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Albumin Excipient Market Outlook 2024: Exclusive Report By The Business Research Company |Albumin Therapeutics LLC,Biotest AG,CSL Behring,Grifols S.A.,HiMedia Laboratories LLC,InVitria In
Albumin Excipient Market Size
The Business Research Company offers in-depth market insights through Albumin Excipient Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The albumin excipient market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to biopharmaceutical industry growth, increased adoption of biologics, risen prevalence of chronic diseases, clinical advancements and drug innovation, increased focus on drug delivery.
The albumin excipient market size is expected to see strong growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to continued biopharmaceutical expansion, growing biologics pipeline, rising geriatric population, global vaccination initiatives, increasing drug development investments. Major trends in the forecast period include biodegradable and biocompatible properties, collaborations and partnerships in research, regulatory compliance and quality standards, application in cell therapy, customization and tailored solutions.
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Market Segmentation:
The albumin excipient market covered in this report is segmented -
1) By Product: Human Serum Albumin, Recombinant Albumin
2) By End-Users: Pharmaceutical And Biotechnology Industry, Research Institutes, Other End Users
Major Driver - Chronic Disease Rise Fuels Albumin Excipient Market Growth
The rising prevalence of chronic diseases is expected to propel the growth of the albumin excipient market going forward. A chronic disease is a form of illness that lasts three months or more and can deteriorate with time. 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. Therefore, the rising prevalence of chronic diseases is driving the growth of the albumin excipient market.
Competitive Landscape:
Major companies operating in the albumin excipient market report are Albumin Therapeutics LLC,Biotest AG,CSL Behring,Grifols S.A.,HiMedia Laboratories LLC,InVitria Inc.,Medxbio Pte Ltd.,Octapharma AG,RayBiotech Inc.,SeraCare Life Sciences Inc.,Sigma-Aldrich Pty. Ltd., Hualan Biological Engineering Inc.,Kedrion Biopharma,LFB USA Inc.,Shanghai RAAS Blood Products Co. Ltd.,Baxter International Inc.,Bristol-Myers Squibb Company,Merck KGaA,Thermo Fisher Scientific Inc.,Albumedix A/S, Bio Products Laboratory Ltd.,Shire Plc.,Ventria Bioscience Inc.,Novartis AG,China Biologic Products Holdings Inc.,ProMetic Life Sciences Inc.,Sanquin,Biopharma,Takeda Pharmaceutical Company Limited,FUJIFILM Irvine Scientific Inc.
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Top Trend - Innovative Product Strategies Propel Market Growth
Product innovations are a key trend gaining popularity in the albumin excipient market. Major companies operating in the albumin excipient market are introducing innovative solutions to sustain their position in the market. For instance, in November 2021, Grifols, S.A., a Spain-based healthcare company, introduced ALBUTEIN FlexBag (Albumin [Human] U.S.P.) in 5% and 25% concentrations, providing healthcare professionals with a more convenient option. The 5% concentration received U.S. Food and Drug Administration (FDA) approval in July 2021, featuring 250 mL and 500 mL bags, while the 25% concentration, approved earlier in the year, offers 50 mL and 100 mL bags. The ALBUTEIN FlexBag is available in various sizes and presented in an eco-friendly bag without plasticizers, offering a sustainable choice for healthcare professionals.
The Table Of Content For The Market Report 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
…..
27. Albumin Excipient Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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