New York, United States , Oct. 24, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Bovine Serum Albumin Market Size to grow from USD 5.58 billion in 2021 to USD 22.0 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period. The bovine serum albumin market has grown due to the novel product introduction in the bovine serum albumin field. Additionally, increasing the serum in a dietary whey protein enhances market growth. The Asia Pacific is expected to grow the fastest during the forecast period
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The human serum albumin segment accounts for the largest market size during the forecast period
Based on the product, the global Bovine serum albumin market is categorized into Human Serum Albumin, Bovine Albumin, and Recombinant Serum Albumin. The human serum albumin segment accounts for the largest market size during the forecast period. Using human serum albumin (HSA) as the main protein in the development and improvement of molecular imaging has a lot of good qualities. Also, the release of brand-new products that fit into the market will help the market grow. In November of 2021, for example, Grifols showed off their most recent albumin portfolio innovation. The product was sold under the brand name ALBUTEIN FlexBag (Albumin (Human) U.S.P., and it came in concentrations of 5% and 25%.
Browse key industry insights spread across 240 pages with 183 market data tables and figures & charts from the report "Global Bovine Serum Albumin Market Size, Share, and COVID-19 Impact Analysis, By Product (Human Serum Albumin, Bovine Albumin, and Recombinant Serum Albumin), By Application (Therapeutic, Drug Delivery, Culture Media, Vaccine Ingredient, and Others) , and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." in detail along with the table of contents
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The drug delivery segment to hold a higher CAGR during the forecast period
Based on application, the Bovine serum albumin market is categorized into Therapeutic, Drug Delivery, Culture Media, Vaccine Ingredient, and Others. The drug delivery segment accounts for the largest market size during the forecast period. Bovine serum albumin, also known as BSA, was employed to generate nanoparticles for use in a drug delivery system. Laser light scanning was used to measure the size of the manufactured nano-particles.
North America is estimated to account for the highest market share in 2021.
The Global bovine serum albumin market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is expected to be the largest market. Because of the high demand for albumin in research and development activities, the rising production of immunoglobulins, the growing non-therapeutic applications of albumin, and the rise in plasma collection in the North American region, it is anticipated that the North American region will dominate the market. It is anticipated that the United States would have the majority share of market growth. This is because the United States is home to a very large number of companies that are involved in the biopharmaceutical industry. For instance, as of June 2020, clinicaltrials.gov reports that there are around 107 current clinical studies connected to albumin in the United States. These trials are at various levels of development and are being conducted for a variety of different reasons. Asia-Pacific to hold a higher CAGR during the forecast period.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global bovine serum albumin market include ,Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories, Inc (U.S.), Merck KGAA (Germany), Itoham Yonekyu Holdings Inc (Japan), Proliant Biologicals (U.S.),Kraeber & Co Gmbh (Germany), Rockland Immunochemicals Inc (U.S.), Rocky mountain biologicals (U.S.), BelHealth investment partners, LLC (U.S.), Bio-Techne Corporation (U.S.), Prospec-Tany Technogene Ltd (Israel), LGC Group (U.K.), Promega Corporation (U.S.), Biological Industries (Israel), Serion GmbH (Germany).
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