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Albumin Excipient Market Report 2023 : By CAGR, Industry Growth, Competition Analysis | Albumin Therapeutics LLC, Biotest AG, CSL Behring, Grifols S.A., HiMedia Laboratories LLC
Albumin Excipient Market Trends
The Business Research Company's Albumin Excipient Global Market Report 2023 identifies the rising prevalence of chronic diseases as the major driver for the Albumin Excipient market's growth in the forecast period. Albumin is used as a blood volumizer and is the most abundant circulating protein in plasma that acts as a versatile protein carrier for drug targeting and for improving the pharmacokinetic profile of peptide or protein-based drugs is involved in the treatment of various diseases, including cancer, and diabetes. For instance, in January 2023, according to The National Center for Biotechnology Information, the US-based National Library of Medicine, which the federal government operates, the number of people in the USA aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050.
The global albumin excipient market size is expected to grow from $4.23 billion in 2022 to $4.56 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global albumin excipient market size is expected to reach $5.91 billion in 2027 at a CAGR of 6.7%.
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Major competitors in the Albumin Excipient market are Albumin Therapeutics LLC, Biotest AG, CSL Behring, Grifols S.A., HiMedia Laboratories LLC, InVitria, Medxbio Pte Ltd., Octapharma AG, RayBiotech Inc., SeraCare Life Sciences Inc, Sigma-Aldrich Pty Ltd. (Merck KgaA), Hualan Biological Engineering Inc, Kedrion Biopharma, LFB USA Inc., and Shanghai RAAS Blood Products Co. Ltd.
A key trend in the Albumin Excipient market includes product innovations. Major companies operating in albumin excipient market are introducing innovative solutions to sustain their position in the market. For instance, in May 2020, Bio Products Laboratory (BPL), a UK-based healthcare company that develops albumin products, introduced ALBUMINEX 5% (human albumin) solution and ALBUMINEX 25% (human albumin) solution approved by The United States Food and Drug Administration, a US-based government agency.
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The Albumin Excipient market is segmented -
By Product: Human Serum Albumin, Recombinant Albumin
By End-Users: Pharmaceutical And Biotechnology Industry, Research Institutes, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Albumin Excipient market.
The Business Research Company's "Global Albumin Excipient Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Albumin Excipient Market Include:
1. Executive Summary
2. Albumin Excipient Market Characteristics
3. Albumin Excipient Market Trends And Strategies
4. Albumin Excipient Market - Macro Economic Scenario
5. Albumin Excipient Market Size And Growth
……
26. Africa Albumin Excipient Market
27. Albumin Excipient Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Albumin Excipient Market
29. Albumin Excipient Market Future Outlook and Potential Analysis
30. Appendix
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