Growth in Pharmaceutical Industry to Boost Demand for Albumin

As albumin has found several applications in the stabilization of protein therapeutics as an efficient pharmaceutical excipient, its demand is expected to increase in the coming years. For micro and nano particles, albumin is also being used as a drug carrier to enable sustained release of injectable drugs. Due to all these factors, the global albumin market is anticipated to witness a steady growth in the coming years. The global albumin market’s net worth is expected to reach US$828.2 mn by 2020, states a new report by Transparency Market Research (TMR), a market intelligence and research firm.

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In the following blog post, TMR answers three key questions regarding the albumin industry:

Q. What are the factors boosting the growth of the global albumin market?

The use of albumin in cell culture media is boosting the market’s growth. Albumin plays the role of a supplement in cell culture media to drive the growth of cells, improve their productivity, and promote the overall cell health. The demand for albumin is increasing owing to its extraordinary property of facilitating the stabilization of drugs. It does so by lowering oxidation, surface absorption, and aggregation. Albumine also helps in reducing denaturation of active ingredients, which occurs as a consequence of preparation of a low dilution solution of active ingredients. The popularity of recombinant albumin is growing and this is expected to further the market for albumin in the coming years. 

Q. What are the factors bound to challenge the growth of albumin market in the coming years?

 In the coming years, the concerns over the side effects of albumin on human health will pose a challenge for the growth of the market. Another factor hampering the growth of the albumin market is the growing stringency in the norms pertaining to the use of albumin. High cost will also impede the growth of the albumin market in the coming years. Additionally, the growing demand for a serum free, chemically defined media, which is customized, will slow down the demand for albumin. Due to all these factors, the global albumin market is anticipated to expand at a sluggish rate of 2.30 CAGR between 2014 and 2020. 

Q. Which is the most lucrative region for albumin market?

It is estimated that the albumin market will be most lucrative in the North American region. Most contribution to the revenue of albumin market will come from the U.S. The presence of a robust pharmaceutical industry in North America holds the leading position in the pharmaceutical industry and this explains why the region is a lucrative market for albumin. Europe and Asia Pacific are also expected to be attractive markets for albumin. Advancements of technology in the formulations of drug delivery is pushing the growth of the albumin market in Asia Pacific. The improved access to technologies for using albumin in culture media is creating growth opportunities for albumin investors in the developing nations in Asia Pacific. This is expected to drive many players to expand their markets in the untapped Asia Pacific developing nations. The growing awareness among end users regarding albumin as an excipient and increasing trend of contract research manufacturing will help drive the market in Asia Pacific. 

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