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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Albumin Market Report Snapshots
Albumin Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 5.63 billion in 2023 driven by the growing demand for albumin-based drug delivery systems across the globe.
The market is anticipated to grow at a CAGR of 6.20% during the forecast period of 2024-2032, likely to reach a market value of USD 9.67 billion by 2032.
Advancements in nanotechnology for drug development, along with improvements in protein purification and molecular technologies are contributing to the increasing the market demand.
The surge in funding and investments is one of the major trends driving the albumin market. In December 2023, PlasmaGen Biosciences raised around USD 27 million via equity funding to accelerate the growth of its blood plasma-based products including albumin.
Based on the application type, the market is divided into drug delivery, therapeutics, vaccine ingredients, and culture media diagnostics.
The products in the market include human serum albumin, recombinant albumin, and bovine serum albumin.
Major end users in the market include hospitals, clinics, pharmaceutical as well as biotechnology industry, and research institutes.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Key players involved in the market are 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., and Aspira.
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