The global recombinant albumin market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Recombinant albumin is used in maintaining colloid oncotic pressure and increasing circulating plasma volume with the typical dosage of over 10 g per dose. Recombinant albumin solution is isolated by fractionating human plasma, which entails possible contamination by viruses. The global market is growing due to the increasing demand for recombinant albumin for research and development purposes. The rising prevalence of hypoalbuminemia globally due to increasing cancer patients, liver diseases, infections, and cardiac procedures is driving the growth of the market. According to the National Cancer Statistics in 2020, an estimation of 1.8 million new cases of cancer were registered in the US alone. Moreover, the increasing use of recombinant albumin injection for the treatment of cardiopulmonary bypass surgery is also anticipated to boost the market growth. The North American region is anticipated to hold the major share in the global recombinant albumin market due to the increasing life-threatening disorders like liver and kidney disease. The market is also growing due to the developed healthcare infrastructure, and the early adoption of the new treatment in this region.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new drug launches, to stay competitive in the market. For instance-
- In November 2021, VBShilpa enters its phase-I clinical trial for its new biological entity, recombinant human albumin approved by the Central Drugs Standard Control Organization.
- In April 2021, ALBUMEDIX announced their research collaboration with Charles River Laboratories which will focus on process optimization and stability enhancement in scale-up manufacturing of AAV and lentiviral vectors through Albumedix’s proprietary recombinant human albumin-based product.
- In March 2021, ALBUMEDIX announced their distribution agreement with FUJIFILM Wako Pure Chemical Corp. for the Japanese, Chinese, and Hong Kong markets for Albumedix’s recombinant human albumin products Recombumin.
- In July 2020, Lazuline Bio partnered with the Biotechnology Industry Research Assistance Council of the Department of Biotechnology (DBT), Government of India to set up a cell culture laboratory product testing and validation on different stem cell lines and other mammalian cells using the company’s human serum recombinant albumin and continuous improvements to ensure its market positioning for global clients.
- In March 2019, Takeda Pharmaceutical Co. Ltd. received USFDA approval to manufacture FLEXBUMIN 25% human recombinant albumin, USP, 25% solution at new plasma manufacturing facility near Covington, Georgia for the treatment of hypovolemia, hypoalbuminemia, cardiopulmonary bypass surgery, and hemolytic disease of the newborn.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Merck & Co., Inc., Biotest AG, ALBUMEDIX, Bristol-Myers Squibb Co., Novozymes, Takeda Pharmaceutical Co. Ltd., and Grifols, S.A. among others.
A full report Recombinant Albumin Market of is available at: https://orionmarketreports.com/recombinant-albumin-market/102274/
Global Recombinant Albumin Market Report by Segment
By Type
- Human Serum Albumin
- Bovine Serum Albumin
By Application
- Drug Delivery
- Therapeutics
- Culture Media Ingredient
- Vaccine Ingredient
- Other Applications
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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