Human Serum Albumin (HSA) Market to Exhibit 6.8% CAGR and Generate $7,124.9 Million by 2031 | Research Dive
NEW YORK, June 26, 2023 /PRNewswire/ --
The global human serum albumin (HSA) market is predicted to see striking growth by 2031, owing to the increasing incidence of chronic diseases among individuals globally. The Asia-Pacific region held the largest market share in 2021.
NEW YORK, June 26, 2023 /PRNewswire/ --
Global Human Serum Albumin (HSA) Market Forecast Analysis:
As per the report published by Research Dive, the global human serum albumin (HSA) market is projected to generate a revenue of $7,124.90 million and grow at a CAGR of 6.8% over the estimated timeframe from 2022 to 2031.
Segments of the Human Serum Albumin (HSA) Market
The report has divided the human serum albumin (HSA) market into the following segments:
- Type: plasma-derived and recombinant
- Plasma Derived – Held the largest market share in 2021
The increasing occurrence of uncommon diseases among individuals has increased the need for specialized treatments such as plasma-derived therapy which is expected to fuel the growth of the market sub-segment throughout the forecast period. - Application: therapeutic use, drug delivery, genetic disease, and others
- Therapeutic Use – Generated the highest revenue in 2021
The increasing use of human serum albumin in therapeutic applications such as providing effective treatments for a variety of medical conditions such as liver disease, burns, treatment of shock, and kidney disease is predicted to propel the growth of the market sub-segment in the coming period. - Region: North America, Europe, Asia-Pacific, and LAMEA
- Asia-Pacific – Accounted for the dominant market share in 2021
The increasing demand for human serum albumin across the region due to the increasing prevalence of chronic diseases and the aged population, the growing number of surgeries, and the rising research and development activities are expected to boost the regional growth of the market further.
Access to the Complete PDF Sample of the Human Serum Albumin (HSA) Market
Dynamics of the Global Human Serum Albumin (HSA) Market
The increasing incidences of chronic diseases among individuals such as cirrhosis, kidney diseases, and cancer have increased the demand for human serum albumin for treating these critical medical conditions which is expected to fortify the growth of the human serum albumin (HSA) market over the forecast period. Moreover, the increasing demand for human serum albumin due to the rising incidences of accidents and injuries is expected to fuel the growth of the market throughout the analysis timeframe. However, the strict government regulations in developing countries may hamper the growth of the market throughout the estimated period.
The increasing use of human serum albumin in the biopharmaceutical treatment of critical diseases such as cancer, kidney diseases, and many others is predicted to create immense growth opportunities for the market over the forecast period. Moreover, the growing potential of biopharmaceuticals to treat albumin levels in specific populations such as pregnant women, pediatrics, and the elderly population is predicted to foster the growth of the human serum albumin (HSA) market over the analysis period.
Covid-19 impact on the Global Human Serum Albumin (HSA) Market
Unlike other industries, the rise of the Covid-19 pandemic has had a significant impact on the human serum albumin (HSA) market. This is mainly due to the increasing demand for human serum albumin for research and development activities to produce its alternative such as recombinant human serum albumin. This has created huge growth opportunities for the market over the pandemic period. However, the disruptions in supply chains and increasing demand, and the closure of many manufacturing units have slowed down the production and distribution of human serum albumin throughout the crisis.
Key Players of the Global Human Serum Albumin (HSA) Market
The major players of the market include
- Octapharma Brasil Ltd
- Baxter
- Bio Group Co. Ltd.
- Takeda Pharmaceutical Company Limited.
- Kedrion S.p.A
- Biotest
- Thermo Fisher Scientific
- CSL Behring
- Novozymes
- Grifols S.A.
These players are mainly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
For instance, in November 2021, Grifols, a renowned producer of plasma-derived medicines announced the launch of its new albumin portfolio innovation, namely, ALBUTEIN FlexBag™. It is produced to meet the needs of hospitals and pharmacies across the U.S. which would help healthcare professionals minimize bubble accumulation during infusion and avoid needle sticks.
Granular Research on Specific Regions or Segments of Human Serum Albumin (HSA) Market & Avail 10%OFF
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Human Serum Albumin (HSA) Market:
- Human Serum Albumin: The Protein Having Potential for Leveraging Various Medical Applications
- Global Human Serum Albumin (HSA) Market to Generate $7,124.90 Million by 2031, Due to Increasing Awareness about Blood-Related Disorders
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