New York, USA, June 19, 2023 (GLOBE NEWSWIRE) -- According to Research Dive’s newly published report, the global human serum albumin (HSA) market is predicted to grow at a stable CAGR of 6.8%, thereby garnering a revenue of $7,124.90 million by 2031. This holistic report provides an overarching overview of the nature of the human serum albumin (HSA) market including its main characteristics like growth drivers, growth opportunities, restraints, and hindrances in the 2022-2031 timeframe. The report also contains all the necessary and essential market figures to help new entrants gain an insight into the working of the market.
Dynamics of the Market
Drivers: In the last few years, there has been a massive increase in the awareness among the general populace regarding blood-related disorders such as anemia and hypovolemia which is expected to be the primary growth driver of the human serum albumin (HSA) market in the forecast period. Along with this, increasing demand for effective medical treatments is predicted to push the market forward.
Opportunities: Increasing focus on the development of new treatments and therapies that use human serum albumin is predicted to offer numerous growth and investment opportunities to the market in the forecast period. Moreover, rising use of human serum albumin in biopharmaceutical treatments is anticipated to help the human serum albumin (HSA) market grow substantially in the analysis period.
Restraints: Strict governmental regulations regarding use of human serum albumin especially in developing countries, however, might prove to be a hindrance in the growth trajectory of the human serum albumin (HSA) market.
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Impact of Covid-19 on the Market
The coronavirus pandemic negatively impacted numerous manufacturing and service industries and caused disruptions in global supply chains. The human serum albumin (HSA) market, however, was moderately impacted due to the pandemic. The lockdowns caused a massive disruption in the supply chains as the production cycles of human serum albumin manufacturing companies were hampered. This affected the steady supply of HSA to the medical institutions. However, during the pandemic there was a huge growth in research related to human serum albumin which helped the market regain some of its lost ground.
Segments of the Market
The report has divided the human serum albumin (HSA) market into certain segments based on type, application, and region.
Type: Plasma Derived Sub-Segment to be Highly Dominant
The plasma derived sub-segment is predicted to be one of the most lucrative by 2031. Rising number of people suffering from uncommon diseases has led to an increase in the use of specialized therapeutic treatments such as plasma derived therapy which is predicted to boost the growth of this sub-segment.
Application: Therapeutic Use Sub-segment to Have a High CAGR
The therapeutic use sub-segment is predicted to be highly profitable in the forecast timeframe by 2031. Growing use of human serum albumin to treat a variety of medical conditions, including liver disease, burns, treatment of shock, and kidney disease is predicted to augment the growth rate of this sub-segment in the analysis timeframe.
Region: Market in the Asia-Pacific Region to be the Most Lucrative
The human serum albumin (HSA) market in the Asia-Pacific region is projected to become the most dominant sub-segment by 2031. Increased prevalence of chronic diseases and a huge surge in the aging population of this region are predicted to be the main growth drivers of the market in this region in the forecast period.
Prominent Market Players
Some prominent market players of the human serum albumin (HSA) market are
- Grifols S.A.
- Baxter
- Kedrion S.p.A
- CSL Behring
- Octapharma Brasil Ltd.
- Thermo Fisher Scientific
- Biotest
- Bio Group Co. Ltd.
- Novozymes
- Takeda Pharmaceutical Company Limited
These companies are coming up with various innovations using different business strategies like acquisitions, mergers, and collaborations to gain a prominent position in the market.
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For instance, in August 2022, Sartorius, a medical devices manufacturing company, announced the acquisition of Albumedix, a global biotechnology company. This acquisition is predicted to open up exciting expansion opportunities to the acquiring company i.e., Sartorius in the coming period.
Finally, this report published by Research Dive also summarizes many crucial aspects of the human serum albumin (HSA) market including the latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.
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Human Serum Albumin (HSA) Market Size Projected To Generate A Revenue Of $7,124.90 Million By 2031
