Global Albumin Industry was valued at USD 5.4 Billion in the year 2017. Global Albumin Industry is further estimated to grow at a CAGR of 9.3% from 2019 to reach USD 11.03 Billion by the year 2025.
Major market players in Albumin Industry are Grifols International S.A., Merck KGaA, Novozymes A/S (Albumedix Ltd.), CSL Ltd, Thermo Fisher Scientific Inc., Baxter International Inc., China Biologic Products Holdings Inc., Octapharma AG, Sigma-Aldrich Corp., Celgene and brief information of other 10 companies will be provided in the report. Rising research and development expenses to address the changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
North America region holds the highest Industry share in 2017 and the Asia Pacific is considered as the fastest growing Industry in the forecasted period. At a country level, China, Japan, and Indonesia are the major industries in Asia Pacific region and holds a substantial Industry share in 2017 and it is projected to grow at a gradual pace in the coming years. Asia-Pacific is anticipated to dominate the Industry during the analysis period, owing to high population base, increase in disposable income, and improvement in patient awareness about albumin products.
SWOT Analysis of Albumin Industry:
Increase in prevalence of rare diseases and various life-threatening conditions
Growing demand for albumin and plasma collection
Limited Reimbursement and stringent regulations
Various risks associated with the use of albumin
Developing economies and investments in emerging regions
High Competition from Substitute Products
The global Albumin Industry is segmented on the basis of mode of product, by application and by region. On the basis of product, the Industry is segmented as Human Serum Albumin, Bovine Serum Albumin and Recombinant Albumin of which Human Serum Albumin segment is expected to hold the highest Industry share during the forecast period and are expected to grow with highest CAGR.
Albumin Industry Segmentation:
• Drug Formulation & Vaccine
• Component of Media
• Other Applications
• Human Serum Albumin
• Bovine Serum Albumin
• Recombinant Albumin
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East & Africa