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The global albumin market size was valued at USD 4.29 billion in 2018 and is projected to reach USD 6.77 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period.
Albumin is found abundantly in blood as a protein and is essential for regulating the osmotic pressure of the blood. The pharmaceutical companies have utilized both its physical and chemical properties for various applications. To understand and study the multiple applications of the product, manufacturing facilities have been set-up in multiple countries. Increased use of the protein with integration of recombinant DNA technology and nanotechnology has opened new opportunities for the biotechnology industries. Therefore, companies are investing massively in the market. Furthermore, the therapeutic potential of products against hypoalbuminemia has led to the development of novel drugs leading to higher sales, thus propelling the albumin market growth.
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Development of Albumin-based Nanoparticles for Drug Delivery to Elevate Growth
In the current pharmaceutical and biotechnology industry, nanotechnology has been increasingly adopted for the development of various novel techniques. Correspondingly, the industry players are utilizing this technology to advance the drug delivery techniques. Moreover, nanoparticle-based systems are proving their potential as a clinical excipient in nanomedicine. Advantages such as an excellent lyoprotectant, half-life, and several other factors represent albumin as a basic template which acts as a nano-carrier for drug delivery. Albumin-based nanoparticles have proven to be non-toxic, biocompatible, and biodegradable thus, are the ideal materials for nanotechnology-based drug delivery. These advantages are beneficial for drug delivery and are advantageous to the manufacturers in developing novel drugs. Therefore, their incorporation with nanotechnology is likely to propel the market growth during the forecast period.
Set-up of Fractionation Facilities to Drive the Market Growth
Due to various advantages, the high demand for the usage of protein in the development of drugs has increased over the years. For instance, there is a growing demand in Italy, followed by Belgium, and the U.S. This demand has led to the setting-up of multiple fractionation facilities in various countries to maintain the demand-supply balance. The fractionation facilities enable fragmentation of plasma into albumin and other plasma components. As this contains 60% of the total plasma proteins, it is advantageous for the manufacturers in developing drugs. For example, in September 2019, Biopharma, a pharmaceutical company, opened an innovative fractionator in Bila Tserkvato, Ukraine. This has allowed Ukraine to step forward in the world of medicine by setting up a plasma fractionation plant capable of producing one million liters of plasma per year. The installation of plasma fractionation plants is helping the pharmaceutical and biotechnology industries to develop innovative products for therapeutics, diagnostics, and research applications. Thus, growing demand has a significant opportunity for albumin market players in the coming years.
Increasing Use of Recombinant Albumin in Drug Delivery is likely to Promote Market Growth
In recent years, recombinant DNA technology has demonstrated a unique impact through advancements in human life. Using recombinant technique, important proteins and other components can be safely produced in the laboratory. As a technology of multidisciplinary applications, recombinant DNA technology has shown its worth in this market too. Recombinant albumin is mainly preferred by the manufacturers for R&D of innovative drugs for the treatment of hypovolemia, hypoalbuminemia, and others. The product is capable of protecting the immunological, biological, as well as the biochemical properties as that of serum and hence, is capturing the R&D sector. For instance, In August 2018, Novartis partnered with Albumedix, a U.K. based company specializing in recombinant human albumin. This agreement allowed Novartis to explore Albudemix’s platform for the development of several therapies and targets for drug delivery applications.
Stringent Government Regulations in Emerging Countries to Limit the Adoption of Products
Despite the increasing incidence of hypoalbuminemia and hypovolemia globally, certain factors such as strict government regulations and lower availability of therapeutic products are limiting the adoption of albumin. One of the major factors restraining the growth of the market is stringent government regulations imposed on the manufacturing for therapeutic application. For example, the government of the U.S. ensures that the plasma collected and distributed meets the international standards of quality, safety, and potency. Moreover, lack of therapeutic drugs for the treatment of disorders is the current challenge in the market. The factors mentioned above are responsible for restraining the market growth during the forecast period.
HSA Dominated the Global Market
Based on product, the global market is segmented into HSA, recombinant, and BSA. The HSA segment dominated the global market in 2018. Introduction of novel products in the market and higher sales of drugs for the treatment of hypoalbuminemia are the factors responsible for the dominance of the segment. The production of a large amount of human serum for research purposes is leveraging the market potential. Additionally, higher demand and use of human serum in the emerging nations for R&D and therapeutic applications are expected to drive the market for human serum during the forecast period.
The recombinant serum is projected to register a significant CAGR during the forecast period. Factors such as the absence of animal-derived products, high purity, and high homogeneity are responsible for the growth of the recombinant serum segment during the forecast period. Comparatively lower use of BSA for research and diagnostic application will mark a steady growth for this segment over the coming years.
