The latest report by IMARC Group, titled “Albumin Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the albumin market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global albumin market size reached USD 6.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 9.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.
The global market is primarily driven by the rising prevalence of chronic diseases such as liver cirrhosis and nephrotic syndrome. Similarly, the growing number of surgical procedures and the consequent need for plasma volume expanders is significantly supporting market demand. Furthermore, the increasing use of albumin in cell culture media for vaccine production and other biotechnological applications, thereby facilitating market growth. In line with this, the expansion of the cosmetics industry, where the product is utilized for its moisturizing and anti-aging properties, is influencing the market demand.
Also, favorable government initiatives and funding for research and development in the biopharmaceutical sector is fostering the development of new products and creating lucrative opportunities in the market. Moreover, the rising demand in laboratory research and diagnostics, including its use in electrophoresis and immunoassays, is further fostering a positive market outlook.
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Market Trends:
The scope of the market indicates a promising and dynamic outlook, driven by technological advancements and increasing healthcare needs. The market scope is expected to expand due to continuous research and development efforts aimed at improving albumin production and exploring new therapeutic applications. Additionally, the increasing focus on regenerative medicine and tissue engineering, where the product plays a crucial role in cell culture and scaffolding, further catalyzing growth in the market.
As per market analysis, the expanding biopharmaceutical industry, particularly in emerging markets, is enhancing the availability and accessibility of albumin products. Moreover, the rapid integration in novel drug formulations and its use as a carrier for therapeutic agents is fueling innovation and market diversification. Strategic collaborations between research institutions, biopharmaceutical companies, and regulatory bodies is fostering the development of high-quality products and ensuring compliance with stringent safety standards.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Albumedix Ltd
- Biotest AG
- Celgene Corporation (Bristol-Myers Squibb Company)
- CSL Limited
- Grifols SA
- HiMedia Laboratories
- Medxbio Pte Ltd
- Merck KGaA
- Octapharma AG
- Takeda Pharmaceutical Company Limited
- Thermo Fisher Scientific Inc.
- Ventria Bioscience Inc
Albumin Market Segmentation:
Our report has categorized the market based on region, product, application and end use industry.
Breakup by Product:
- Human Serum Albumin
- Bovine Serum Albumin
- Recombinant Albumin
Breakup by Application:
- Therapeutics
- Drug Formulation and Vaccine
- Component of Media
- Others
Breakup by End User:
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
- Research Institutes
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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