Albumin Market Overview, Size, Industry Share, Growth, Trends, Forecast 2024-2032
According to IMARC Group latest report titled “Albumin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on albumin market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global albumin market size reached US$ 6.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.
Albumin is a vital protein found in the blood plasma and serves a multitude of essential functions within the human body. It is primarily synthesized by the liver, where it undergoes intricate biochemical processes before being released into the bloodstream. This protein plays a crucial role in maintaining the osmotic pressure of blood, which ensures the proper distribution of fluids between blood vessels and body tissues. The significance of albumin extends beyond its physiological functions, as it is widely used in clinical settings for therapeutic purposes. In medicine, albumin is utilized as a plasma volume expander to treat conditions like hypovolemia and shock, where there is a deficiency of circulating blood volume. Moreover, albumin-based products are employed in the management of severe burns, liver disease, and certain types of infections.
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Market Trends:
The global market is primarily driven by the expanding application of albumin in novel medical treatments, such as albumin-based drug delivery systems and regenerative medicine. Additionally, the rising demand for albumin in emerging economies, coupled with the growing geriatric population and prevalence of chronic illnesses, is fueling market growth. Moreover, continual advancements in albumin purification techniques and the development of recombinant albumin variants are enhancing product efficacy and widening the scope of applications is impelling market growth. Furthermore, strategic collaborations and partnerships between pharmaceutical companies and albumin manufacturers are fostering innovation and market expansion. In line with this, the increasing research activities focused on exploring the therapeutic potential of albumin in areas like wound healing, tissue engineering, and drug targeting are further impelling market growth.
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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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