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The Global Albumin Market was valued at USD 5.16 billion in 2021 and is expected to reach USD 7.66 billion by the year 2028, at a CAGR of 5.8%.
Albumin is a simple protein present in both, animal and plant physiological fluids and tissues. In humans, it is synthesized in the liver and accounts for 25% of the total proteins synthesized by the liver. After synthesis in the liver, it is released into the bloodstream. It plays many vital roles such as maintenance of appropriate osmotic pressure, binding & transport of various compounds like hormones & drugs in blood, and neutralization of free radicals. Albumin is an important binding protein of plasma constituents that if circulated in free-form would be toxic to human health. It also supplies amino acids when hydrolyzed, and is the main extravascular scavenger.
Top Key Players Covered in The Albumin Market
Albumedix Ltd. (UK), Albumin Bioscience (US), Biotest AG (Germany), CSL Behring (US), Grifols International SA (Spain), HiMedia Laboratories Pvt. Ltd. (India), InVitria (US), Medxbio Pte. Ltd. (Singapore), MilliporeSigma (US), Octapharma AG (Switzerland), RayBiotech Inc. (Georgia), Seracare Life Sciences Inc. (the US), Akron Biotech (US), Bristol-Myers Squibb Company (US)
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For the Purpose Of This Report, Reports And Data Has Segmented The Global Albumin Market On The Basis Of Type, By Source, By Product, And Region:
By Product
- Recombinant Albumin
- Bovine Serum Albumin
- Human Serum Albumin
By Application
- Ingredient in Culture Media
- Vaccine Ingredient
- Therapeutics & Drug Delivery
- Others
By End-Users
- Research Institutes
- Pharmaceutical
- Biotechnology Industry
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By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Covid-19 Impact Analysis On Albumin Market
The outbreak of COVID-19 severely impacted the manufacturing facilities of several industries. To curb the spread of the SARS CoV-2 virus, the nationwide lockdown was imposed by multiple nations across the globe. There was a shortage of albumin products in the market due to the unavailability of the workforce and restrictions on transport. Studies found that a low level of albumin increased the mortality rate in individuals. Therefore, the demand for external albumin dosage significantly increased during the pandemic period. The pandemic disclosed the fragile supply chains present in the albumin as well as in other medical products. China and India are the two major suppliers of raw active pharmaceutical ingredients (APIs).
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