Surging Demand for Albumin as Excipient Driven by Vaccine Production and Biotech Expansion: Global Market Set to Exceed $1.7 Billion by 2031

The global albumin (as excipient) market exhibited a valuation of US$ 0.81 billion in 2021, and it is poised to experience substantial growth with a projected Compound Annual Growth Rate (CAGR) of 6.3% from 2022 to 2031. Analysts anticipate that by the conclusion of 2031, the global albumin (as excipient) market will have surpassed a value of US$ 1.7 billion.

Key Market Drivers: The surge in pharmaceutical and biotechnology companies, coupled with the increasing utilization of albumin in vaccine production, is propelling the expansion of the global albumin (as excipient) market. The versatile applications of albumin, such as its incorporation into COVID-19 vaccine development due to its efficacy in mitigating shear stress, preventing surface adsorption, and ensuring thermal stability, have been instrumental in driving market growth. Human serum albumin plays a vital role in drug delivery, drug development, and vaccine manufacturing. Notably, a shift towards recombinant albumin has been observed over recent years, driven by regulatory guidance to reduce or eliminate the usage of animal-derived components in protein-based therapeutics manufacturing. This transition aligns with regulatory authorities' recommendations. The demand for albumin (as excipient) is especially robust in Asian countries like China and India, contributing significantly to the global market's expansion.

To Explore Further, get a Sample of this Research Report at (Use Corporate Mail Id for Quick Response) -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3984

Factors Driving Market Growth: The surge in pharmaceutical and biotechnology companies, coupled with the increased utilization of albumin in vaccine production, is propelling the expansion of the global albumin (as excipient) market. Albumin's significance in COVID-19 vaccine development stems from its capacity to mitigate shear stress, prevent surface adsorption, and confer thermal stability. Human serum albumin is a pivotal component in drug delivery, drug development, and vaccine manufacturing. In recent years, there has been a noticeable shift towards recombinant albumin due to regulatory guidelines urging the reduction or elimination of animal-derived materials in protein-based therapeutic production. The escalating demand for albumin (as excipient), particularly in Asian countries like China and India, is contributing significantly to the global market's growth.

Market Trends and Outlook: The albumin (as excipient) market is on a trajectory of significant growth, propelled by a multitude of factors. The convergence of an expanding pharmaceutical sector, the versatile applications of albumin in vaccine production, and the shift towards recombinant albumin in compliance with regulatory norms are pivotal in shaping the market landscape. The market's upward trajectory is expected to persist, with the albumin (as excipient) market poised to cross the US$ 1.7 billion mark by the culmination of 2031.

The global albumin (as excipient) market is experiencing robust growth, driven by a confluence of factors including the proliferation of pharmaceutical and biotechnology enterprises, the adoption of albumin in vaccine production, and the transition to recombinant albumin in line with regulatory recommendations. With an anticipated CAGR of 6.3%, the market is projected to reach over US$ 1.7 billion by 2031. This growth underscores the pivotal role that albumin, both conventional and recombinant, plays in drug delivery, drug development, and vaccine manufacturing across the globe.

Get Customization on this Report for Specific Research Solutions -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=3984

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.