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(Medical-NewsWire.com, May 17, 2018 )
Global Albumin Market: By Type (Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin), By Application (Drug Formulation and Vaccines, Life Sciences, Culture Media Ingredient, and Others), By Distribution Channel (Biopharmaceutical and Biotechnology Companies, Academic Research Institutes, and Others), and Geography - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Albumin Market Was Valued At US $ XX Mn In 2017 And Expected To Grow At 8.1% Compound Annual Growth Rate (CAGR) Over 2018 To 2024
Market Outline: Albumin Market
Albumins belong to the family of globular proteins. All the proteins present in the albumin family are water-soluble and are moderately soluble in the concentrated salt solutions. When subjected to heat, undergo denaturation. The albumins contributes 50% to 60% of the blood plasma proteins. The most common of them are the serum albumins. The human serum albumin is the most abundant protein in human blood plasma.
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Market Dynamics: Albumin Market
Increase in the prevalence of liver disease is the major driving factor for the growth of the albumin market. The increasing instances of conditions such as trauma and shock are anticipated to drive market revenue growth over the forecast period. Growing use of the albumin in the form of an excipient in the drug delivery and increasing acceptance of the drug among the healthcare fraternity is expected to enhance the growth of the albumin market over the forecast period. However, availability of alternative therapies, dearth of the plasma, and scarcity of the blood donors are likely to hinder the growth of the market over the forecast period.
Market Scope: Albumin Market
Albumin market is segmented based on the type, application, and distribution channel
Based on the type, the market is segmented into the following:
Human Serum Albumin
Bovine Serum Albumin
Recombinant Albumin
Based on the application, the market is segmented into the following:
Drug Formulation and Vaccines
Life Sciences
Culture Media Ingredient
Others
Based on the distribution channel, the market is segmented into the following:
Biopharmaceutical and Biotechnology companies
Academic research institutes
Others
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Regional Analysis: Albumin Market
Geographically, global albumin market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific albumin market is growing due to increase in the demand for albumin. The increasing patient population requiring albumin is anticipated to drive the growth of the albumin market in this region. The increasing awareness among the patient pool is likely to enhance the growth of the albumin market in this region. Falling next to Asia Pacific are the regions of North America and Europe, which are expected to lose their share in the market owing to its preference for alternatives of albumin.
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Competition Assessment: Albumin Market
Some of the players in the global albumin market include:
Thermo Fisher Scientific (U.S)
MedxBio Pte. Ltd. (Singapore)
China Biologic Products Inc. (China)
CSL Behring LLC (U.S)
Baxter International, Inc. (U.S)
Novozymes A/S. (Denmark)
Mitsubishi Tanabe Pharma (Japan)
Sigma-Aldrich Corporation (U.S)
Octapharma AG (Switzerland)
Notable Market Developments: Albumin Market
In March 2016, CSL Behring has announced that the U.S. Food and Drug Administration (FDA) has approved IDELVION [Coagulation Factor IX (Recombinant), Albumin Fusion Protein], its novel, long-acting albumin fusion protein linking recombinant coagulation factor IX with recombinant albumin for the treatment of hemophilia B.
Archer Daniels Midland Company (U.S)
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