IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
SHERIDAN, WYOMING, UNITED STATES, November 12, 2021 /EINPresswire.com/ — According to IMARC Group latest report titled” Albumin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Global Albumin Market to grow at a CAGR of around 5% during 2021-2026. Albumin refers to the water-soluble globular protein present in blood plasma. It is synthesized in the liver and is essential for maintaining the blood volume and transportation of enzymes, bile salt molecules, hormones, etc. Albumin is widely available in human, bovine, and recombinant variants. It is vital for sustaining the intravascular colloid osmotic pressure (COP) and preventing leakage of fluids into the tissue. Albumin is utilized as a blood volumizer to treat rare diseases, burns, liver disorders, blood loss trauma, etc. As a result, it finds extensive applications in drug delivery systems, therapeutics, culture media, vaccines, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The growing prevalence of chronic medical ailments across the globe is primarily driving the albumin market. In line with this, the expanding geriatric population, which is more susceptible to such conditions, is also propelling the market growth. Furthermore, the escalating utilization of albumin for the development of drugs and stable vaccine formulations is catalyzing the product demand. Besides this, the increasing adoption of human serum albumin (HSA) to replenish proteins in the human plasma and maintain plasma colloid oncotic pressure is acting as another growth-inducing factor. Additionally, the introduction of product-based nanoparticles and the rising number of R&D activities in the field of biotechnology are projected to bolster the albumin market in the coming years.
Explore full report with table of contents: https://www.imarcgroup.com/albumin-market
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Celgene Corporation (Bristol-Myers Squibb Company)
Medxbio Pte Ltd
Takeda Pharmaceutical Company Limited
Thermo Fisher Scientific Inc.
Ventria Bioscience Inc
Albumin Market Segmentation:
Our report has categorized the market based on region, product, application and end use industry.
Breakup by Product:
Human Serum Albumin
Bovine Serum Albumin
Breakup by Application:
Drug Formulation and Vaccine
Component of Media
Breakup by End User:
Hospitals and Clinics
Pharmaceutical and Biotechnology Companies
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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