Albumin is a blood protein that delivers vitamins, minerals, and medications all around your body. It is the most abundant protein in human blood plasma, it constitutes about half of serum protein. All the proteins of the albumin family are water-soluble. The global albumin market was USD 3.14 billion in 2018 and will reach USD 5.64 billion by 2025 at a CAGR of 8.74% during the forecast period.
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Growth by Region
North America and Europe held major share in the market due to rise in investment in life sciences by a large number of biopharmaceutical companies and research institutes. Asia Pacific will dominate the market owing to high population base, increase in disposable income and rise in awareness about albumin.
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Drivers vs Constraints
Rise in adoption of albumin products and increase in usage of non-therapeutic applications are the factors driving the market. Rising production of immunoglobulins, development of plant based albumin and demand for albumin in R&D activities are boosting the market growth. On the other hand, lack of awareness of albumin products is restraining the market growth.
Industry Trends and Constraints
Novartis will partner with Albumedix, a U.K.-based specialist in recombinant human albumin, to explore using the company’s technology as a possible drug delivery platform for several therapies.
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