Market Overview:
Rhu albumin is a modified human serum albumin produced from yeast using recombinant DNA technology. It has a similar structure and function as human serum albumin but is produced from yeast. Rhu albumin finds applications as a stabilizing agent in formulations of therapeutic proteins and antibodies. It helps to enhance the stability of formulations by maintaining physiological pH, acting as a buffer, and preventing aggregation of proteins. Rhu albumin is used as a plasma volume expander during surgeries to replace lost fluids and treat conditions linked to low albumin levels like liver diseases.
Market key trends:
One of the key trends in the Rhu Albumin market is the rising adoption of albumin protein products. Albumin protein has wide applications in the pharmaceutical and biotechnology industries. It is used as an excipient in vaccines, drug formulations, and immunotherapy products. According to research, the global albumin market was valued at US$ 4 billion in 2021 and is estimated to grow at a CAGR of over 7% during 2022-2030. Growing therapeutic applications of albumin proteins is expected to drive the demand for rhu albumin which is used in the production of albumin protein products. Another key trend is the increasing research activities in recombinant human serum albumin (rHSA). Many companies are investing in R&D to develop enhanced rHSA products with improved yield, stability, and functionality.
The global Rhu Albumin Market Size is estimated to be valued at US$ 14.16 Mn in 2023 and is expected to exhibit a CAGR of 10. % over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
The threat of new entrants: Low capital requirements and established distribution channel poses a threat of new competitors entering the market.
Bargaining power of buyers: A large customer base with increasing awareness shifts bargaining power towards buyers.
Bargaining power of suppliers: Suppliers have lower bargaining power compared to buyers due to the presence of multiple raw material suppliers.
Threat of new substitutes: Substitute availability and increasing R&D investments pose a threat from new substitutes.
Competitive rivalry: Intense competition due to the presence of local and international players.
Key Takeaways
The global Rhu Albumin Market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing applications in the biopharmaceutical industry and rising disease prevalence.
North America dominates the Rhu Albumin Market owing to rising healthcare expenditure and increasing biologics research. Asia Pacific is expected to exhibit the fastest growth during the forecast period attributed to the rapidly growing pharmaceutical industry in China and India.
Key players operating in the Rhu Albumin Market are Merck KGaA, HiMedia Laboratories Pvt. Ltd., Albumin Bioscience, Albumedix, ScienCell Research Laboratories, Inc., InVitria, Lazuline Biotech Private Limited, Lee Biosolutions, Inc., Abcam Plc, and Shandong Kingtone Biotechnology Co.,Ltd. Merck KGaA leads the market with wide distribution network. New product launches and acquisitions are key strategies adopted by players to gain a competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
