The blood that courses through the bodies of humans, accounting for around 7 percent of total body weight, is made up of 55 percent of blood plasma, of which 75-80 percent of the blood plasma comprises of albumin. As the predominant serum binding protein in the body, albumin carries our several important functions, including transporting hormones, medications, vitamins, enzymes and other material through the body, and maintaining sufficient pressure within the blood vessels.
Albumin plays an essential role in the human body, and it’s necessary that a person has an adequate albumin supply in case of any illness or injury. The synthesis of albumin from human blood has given rise to an entire market for albumin, which can be used during medical treatment. Since human albumin has approximately 3-year validity, it’s more viable and convenient to use than blood that has a maximum validity of 21 days.
Albumin Market Analysis
The global albumin market size is expected to reach 1,260 Metric Tons (MT) by 2020, with the emerging countries having a higher growth rate for albumin with a compound annual growth rate (CAGR) of 8 percent till 2020. In comparison, the albumin market growth rate in Europe and North America is around a CAGR of 3 percent in the same period.
Market Drivers: The market for albumin is growing at a rapid pace driven by the increasing demand from the medical field and from pharmaceuticals.
Having adequate levels of albumin is necessary for any medical treatment since the albumin is responsible for transporting hormones and medicines throughout the body. Albumin is synthesized from human blood and used to in cases of blood loss, trauma, surgeries, infections, and burns, as it helps replace lost fluids and stabilize blood volume in the body. It is becoming a popular alternative to blood transfusions, since there is greater availability of albumin as compared to blood, due to the differences in their validity. Low values of natural albumin in the body is a condition known as Hypoalbuminemia, that can be caused by liver failure, heart failure, kidney infections or protein-losing enteropathy, which is treated with synthesized human albumin. For medical purposes, albumin is administered intravenously in concentrations of 4-5 percent and 20 percent.
Albumin is also being increasingly used as a pharmaceutical stabilizer in the composition of various formulations and in vaccines. As albumin reduces the denaturation and adhesion of the protein active ingredients, it prevents their loss. Albumin is a suitable choice for vaccines because of it having insignificant immunogenicity upon injection into a patient.
Market Challenges: Although there are numerous factors driving the growth of the albumin market, there are certain challenges as well. The synthesis and production process of albumin continues to be under revision with there being multiple ways in the manufacturing process. The quality of albumin is considered to be influenced by the production process to a certain degree. One of the most significant challenges faced by the albumin market is the high costs involved in setting up manufacturing plants and developing the required forms of albumin. Another factor is the requirement of trained personnel to manufacture and dispense albumin. There are many health benefits of albumin, but it is required to be administered by a qualified medical technician only.
Albumin Market Global Outlook
At a global level, Italy is a major consumer in the albumin market, followed by the U.S. and China while the market is less developed in emerging economies. Use of albumin is considerably low in countries like India due to lack of access to health care and the affordability of products. At a global level, the top 3 manufacturers are CSF, Grifols, and Shire which together occupy over 50 percent of the albumin supply market, although there are other major manufacturers based out of China like Hualan Biologics and Shanghai Raas.
The global outlook for the albumin market is overall positive, due to the benefits of using albumin in medical treatment and pharmaceuticals. Although there is a significantly low presence of the albumin market in emerging countries, largely due to challenges in manufacturing, it’s expected that in the coming years, the technology for developing albumin will expand globally at a rapid pace. The medical benefits of albumin are especially useful in developing countries with less advanced healthcare facilities as a single product of albumin can play several roles in treating illnesses and injuries.
The market for albumin is set to grow at a steady pace in the future, with a positive global outlook, driven by its many applications and health benefits. Technology advancements in the development and synthesis of albumin and in the modes of administration are set to expand the market even further. Albumin has an important role in the healthy functioning of the human body and the ability to synthesize it from blood offers immense possibilities, especially for those patients facing blood loss, accidents, trauma, surgery or any other emergency situation.
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