Pune, April 22, 2020 (GLOBE NEWSWIRE) -- The global albumin market is likely to gain traction from the rising usage of recombinant DNA technology to safely produce significant proteins and other components in the laboratory setting. This information is given by Fortune Business Insights™ in a recent study, titled, “Albumin Market Size, Share & Industry Analysis, By Product (Human Serum Albumin (HSA), Recombinant Albumin, and Bovine Serum Albumin (BSA)), By Application (Therapeutics, Diagnostics, and Research) By End User (Hospital & Clinics, Pharmaceutical & Biotechnology Industry, and Research Institutes), and Regional Forecast, 2019-2026.” The study further states that the albumin market size was USD 4.29 billion in 2018 and is projected to reach USD 6.77 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/albumin-market-102637
What Does This Report Contain?
- In-depth information about albumin market trends, growth drivers, and barriers.
- Competitive landscape including mergers and acquisitions, collaborations and partnerships, innovative product launches, investments, agreements, and contracts.
- Extensive analysis of the dominant region presents in the market.
- Profiles of all the renowned organizations and the strategies that they are following to generate more sales.
- List of all the segments.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/albumin-market-102637
Drivers & Restraints-
Development of Fractionation Facilities to Skyrocket Demand
Usage of protein is upsurging day by day owing to their possession of several advantages. They are mainly used in the development of crucial drugs. Italy, the U.S., and Belgium, for instance, are exhibiting high demand for protein. It is, in turn, leading to the construction of multiple fractionation facilities for keeping up with the demand and supply balance. These facilities help in fragmenting plasma into albumin and other components. Development of such facilities is aiding the biotechnology and pharmaceutical industries in creating state-of-the-art products for research, diagnostics, and therapeutics applications. However, unavailability of therapeutic products may hinder market growth.
Segment-
Therapeutic Segment to Dominate Owing to Rising Prevalence of Hypovolemia
Based on application, the market is grouped into diagnostics, research, and therapeutics. Amongst these, the therapeutics segment held 66.4% albumin market share in 2018. This segment is likely to remain in the dominant position throughout the forecast period stoked by the increasing prevalence of hypovolemia and other similar disorders. Therefore, the sales of drugs for treating these disorders are also rising. Companies, such as CSL Limited and Takeda are the major contributors to growth of this segment by developing innovative plasma-derived products. Several pharmaceutical, as well as biotechnology companies are also investing huge sums in research and development activities to unveil new therapeutic products.
Regional Analysis-
Increasing Sales of Drugs in China to Favor Growth in Asia Pacific
Geographically, the market is segregated into Latin America, the Middle East and Africa, North America, Europe, and Asia Pacific. Asia Pacific generated USD 2.39 billion in 2018 in terms of albumin market revenue. This growth is mainly attributable to the expansion of plasma fractionation facilities, as well as increasing sale of drugs in China. The country is considered to house the largest market because it has imposed high prices on its products. In North America and Europe, the market is likely to experience a comparatively lower CAGR fueled by the availability of drugs and the existence of unique healthcare facilities.
Quick Buy - Albumin Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102637
Competitive Landscape-
Major Players Aim to Acquire Other Companies to Strengthen Position
The market is highly fragmented and competitive. CSL Limited is one of the leading organizations possessing around 30% of the global market share. This growth is attributable to the organization’s adoption of the acquisition strategy with several China-based companies. Other, namely, Grifols, S.A. and Takeda are persistently investing huge sums in research and development activities to open new facilities. Below are a couple of the latest industry developments:
- October 2017: Green Cross Biotherapeutics Inc. started a new innovative biomanufacturing facility in North America and Montreal. It is equipped with state-of-the-art equipment and produces plasma-derived products, especially for albumin and intravenous immunoglobulin (IVIg).
- October 2017: The U.S. FDA approved LUCICA glycated albumin–L, an in-vitro diagnostic assay kit meant for glycated albumin. It was developed by Asahi Kasei Pharma.
Fortune Business Insights™ lists out some of the most prominent companies operating in the albumin market. They are as follows:
- Kedrion S.p.A
- Octapharma AG
- Biotest AG
- Takeda Pharmaceutical Company Limited
- CSL Limited
- Merck KGaA
- Grifols, S.A
- Seracare Life Sciences
- Novozymes
- Other prominent players
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/albumin-market-102637
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch
- Pipeline Analysis
- Overview: Trends in Albumin Market
- Prevalence of Related Disorders - By Key Countries
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Albumin Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Human Serum Albumin
- Recombinant Albumin
- Bovine Serum Albumin
- Market Analysis, Insights and Forecast – By Application
- Therapeutics
- Diagnostics
- Research
- Market Analysis, Insights and Forecast – By End User
- Hospital & Clinics
- Pharmaceutical & Biotechnology Industry
- Research Institutes
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/albumin-market-102637
Have a Look at Related Reports:
Plasma Fractionation Market Size, Share & Industry Analysis, By Product Type (Albumin, Immunoglobulin (Intravenous Immunoglobulin and Subcutaneous Immunoglobulin), Coagulation Factors, Protease Inhibitors and Others), By Application (Immunology & Neurology, Hematology, Critical Care, Pulmonology and Others), By End User (Hospitals & Clinics,) and Geography Forecast, 2019-2026
Immunoglobulin Market Size, Share and Global Trend By By Route of Administration (Intravenous (IV), Subcutaneous (SC)), By Indication (Primary Immunodeficiency, Chronic Inflammatory Demyelinating Polyneuropathy (CIDP), Guillain-Barré Syndrome (GBS), Immune Thrombocytopenic Purpura (ITP), Multifocal Motor Neuropathy (MMN)), By Form (Liqui, Lyophilized), By End User(Hospitals, Clinics, Homecare) and Geography Forecast till 2026
Prothrombin Complex Concentrate (PCC) Market Size, Share and Global Trend By Product Type (3-factor PCC, 4-factor PCC), Application (Congenital and Acquired Coagulation Factor deficiency), End User (Hospitals, Ambulatory Surgical Centers) and Geography Forecast till 2025
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release: https://www.fortunebusinessinsights.com/press-release/albumin-market-9771