Global Albumin Market Is Expected To Grow At A Healthy ~6% CAGR By 2026
Albumin has been usually studied as a protein carrier for drug delivery. They are utilized in various applications including oncology, diabetes, hepatitis C, hypovolemia, and rheumatoid arthritis. The Global Albumin Market is expected to grow at a rate of ~6% by 2026. The development of albumin-based nanoparticles for drug delivery, high demand for albumin in R&D activities & clinical trials, rising production of immunoglobulin, growing plasma collection, increased preference for recombinant albumin in drug delivery, increasing awareness about the benefits of albumin, growing usage of albumin as blood volumizer in a condition of shocks & burns, and rise in non-therapeutic applications of albumin as a multifunctional excipient are some of the key factors driving the global albumin market.
The Global Albumin Market
The Growing Demand for Albumin in Research & Development and Clinical Trials Drives the Global Albumin Market. Malignant, inflammatory, metabolic, and viral diseases are specifically treated and diagnosed with albumin-based therapeutic agents. Considering the commercial success of products that utilise albumin as a drug carrier and the ongoing clinical trials albumin is attracting the interest of researchers, pharmaceutical, and biotechnological companies.
Albumin-Based Nanoparticles Offer Promising Drug Delivery System for Cancer Treatment
Albumin is a versatile biomaterial for the synthesis of nanoparticles. The efficiency of albumin-based delivery resides in its capacity to improve tumor targeting and accumulation. Additionally, albumin can bind to special receptors overexpressed on cancer cells and enhance nanoparticle binding and internalization.
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Growing Adoption of Recombinant Albumin over Serum-based Albumin for Drug Delivery Fuels the Albumin Market Demand
As regulatory guidelines have driven the need for animal-free options, there has been a decline in the use of serum-derived albumin. Historical risks related to human serum albumin have been eliminated with the availability of recombinant albumin. It also provides a relatively simple solution to traditional formulation strategies and provides a cost-effective, single solution to several stability issues.
The Potential Role of Human Serum Albumin in Covid-19 Patients Boosts the Albumin Market
Albumin downregulates the expression of the ACE2 receptors and has been shown to improve the ratio of arterial partial pressure of oxygen/fraction of inspired oxygen in patients with acute respiratory distress syndrome as soon as 24 hours after treatment and with an effect that persists for at least seven days. Furthermore, researchers who have studied the clinical characteristics of Covid-19 patients have reported that low serum albumin on presentation in COVID-19 infection is associated with a higher incidence of serious outcomes like kidney injury, cardiac injury, and higher mortality, among others.
Key Challenges/ Constraints: Albumin Market
The stringent government regulations, limited reimbursement, rising shift towards serum-free solutions, and side effects associated with the use of albumin are the major factors restraining the growth of the albumin market.
North America Holds the Largest Market Share but APAC is Set to Witness Strongest Growth
The biggest market share for the albumin market is held by North America. This can be mainly attributed to the increasing demand for albumin-based R&D activities, the presence of advanced and robust healthcare infrastructure, the rising demand for albumin in various non-therapeutics applications, and the presence of market key players in the region.
Companies Adopt both Organic & Inorganic Growth Strategies to Increase their Market Share
To gain market share, players in the albumin market are adopting both organic and inorganic growth strategies. Such as collaborations, acquisitions, and expansions.
- In April 2022, Apotex Corp. announced the release of its Paclitaxel protein-bound particles for injection (albumin-bound), a generic version of Abraxane in the United States
- In January 2022, Bio Products Laboratory (BPL), announced that the National Medical Products Administration (NMPA) for China has granted BPL a license to market ALBUMINEX® 25% product to China
Competitive Landscape Analysis of the Albumin Market
The global albumin market is marked by the presence of established key players such as Baxter International Inc., China Biologic Products Inc, Grifols S.A., Apotex Corp., and InVitria, among others.
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