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Albumin Market - With Future Growth By Top Players Involved In The Market

The Global Albumin Market was valued at $5,381 million in 2016, and is projected to reach $10,305 million at a CAGR of 9.6% from 2017 to 2023.

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Albumin Market - With Future Growth By Top Players Involved In The Market

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  1. Albumin Market

  2. High prevalence of different types of life-threatening cases and upsurge in adoption of albumin-based therapy drive the growth of the market for albumin in the recent years. Recently, a paradigm shift has been observed in the development of recombinant albumin by recombinant techniques in yeast, rice, and bacteria strains, as this type of products offer additional advantages for patients, in terms of safety. In addition, recombinant albumin is highly preferred as pharmaceutical excipient and rise in production of vaccines is projected to supplement the growth of the recombinant albumin market. Furthermore, increase in strategic developments by the key players is anticipated to fuel the market growth during the forecast period. Get Sample Report

  3. Albumin Market was valued at $5,381 million in 2016, and is projected to reach $10,305 million in 2023, registering a CAGR of 9.6% from 2017 to 2023. Albumin is globular protein found in liquid component of blood called plasma. It is most abundant protein in plasma constituting around 50% of the total protein in the blood. It plays a vital role in maintaining proper oncotic pressure of blood and transporting hormones, fatty acids, and other compounds throughout the body. It is derived from blood plasma on fractionation, and is widely used to clinically to treat variety of diseases. Different types of albumin are used clinically. These include human serum albumin, bovine serum albumin, and recombinant albumin.

  4. The factors that drive the growth of the albumin market include increase in prevalence of life-threatening diseases and conditions namely surgical procedures, liver diseases, trauma and burns cases, and others. Moreover, rise in awareness about recombinant albumin products, upsurge in demand for albumin products, and growth in non-therapeutic application of albumin also fuel the growth of the market. However, stringent governmental regulations and reforms, and risk of side effects associated after using albumin products impede the market growth. Conversely, the development of cost-effective therapeutic along with large production of albumin and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.

  5. Key Findings of the Albumin Market: • The bovine serum albumin segment accounted for nearly one-eighth share of the global albumin market in 2016. • The recombinant albumin segment is expected to grow at highest CAGR from 2017 to 2023. • The component of media segment accounted for around one-fifth share of the global market in 2016. • Europe accounted for around one-third share of the global market in 2016. • LAMEA is expected to provide lucrative market growth opportunities from 2017 to 2023.

  6. The key players of this market include Grifols S.A., Octapharma AG, China Biologic Products Inc., Shire Plc, Ventria Bioscience, CSL Limited, Albumedix Ltd., Merck KGaA, Thermo Fisher Scientific, and Baxter International Inc. Other players (these players are not profiled in the report and the same can be included on request) in the value chain include Biotest AG, Medxbio Pte Ltd., Mitsubishi Tanabe Pharma Corporation, Kedrion S.p.A, HiMedia Leading BioSciences Company, and Celgene Corporation.

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