Press Release

Global Albumin Market to Increase at a CAGR of 6.20% During the Forecast Period of 2024-2032, Aided by Growing Usage of Bovine Serum Albumin in Commercial Applications

Global Albumin Market

According to a new report by EMR titled, ‘Global Albumin Market Report and Forecast 2024-2032’, the market attained a value of more than USD 5.63 billion in 2023. The industry is further expected to grow at a CAGR of 6.20% in the forecast period of 2024-2032 to reach a value of nearly USD 9.67 billion by 2032.

The global albumin market is augmented by large-scale investments aimed at pharmaceutical research and development (R&D) to discover potential applications of various albumin serums in therapeutic and commercial applications. Bovine serum albumin (BSA) is extensively used in immunology, biochemistry, biotechnology applications, and cell culture applications. This is positively impacting the growth of the market. Further, BSA is readily soluble in water and promotes good shelf life. Therefore, it is widely used as an active component in different biological reagents and influenza vaccines, stimulating market growth. The growing usage of BSA in dietary protein for fat reduction and as a biodegradable in the edible food packaging industry is positively influencing the market's overall growth. Apart from this, the market growth can further be associated with advancements in recombinant serum albumin technologies in recent years.

 

Grifols, S.A. (NASDAQ: GRFS), a leading market player in the global albumin market, recently announced the launch of ALBUTEIN FlexBag™ (Albumin [Human] U.S.P.) in 5% and 25% concentrations in November 2021. The ALBUTEIN Flex Bag features a port that is easy to use and thus minimises bubble accumulation during infusion and easy-to-spike, which avoids the usage of needles. In addition, the FlexBag also has a container that allows for simple storage and greater convenience, with no requirements for vented infusion sets or filters. Such developments by leading market players are propelling the growth of the market.

 

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Market Analysis by Type, Application, and Region:

  • Based on type, the market can be divided into bovine serum albumin, human serum albumin, and recombinant serum albumin.
  • Based on application, the market can be segmented into drug delivery, therapeutics, culture media ingredients, and vaccine ingredients, among others.
  • The major regional markets for albumin include North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

 

Key Findings of the Report:

  • The market is driven by the increasing prevalence of life-threatening cardiac and liver disorders, where HSA is used for therapeutic applications.
  • Rising research exploring the uses of HSA in commercial applications such as drug delivery, vaccination ingredient, and sealant in surgeries are augmenting the market growth.
  • Advancements in nanotechnology for drug development and improvements in protein purification and molecular technologies have been increasing the market growth.
  • The market growth can be associated with the active use of bovine serum albumin in several immunology, biochemistry, and biotechnology applications.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global albumin industry for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) markets for types, applications, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

 

The major players in the global albumin market are Akron Biotech, Takeda Pharmaceutical Company Limited, Baxter International, Inc., Biotest AG, Celgene Corporation, Novozymes A/S, CSL Behring, and Grifols, S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

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