rHu Albumin is a recombinant human albumin protein used in various chronic and acute conditions where plasma volume expansion is required. rHu Albumin finds wide applications in critical care, chronic liver failure, burns, shock, surgery, and albumin administration. The increasing prevalence of chronic illnesses and life-threatening conditions has boosted the demand for rHu Albumin.
The global rHu Albumin Market is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The rising incidence of chronic liver diseases, trauma injuries, and burns cases has accelerated the demand for rHu Albumin in critical care applications. As per the recent studies, chronic liver diseases affect over 4 million people in the US annually. rHu Albumin helps sustain plasma volume and prevent organ damages in such critical conditions. Moreover, the increasing demand for plasma volume expanders in surgery and trauma care is also fueling the growth of the rHu Albumin market. The key manufacturers are engaged in new product launches to cater to the rising demand from hospitals and trauma care centers.
Segment Analysis
The global rHu Albumin market is segmented by application into surgical wounds, burns, hypoalbuminemia, resuscitation. The hypoalbuminemia sub-segment dominates the market. Hypoalbuminemia is a medical condition characterized by low level of albumin in blood. It is commonly seen in patients with chronic medical conditions like advanced liver disease. As a result, the hypoalbuminemia sub segment captures a major chunk of the overall rHu Albumin market share.
Key Takeaways
Global rHu Albumin Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global rHu Albumin Market is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030.
Regional analysis
The North America region currently dominates the global rHu Albumin market and is expected to maintain its leading position over the forecast period as well. This can be attributed to the presence of advanced healthcare infrastructure and growing number of critical care patients in countries like the US and Canada. However, Asia Pacific region is poised to depict the fastest growth over the coming years primarily due to rising medical tourism, increasing healthcare expenditure and growing incidence of chronic diseases in developing nations like India and China.
Key players
Key players operating in the rHu Albumin market are Cerner Corporation, Elekta, Accuray, RaySearch Laboratories, Flatiron Health, Koninklijke Philips N.V., McKesson Corporation, Epic Systems Corporation, CureMD Healthcare, Varian Medical Systems, Inc. Cerner Corporation is currently the dominant player with the largest market share owing to its diverse product portfolio and strong global presence. Epic Systems Corporation and McKesson Corporation also enjoy a significant market share.
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Bovine serum albumin and human serum albumin are albumins obtained from bovine and human plasma, respectively.
Recombinant albumin is manufactured using recombinant techniques in bacteria and viruses.China is the largest consumption place, with a consumption market share nearly 53.9% in 2017.
Following China, North America is the second largest consumption place with the consumption market share of 20% in 2017.Market competition is intense.
CSL, Grifols, Shire (Baxalta), Octapharma, Hualan Bio are the leaders of the industry, and have been formed in the monopoly position in the industry.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-albumin-2019-2024-962According to this study, over the next five years the Albumin market will register a 6.7% CAGR in terms of revenue, the global market size will reach US$ 6070 million by 2024, from US$ 4380 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Albumin business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Albumin market by product type, application, key manufacturers and key regions and countries.This study considers the Albumin value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.Human Serum AlbuminBovine Serum AlbuminRecombinant AlbuminSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.TherapeuticsVaccine IngredientCulture Medium IngredientOtherThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.The key manufacturers covered in this report: Breakdown data in in Chapter 3.CSLGrifolsShire (Baxalta)OctapharmaHualan BioCBPORAASKedrionMerckLFB GroupAlbumedixThermo Fisher ScientificVentria (InVitria)In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.
It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global Albumin consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Albumin market by identifying its various subsegments.Focuses on the key global Albumin manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Albumin with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the consumption of Albumin submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/life-sciences/global-albumin-2019-2024-962Table of content2019–2024 Global Albumin Consumption Market Report1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Albumin Consumption 2014–20242.1.2 Albumin Consumption CAGR by Region2.2 Albumin Segment by Type2.2.1 Human Serum Albumin2.2.2 Bovine Serum Albumin2.2.3 Recombinant Albumin2.3 Albumin Consumption by Type2.3.1 Global Albumin Consumption Market Share by Type (2014–2019)2.3.2 Global Albumin Revenue and Market Share by Type (2014–2019)2.3.3 Global Albumin Sale Price by Type (2014–2019)2.4 Albumin Segment by Application2.4.1 Therapeutics2.4.2 Vaccine Ingredient2.4.3 Culture Medium Ingredient2.4.4 Other2.5 Albumin Consumption by Application2.5.1 Global Albumin Consumption Market Share by Application (2014–2019)2.5.2 Global Albumin Value and Market Share by Application (2014–2019)2.5.3 Global Albumin Sale Price by Application (2014–2019)3 Global Albumin by Players3.1 Global Albumin Sales Market Share by Players3.1.1 Global Albumin Sales by Players (2017–2019)3.1.2 Global Albumin Sales Market Share by Players (2017–2019)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
