Recombinant human albumin (rHu Albumin) is a surrogate human albumin protein used as a volume expanders or plasma substitute in medical treatments and pharmaceutical procedures. rHu albumin offers various advantages over plasmatic albumin such as albumin derived from human blood as it lowers the risk of transfusion-transmitted infections and addresses the shortage of albumin supplies. The increasing use of rHu albumin in trauma and burns, surgery, nephrology, and other medical applications have augmented the demand for rHu albumin.
The global rHu Albumin Market is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The key opportunity for growth in rHu albumin market lies in new product launches. There is a scope for market players to launch new albumin products in different concentration forms and packaging which expands clinical applications. For instance, recent product launches of 5% liquid rHu albumin and 20% l-rHu albumin expand their use in indications such as resuscitation from shock and blood plasma volume expansion during surgery and trauma care. Furthermore, ongoing research and development focusing on development of high concentrations of rHu albumin up to 50% or above will augment its use in critical care and emergency settings. This presents lucrative opportunities for manufacturers to gain significant revenue share through continuous innovation and new launches in the rHu albumin market during the forecast period.
Porter’s Analysis
Threat of new entrants: The market requires high capital investments and regulatory compliance which poses a barrier for new players. However, there is a possibility of new products like biosimilars being introduced by emerging players.
Bargaining power of buyers: The presence of substitute products and need for continuous supply puts pressure on pricing. However, specialized applications limits switching.
Bargaining power of suppliers: Major players control the supply chain due to intellectual property and patents. Suppliers have to rely on a few buyers for bulk sales.
Threat of new substitutes: Alternatives are available but have limitations. rHu Albumin has established itself as the gold standard with proven efficacy.
Competitive rivalry: Major players are engaged in new product innovation, capacity expansions and regional expansions to gain market share.
SWOT Analysis
Strength: Therapeutic efficacy and safety profile of rHu Albumin makes it first line of treatment for various conditions. Established production process allows large scale manufacturing.
Weakness: High production cost, stringent regulations and dependence on limited raw materials are challenges. Substitutes availability also impacts growth.
Opportunity: Increasing plasma collection centers in developing nations, growing healthcare spending, and rising prevalence of chronic diseases will drive demand. New production technologies can reduce costs.
Threats: Stringent regulations delay product approvals. Supply chain disruptions and price controls affect profitability. Intense competition threatens market share.
Key Takeaways
The Global rHu Albumin Market Share is expected to witness high growth over the forecast period aided by factors such as growing patient pool for therapy areas like cancer, liver diseases and increasing hemorrhages along with rising healthcare funding. The global rHu Albumin Market is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period from 2023 to 2030.
Regionally, North America dominates the market currently owing to rapid adoption of new technologies, developed healthcare infrastructure and presence of major players. However, Asia Pacific is poised to grow at the fastest pace with improving access and focus on biologics in large economies like China and India.
Key players operating in the rHu Albumin market are Merck KGaA, HiMedia Laboratories Pvt. Ltd., Albumin Bioscience, Albumedix, ScienCell Research Laboratories, Inc., InVitria, Lazuline Biotech Private Limited, Lee Biosolutions, Inc., Abcam Plc, and Shandong Kingtone Biotechnology Co.,Ltd. While the market leaders have established production facilities, smaller players are focusing on strategic collaborations and new product innovations.
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Bovine serum albumin and human serum albumin are albumins obtained from bovine and human plasma, respectively.
Recombinant albumin is manufactured using recombinant techniques in bacteria and viruses.China is the largest consumption place, with a consumption market share nearly 53.9% in 2017.
Following China, North America is the second largest consumption place with the consumption market share of 20% in 2017.Market competition is intense.
CSL, Grifols, Shire (Baxalta), Octapharma, Hualan Bio are the leaders of the industry, and have been formed in the monopoly position in the industry.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-albumin-2019-2024-962According to this study, over the next five years the Albumin market will register a 6.7% CAGR in terms of revenue, the global market size will reach US$ 6070 million by 2024, from US$ 4380 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Albumin business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Albumin market by product type, application, key manufacturers and key regions and countries.This study considers the Albumin value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.Human Serum AlbuminBovine Serum AlbuminRecombinant AlbuminSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.TherapeuticsVaccine IngredientCulture Medium IngredientOtherThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.The key manufacturers covered in this report: Breakdown data in in Chapter 3.CSLGrifolsShire (Baxalta)OctapharmaHualan BioCBPORAASKedrionMerckLFB GroupAlbumedixThermo Fisher ScientificVentria (InVitria)In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.
It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global Albumin consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Albumin market by identifying its various subsegments.Focuses on the key global Albumin manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Albumin with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the consumption of Albumin submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/life-sciences/global-albumin-2019-2024-962Table of content2019–2024 Global Albumin Consumption Market Report1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Albumin Consumption 2014–20242.1.2 Albumin Consumption CAGR by Region2.2 Albumin Segment by Type2.2.1 Human Serum Albumin2.2.2 Bovine Serum Albumin2.2.3 Recombinant Albumin2.3 Albumin Consumption by Type2.3.1 Global Albumin Consumption Market Share by Type (2014–2019)2.3.2 Global Albumin Revenue and Market Share by Type (2014–2019)2.3.3 Global Albumin Sale Price by Type (2014–2019)2.4 Albumin Segment by Application2.4.1 Therapeutics2.4.2 Vaccine Ingredient2.4.3 Culture Medium Ingredient2.4.4 Other2.5 Albumin Consumption by Application2.5.1 Global Albumin Consumption Market Share by Application (2014–2019)2.5.2 Global Albumin Value and Market Share by Application (2014–2019)2.5.3 Global Albumin Sale Price by Application (2014–2019)3 Global Albumin by Players3.1 Global Albumin Sales Market Share by Players3.1.1 Global Albumin Sales by Players (2017–2019)3.1.2 Global Albumin Sales Market Share by Players (2017–2019)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
