Albumin Market (Types: Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin; Applications: Drug Formulation and Drug Delivery, Vaccines, and Component of Media) - Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 07/22/2015 -- Albumin today is a popular protein that is used for functions such as therapy, diagnosis, and also used as an excipient. The global albumin (excipient) market includes those that are most suited for stabilizing and protecting a drug during its many stages till it is administered. It protects an active pharmaceutical ingredient or a drug against degradations, aggregation, and oxidation. The excipient is present with the drug since the drug's formulation and protects it during manufacturing, storage, and transportation. An excipient's feasibility is checked through preformulation studies that check the interactions it has with the intended drug and the environment. An excipient may find vast areas of usability in drug formulation and delivery, along with the manufacture of vaccine and to provide a medium during vaccine production.
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Albumin is one of the most popular excipients due to its relatively stable character which makes it easy to handle and store. One of the key advantages of using albumin is its intrinsic stability, due to which it can be heated to 60°C for 10 hours. This facilitates the inactivation of viruses during drug production.
Global Albumin Market Segmentation
The three categories of classifying the global albumin market are applications, type, and geography. By type, the market becomes:
Human Serum Albumin
Bovine Serum Albumin
Human serum albumin held the largest market share in 2013 and was worth US$476.7 million. The bovine serum albumin segment is the second largest, but faces restraining factors mostly concerning ethics. There have been many protests against the alleged cruel treatment of bovine fetuses in the process of obtaining bovine serum. Another restraining factor is the retention of certain amount of impurities in the albumin excipient. The issues with bovine serum albumin are proving to be more and more serious, prompting many researchers to search for alternatives. The fastest growing segment in the global albumin market by type is the recombinant albumin, with a CAGR of 2.7% within the forecast period of 2014 to 2020.
The global albumin market according to volume is segmented into:
Drug formulation and delivery
Components of medium
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The four general regions that are identified to function in the global albumin market are North America, Europe, Asia Pacific, and the Rest of the World.
Overall Market Drivers and Restraints
The major growth-improving factors in the global albumin market are improvements in product stability, the rapid growth of the recombinant albumin segment, and improvements in the purification technology of proteins. Researchers are gaining in quality and level of access to technology, promoting a faster rate of advancement.
On the other hand, the restraining factors in the global albumin market are just as serious. They include the shift in preference towards the use of chemically defined serum-free media that threatens to cut off avenues of development in the market. Animal cruelty protesters are also adding pressure against the bovine albumin segment, making it difficult for the segment to grow.
The leading players in the global albumin (excipient) market include Thermo Fisher Scientific, Sigma-Aldrich Corporation, RayBiotech Inc., Octapharma AG, Novozymes A/S, Mitsubishi Tanabe Pharma Corp., MedzBio Pte. Ltd., InVitria, HiMedia Laboratories Pvt. Ltd., and CSL Behring LLC.
The global albumin market is currently expected to grow at a CAGR of 2.3% through a time window of 2014 to 2020. The market was previously valued at US$704.9 million in 2013, and according to calculations, should reach a total worth of US$828.2 million by 2020. Improved product stability being its primary factor of growth, the market is set to expand itself in terms of product quality and demand.
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