Albumin Excipient Market: Global Industry Size, Share, Growth, Trends, Analysis, Forecast 2024-2033 | Mergers and Acquisitions, Top Major Key Players, Competitive Landscape

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.

Market Overview -
Albumin excipient is a type of protein that is found in blood. An excipient is an inactive ingredient that serves as a carrier or stabilizer for the active pharmaceutical ingredient.

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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.

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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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