Albumin (as Excipient) Market Research Report – Global Forecast till 2027

Albumin (as Excipient) Market Research Report: By Type (Human, Bovine, and Recombinant Serum Albumin), Application (Drug Formulation, Drug Delivery, Vaccines, Medical Device Coating, Diagnostics, and Others), End User – Global Forecast Till 2027

ID: MRFR/HC/5973-HCR | February 2021 | Region: Global | 90 pages

Please note that the assessment period of report has been updated from 2018-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Scenario

Global albumin (as excipient) market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 736 million in 2017 and is projected to grow at a CAGR of 6.1% over the forecast period.

The choice of excipient is an important factor in the formulation of pharmaceuticals. Albumin as excipient in formulation has been reported to improve lyophilized cake formation, dissolving properties of API from lyophilized powder, and solubility.

Rising adoption of recombinant albumin-based drug delivery systems by pharmaceutical and biotechnology companies is one of the key factors driving the albumin (as excipient) market. For instance, in 2014, Novozymes Biopharma DK A/S announced that its albumin-based VELTIS technology is used by GlaxoSmithKline plc in the manufacturing of type II diabetes drug (Tanzeum and Eperzan) in Europe.

Various other factors such as increasing prevalence of chronic conditions, technological advancements, emerging markets in APAC and RoW, rising awareness about albumin as excipient, and increase in usage of albumin for non-therapeutic applications are also expected to propel the growth of the market.

However, the adverse reactions associated with albumin, rising shift toward serum-free solutions, and unfavourable reimbursement policies can hamper the market growth over the forecast period.

Key Players

Some of the key players in the global albumin (as excipient) market are Albumedix A/S, Albumin Therapeutics, LLC, Baxalta Incorporated, Baxter International Inc., Biotest AG, CSL Behring LLC, Celgene, China Biologic Products, Inc., Grifols International, S.A, HiMedia Laboratories Pvt. Ltd., InVitria, Medxbio Pte Ltd., Mitsubishi Tanabe Pharma Corporation, Octapharma AG, RayBiotech, Inc., SeraCare Life Sciences, Sigma-Aldrich Co. (Merck KGaA), and others.

Intended Audience

Government and Private Laboratories

Research and Development (R&D) companies

Biotechnology Laboratories

Market Research and Consulting Service Providers

Market Segmentation

The global albumin (as excipient) market is segmented based on type, application, end user, and region.

The global market for albumin (as excipient), by type is segmented into human serum albumin, bovine serum albumin, and recombinant albumin. The human serum albumin segment is anticipated to hold the largest market share owing to the increasing cases of chronic conditions such as, cardiac disorders, infectious diseases, and others.

Based on application, the market is segmented into drug formulation, drug delivery, vaccines, medical device coating, culture media & stabilizers, diagnostics, in vitro fertilization, and others.

Based on end user, the market is segmented into pharmaceutical & biotechnology industry, academic and research institutes, and others.

In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely the Americas, Europe, Asia-Pacific and the Middle East & African region.

The albumin (as excipient) market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European albumin (as excipient) market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The albumin (as excipient) market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The albumin (as excipient) market in the Middle East & Africa has been segmented into the Middle East and Africa.

Global Albumin (as Excipient) Market Share (%), by Region, 2017

Albumin (as Excipient) Market

Sources: MRFR Analysis

Regional Market Summary

The Americas dominated the global market for albumin (as excipient) owing to the rising R&D investments and increasing prevalence of diabetes within the region. According to the 2015 data suggested by the Centres for Disease Control and Prevention (CDC), around 30.3 million Americans were suffering from diabetes.

In 2017, it was estimated that Europe stood second in the global Albumin (as Excipient) market. This can be attributed to the increasing technological advancements, and rising participation of market players. For instance, in 2016, a Denmark based company, Novozymes launched its recombinant albumin business as a new independent called Albumedix.

Asia Pacific was projected to be the fastest growing region in 2017. Increasing healthcare expenditure drives the regional markets of the Asia Pacific region. As per the data suggested by the Australian Institute of Health and Welfare, from 2015 to 2016, the total health expenditure was USD 181 billion.

On the other hand, the Middle East and Africa held least share in the global albumin (as excipient) market due to inadequate economic development, especially within the African region.

Research Methodology

Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analysing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.

Primary Research

Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.

Secondary Research

Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the Albumin (as Excipient). It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.

Market Segmentation and Key Market Players

Global Albumin (as Excipient) Market, by Type

Human Serum Albumin

Bovine Serum Albumin

Recombinant Albumin

Global Albumin (as Excipient) Market, by Application

Drug Formulation

Drug Delivery

Vaccines

Medical Device Coating

Culture Media & Stabilizers

Diagnostics

In Vitro Fertilization

Others

Global Albumin (as Excipient) Market, by End User

Pharmaceutical & Biotechnology Industry

Academic and Research Institutes

Others

Frequently Asked Questions (FAQ) :

What is the valuation of the albumin market?

The global albumin market was valued at USD 736 million in 2017.

What is the albumin market’s growth rate?

The global albumin market is expected to exhibit a strong 6.1% CAGR over the forecast period from 2018 to 2023.

What is the major driver for the market?

The increasing use of recombinant albumin in drug delivery systems is likely to be the major driver for the albumin market over the forecast period.

What is the key restraint on the market?

The risk of adverse reactions to albumin and the rising demand for serum-free solutions are the key restraints on the global albumin market.

What are the key players in the global albumin market?

Leading players in the albumin market include Albumedix A/S, Baxalta Inc., Baxter, CSL Behring LLC, China Biologic Products Inc., Grifols, InVitria, and Mitsubishi Tanabe Pharma Corporation, among others.

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Macroeconomic Indicators

4.5 Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.3 Investment Opportunities

5.4 Pricing Analysis

Chapter 6. Global Albumin (as Excipient) Market, by Type

6.1 Introduction

6.2 Human Serum Albumin

Market Estimates & Forecast, by Region, 2020-2027