Wilmington, Delaware, United States, June 08, 2023 (GLOBE NEWSWIRE) -- The global albumin (as excipient) market is expected to exceed USD 1.7 Bn by 2031, expanding at a CAGR of 6.3% from 2022 to 2031.
Extensive human serum albumin and recombinant albumin use in cell culture media and drug delivery systems is anticipated to augment market size. Considerable R&D activities in recent years on nanoparticle-based drug delivery systems for cancer therapies have broadened the market outlook. An instance is rise in demand for versatile carrier systems based on albumin nanoparticles.
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Steady advancement in methods of albumin purification, especially human serum albumin, is likely to fuel albumin (as excipient) market development. Surge in usage of recombinant human serum albumin fusion proteins in drug delivery applications is expected to augment market growth in the next few years. Introduction of novel albumin fusion protein drugs for use in disease therapeutics applications in recent years is expected to augment market development. Rise in therapeutic uses of albumin-binding prodrugs is strengthening market growth.
Key Findings of Study
- Rise in Usage of Human Serum Albumin in Advanced Drug Delivery Systems: Rapid development of targeted delivery systems is bolstering usage of Human Serum Albumin (HSA). Albumin nanocarriers are gaining traction in the incorporation of therapeutic drugs in albumin-based carriers. Drug manufacturers are aware of the unique benefits of albumin nanoparticles such as high drug loading and entrapment capacity, good biodegradability and biocompatibility, and structural flexibility. Significant usage of HSA in advanced drug delivery systems can be ascribed to the fact that albumin microspheres are effective in the controlled and targeted release of the therapeutic molecule at the site to the patient. Rise in demand for carriers for anticancer drugs is expected to offer significant business opportunities in the near future.
- Increase in Demand for Recombinant Albumin: Recent market trends suggest researchers are shifting their focus from human albumin to recombinant albumin. Rise in research pertaining to the safety and toxicity of human serum albumin has highlighted the superiority of non-human-derived excipients due to attractive characteristics. In some drug delivery systems, human serum albumin shows risks of transmission of infectious agents. An example is its usage as a pharmaceutical excipient in Botulinum toxin serotype a products.
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Key Growth Drivers: Albumin (as Excipient) Market
- Steady increase in demand for therapeutic drugs, genes, peptides, vaccines, and antibodies for the treatment of diseases is a key driver of the albumin (as excipient) market. Significant utilization of albumin nanoparticle-based therapeutic agents in cancer therapy is expected to fuel the market over the next few years. Albumin (as excipient) is being utilized as an effective drug delivery carrier in rheumatoid arthritis, cancer, diabetes, cancer, and hepatitis.
- Surge in usage of several recombinant protein products in clinical applications is a significant driver of the market. Rapid advancement in nanoparticle-based drug delivery systems is expected to spur market growth in the near future.
Regional Growth Dynamics
North America accounted for dominant market share of nearly 38.0% in 2021. The market in the region is projected to witness rapid growth from 2022 to 2031. Surge in prevalence of chronic diseases is expected to bolster demand for novel drugs, proteins, and genes for the treatment, which is likely to augment market size in the region. Considerable usage of human serum albumin as a carrier in controlled delivery applications is anticipated to offer lucrative opportunities to companies in North America. Rise in research and clinical studies on drug delivery systems based on albumin nanoparticles is expected to bolster the market development in the region in the next few years. Significant demand for albumin in non-therapeutic applications in the U.S. is likely to augment market size in North America.
Asia Pacific is a lucrative market for albumin (as excipient). A rapidly aging population and significant growth in research investments in human serum albumin are propelling the market in the region. Surge in production of albumin in India, China, and Australia is likely to increase market value in these countries in the next few years.
Competition Landscape
Leading players are focusing on the development of innovative drug delivery systems based on albumin nanoparticles in order to strengthen their positions in the market. Key companies are also focusing on the development of novel albumin excipients for meeting the requirements for therapeutics in the treatment of chronic diseases.
Prominent companies in the albumin (as excipient) market are
- Albumedix Ltd.
- Biotest AG
- Grifols S.A.
- InVitria
- Medxbio Pte Ltd.
- Seracare Life Sciences
- Octapharma AG
- RayBiotedh Inc.
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Albumin (as Excipient) Market Segmentation
Product Type
- Human Serum Albumin
- Recombinant Albumin
Application
• Human Serum Albumin
- Drug Formulation
- Drug Delivery
- Vaccines
- Medical Devices Coating
- Culture Medium & Stabilizer
- Diagnostics
- In Vitro Fertilization
• Recombinant Albumin
- Drug Formulation
- Drug Delivery
- Vaccines
- Medical Devices Coating
- Culture Medium & Stabilizer
- Diagnostics
- In Vitro Fertilization
End-user
- Pharmaceutical & Biotechnology Industry
- Research Institutes
- Others
Region
- North America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
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