This report analyzes the global albumin (as excipient) market in terms of its current and future business prospects. Grant of regulatory approvals and subsequent launch of albumin-based products, increasing participation from the pharmaceutical industry in the development and manufacturing of biopharmaceuticals, along with rise in research & development expenditure and increase in consumption of albumin are the key factors driving the growth of the global albumin (as excipient) market. Albumin serves as an important ingredient for formulated proteins and as a component of culture media and other biotech products, ultimately acting as a multifunctional excipient. Use of a well-characterized multifunctional excipient eliminates the time consumed during characterization of each excipient for different functions. This reduces the associated cost, shortens the registration process, and creates a faster route toward the market. Other factors, such as, decrease in issues with variability in quality, lower lot-to-lot and supplier-to-supplier variation, and reduction in the time involved in formulation optimization also drive the demand for albumin as excipient.
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Global Albumin (as excipient) Market Witness Most Promising Rise in Demand:
Albumin is a water soluble globular protein produced in the liver. It accounts for 50% of blood plasma proteins. These play a vital role in regulating blood volume and act as transporters for molecules such as few hormones, bile salts, and ions. Albumin is commonly used as blood volumizer in rare diseases, burns, shocks, liver conditions, and other blood loss trauma and surgeries. However, usage of albumin as multifunctional excipient is increasing due to rise in consumption for applications such as drug formulation, vaccines, drug discovery, culture medium, stabilizing agent, and diagnostics. The global albumin (as excipient) market was valued at US$ 750 Mn in 2017 and is anticipated to reach US$ 1200 Mn by 2026 at a CAGR of over 5.0% from 2018 to 2026. Grant of regulatory approvals and trials coupled with subsequent launch of albumin-based products is expected to boost the growth of the market during the forecast period. For instance, in May 2017, China’s Food and Drug Administration granted approval to clinical trials of human blood albumin produced from transgenic rice seeds.
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Increase in usage of albumin as multifunctional excipient, shift toward usage of recombinant albumin, and grant of regulatory approvals are the key factors driving the market. However, high cost and expertise required to set up production plants and stringent regulatory criteria restrain the market. Emerging markets such as India, China, Brazil, and South Africa present significant opportunities in the albumin as an excipient market owing to growing contract research manufacturing. Moreover, technological developments in drug formulation & drug delivery and increase in access to technologies such as use of albumin in cell culture media present lucrative opportunities for investors. Hence, investments by manufacturers in these developing markets, increase in contract research manufacturing, and rise in demand and awareness among the end-users are expected to boost the growth of the albumin as an excipient market.
Key Players of Albumin (as excipient) Market Report:
Major players in the global albumin (as excipient) market are Albumedix A/S (Novozyme A/S), Albumin Therapeutics, LLC, Biotest AG, CSL Behring LLC, Grifols International, S.A., HiMedia Laboratories Pvt. Ltd., InVitria, Medxbio Pte Ltd., Octapharma AG, RayBiotech, Inc., SeraCare Life Sciences, and Sigma-Aldrich Co. (Merck KGaA). The companies are focusing on partnering with leading pharmaceutical companies to boost the research and development activities in order to develop technologically advanced albumin products.
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