Human Serum Albumin (HSA) Market Size Projected to Generate a Revenue of $7,124.90 Million by 2031Download Sample Reports Overview
The Global Human Serum Albumin (HSA) Market Size is predicted to be valued at $7,124.90 million by 2031, surging from $3,762.30 million in 2021, at a noteworthy CAGR of 6.8%.
Impact Analysis of COVID-19 on the Human Serum Albumin (HSA) Market
The COVID-19 pandemic has had a major impact on the global human serum albumin (HSA) market. Human serum albumin is a protein that is commonly used in hospitals to treat patients with a variety of conditions, including dehydration, liver disease, and treatment of shock. The demand for HSA increased significantly due to the COVID-19 pandemic as more patients were hospitalized for treatment. However, the production and supply of HSA was affected by the pandemic. The restrictions on the movement of people and goods, as well as the shutdown of non-essential businesses, disrupted the supply chain for HSA. Additionally, many HSA manufacturers have had to reduce production due to the lack of raw materials and labor shortages. Furthermore, the COVID-19 impact on human serum albumin (HSA) market has had a significant impact, both positively and negatively. The demand for HSA increased due to the increasing number of patients with COVID-19, but the supply chain was disrupted due to the pandemic. However, the industry is expected to recover in the coming years as the world continues to manage the pandemic and the supply chain returns to normal.
Global Human Serum Albumin (HSA) Market Analysis
The advancements in medical technology, such as new methods for manufacturing human serum albumin, have increased the availability and efficiency of this product, driving its demand in the market. Governments of various countries have been actively promoting the use of human serum albumin, providing incentives and subsidies for its production, and increasing the number of hospitals and healthcare facilities, which has further fueled the growth of the market. The aging population, which is more susceptible to chronic diseases and health complications, has led to rising demand for human serum albumin, as the elderly population requires more medical care and attention. The growing awareness about the benefits of human serum albumin has led to an increased demand for the product, as more people are opting for its use in various medical treatments and procedures. These are the major factors anticipated to boost the human serum albumin (HSA) market growth during the analysis timeframe.
However, the stringent quality standards set by regulatory agencies such as FDA and the European Medicines Agency (EMA) require strict adherence to quality standards for the production of HSA These quality standards can increase the cost of production and lower the profit margins for manufacturers. The approval process for new human serum albumin (HSA) products is also lengthy and requires extensive clinical trials, which can further delay the market entry of new players. Furthermore, the regulations surrounding human serum albumin (HSA) products can also limit the distribution channels available to manufacturers. For example, in some countries, human serum albumin (HSA) products may only be sold through licensed medical distributors, reducing the ability of manufacturers to reach potential customers directly. All of these regulatory restrictions on the human serum albumin (HSA) market have a significant impact on the human serum albumin (HSA) market size.
The increasing investment in R&D to develop new and innovative products is due to the rising demand for human serum albumin market.al Companies are investing in R&D to develop new and advanced products with better efficiency and quality, leading to increased demand for human serum albumin. Additionally, the development of novel technologies in the field of pharmaceuticals is expected to create new opportunities for the human serum albumin market. These technologies are aimed at improving the acquisition process of human serum albumin, making it more efficient, cost-effective, and scalable. The increasing investment in R&D is expected to create new growth opportunities for the human serum albumin market, resulting in the development of new and advanced products that cater to the increasing demand from the pharmaceutical industries.
Global Human Serum Albumin (HSA) Market, Segmentation
The global human serum albumin (HSA) market is segmented based on type, application, and region.
The type segment is further classified into plasma derived and recombinant. Among these, the recombinant sub-segment is anticipated to show the fastest growth by 2031. Recombinant human serum albumin is a genetically engineered version of human serum albumin produced using recombinant DNA technology. It is used in various applications such as drug delivery, cell culture, and diagnostics. The increasing demand for recombinant human serum albumin in the pharmaceutical and biotechnology industries is driving the growth of the recombinant segment of the human serum albumin market. The advantages of recombinant human serum albumin over traditional serum albumins, such as higher purity, better safety, and lower risk of contamination, are also contributing to its growing popularity.
The application segment is further classified into therapeutic use, drug delivery, genetic disease, and others. Among these, the therapeutic use sub-segment accounted for the largest human serum albumin (HSA) market share in 2021. Human serum albumin is used in various therapeutic applications due to its ability to bind and transport a wide range of molecules, including drugs, hormones, and fatty acids. It is also used in the treatment of various medical conditions, such as treatment of shock, burns, liver diseases, and kidney diseases. The growing prevalence of these medical conditions, coupled with the increasing demand for effective and safe therapeutic options, is expected to drive the demand for human serum albumin in the coming years. Moreover, the increasing use of human serum albumin in drug delivery systems is expected to further boost the human serum albumin (HSA) market growth.
The human serum albumin (HSA) market analysis in the Asia-Pacific region accounted for a highest market share in 2021 and is projected to show the fastest growth. The Asia-Pacific region is a major driver of the human serum albumin market due to several factors. One of the primary reasons is the increasing prevalence of chronic diseases such as liver cirrhosis, kidney disease, and cancer in the region. Human serum albumin is widely used for the treatment of these diseases and is in high demand. Furthermore, the growing aging population in the region is another significant factor driving the market growth. As the elderly population increases, the demand for human serum albumin also increases, as it is often used for treating conditions associated with aging such as malnutrition and infections. Furthermore, the increasing number of surgical procedures and trauma cases in the region also boosts the human serum albumin (HAS) market demand.
Key Players in the Global Human Serum Albumin (HSA) Market
Some of the leading human serum albumin (HSA) market players are
- Grifols S.A.
- CSL Behring
- Takeda Pharmaceutical Company Limited
- Octapharma Brasil Ltd
- Bio Group Co. Ltd.
- Kedrion S.p.A
- Thermo Fisher Scientific
In May 2020, Bio Products Laboratory (BPL), a leading manufacturer of plasma-derived protein therapeutics, introduced ALBUMINEX 5% (human albumin) solution for injection and ALBUMINEX 25% (human albumin) solution for injection, both of which will be accessible in the US market immediately.