Transparency Market Research has published a latest
report that talks in detail about the global albumin market. According to the research report, the global albumin
market is expected to reach a valuation worth US$1200 mn by the end of 2026. To
achieve this valuation, the market is expected to grow at a rate of 5% CAGR
over the course of the given forecast period of 2018 to 2026.
Asia Pacific Region to
Showcase Maximum Growth Potential
According to the research report, the Asia Pacific region
is expected to show maximum growth potential as compared to the other regional
segments of North America, Latin America, Europe, and Middle East and Africa.
The growth of the Asia Pacific region is high because of the growing demand for
albumin in countries such as India and China. However, the rate of adoption is
slightly lower due to lack of awareness and benefits of the product and its
therapeutic benefits. Precisely keeping this in mind, the government and
healthcare regulatory bodies have initiated several awareness campaigns. This
has been particularly helpful for the growth of the albumin market in the
region. Organization such as PPTA have conducted awareness programs such as
International Plasma Awareness Week to aid in boosting the awareness about
donation of plasma. It also raised awareness about the different therapeutic
benefits of and plasma protein therapies available in the market. This has thus
helped in the overall development of the albumin market in the Asia Pacific
region.
The biotechnology and pharmacy industry segment is
expected to dominate the global albumin market in the coming years of the
forecast period. The segment was initially valued at US$500 mn in the year
2017. The growing research and development activities across the industry is
helping to drive the growth of the global albumin market. This coupled with the
growing investments provided by both private as well as public sector is also
expected to help in the growth of the global albumin market.
Drug Delivery Segment to
Continue to Dominate
The drug delivery segment accounts for nearly 25% of the
overall market share in 2017. This trend is projected to continue over the
course of the given forecast period. The usage of human serum albumin
nanoparticles as a favored drug delivery system with applications for a wide
range of diseases is expected to help the growth of the global market. The
ongoing collaborations and joint ventures among the leading manufacturers in
the global albumin market is expected to provide significant boost to the
growth of the market. For example, in May 2015, Serendex Pharmaceutical
announced that the company has initiated the phase I trials of Molgradex. This
drug candidate is used for treating rare pulmonary diseases. The drug uses
Novozymes’ Recombumin, a recombinant human albumin for more effective delivery
of the therapeutic to the lungs.
The competitive landscape of the global albumin market is
a consolidated one and features only a handful of leading players. Some of the
big names in the global albumin market include names such as Octapharma AG,
Baxter, Grifols International SA, and CSL Behring LLC. The newer and promising
entrants in the albumin market refer to the established brands that are keen on
developing and manufacturing albumin as an excipient. Moreover, the leading
players in the market are adopting strategies such as merger, acquisitions, and
joint ventures to stay ahead of the competitive curve.
This review is based on the research report published by
Transparency Market Research titled,
“Albumin (as Excipient) Market (Product - Human Serum Albumin,
Recombinant Albumin; Application - Human Serum Albumin Applications ( Drug
Formulation, Drug Delivery, Vaccines, Medical Device Coating, Culture Medium
& Stabilizer, Diagnostics, In Vitro Fertilization), Recombinant Albumin
Applications, Serum Albumin Applications (Drug Formulation, Drug Delivery,
Vaccines, Medical Device Coating, Culture Medium & Stabilizer, Diagnostics,
In Vitro Fertilization); End use - Pharmaceutical & Biotechnology Industry,
Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2018-2026”
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