How Has the Human Albumin Market Evolved Historically and What is its Current Size?
The human albumin market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the human albumin market has seen a high compound annual growth rate (HCAGR) of XX%.
This market is expected to expand from $XX million in 2024 to $XX million in 2025, reflecting a compound annual growth rate (CAGR) of XX%.
The surge during the historical period can be linked to the escalating demand for biopharmaceuticals, more clinical trials, growing health concerns, increased spending on healthcare, as well as the rising need for therapies based on human serum albumin.
What Does Future Hold for The Human Albumin Market By 2029?
The human albumin market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the human albumin market is anticipated to experience an impressive XX (FCAGR) growth over the coming years. The market is projected to expand to $XX million in 2029, with a compound annual growth rate (CAGR) of XX%.
This projected growth during the forecast period can be ascribed to the escalating prevalence of chronic diseases, advancements in healthcare, an increasing number of surgical procedures, the growth of the elderly population, heightened government initiatives, and enhanced awareness regarding human albumin and plasma. Noteworthy developments in the forecast period encompass facility expansion, drug authorization by the relevant bodies, strategic partnerships, custom-made medicines, and technological progressions.
What Are The Primary Growth Drivers In The Human Albumin Market?
The human albumin market is expected to be propelled by the escalating prevalence of chronic disorders. Known also as chronic diseases, these protracted conditions require continued medical intervention. The surge in chronic disorders is largely attributed to factors like increasing age, sedentary lifestyle, inappropriate food habits, and heightened stress levels. Human albumin is employed in managing hypoalbuminemia and maintaining oncotic pressure in chronic kidney disease, thus enhancing fluid balance and mitigating complications. For instance, a report published in June 2023 by Kidney Research UK, a charity based in the UK, revealed that about 7.2 million people, constituting over 10% of the population in the UK, suffer from chronic kidney disease. Among these, around 3.25 million individuals are grappling with severe stages while an added 3.9 million are in the initial stages, often not diagnosed and asymptomatic. By 2033, the populace affected by chronic kidney disease is projected to grow to 7.61 million. Hence, the escalating prevalence of chronic disorders is anticipated to fuel the human albumin market.
What Is The Segmentation Of The Global Human Albumin Market?
The human albumin market covered in this report is segmented –
1) By Product: Human Serum Albumin, Recombinant Albumin, Bovine Serum Albumin
2) By Clinical Indication: Hypovolemia, Hypoalbuminemia, Burns And Shock, Liver Diseases, Neonatal Conditions, Surgical And Critical Care, Other Clinical Indications
3) By Application: Therapeutics, Drug Formulation And Vaccine, Component Of Media, Other Applications
4) By End-User: Hospitals And Clinics, Pharmaceutical And Biotechnology Industry, Research Institutes
Pre-Book The Human Albumin Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Human Albumin Market?
One prominent pattern in the human albumin market is centered around obtaining pharmaceutical authorizations from regulatory bodies as a strategy to advance competitively in the sector. Achieving these authorizations ensures that a drug is effective, safe, and meets high quality standards, contributing to increased trust from both healthcare professionals and patients. This also legalizes the marketing and sales of the product, thereby increasing its possible usage and consumer reach. As an illustration, Kedrion Biopharma Inc., a biotechnology pharmaceutical firm based in Italy, announced in June 2023, the approval of Bio Products Laboratory's (BPL) human albumin product by the National Institutes for Food and Drug Control in China. This approval represents a significant landmark, as this is the first time a BPL product has gained approval for distribution in the Chinese market. With this approval, the company can now routinely ship to China, the most significant market for human albumin, that singlehandedly accounted for 627 tons of the total 1,368 tons global demand in 2021.
Who Are the Key Players In The Human Albumin Market?
Major companies operating in the human albumin market include:
• Takeda Biopharmaceuticals Private Ltd.
• Merck KGaA
• Baxter International Inc.
• CSL Behring
• Grifols SA
• Octapharma AG
• Sanquin Plasma Products BV
• Taib
What Are The Regional Insights Into The Human Albumin Market?
North America was the largest region in the human albumin market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human albumin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
