by Recombinant human albumin (rHu Albumin) is a modified and stabilized version of the human serum albumin protein produced in genetically engineered systems such as yeast, algae, bacteria and plant cell cultures. rHu Albumin is commonly used as a stabilizing agent for biopharmaceutical drug formulation development and production.
The global rHu Albumin Market is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Propelled by increasing applications in therapeutics, the global rHu Albumin market is expected to witness significant growth over the forecast period. rHu Albumin finds wide application in therapeutics due to its properties such as serum solubility, pH buffering capabilities, and metal binding characteristics. It is commonly used in critical care settings for conditions such as burns, trauma, and hypoalbuminemia arising as a complication from liver disease or nephrotic syndrome. The increasing prevalence of such conditions has driven the demand for rHu Albumin in therapeutics applications. Further, ongoing research and clinical trials exploring new potential therapeutic applications of rHu Albumin in conditions like cancer and diabetes are also expected to support market growth.
SWOT Analysis
Strength: rHu Albumin has anti-inflammatory and antioxidant properties that reduce inflammation and prevent tissue damage. It also maintains fluid balance in the body.
Weakness: Production of rHu Albumin involves complex fermentation and purification processes making it an expensive product. Strict regulatory norms also increase production cost.
Opportunity: Increasing adoption of rHu Albumin in therapeutics and diagnostics due to it being safer than plasma-derived albumin products. Growing biologics industry also drives its demand.
Threats: Availability of alternative products and intensifying competition can reduce profit margins for rHu Albumin producers. Stringent regulations delay new product approvals.
Key Takeaways
The Global rHu Albumin Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global rHu Albumin Market is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
Asia Pacific region is expected to witness fastest growth in the rHu Albumin market due to rising medical tourism, growing population and healthcare expenditure in countries like China and India. North America currently dominates the market due to presence of major players and strong biotech industry.
Key players
Key players operating in the rHu Albumin market are 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. Merck KGaA and Abcam Plc have strongest global presence while Albumin Bioscience and InVitria are growing steadily.
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Source: Coherent Market Insights, Public sources, Desk research
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