Market Trends of Albumin Industry
The Human Serum Albumin Segment is Expected to Witness a Notable Growth in the Studied Market Over the Forecast Period
Human serum albumin (HSA) is the serum albumin found in human blood and is the most available protein in human blood plasma. As one of the most abundant proteins in blood plasma, human serum albumin facilitates the transport of hormones, fatty acids and various compounds through the bloodstream. Also, HSA helps in maintaining osmotic blood pressure in the body. Human serum albumin is utilised under multiple clinical conditions, such as restoration of blood volume, emergency treatment of shock, acute management of burns, and other situations associated with hypovolemia, and hence, they are in high demand worldwide.
Factors such as an increase in hypovolemia conditions due to various chronic diseases, a rise in utilisation of human serum albumin in intensive care units, and an increase in HSA product launches by the key players are expected to fuel the segment growth over the forecast period. For instance, cancer patients are likely to be hypovolemic due to continuous vomiting and diarrhoea or inadequate intake of fluids. An increase in cancer cases is expected to raise the demand for HSA, bolstering market growth. For instance, according to the American Cancer Society 2023 Cancer Statistics, about 1.93 million cancer cases are estimated to be reported in 2023 in the United States. The high burden of cancer is expected to augment the demand for HSA, thereby boosting segment growth over the forecast period.
Furthermore, the presence of key players and their strategic activities like product launches, collaborations and agreements are likely to raise the availability and demand for the HSA over the forecast period. For instance, in November 2021, Grifols launched its latest albumin portfolio innovation, ALBUTEIN FlexBag (Albumin [Human] U.S.P.), in 5% and 25% concentrations. Furthermore, an increase in research studies demonstrating the advantages the HSA offers in various therapies will likely contribute to the market growth over the forecast period. For instance, as per the article published in February 2023 in the RSC Advances journal, the researchers demonstrated that compared with individual chemotherapy or photodynamic therapy (PDT) nanoplatforms, hollow human serum albumin had a better anticancer effect via the combination of PDT with chemotherapy after loading photosensitiser Ce6 and anticancer drug DOX. Hence, with such advances and benefits offered by the HSA in chronic disease treatment, the studied segment is expected to grow significantly over the forecast period. Additionally, hypoalbuminemia is considered one of the significant indications of protein-calorie malnutrition and chronic liver disease. Thus, an increase in research funding related to nutrition can include the research and development support of various HSA products, which is expected to augment the segment growth over the study period.
Thus, due to the increase in the adoption of HSA in chronic disease treatment, and the rise in strategic product launches by the key players coupled with benefits offered by the HSA in drug delivery, the studied segment is expected to witness notable market growth over the forecast period.
North America is Expected to Witness a Significant Growth Over the Forecast Period
The North American region is expected to witness healthy growth over the forecast period, owing to the presence of key market players and their strategic activities, the rise in cancer cases, which leads to hypoalbuminemia and a surge in research and development activities to develop albumin-based products.
The increase in liver cancer among the North American population is on the rise, which is expected to raise the demand for HSA, as hepatic cell carcinoma patients with lower serum albumin levels had significantly larger maximum tumour diameters compared to higher albumin level patients. For instance, according to the Canadian Cancer Society, 3,500 Canadians were diagnosed with liver cancer in 2022. These cancers mainly affect adults and are more common in men than women. Further, according to a study published in March 2022 in PubMed, hypoalbuminemia was an independent risk factor for tumour progression in early-stage, non-ablative hepatocellular carcinoma (HCC). Thus, the high prevalence of HCC is expected to bolster the demand for albumin-based products, which is further likely to augment the market growth in North America over the forecast period.
Moreover, strategic activities by the key players, such as product launches, partnerships, acquisitions, and rising investments, are further expected to drive the market as these activities are likely to increase the availability of albumin products across the North American region. For instance, in July 2022, EKF Diagnostics revealed the availability of the FDA-cleared Lucica Glycated Albumin-L test kit, manufactured by Asahi Kasei Pharma Corp. and sold exclusively in the United States by EKF. Lucica Glycated Albumin-L is a specific, quantitative glycated albumin test for intermediate-term glycemic control monitoring in patients with diabetes. It is an enzymatic method for compatible clinical chemistry analysers with open channel capability.
Thus, due to the high prevalence of chronic disease, which requires albumin-based treatment and the rise in strategic product launches by the key players, North America is expected to witness significant market growth over the forecast period.
