According to Data Bridge Market Research new Market report, global albumin market will account to an estimated USD 791.25 million in 2018 growing at a CAGR of 5.5% during the forecast period of 2019 to 2026.
Global Albumin Market
Albumin is a type of protein produced by the liver. This protein helps in keeping the blood flowing through the veins and arteries and helps in keeping the blood away from the tissues in the human body. It also helps in transferring of various hormones, essential vitamins and minerals throughout the human body. Low albumin in human body induces the need for adoption of synthetically injecting it into the human body to avoid any complications.
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Global albumin market is segmented on the basis of type, application and geography.
By Type (Human Serum Albumin, Bovine Serum Albumin, Recombinant Albumin), Application (Drug Delivery, Therapeutics, Culture Media, Vaccine Ingredient, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN ALBUMIN MARKET
High prevalence of liver disease
According to Centers for Disease Control and Prevention – United States, numbers of people diagnosed with having liver disease were 4.9 million in the country. This signifies the need of people developing a state where their livers are not able to produce albumin anymore. This is expected to cause significant demand for the product, due to its essential nature in major bodily functions such as transportation of essential vitamins, minerals and hormones.
Few of the major competitors currently working in the albumin market are Octapharma , CSL Behring LLC, Baxter International, Inc, HiMedia Laboratories, MedxBio Pte. Ltd., Novozymes A/S., Mitsubishi Tanabe Pharma, Sigma-Aldrich Corporation, China Biologic Products Inc., and Thermo Fisher Scientific, Biotest AG, Kedrion S.p.A, Celgene Corporation, Grifols, S.A., InVitria, , Albumin Therapeutics, LLC, . RayBiotech, Inc., SeraCare Life Sciences and Albumedix.
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Global Albumin Market– Industry Trends and Forecast to 2026