Human albumin is a type of protein, commonly found in human blood plasma. Human albumin is normally synthesized in liver. Factor Vlll is a blood clotting protein and also known as anti-hemophilic factor (AHF). Defect in production of Factor Vlll may result in hemophilia A (genetic deficiency in clotting factor). This protein circulates in bloodstream in an inactive form. In response to the injury, factor Vlll initiates the chemical reaction that forms a blood clot. Factor Vlll are also extracted from the human plasma or engineered from mammalian cell culture by means of recombinant DNA technology and can be used to treat patients with hemophilia disease.
Rising incidences of hemophilia will drive the growth of the market of human albumin and factor VIII market. According to National Hemophilia Foundation, approximately one in 5,000 male in the U.S. are affected with hemophilia. In addition, strategic collaboration by key players in order to introduce novel treatment options will further drive the market growth. For example, Novo Nordisk collaborated with National Hemophilia Foundation aiming to develop novel treatment option for hemophilia disease. Thus, these types of collaboration will build healthy platform to attract new customers and hence drive the market growth. Furthermore, rising geriatric population will significantly drive the market growth of human albumin and factor VIII market. According to a report published by World Health Organization (WHO), the number of people aged 65 years and above is expected to increase from 605 million to 2 billion by 2050. Additionally, advances in factor VIII product resulted in a major increase in quality of life of patients and hence supports the growth of human albumin and factor VIII. Moreover, various other factors like rising number of people with bleeding disorders, rising use of albumin as cell culture medium ingredient and low cost therapy will further augment the growth of the market. However, stringent regulation and lack of adequate plasma supplies will restrain the growth of human albumin and factor VIII market. In addition, high cost of therapies coupled with lack of adequate treatment modalities in developing countries like Asia-Pacific will restrain the growth of this market. For example, advanced therapeutics for the treatment are only available in the developed countries like North America and Europe.
Geographically, North America dominates the global human albumin and factor VIII market. Increasing use of plasma derived products in North America will drive the growth of human albumin and factor VIII market in North America. Europe is considered as the second largest market of human albumin and factor VIII market. The growth of the market in Europe is majorly driven by aging population. Rise in geriatric population will increase the risk of the people diagnosed with hemophilia which drives the growth of human albumin and factor VIII market in European market. According to Eurostat (European Commission) report published in 2013, around 17.8% of the European population were aged 65 years and above. The market of human albumin and factor VIII market in Asia-Pacific holds a strong growth as there is a rise in total number of bleeding disorder cases in this region. In addition, emerging countries like India and China are increasingly importing albumins from western countries (i.e. North America and Europe) which will ultimately drive the overall growth of this market in Asia-Pacific region.
Some of the key players dominating the global human albumin and factor VIII market comprises Baxter International, Inc., Talecris Plasma Resources, Grifols, S.A., Novo Nordisk, CSL Limited and others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.