The global albumin market is likely to gain traction from the rising usage of recombinant DNA technology to safely produce significant proteins and other components in the laboratory setting. This information is given by Fortune Business Insights™ in a recent study, titled, “Albumin Market Size, Share & Industry Analysis, By Product (Human Serum Albumin (HSA), Recombinant Albumin, and Bovine Serum Albumin (BSA)), By Application (Therapeutics, Diagnostics, and Research) By End User (Hospital & Clinics, Pharmaceutical & Biotechnology Industry, and Research Institutes), and Regional Forecast, 2019-2026.” The study further states that the albumin market size was USD 4.29 billion in 2018 and is projected to reach USD 6.77 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period.

Highlights of the Report:

In-depth analysis of various insights, namely, Albumin Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Albumin Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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Key Players Operating in The Albumin Market Include:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

Kedrion S.p.A
Octapharma AG
Biotest AG
Takeda Pharmaceutical Company Limited
CSL Limited
Merck KGaA
Grifols, S.A
Seracare Life Sciences
Novozymes
Other prominent players
Segment-

Therapeutic Segment to Dominate Owing to Rising Prevalence of Hypovolemia

Based on application, the market is grouped into diagnostics, research, and therapeutics. Amongst these, the therapeutics segment held 66.4% albumin market share in 2018. This segment is likely to remain in the dominant position throughout the forecast period stoked by the increasing prevalence of hypovolemia and other similar disorders. Therefore, the sales of drugs for treating these disorders are also rising. Companies, such as CSL Limited and Takeda are the major contributors to growth of this segment by developing innovative plasma-derived products. Several pharmaceutical, as well as biotechnology companies are also investing huge sums in research and development activities to unveil new therapeutic products

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Drivers & Restraints-

Development of Fractionation Facilities to Skyrocket Demand

Usage of protein is upsurging day by day owing to their possession of several advantages. They are mainly used in the development of crucial drugs. Italy, the U.S., and Belgium, for instance, are exhibiting high demand for protein. It is, in turn, leading to the construction of multiple fractionation facilities for keeping up with the demand and supply balance. These facilities help in fragmenting plasma into albumin and other components. Development of such facilities is aiding the biotechnology and pharmaceutical industries in creating state-of-the-art products for research, diagnostics, and therapeutics applications. However, unavailability of therapeutic products may hinder market growth.