Prominent albumin market players include Apotex Inx., Octapharma AG, Bio Med International Pvt. Ltd., Baxter, Novozymes, Mitsubishi Tanabe Pharma America Inc., Merck KGaA, Akron Biotech, Thermo Fisher Scientific, and Grifols, S.A.
New York, Oct. 02, 2023 (GLOBE NEWSWIRE) — The global albumin market size is slated to expand at ~ 6% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 10 Billion by the end of 2035, up from a revenue of ~USD 5 Billion in the year 2022. The rising cases of cardiovascular disorders are a major driver factor for the market growth. According to the World Health Organization, around 18 million people’s lives are claimed every year due to cardiovascular illness, which is the leading cause of death all across the world. CVDs are an assortment of heart and blood vessel disorders comprising coronary heart disease, cerebrovascular disease, rheumatic heart disease, and others. Heart attacks and strokes account for more than four out of every five CVD deaths, and one-third of these fatalities take place among adults under the age of 70. In the acute and distant phases of acute coronary syndrome (ACS), albumin levels have already been shown to be beneficial for anticipating cardiac outcomes such as cardiovascular death and admissions for heart failure (HF).
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Albumin Market: Key Takeaways
- Albumin Market in North America region to propel the highest growth
- The Human Serum segment to garner the highest growth
- Market in the Asia Pacific to grow at the highest rate
Rising Innovation in Drug Delivery Systems to Boost the Growth of the Albumin Market
Albumin is used in the development of drug delivery systems, it is used as a stabilizer or carrier in the process. It easily binds with various substances and carries them forwards; therefore, it is a great enzyme for delivering drugs. Albumin interacts with ligands that are exogenous such as warfarin, penicillin, and diazepam as well as natural ligands such as fatty acids. AstraZeneca intends to tap undiscovered biology by developing new ways for advanced drug delivery systems. These prospective new medicines differ in contrast to conventional small molecules and current large molecules, which are frequently targeted at cell surface targets or supplied without a specialized molecular-targeting strategy.
Albumin Market: Regional Overview
The global albumin market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Instances of Heart Surgeries is Expected to Elevate the Growth of the Market in North America Region
The market in the North America region is predicted to capture a share of 35 % in the upcoming years. In the United States, in both males and females, heart disease is the top cause of death. The market for cardiac surgery in the United States is quickly expanding, owing to the expansion of numerous underlying treatments. These treatments include surgical heart valve replacement, coronary artery bypass grafting, annuloplasty repair procedures, ventricular assist devices, septal defect closures, and others. According to a new heart surgery market analysis, the annual total of cardiac surgeries in the United States surpasses 900,000 per year, with forecasts of 1.3 million by 2029.
The surge in the Number of Liver-Disease Deaths is to Elevate Market Growth in the Asia-Pacific
The Asia Pacific is anticipated to show a significant share by the end of 2035. The region is responsible for around 62.6 percent of the world’s 209,207 liver disease deaths that year. The average share of deaths caused by liver disease in Asian countries was nearly 39%. Albumin has been routinely used in individuals with cirrhosis in an attempt to enhance their circulatory and renal functioning. Furthermore, the presence of prominent players in albumin development is also expected to boost the market growth in the region. Beijing Strong Biotechnologies, Inc. came out to be the second-largest developer of glycated albumin assay.
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Albumin, Segmentation by Type
- Recombinant Albumin
- Human Serum Albumin
- Bovine Albumin
Out of all, the human serum albumin segment is expected to dominate the market revenue over the projected time frame. The growth of the segment is attributed to growing cases of hemorrhages in the world. According to the World Health Organization, approximately 14 million women suffer from PPH each year, which causes approximately 70,000 maternal fatalities worldwide. Although many of the women survive, they frequently require immediate therapeutic surgery to manage their bleeding and might end up left with permanent reproductive impairment. Human serum albumin is used to manage a variety of medical conditions, including blood loss, burns, hemorrhage, hypovolemia, and shock.
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Albumin, Segmentation by Application
- Drug Formulation & Vaccines
- Therapeutics
- Research
The therapeutic segment is the leading segment among all. Albumins are widely used in the therapies of severe burn cases. The patients were evaluated between 4 and 14 (median, 7) days after sustaining a burn injury that covered 7-48% of the total body surface area. In both groups, the albumin solution increased the volume of blood by more than 15%, which is about twice the injected amount. The rising cases of severe burns are expected to boost the segment’s growth. According to the World Health Organization, 11 million burn injuries of all varieties occur worldwide each year, out of which 180,000 are lethal.
Albumin, Segmentation by Grade
- Food Grade
- Diagnostic Grade
- Reagent Grade
A few of the well-known market leaders in the global albumin market that are profiled by Research Nester are Apotex Inx., Octapharma AG, Bio Med International Pvt. Ltd., Baxter, Novozymes, Mitsubishi Tanabe Pharma America Inc., Merck KGaA, Akron Biotech, Thermo Fisher Scientific, and Grifols, S.A.
Recent Developments in the Market
- Apotex Corp. has recently introduced Paclitaxel, a generic type of Abrazane, it is a substance that binds with protein for injections. The Paclitaxel injection is specifically designed for curing people living with adenocarcinoma of the pancreas, breast cancer, non-small cell lung cancer, and metastatic breast cancer.
- Grifols, S.A. has announced the development of Albutein FlexBag with a percentage concentration of 5 and 25. It enables healthcare to have an option of much ecologically accepted packaging solutions for medicines, drugs, and other equipment.
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