Seattle, June 20, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global rHu albumin market is estimated to be valued at US$ 84.9 Million in 2022 and is expected to exhibit a CAGR of 10.0% during the forecast period (2022-2030).
Key Trends and Analysis of the Global rHu Albumin Market:
Key trends in the market include increasing research and development activities, and increasing product launches or approvals.
Market players are involved in research and development activities in rHu albumin, which is expected to spur growth of the global rHu albumin market over the forecast period. For instance, in March 2021, Wuhan Healthgen Biotechnology Corp., a private company, which specializes in molecular pharmaceutical research, initiated a phase 2 clinical trial to study the efficacy of OsrHSA, a recombinant HSA (Human Serum Albumin), which is expressed and purified from the plant Oryza sativa, in patients with decompensated cirrhotic ascites.
Market players are involved in product launches and approvals, which is expected to drive growth of the global rHu albumin market. For instance, in May, 2018, CSL Behring, a global bio-therapeutics company, announced that the U.S. Food and Drug Administration (FDA) approved a 3500 IU (international unit) vial size for IDELVION [Coagulation Factor IX (Recombinant), Albumin Fusion Protein (rFIX-FP)], its new, long-acting recombinant albumin fusion protein for hemophilia B treatment. Factor IX's half-life is extended by fusion with recombinant albumin.
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Key Market Takeaways:
Increasing availability of rHu albumin expressed in Oryza Sativa (Rice) is expected to drive market growth over the forecast period. For instance, BioVision Inc., a subsidiary of Abcam, a company which develops and manufactures high-quality biological reagents and tools, offers OryzaExp Human Serum Albumin, which is made from the source Rice Grain (Oryza Sativa) and can be used for various research applications such as cell culture, stem cell therapy, etc.
Competitive Landscape:
Key players operating in the global rHu albumin market include 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.
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Market Segmentation:
- Global rHu Albumin Market , By Source:
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- Oryza sativa
- Pichia pastoris
- Others (Saccharomyces cerevisiae, etc.)
- Global rHu Albumin Market , By Application:
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- Cell Culture Media
- Nutrient and stabilizer
- Medium Supplement
- Stem Cell Therapy
- Drug Formulations
- Cryopreservation
- Others
- Cell Culture Media
- Global rHu Albumin Market , By End User:
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- Pharmaceutical & Biotechnological Industry
- Research Institutes
- Global rHu Albumin Market , By Region:
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- North America
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- By Country:
- U.S.
- Canada
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- Latin America
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- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
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- Europe
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- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
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- Asia Pacific
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- By Country
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- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
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- Middle East
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- By Country:
- GCC
- Israel
- Rest of Middle East
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- Africa
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- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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