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Growing Use of Hypovolemia Drugs for Therapeutic Applications to Aid Dominance of the Segment
In terms of application, the market is segmented into therapeutics, diagnostics, and research. Use of albumin for drug delivery has increased over the years and helped to develop novel drugs in the market. In addition, the plasma-derived therapeutics products developed by Takeda and CSL Limited have been proved to be beneficial for the treatment of the related disorders. The companies together occupy approximately 50% of the global market share. Furthermore, rising sales of drugs for hypovolemia or other disorders over the globe has led to the dominance of the therapeutic segment in the market in 2018. Along with this, heavy investments in R&D for various therapeutic applications by pharmaceuticals and biotechnological industries is likely to drive the market growth during the forecast period.
The research segment held the second position in the market in 2018. Increasing investments in R&D and clinical trials is responsible for the significant growth of the segment. For example, in July 2018, Vasyl Khmelnytsky and partners invested USD 42 million in Biopharma for the production of albumin and immunoglobulin in Ukraine. Additionally, in May 2017, Helsinn Investment Fund S.A invested USD 2 million in Aadi Bioscience, Inc., for the development of ABI-009. ABI-009 is a nanoparticle albumin-bound mTOR inhibitor under clinical trial for the treatment of perivascular epithelioid cell tumors. The diagnostic segment is projected to have a comparatively lower growth rate due to the availability of alternatives to these products.
Higher Demand from Hospitals & Clinics for Therapeutic Applications to Lead the Segment
Prescription of drugs for the treatment of associated diseases has increased in hospitals and clinics. Also, hospital admission due to hypoalbuminemia has increased the adoption of the drugs in the hospitals leading to the dominance of the segment. Growing usage of albumin in the development of new therapeutic solutions will drive the growth of the pharmaceutical and biotechnology industries during the forecast period. The pharmaceutical and biotechnology segment is projected to have the highest CAGR during the forecast period. On the other hand, demand for BSA owing to its stable nature as a protein standard in the R&D is expected to mark a comparatively higher growth of the research institute segment during the forecast period.
Asia Pacific Albumin Market Size, 2015-2026 (USD Billion)
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The global market size in Asia Pacific stood at USD 2.39 billion in 2018. The market in the region is characterized by high sale of drugs in China, coupled with the expansion of plasma fractionation facilities in the country. Growing consumption is the primary factor responsible for the dominance of China in 2018. China has surpassed other countries to become the largest market due to the highest price imposed on products. Moreover, the growth in Asia Pacific is expected to witness a higher CAGR during the forecast period owing to the expansion of manufacturing units, growing investments in R&D, and adoption of drugs in the region. The market in Europe and North America is projected to register a comparatively lower CAGR during the forecast period. The presence of advanced healthcare facilities and the availability of drugs in the region are expected to have steady market growth in North America. The market in Latin America is projected to witness significant growth during the forecast period owing to the penetration of plasma fractionation facilities to promote the manufacturing of albumin and initiate more R&D. The market in the Middle East & Africa is currently in the nascent stage. However, the development of healthcare infrastructure in these regions and the growing prevalence of hypovolemia and associated diseases are projected to fuel the market demand during the forecast period.
CSL Limited Adopts the Strategy of Acquisition to Maintain its Leading Position
The global market is highly consolidated with several major players dominating and manufacturing innovative products. CSL Limited is among the top companies having an approximate share of 30% in the global market. Owing to its acquisition of Chinese players in the market, CSL has expanded its commercial footprint across China leading to higher sales volume of the drugs. Additionally, Takeda, Grifols, S.A, and others are also investing huge sums in R&D to boost the market potential. Furthermore, the continuous investments in setting-up of fractionation units and R&D facilities are expected to drive the market growth during the forecast period. This is projected to positively impact the market as these companies are anticipated to gain higher global albumin market share during the forecast period.
The albumin market report provides a depth analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the albumin market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years. It further highlights some of the growth stimulating factors and restraints, helping the reader to gain in-depth knowledge about the market.
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Value (USD billion)
By End User
Fortune Business Insights says that the global market size is projected to reach USD 6.77 billion by 2026.
In 2018, the market value stood at USD 4.29 billion.
Growing at a CAGR of 6.0%, the market will exhibit steady growth in the forecast period (2019-2026).
Human serum albumin is expected to be the leading segment in this market during the fore-cast period.
Increasing demand for albumin globally, as well as the growing use of albumin in the develop-ment of drug delivery, are fueling market growth.
The key players in the market are CSL Limited, Takeda Pharmaceutical Company Limited, and Grifols, S.A.
Asia Pacific dominated the market share in 2018.
Growing R&D and clinical trials by market players are opening up new application areas for the market.
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