Global Albumin Market: Snapshot
Albumin has found wide applications as a robust pharmaceutical excipient in the stabilization of protein therapeutics. It is used as a drug carrier for microparticles and nanoparticles for sustained-release of injectable drugs. Albumin is also widely used in cell culture media as a supplement to bring about growth and productivity of cells and promote overall cell health. The extraordinary properties of albumin helps facilitate stabilization of drugs by lowering oxidation, aggregation, and surface absorption. It also lessens denaturation of the active ingredient that can result from the preparation of a low-dilution solution of the active ingredient.
Albumin has enjoyed considerable demand globally because of the higher stability of products having albumin as an excipient. Additionally, the improvement in molecular separation and protein purification technologies, coupled with rising popularity of recombinant albumin, is predicted to further fillip the global market for albumin in the near future. Countering the growth in the market is the stringent norms pertaining to the use of albumin and its high cost. Concerns over albumin’s effect on the human health is another factor deterring its uptake. Going forward, the increasing demand for customized, serum-free, and chemically defined media will also likely hamper the global albumin market.
On account of considerable constraints, the global market for albumin is predicted to expand at a lackluster pace to attain a value of US$828.2 mn by 2020.
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Concerns about Cruelty to Animals Helps Stimulate Demand for Human Serum Albumin
The global market for albumin can be segmented on the basis of application, type, and regions. Depending upon type, the key segments of the market are human serum albumin, bovine serum albumin, and recombinant albumin markets. Among them, the human serum albumin leads the overall market by grossing maximum revenue. In the years ahead, the market segment is expected to hold on to its dominant position to become worth US$557 mn by 2020. Its popularity has stemmed from the growing ethical concerns surrounding bovine serums which are extracted from bovine fetuses rather cruelly and also on account of the fact that some amount of impurities is still retained in the albumin excipient. While the human serum albumin segment holds a leading market share, the recombinant albumin segment is slated to see maximum growth in the upcoming years.
Robust Pharmaceutical Industry Makes North America Dominant Market
Based on geography, the global market for albumin can be segmented into Europe, North America, Asia Pacific, and the Rest of the World. North America, among them, dominates the market, powered largely by the U.S. Reasons for North America’s market leading position is the presence of a robust pharmaceutical industry – one of the primary end users of albumin – in the continent.
Europe and Asia Pacific, which trail North America also contribute considerably to the global albumin market. China is a major market for albumin in the Asia Pacific region. Technological progress in formulation and delivery of drugs and enhanced access to technologies for the use of albumin in culture media present an opportunity to investors in developing economies, particularly in Asia Pacific. A rising number of manufacturers attempting to tap into the developing markets, the growing trend of contract research manufacturing, and the awareness in end-users about albumin as an excipient is predicted to stimulate market growth in the developing economies of Asia Pacific.
Overall, the global market for albumin is consolidated with a handful of manufacturers that are always on the lookout for a strategic acquisition or partnership to bolster their position.
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