Global Albumin Market Report and Forecast 2024-2032

Global Albumin Market Outlook

The global albumin market value in 2023 was USD 5.63 billion and is anticipated to grow at a CAGR of 6.20% during the forecast period of 2024-2032, driven by the growing demand for albumin-based drug formulations across the globe. The global albumin market size is anticipated to reach a value of USD 9.67 billion by 2032.

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Global Albumin Market Overview

Albumin is the most abundant plasma protein in adult humans, representing 50% of the total protein content of the plasma. The protein has a half-life of 21 days, with a concentration ranging from 35 to 59 g/L in the blood plasma. Albumin is synthesized by the liver at the rate of 10-15 grams per day. It has approximately 100 variant forms and plays an important role in maintaining the oncotic pressure to prevent the leaking of fluids into the extravascular space.

Albumin plays several physiological roles. It is accountable for maintaining 80% of the colloid  osmotic pressure. A decrease in the level of serum albumin causes hypoalbuminemia, which is one of the most prevalent disorders In hospitalized and critically ill patients. Hypoalbuminemia has a prevalence rate of  70% in elderly hospitalized patients. Thus, the rising incidence of hypoalbuminemia is one of the key factors driving the albumin market growth.

The market is further boosted by the rising liver and cardiovascular disorders, which makes individuals prone to a low albumin levels in the body. In addition, the therapeutic and non-therapeutic applications of human serum albumin are propelling the market demand.

Technological Developments Expediating Albumin-Based Drug Delivery System

Albumin has become a popular delivery carrier for hydrophobic drugs due to advancements in nanotechnology. The surge in clinical applications is expected to boost the albumin market share in the forecast period. Owing to its unique chemical structure, albumin allows effective interaction with many drugs and protects them from elimination in vivo. In May 2023 , reverse QTY (rQTY) code was utilized to design amphiphilic human serum albumin (HAS) proteins, which resolved the problem of protein denaturation at the time of drug loading. Additionally, the HAS rQTY variants exhibited superior biological activities like tumor cell-targeting as compared to the denatured HAS nanoparticles. Such technological advancements in the drug development sector are bolstering the demand for albumin in the pharmaceutical industry.

Rise in Funding and Investment to Meet Albumin Market Demand

The pharmacokinetic and pharmacodynamic profile of albumin makes it an effective drug carrier. To exploit its versatility as a protein delivery vehicle, there has been increased funding and investment in the albumin market. In December 2023 , an Indian biopharmaceutical startup, PlasmaGen Biosciences raised around USD 27 million via equity funding to accelerate the growth of blood plasma-based products such as albumin. The company received major financing from Artian Investments (an investment management firm based in the United Kingdom) and other prominent investors.

Another major investment boosting the albumin market value was witnessed when SK Plasma, a South Korean developer  of plasma-derived medicine, received USD 50 million from the Indonesia Investment Authority (INA), a government-owned sovereign wealth fund in October 2023. The funds will be used to build a plasma fractionation plant for manufacturing blood products such as albumin and immunoglobulin. Expected to be built by 2025, the facility is projected to process a million liters of raw plasma every year. The growing investments in the albumin market are anticipated to increase the market size in the coming years.

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Global Albumin Market Segmentation

Market Breakup by Product

• Human Serum Albumin

• Recombinant Albumin

• Bovine Serum Albumin

Market Breakup by Application

• Drug Delivery

• Therapeutics

• Vaccine Ingredient

• Culture Media Diagnostics

Market Breakup by End User

• Hospitals & Clinics

• Pharmaceutical & Biotechnology Industry

• Research Institutes

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Global Albumin Market Regional Analysis

In North America, the market growth of albumin is driven by the rising research and development activities for expanding the clinical applications of human, bovine, and recombinant serum albumin. Technological advancements in protein purification and molecular separation technology are anticipated to boost market growth.

Europe holds a significant albumin market share, owing to the presence of top healthcare companies in the region. Moreover, the rising focus of government on the development of albumin-derived pharmaceuticals is propelling market growth. In June 2023,  the health authority in the United Kingdom, the Medicines and Healthcare Products Regulatory Agency (MHRA) lifted the ban on the use of blood plasma from donors of the United Kingdom to derive albumin. The authorization to use UK donor plasma to manufacture albumin treatments is expected to aid in the expansion of the albumin market in the region.

Global Albumin Market: Competitor Landscape

The expansion of manufacturing capacities and capabilities by the leading healthcare companies to accommodate the growing demand for albumin is one of the major market trends. In June 2023,  Thermo Fisher Scientific, a biotechnology company based in the United States developed a ‘Biologics Manufacturing Facility’ covering an area of 1.5 million square feet in Switzerland. Thermo Fischer Scientific, along with their strategic partner CSL Limited (a global biotechnology company) will use the facility to produce Idelvion, a next-generation hemophilia product having recombinant albumin as an essential component, among other things. The growing demand for albumin in the development of drugs is expected to increase the albumin market size in the forecast period.

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Albumedix

• Albumin Therapeutics, LLC

• Biotest AG

• CSL

• Grifols, S.A.

• HiMedia Labortatories

• Invitria

• Medxbio Pte Ltd.

• Octapharma AG

• RayBiotech, Inc.

• SeraCare

• Merck KGaA

• Takeda Pharmaceutical Company Limited

• Kedrion S.p.A.

• Aspira

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Albumin Market Report Snapshots

Albumin Market Size

Albumin Market Regional Analysis

Albumin Companies