Albumin Market Size - By Product (Human, Bovine, Recombinant), Application [Clinical (Drug Delivery, Emergency Treatment of Shock), Drug and Device Formulation (Drug Formulation, Cell Culture Media Ingredients)], End-user & Global Forecast, 2024 – 2032

Albumin Market Size

Albumin Market was valued at USD 5.6 billion in 2023 and is set to register more than 6.5% CAGR between 2024 and 2032. The increasing prevalence of chronic diseases, growing non-therapeutic applications of albumin, increase in demand for albumin in R&D activities, and technological advancements in biotechnology significantly influence the market growth.
 

Demand for albumin is growing, especially for treatments involving volume expansion, shock, burns, and other medical conditions requiring plasma derived therapy or protein supplementation. For instance, according to the American Burn Association, in U.S. approximately 450,000 patients receive hospital or emergency room treatment for burns each year. The burn injuries necessitate extensive use of albumin for fluid resuscitation, edema reduction, and therapeutic management. The high incidence of burns globally, coupled with advancements in burn care that improve survival rates, ensures a steady demand for albumin.
 

Albumin, a major protein found in blood plasma, has a wide range of applications in healthcare, including therapeutic use for conditions such as hypovolemia, burns, shock, liver disease, and nephrotic syndrome. Additionally, albumin is utilized in drug formulation, drug delivery systems, diagnostic assays, and research applications in fields such as biotechnology, life sciences, and regenerative medicine.
 

Albumin Market Trends

• Chronic diseases such as liver cirrhosis, kidney disease, heart failure, and certain cancers are becoming more prevalent globally. These conditions often lead to hypoalbuminemia, a decrease in serum albumin levels, which necessitates albumin supplementation. As the incidence of chronic diseases continues to rise, particularly in developed and developing countries, there is a growing demand for albumin-based therapies to manage associated complications and improve patient outcomes.
   
• In addition to its traditional therapeutic uses, albumin is finding applications in various non-therapeutic areas such as cosmetics, wound care, and biotechnology. Its ability to bind water and other molecules, make it a valuable ingredient in skincare products, wound dressings, and tissue engineering scaffolds. Furthermore, albumin is utilized in biotechnology research and diagnostics as a stabilizer, blocking agent, and carrier protein. The expanding scope of non-therapeutic applications broadens the market potential for albumin beyond traditional medical settings.
   

Albumin Market Analysis

Based on product, the human serum albumin segment accounted for market share of 82.6% in 2023.
 

• The highest market share is primarily attributed to its extensive therapeutic applications, biocompatibility, and safety profile. Thus, making it important in fluid replacement therapies and treatment of various conditions associated with hypoalbuminemia.
   
• Its vital role in pharmaceutical formulations as a drug carrier and stabilizer, coupled with its use in biotechnological applications and research, further solidifies its demand in global market.
   

Based on application, the albumin market is segmented into drug and device formulation, clinical applications, diagnostic applications, gene therapy formulation, nutritional supplements, and other applications. The drug and device formulation segment is further sub-segmented into drug formulation, cell culture media ingredients, vaccine ingredients/stabilization, and other drug and device formulation applications. The clinical applications segment is further divided into drug delivery, emergency treatment of shock, burn treatment, intravenous therapy, and other clinical applications. The clinical application segment was valued at USD 2.8 billion in 2023.
 

• The rising prevalence of diseases and conditions that require albumin use, such as liver disease, kidney disease, and critical illnesses, drives the demand for albumin in clinical applications. As the global population ages, the incidence of such conditions is expected to increase, further bolstering the need for albumin.
   
• In addition, improved healthcare infrastructure, availability of albumin products, and increased healthcare spending worldwide have made albumin more accessible for clinical use, enhancing its adoption in medical treatments.

Based on end-user, the, hospitals & clinics segment is expected to grow at CAGR of over 6.1% through 2032.
 

• The dominant market share of hospitals and clinics in the albumin market is driven by their central role in patient care, the wide range of albumin applications in medical treatment, accessibility to albumin supplies, specialized care infrastructure, professional expertise, high patient volume, and supportive healthcare spending. These factors collectively ensure the continuous demand and usage of albumin in these healthcare settings.

North America albumin market size exceeded USD 2.3 billion in 2023 and is anticipated to reach USD 3.9 billion by 2032.
 

• North America's dominance in the albumin industry is attributed to its advanced healthcare infrastructure, thriving pharmaceutical industry, high prevalence of chronic diseases, stringent regulatory environment, strong research and development capabilities, aging population, and robust healthcare spending and insurance coverage. These factors collectively position North America as a key market for albumin products and therapies.
   

Albumin Market Share

The albumin industry is characterized by several key players, including global pharmaceutical companies, biotechnology firms, and specialized manufacturers. Companies like CSL Behring, Grifols, Baxter International Inc., Octapharma and China Biologic Products Holdings, Inc. significant contributors to the albumin business. These companies compete based on factors such as product quality, innovation, pricing, distribution networks, and regulatory compliance.
 

Albumin Market Companies

Key players operating in the albumin industry include:

• Albumedix Ltd
• Akron Biotech
• Baxter International Inc.
• Bristol-Myers Squibb Company
• China Biologic Products Holdings Inc.
• CSL Behring LLC
• Grifols (Biotest AG)
• Merck & Co., Inc.
• Octapharma AG
• Thermo Fisher Scientific Inc.
   

Albumin Industry News

• In July 2023, Kedrion Biopharma has announced that China’s National Institutes for Food and Drug Control (NIFDC) has approved BPL’s human Albumin product to be introduced into the Chinese market. This strategic initiative helped the company to expand its geographic reach.
   
• In March 2023, Albumedix and Heartseed have jointly announced that Recombumin, produced by Albumedix, serves as an essential ingredient in Heartseed's HS-001, an investigational cardiac remuscularization cell therapy that has initiated its first human dosing phase. This partnership helped the company to revenue generation, validation of product efficacy, opportunities for collaborative research, and contribution to medical advancements.
   

This albumin market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Product

• Human serum albumin
• Bovine serum albumin
• Recombinant albumin

Market, By Application

• Clinical applications
  • Drug delivery
  • Emergency treatment of shock
  • Burn treatment
  • Intravenous therapy
  • Other clinical applications 
• Drug and device formulation
  • Drug formulation
  • Cell culture media ingredients
  • Vaccine ingredients/stabilization
  • Other drug and device formulation applications
• Diagnostic applications
• Gene therapy formulation
• Nutritional supplements
• Other applications

Market, By End-user

• Hospitals & clinics
• Pharmaceutical & biotechnology industry
• Research institutes and laboratories

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa