Albumin Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast 2014 - 2020
Albany, NY (PRWEB) February 25, 2015
According to a new market report published by Transparency Market Research “Albumin (Excipient) Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast, 2014 - 2020,” the global albumin excipient market was valued at USD 704.9 million in 2013 and is expected to grow at a CAGR of 2.3% from 2014 to 2020, to reach an estimated value of USD 828.2 million by 2020.
Selection of appropriate excipients is very important during the development of drug formulations and vaccines. A suitable excipient helps stabilize and protect an active pharmaceutical ingredient (API) in the formulation against degradation, oxidation or aggregation that the API could undergo during manufacturing, transport and storage. As an excipient, albumin has wide applications in drug formulation, drug delivery, vaccine manufacturing and as a component of media for the production of vaccines. Manufacturers are increasingly considering innovative ways to reduce contamination risks of finished products due to the recent incidents of animal virus contamination of biopharmaceutical products. Manufacturers must adhere to strict regulations on the standards and also provide detailed information on the country of origin (BSE free), the types of tissue used and details of the manufacturing process during the compliance and approval procedure.
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The global albumin market is analyzed by albumin type, applications and geography. On the basis of type, the market is segmented into human serum albumin, bovine serum albumin and recombinant albumin. Human serum albumin was the largest segment and was valued at USD 476.7 million in 2013. The segment is expected to reach USD 557.0 million in 2020, growing at a CAGR of 2.2% during the forecast period between 2014 and 2020. Bovine serum albumin is used in the production of vaccines such as MMR II, Varivax, Zostavax and RotaTeq in ranges of less than 1 ppm. Extensive research to explore new ways is underway to increase virus yield and quality in manufacturing. Recently, end-user preference has been observed to have shifted towards recombinant human albumin (rAlbumin) used in multiple applications such as in nano formulation and drug carrier over specific therapeutic modalities. Advances in yeast-based protein expression and the successful scale-up have led to the development of an industrial-scale manufacturing process that can produce a highly pure, animal-free rAlbumin suitable for use as an excipient in biotherapeutics.
Primary applications of albumin include drug formulation and drug delivery, vaccines, and component of media. The drug formulation and drug delivery segment is expected to reach USD 395.9 million in 2020. Expansion of the role of albumin in drug delivery has widened the field of nanotechnology as well. For instance, Abraxis BioScience has applied nanotechnology to human serum albumin (HSA) with its nanoparticle albumin-bound, known as ‘NAB’ technology platform. This approach combines HSA with an API for delivering protein drugs.
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Geographically, North America continues to dominate the market due to high demand for albumin in drug formulations, and research and development activities. The albumin market in the region was valued at USD 253.8 million in 2013. The current focus of the research community in most of the academic institutions and industry is to use albumin as a carrier for micro- and nanoparticles for sustained-release injectable drugs. Paclitaxel nano-particulate formulation containing albumin as a carrier was approved by the U.S. FDA in September 2013. Countries such as China, India and Australia exhibit significant growth prospects in terms of rapid increase in the research collaboration between industry and research institutions. GlaxoSmithKline Pharmaceuticals Limited (GSK) is funding around USD 4 million per year to initiate research and development program with the leading research institutions in Asia Pacific for the development of potential therapeutics.
Other Report : Biological Drugs Market : http://www.transparencymarketresearch.com/biological-drugs-market.html
Some of the major companies operating in the global albumin market are CSL Behring, HiMedia, InVitria, Mitsubishi Tanabe Pharma, Octapharma AG, Novozymes A/S, Raybiotech, Inc., Sigma-Aldrich Corporation, Thermo Fischer Scientific, Inc. and MedxBio Pte. Ltd. Pharmaceutical companies and research institutes obtain the desired albumin excipient grade from the market players for their development activities. The key players in the global albumin market improve their distribution network by entering into strategic alliances and distributorship agreements. For instance, InVitria partnered with Thermo Fischer Scientific and Sigma-Aldrich in order to provide its customers with product support best tailored to meet their needs. InVitria has distributors across the world including North America, Europe, Asia and Australia.
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