The global albumin (as excipient) market was valued at US$ 750 Mn in 2017 and is anticipated to reach US$ 1200 Mn by 2026 at a CAGR of over 5.0% from 2018 to 2026.
Albany, NY -- (SBWIRE) -- 09/21/2018 -- Increase of demand for albumin (as excipient) is expected to see rapid growth owing to widespread applications such as development of drugs and vaccines, or as a culture medium or stabilizing agent. Revenue earned from the albumin (as excipient) market are estimated to grow at a CAGR of 5% through 2026. These insights have been taken from the report titled "Albumin (as Excipient) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026" added recently to the huge repository of Market Research Reports Search Engine (MRRSE).
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Human serum albumin is anticipated to account for major market share in terms of revenue during the forecast period. This can be attributed to increase of life-threatening disorders and conditions, such as liver diseases, infections, and cardiac surgeries leading to other health issues like hypoalbuminemia.
Increasing applications of albumin as a multifunctional excipient, the shift trend toward the utilization of recombinant albumin, and the advent of regulatory approvals and trials are the key factors driving growth in the market. On the other hand, prohibitory costs and shortage of professionals with the expertise needed to set up production plants and stringent regulations are considered to be significant constraining factors.
North America and Europe are expected to continue as market share leaders owing to a rise in investments in life sciences by numerous biopharmaceutical companies and research institutes in these regions during the forecast period.
Major players in the albumin (as excipient) market are focusing on partnership strategies with pharmaceutical companies for research and development of advanced albumin products, to gain competitive benefits.
Albumin (as Excipient) Market: Report Synopsis
The report delivers a global as well as regional-level analysis & forecast on the albumin (as excipient) market, in terms of value (US$ Mn), for the period of forecast 2018 to 2026. Essential business dynamics, and important economic factors that impact development and demand for albumin (as excipient) have been highlighted and studied closely in the report.
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A detailed value chain analysis on the albumin (as excipient) industry has been offered in the report, and it has been used to help the readers to gain a better understanding of the competitive scenario among important market players including aspects such as market positioning, SWOT analysis and business strategies. A market attractiveness analysis has also been provided in the report, where applications have been accurately benchmarked on the terms of their market size, general attractiveness, and growth rate.
Albumin (as Excipient) Market: Research Methodology
Elaborate discussions and in-depth interviews have been conducted with a variety of eminent industry experts and opinion leaders in order to develop this report. Comprehensive primary and secondary research methodologies have been used, which have helped in extracting reliable and authentic intelligence on the albumin (as excipient) market. Primary research represents bulk of the research efforts, which has been validated and supported by a thorough secondary research.
Leading companies and new entrants in the albumin (as excipient) market have been reviewed thoroughly. In addition, press releases, annual reports, and relevant documents have been leveraged for analysis on the market's competitor landscape and market understanding. The research approach employed here has been proven to be most reliable, successful, and an effective approach to take precise insights on the market data, recognize latent business opportunities, and gain vital information on the industry participants.
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