Market Overview:
Recombinant human serum albumin (rhu albumin) is a human protein produced through recombinant DNA technology. It is used as a stabilizing and bulking agent in pharmaceutical formulations for vaccines and drug formulations. rhu albumin offers advantages over animal or human-derived albumin as it is safe, pure, and eliminates any risk of infection.
Market key trends:
One of the key trends in the rhu albumin market is its increasing demand from the biopharmaceutical industry. rhu albumin finds wide application as an excipient in drug formulations, especially for unstable or insoluble drugs. It acts as a stabilizing and bulking agent to increase drug solubility and stability. Furthermore, with the growing demand for biosimilars and increasing R&D in novel drug delivery systems, the use of rhu albumin as an excipient is expected to rise substantially over the forecast period. Growing demand from the biopharmaceutical industry is expected to drive the growth of the rhu albumin market.
The global Rhu Albumin Market Size 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The global rhu albumin market is categorized into human serum albumin, bovine serum albumin, and recombinant albumin. Human serum albumin currently dominates the market due to its application in cancer treatment and chronic illnesses. It is widely used for replacing lost albumin in severe burns, shock, trauma, surgery, and other conditions. The key end-users of human serum albumin are hospitals, clinics, research laboratories, and academic institutions.
Key Takeaways
Market size
The global rhu albumin market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing demand for serum albumins for therapeutic applications and research purposes.
Regional analysis
North America currently dominates the global rhu albumin market due to rising healthcare expenditure and increasing prevalence of chronic diseases in the region. Asia Pacific is expected to be the fastest growing market for rhu albumin owing to rising patient pool, increasing R&D investments, and improving healthcare infrastructure in emerging countries such as China and India.
Key players
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. Merck KGaA and HiMedia Laboratories Pvt. Ltd. currently account for major share of the market.
