New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Albumin Excipient Global Market Report 2023" - https://www.reportlinker.com/p06486539/?utm_source=GNW
(Merck KgaA), Hualan Biological Engineering Inc, Kedrion Biopharma, LFB USA Inc., and Shanghai RAAS Blood Products Co. Ltd.
The global albumin excipient market is expected to grow from $4.23 billion in 2022 to $4.56 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The albumin excipient market is expected to reach $5.91 billion in 2027 at a CAGR of 6.7%.
The albumin excipient market consists of sales of ovalbumin, and bovine serum albumin.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Albumin excipient is a type of protein that is found in blood. An excipient is an inactive ingredient that serves as a carrier or stabilizer for the active pharmaceutical ingredient.
North America was the largest region in the Albumin Excipient market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in albumin excipient report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of albumin excipients are human serum albumin and recombinant albumin.Human Serum albumin is the primary protein made by the liver and is present in the human plasma.
These are used by various end-users such as the pharmaceutical and biotechnology industry, research institutes, and others.
The rising prevalence of chronic diseases is expected to propel the growth of the albumin excipient market going forward.A chronic disease is a form of illness that lasts three months or more and can deteriorate with time.
Albumin is used as a blood volumizer and is the most abundant circulating protein in plasma that acts as a versatile protein carrier for drug targeting and for improving the pharmacokinetic profile of peptide or protein-based drugs is involved in the treatment of various diseases, including cancer, and diabetes. For instance, in January 2023, according to The National Center for Biotechnology Information, the US-based National Library of Medicine, which the federal government operates, the number of people in the USA aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising prevalence of chronic diseases is driving the growth of the albumin excipient market.
Product innovations are a key trend gaining popularity in the albumin excipient market.Major companies operating in albumin excipient market are introducing innovative solutions to sustain their position in the market.
For instance, in May 2020, Bio Products Laboratory (BPL), a UK-based healthcare company that develops albumin products, introduced ALBUMINEX 5% (human albumin) solution and ALBUMINEX 25% (human albumin) solution approved by The United States Food and Drug Administration, a US-based government agency. These solutions are applicable for treating conditions such as acute respiratory distress syndrome (ARDS), hypovolemia, hypoalbuminemia, burns, acute nephrosis, and cardiopulmonary bypass.
In September 2022, Sartorius AG, a Germany-based pharmaceutical and laboratory equipment manufacturer, acquired Albumedix for a deal amount of $503 million. With this acquisition, Sartorius Inc. would strengthen its cell culture media business by expanding its portfolio of bioprocess solutions. Albumedix is a UK-based company that develops and manufactures recombinant human albumin products.
The countries covered in the albumin excipient market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The albumin excipient market research report is one of a series of new reports that provides albumin excipient market statistics, including albumin excipient industry global market size, regional shares, competitors with an albumin excipient market share, detailed albumin excipient market segments, market trends and opportunities, and any further data you may need to thrive in the albumin excipient industry. This albumin excipient market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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