SELBYVILLE, Del., Oct. 29, 2024 (Globe Newswire) —
The albumin market size is expected to reach USD 10.1 billion by 2032. Advances in albumin manufacturing technology and increasing adoption of albumin in clinical applications will stimulate industry development from 2024 to 2032.
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Albumin is widely used in therapeutic areas such as the treatment of liver diseases, hypovolemia, and hypoalbuminemia, as well as its role in drug delivery and vaccine formulations, increasing its demand.
In February 2024, CSL, a global biotechnology leader, announced its first study evaluating the efficacy and safety of CSL112 (apolipoprotein AI (human)) compared to placebo in reducing the risk of major cardiovascular events. Reported key results from the phase 3 AEGIS-II trial. (MACE) in patients after acute myocardial infarction (AMI).
The albumin market is poised to make significant advances as healthcare infrastructure expands and more patients require albumin-based treatments.
Bovine serum albumin attracting attention
The bovine serum albumin (BSA) segment is expected to witness significant growth from 2024 to 2032. This evolution can be attributed to the increased use of BSA in pharmaceutical research, diagnostics, and biotechnology applications. BSA is widely used as an immunoassay standard, an enzyme stabilizer, and a blocking agent in molecular biology. The growing demand for high-quality BSA in laboratories and research institutions is accelerating the expansion of this field. Additionally, increased focus on producing animal-free alternatives that meet stringent regulatory standards will foster innovation in this area.
Clinical applications that drive market expansion
The clinical applications albumin market will witness robust growth during the forecast period due to the increasing use of albumin in various medicines. Therapeutic uses of albumin include use as a drug carrier in volume replacement therapy, shock therapy, and targeted drug delivery systems. The increasing prevalence of chronic diseases such as liver cirrhosis, nephrotic syndrome, and burn injuries, which often require albumin therapy, is increasing demand in this field.
Europe leads market growth
Europe has established a notable presence in the global albumin market and is expected to register impressive CAGR from 2023 to 2032. The region’s development is driven by strong medical infrastructure, increased research and development investment, and a growing elderly population. Countries such as Germany, the United Kingdom, and France lead in terms of demand due to high prevalence of chronic diseases and widespread use of albumin in medicine. Additionally, favorable regulatory framework and presence of major market players in the region are accelerating market expansion.
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major market players
Companies operating in the albumin market include China Biologic Products Holdings Inc., Akron Biotech, Baxter International Inc., Albumedix Ltd, Grifols (Biotest AG), Octapharma AG, Bristol-Myers Squibb Company, CSL Behring LLC, Includes Merck & Co., Inc. , Thermo Fisher Scientific
These companies are increasing their market share through strategic partnerships, R&D investments, and innovative product launches. By providing comprehensive support services such as clinical training and technical assistance, leading companies improve customer satisfaction and foster long-term relationships. These strategies, combined with a focus on product innovation, are helping companies strengthen their competitiveness in rapidly evolving markets.
For example, in October 2022, Grifols announced the expansion of albumin production capacity to meet growing demand in the European market.
In July 2024, CSL Behring, a world leader in biotechnology, announced that two hemophilia B patients have been treated with the gene therapy HEMGENIX® (etranacogen dezaparvovec) at its French hemophilia treatment center. . This important milestone marks HEMGENIX® as the first gene therapy to be administered as a treatment for hemophilia B in a real-world setting in Europe.
Part of the report’s Table of Contents (ToC):
Chapter 1 Methodology and Scope
1.1 Market scope and definition
1.2 Basic estimation and calculations
1.3 Data collection
1.4 Prediction parameters
1.5 Data validation
1.6 Data sources
1.6.1 Primary
1.6.2 Secondary
1.6.2.1 Paid sources
1.6.2.2 Unpaid sources
Chapter 2 Summary
2.1 Industry 3600 Overview
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Influence on the industry
3.2.1 Drivers of growth
3.2.1.1 Increased prevalence of chronic diseases
3.2.1.2 Increased non-therapeutic applications of albumin
3.2.1.3 Increased demand for albumin in research and development activities
3.2.1.4 Technological advances in biotechnology
3.2.2 Industry pitfalls and challenges
3.2.2.1 Irrational use and side effects of albumin
3.2.2.2 Strict regulatory requirements
3.3 Growth potential analysis
3.4 Regulatory status
3.5 Technical outlook
3.6 Porter’s analysis
3.6.1 Supplier Power
3.6.2 Buyer Power
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.6.5 Industry competition
3.7 PESTEL analysis
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