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What is the forecasted revenue size of the human albumin industry by 2029?
The human albumin market size has XX (HCAGR) in recent years. It will grow from $XX million in 2024 to $XX million in 2025 at a compound annual growth rate (CAGR) of XX%. The growth in the historic period can be attributed to increasing demand for biopharmaceuticals, growing clinical trials, rising health concerns, increasing healthcare expenditure, and growing need for human serum albumin-based therapies.
The human albumin market size is expected to see XX (FCAGR) in the next few years. It will grow to $XX million in 2029 at a compound annual growth rate (CAGR) of XX%. The growth in the forecast period can be attributed to the rising incidence of chronic disorders, rising healthcare advances, a growing number of surgeries, a growing geriatric population, rising government initiatives, and growing awareness of human albumin and plasma. Major trends in the forecast period include facility expansion, drug approval by authority, strategic collaboration, personalized medicines, and technological advancements.
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Which industry-specific innovations are acting as key drivers for the human albumin market?
The rising incidence of chronic disorders is expected to drive the human albumin market. Chronic disorders, also known as chronic diseases, are long-term conditions that persist over time and often require ongoing medical management. The rise in chronic disorders is primarily driven by factors such as aging populations, sedentary lifestyles, poor dietary choices, and increasing stress levels. Human albumin is used in chronic kidney disease to manage hypoalbuminemia and maintain oncotic pressure, improving fluid balance and reducing complications. For instance, in June 2023, according to the report published by Kidney Research UK, a UK-based charity, in the UK, approximately 7.2 million people, over 10% of the population, are affected by chronic kidney disease. Among them, 3.25 million individuals are in the severe stages, while an additional 3.9 million are in the early stages, frequently undiagnosed and symptom-free. By 2033, it is anticipated that the population with chronic kidney disease will reach 7.61 million. Therefore, the rising incidence of chronic disorders will drive the human albumin market.
Which segment currently leads the human albumin market in terms of revenue share?
The human albumin market covered in this report is segmented –
1) By Product: Human Serum Albumin, Recombinant Albumin, Bovine Serum Albumin
2) By Clinical Indication: Hypovolemia, Hypoalbuminemia, Burns And Shock, Liver Diseases, Neonatal Conditions, Surgical And Critical Care, Other Clinical Indications
3) By Application: Therapeutics, Drug Formulation And Vaccine, Component Of Media, Other Applications
4) By End-User: Hospitals And Clinics, Pharmaceutical And Biotechnology Industry, Research Institutes
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What future trends will impact the direction of the human albumin industry?
The key trend in the human albumin market is focusing on obtaining drug approval from authorities to gain a competitive edge in the industry. Securing drug approval ensures that a medication is safe, effective, and of high quality, which builds confidence among healthcare providers and patients. Additionally, it allows the product to be marketed and sold legally, thereby expanding its reach and potential for widespread use. For instance, in June 2023, Kedrion Biopharma Inc., an Italy-based biotechnology pharmaceutical company, announced the approval of Bio Products Laboratory (BPL)’s human albumin product by China’s National Institutes for Food and Drug Control (NIFDC), marking a significant milestone as it is the first BPL product approved for the Chinese market. This approval enables regular shipments to China, the largest market for human albumin, which accounted for 627 tons of demand compared to a global total of 1,368 tons in 2021.
Who are the top competitors in the global human albumin market?
Major companies operating in the human albumin market include Takeda Biopharmaceuticals Private Ltd.; Merck KGaA; Baxter International Inc.; CSL Behring; Grifols SA; Octapharma AG; Sanquin Plasma Products BV; Taibang Biologic Group; Bovogen Biologicals Pty Ltd.; Akron Biotech
What regional dynamics are shaping the future of the global human albumin market?
North America was the largest region in the human albumin market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human albumin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
How Can Companies Use The Human Albumin Market Report to Drive Business Results?
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• Time market entry or expansion using growth forecasts and CAGR trends.
• Develop competitive products by tracking key technology shifts and user preferences.
• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.
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