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High Cost and Growing Healthcare Concerns to Hamper the Sales of Albumin as an Excipient, says TMR

Posted on Sep 02, 2016

The global albumin market is a highly consolidated arena and the increasing mergers, acquisitions, and collaborations are likely to make this market even more so in the long term, reports Transparency Market Research (TMR) in a new study. Some of the key players in the global albumin market are HiMedia Laboratories Pvt. Ltd., CSL Behring, Mitsubishi Tanabe Pharma, InVitria, Novozymes A/S, Raybiotech Inc., Octapharma AG, Thermo Fisher Scientific, Sigma-Aldrich Corporation, and MedxBio Pte. Ltd.

“The global albumin market is characterized by extensive research efforts and technological advancements. Manufacturers invest a lot of capital in the development of new grades of albumin,” says the author of the report. These trends, however, are not conducive for new players, thereby keeping the threat of new entrants down to a moderate level.

The global albumin market was valued at US$740.6 mn and is anticipated to reach US$828.2 mn until the end of 2020, at a CAGR of 2.3% between 2014 and 2020. Geographically, North America is expected to retain its leading position throughout the same period, accounting for approximately 35.9% of the total market by 2020. However, Asia Pacific is anticipated to grow at a CAGR higher than other regions from 2014 to 2020. The growth in this region can be attributed to improving economic conditions.

Rising Research and Development Activities to Boost Demand for Albumin as Pharmaceutical Stabilizer

The rising awareness about the benefits of albumin as an excipient is boosting its demand across various laboratories. Albumin acts as a pharmaceutical stabilizer during formulation as well as reconstitution of the formulated pharmaceutical composition. It reduces adhesion and denaturation of the protein active ingredients, thereby preventing their loss. Moreover, human serum albumin (HSA) has the benefit of having insignificant immunogenicity when injected into a patient making it a suitable choice for vaccine formulations.

Furthermore, the increasing use of recombinant albumin, which ensures a minimal risk of contamination with viruses or other infectious agents, is likely to propel the growth of the global albumin market. Improvements in protein purification and molecular separation technology are anticipated to give a significant push to the market. Moreover, emerging markets provide immense opportunities for albumin as an excipient owing to flourishing of contract research manufacturing. The vendors are estimated to invest more in these markets in the near future to maximize sales.

Rising Shift towards Serum-free Solutions to Pose a Threat to Demand for Albumin 

The regulatory requirements for albumin as an excipient are fairly challenging for vendors in the global albumin market. The sample has to undergo several tests that add to the cost of the raw materials. HSA is expensive and is increasingly difficult to obtain. Other factors such as logistics, plasma storage, and shipment to fractionation centers further add to the prices of the albumin. Furthermore, albumin administered to a patient by means of drug formulation or vaccines can result in accidental insertion of infectious agents. All these factors hamper the growth of the global albumin market.

The aforementioned factors along with growing ethical concerns have led to increasing adoption of serum-free and chemically defined media solutions. These solutions are believed to deliver better results, thereby adversely affecting the growth of the global albumin market.

Human Serum Albumin to Maintain Dominant Share 

Based on application, drug formulation and drug delivery was the leading segment by revenue in 2015 and is anticipated to retain its position, accounting for a share of 47.8% by the end of 2020. However, the vaccines segment will grow at a noteworthy CAGR between 2014 and 2020 owing to its emergence as an effective form of preventive measures. By type, the HSA segment will represent a dominant 67.3% of the global albumin market by 2020. However, the rAlbumin segment will expand at a significant CAGR from 2014 to 2020.

The information presented in this review is based on a Transparency Market Research report, titled, ‘Albumin Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast 2014 – 2020.’

The global albumin market is segmented as follows:

Albumin Market Revenue (USD Million), by Type

  • Human Serum Albumin
  • Bovine Serum Albumin
  • Recombinant Albumin

Albumin Market Revenue (USD Million) and Volume (kg), by Application

  • Drug Formulation and Drug Delivery
  • Vaccines
  • Component of Medium

Albumin Market Revenue (USD Million) and Volume (kg), by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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