are providing a boost to the market. In line with this, researchers are continuously investigating the potential therapeutic uses of albumin, such as in drug delivery systems, tissue engineering, and wound healing, which is creating a positive market outlook. Other factors, including the introduction of albumin-based nanoparticles, along with extensive research and development (R&D) activities in the field of biotechnology, are projected to propel the market further.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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 (2017-2022)
• Market Outlook (2023-2028)
• 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.