Albumin Excipient Global Market Report 2024

“Albumin Excipient Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on albumin excipient market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for albumin excipient? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The albumin excipient market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Product: Human Serum Albumin; Recombinant Albumin
• 2) By End-Users: Pharmaceutical And Biotechnology Industry; Research Institutes; Other End Users
• Companies Mentioned: Albumin Therapeutics LLC; Biotest AG;CSL Behring; Grifols S.A.;HiMedia Laboratories LLC
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Albumin excipient refers to a protein derived from blood, serving as an inactive ingredient in pharmaceutical formulations. As an excipient, it functions as a carrier or stabilizer for the active pharmaceutical ingredient.

The primary product types of albumin excipients include human serum albumin and recombinant albumin. Human serum albumin, the principal protein synthesized by the liver and found in human plasma, is a key component. These albumin excipients find applications across various end-users, including the pharmaceutical and biotechnology industry, research institutes, and other related fields.

The albumin excipient market research report is one of a series of new reports from The Business Research Company that provides albumin excipient market statistics, including albumin excipient industry global market size, regional shares, competitors with an albumin excipient market share, detailed albumin excipient market segments, market trends and opportunities, and any further data you may need to thrive in the albumin excipient industry. This albumin excipient market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The albumin excipient market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to several factors, including the expansion of the biopharmaceutical industry, an increased adoption of biologics, a higher prevalence of chronic diseases, advancements in clinical practices and drug innovation, and a heightened focus on drug delivery.

The albumin excipient market size is expected to see strong growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to the sustained expansion of the biopharmaceutical industry, an increasing pipeline of biologics, a rise in the geriatric population, global initiatives for vaccination, and escalating investments in drug development. Key trends expected in the forecast period encompass properties such as biodegradability and biocompatibility, collaborative efforts and partnerships in research, adherence to regulatory compliance and quality standards, applications in cell therapy, as well as a focus on customization and tailored solutions.

The increase in the prevalence of chronic diseases is poised to drive the growth of the albumin excipient market in the future. Chronic diseases, characterized by lasting three months or more and potentially worsening over time, are becoming more prevalent. Albumin, recognized as the most abundant circulating protein in plasma, serves as a blood volumizer and plays a crucial role in the treatment of various diseases, including cancer and diabetes. Its versatile nature makes it an ideal protein carrier for drug targeting, contributing to the enhancement of the pharmacokinetic profile of peptide or protein-based drugs. As per January 2023 data from The National Center for Biotechnology Information, a US-based National Library of Medicine operated by the federal government, the number of individuals in the USA aged 50 and older with at least one chronic condition is projected to increase by 99.5%, rising from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the escalating prevalence of chronic diseases is a key driver behind the growth of the albumin excipient market.

The increase in healthcare expenditures is also expected to significantly contribute to the expansion of the albumin excipient market in the foreseeable future. Healthcare expenditures encompass all costs related to providing health services, family planning activities, nutrition programs, and emergency assistance with a primary focus on health. The upward trajectory of healthcare expenditures positively influences the albumin excipient market, providing substantial financial support for the development and utilization of advanced albumin-based formulations in pharmaceuticals and biopharmaceuticals. As reported in June 2023 by the Centers for Medicare & Medicaid Services, a US-based federal agency, healthcare expenditure in the United States witnessed a 2.7% increase, reaching a total of $4.3 trillion, equivalent to $12,914 per person in 2021. This accounted for 18.3% of the nation's gross domestic product. Therefore, the rise in healthcare expenditures emerges as a significant factor driving the growth of the albumin excipient market.

The adoption of product innovations is a prominent trend gaining traction in the albumin excipient market, with major companies introducing inventive solutions to maintain their positions. For instance, in November 2021, Grifols, S.A., a Spain-based healthcare company, launched ALBUTEIN FlexBag (Albumin [Human] U.S.P.) in 5% and 25% concentrations, providing healthcare professionals with a more convenient option. The 5% concentration received approval from the U.S. Food and Drug Administration (FDA) in July 2021, featuring 250 mL and 500 mL bags, while the 25% concentration, approved earlier in the year, offers 50 mL and 100 mL bags. ALBUTEIN FlexBag is available in various sizes and presented in an eco-friendly bag without plasticizers, providing a sustainable choice for healthcare professionals.

Major companies in the albumin excipient market are also engaging in collaborations to foster new relationships and jointly develop innovative medicines. In June 2023, Albumedix Ltd., a UK-based pharmaceutical company, expanded its collaboration with Valneva SE to include Valneva's newly approved inactivated COVID-19 vaccine, VLA2001. This collaboration aims to address significant unmet medical needs, with Albumedix's rHA making a substantial contribution to the vaccine's manufacturing process. Valneva SE, a France-based biotech company, specializes in the development, manufacturing, and commercialization of prophylactic vaccines for infectious diseases, including VLA2001, the only whole virus, inactivated, adjuvanted vaccine candidate in clinical trials against COVID-19 in Europe.

In September 2022, Sartorius AG, a Germany-based pharmaceutical and laboratory equipment manufacturer, made a strategic acquisition by purchasing Albumedix for $503 million. This acquisition strengthens Sartorius Inc.'s cell culture media business by expanding its portfolio of bioprocess solutions. This strategic move enhances Sartorius Inc.'s capabilities and market presence in the rapidly evolving field of bioprocessing. Albumedix, a UK-based company, focuses on the development and manufacturing of recombinant human albumin products, contributing to the advancement of biopharmaceuticals.

Major companies operating in the albumin excipient market report are Albumin Therapeutics LLC,Biotest AG,CSL Behring,Grifols S.A.,HiMedia Laboratories LLC,InVitria Inc.,Medxbio Pte Ltd.,Octapharma AG,RayBiotech Inc.,SeraCare Life Sciences Inc.,Sigma-Aldrich Pty. Ltd., Hualan Biological Engineering Inc.,Kedrion Biopharma,LFB USA Inc.,Shanghai RAAS Blood Products Co. Ltd.,Baxter International Inc.,Bristol-Myers Squibb Company,Merck KGaA,Thermo Fisher Scientific Inc.,Albumedix A/S, Bio Products Laboratory Ltd.,Shire Plc.,Ventria Bioscience Inc.,Novartis AG,China Biologic Products Holdings Inc.,ProMetic Life Sciences Inc.,Sanquin,Biopharma,Takeda Pharmaceutical Company Limited,FUJIFILM Irvine Scientific Inc.

North America was the largest region in the Albumin Excipient market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global albumin excipient market report during the forecast period. The regions covered in the albumin excipient market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the albumin excipient market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The albumin excipient market consists of sales of ovalbumin, and bovine serum albumin. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.