Global Albumin Market Propelled by Growing Number of Elderly and Cases of Rare Diseases in Emerging Markets of India and China

Key players plying their trade in the global market of albumin are now concentrating on service extensions and product innovation to enhance their market presence. This is helping to stoke the market competition. In the coming years, the market competition is projected to intensify on account of key players forming strategic partnerships or procuring distributors to bolster sales and expand their business across the globe. Japan-based Mitsubishi Tanabe Pharma Corp has recently agreed to take over Israeli drug maker company Neuroderm for an estimated valuation of US$1.1 billion. The transaction is expected to take place in cash and is part of business tactics to expand Mitsubishi’s market presence in the U.S. The deal is said to be the biggest acquisition of an Israeli drug company. 

The global albumin market stood at an overall valuation of US$4.8 bn in 2016. The market is expected to grow at a robust CAGR of 9.2% during the course of mentioned forecast period of 2017 to 2025. By the end of this forecast period in 2025, the global albumin market is estimated to reach the overall valuation of US$10.359 bn.

What Drives the Global Albumin Market?

Enhanced stability of the products such as vaccines which contains excipient in the form of albumin. In addition to this, the improvements in technologies for protein purification and the molecular separation coupled with increasing utilization of recombinant albumin, is expected to propel the global market for albumin considerably during the course of aforementioned forecast period. Growing demand for human serum albumin will also significantly drive the global albumin market. This is mainly because drugs such as Abraxane and Levemir, which contain human serum albumin, are widely used for the treatment of metastatic breast cancer and diabetes respectively. Moreover, increasing research and development activities and rising adoption of albumin in upcoming therapeutic sectors is also expected to boost the growth of the market considerably during the forecast period. 

However, strict rule and regulations imposed on the use of albumin is causing a big roadblock in the development of the global market. Moreover, the costs associated with albumin are also on the higher side which makes it harder for manufacturers and vendors alike to indulge in profitable business activities and thus create obstacles for market growth. In addition to this, there is general lack of awareness about the impact of albumin on the human health which is also causing some concern over the development of the market.

How will Asia Pacific Region Fare in Terms of Market Contribution?

Geographically, North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa form the key regional segments. Out of these, Asia Pacific region is the dominant force in the global albumin market and is estimated to continue its grow at a sturdy CAGR of 11.5% during the mentioned forecast period. This projected growth of Asia Pacific is mainly driven by the emerging markets in China and India. A big pool of older population and growing cases of rare diseases, surgeries, and burns are expected to act as a catalyst for the growth of the market in this region. 


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