The Global rHu Albumin Market Size is valued at 94.88 Million in 2023 and is predicted to reach 218.56 Million by the year 2031 at a 11.16 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The rise in health consciousness among people has increased the demand for albumin in the pharmaceutical production industry, which offers the market opportunities to grow and expand.
- The increasing awareness of recombinant albumin products is expected to drive industry growth.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- One of the significant concerns restraining industry growth is the need for large-scale production and difficulties in making recombinant HSA (Human Serum Albumin).
The recombinant human albumin (rHu Albumin) is structurally similar to native human serum albumin (HSA) but lacks any serum or animal products. rHu Albumin is a non-glycosylated, single-chain polypeptide with a molecular weight of 66 kilo kDa. The albumin market has experienced rapid expansion due to rising immunoglobulin production, increased demand for albumin in research and development, and a surge in albumin's non-therapeutic applications. The main driver of the albumin market's expansion is an increase in the prevalence of rare diseases, shocks, trauma, burns, and other causes of death. Increased awareness of recombinant albumin products, increased awareness of recombinant albumin products, and increased non-therapeutic use of albumin as an excipient and drug-formulating agent are further reasons driving the market's expansion. In addition, many businesses are expanding their market reach to do business in new markets.
Additionally, due to the strong demand for albumin in research and development activities and expanding immunoglobulin production, an increase in albumin's non-therapeutic uses has boosted the market's growth. On the other hand, the market is anticipated that developing cost-effective treatments through large-scale production and significant market potential in undeveloped emerging nations may impede the market's expansion. Nowadays, people are more conscious of their health, which motivates them to maintain it and drives up the demand for albumin in the production of pharmaceuticals. As a result, the albumin market now offers a profitable prospect for growth. This has further encouraged several important businesses to explore emerging countries.
Market Segmentation:
The rHU albumin market is segmented on the source, application and end-use. Based on the source, the rHu albumin market is segmented into oryza sativa, pichia pastoris and others (saccharomyces cerevisiae, etc.). Based on application, the rHU albumin market is segmented into cell culture media (nutrient and stabilize, medium supplement), stem cell therapy, drug formulations, cryopreservation and Others. Based on the end users, the rHu albumin market is segmented into the pharmaceutical & biotechnological industry and research institutes.
Based on applications, the cell culture medium segment is a major contributor to the rHu albumin market.
Cell culture media dominated the industry with the biggest market share. The medium to develop cells frequently contains sufficient energy and chemicals that regulate the cell cycle. A culture medium mostly comprises glucose, serum, inorganic salts, amino acids, and vitamins. Because serum includes growth factors, hormones, and attachment factors, it is added to the medium. The medium helps maintain a consistent pH and osmolality level and provides nutrients to the plant.
The pharmaceutical and biotechnology segment witnessed growth at a rapid rate.
The pharmaceutical and biotechnology sector had the top spot in the global albumin (as excipient) market. Rising R&D efforts for the creation of technologically advanced items, as well as more significant government expenditure, have supported the category's growth. Recombinant human serum albumin is used in the life sciences industry for many different things, including microbial culture media and cell components, growth promoters for recombinant DNA, blocking agents for blotting, and hybridoma technologies. This is predicted to boost the segment's expansion in the coming years.
The North American rHU Albumin market holds a significant regional revenue share.
The North American rHu albumin market is expected to register the highest market share in revenue soon. Due to growth methods followed by market participants, including creating production facilities to broaden their product line, the North American region is anticipated to present a profitable opportunity for the rHu albumin market. Besides, Europe region is accounted to hold a significant share in the market. Due to the need for albumin in research and development, the rising level of immunoglobulin production, the expansion of albumin's non-therapeutic applications, and the increasing rates of plasma collection in the area. Additionally, it is anticipated that rising rHu albumin research and development activity in Europe will fuel market expansion in the area.
Competitive Landscape
major key players in the Global rHu Albumin Market:
- Merck KGaA,Some
- HiMedia Laboratories Pvt. Ltd.,
- Albumin Bioscience,
- Albumedix,
- ScienCell Research Laboratories, Inc.,
- InVitria, Lazuline Biotech Private Limited,
- Lee Biosolutions, Inc.,
- Abcam Plc,
- Shandong Kingtone Biotechnology Co.,Ltd.
Global RHU Albumin Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 94.88 Million |
|
Revenue Forecast In 2031 |
USD 218.56 Million |
|
Growth Rate CAGR |
CAGR of 11.16% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Source, Application, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
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. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
