rHu Albumin is Estimated to Witness High Growth Owing to Wide Applications in Critical Care Medicine

 

rHu Albumin Market 

Recombinant human albumin (rHu Albumin) is a sterile preparation of purified albumin produced by recombinant DNA technology. It is used to replace lost fluid in conditions such as burns, shock, blood transfusions and surgery where there has been substantial fluid loss from the circulatory system. rHu Albumin maintains the balance of blood volume and aids in maintaining proper blood pressure. It also serves as a carrier and transporter of nutrients and medications throughout the body and assists in regulating blood pH and other biochemical processes.

The global rHu Albumin Market 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 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The wide applications of rHu Albumin in critical care medicine is estimated to witness high growth over the forecast period. rHu Albumin is widely used for volume expansion in conditions like burns and trauma where greater fluid resuscitation is required. It is also indicated for hypoalbuminemia due to liver failure and nephrotic syndrome. The increasing number of patients suffering from such critical illnesses is expected to propel the growth of the rHu Albumin Market over the next few years. Additionally, advantages of rHu Albumin over plasma-derived albumin such as reduced risk of contamination and higher stability is also anticipated to boost its adoption.

SWOT Analysis

Strength: rHu Albumin is a recombinant form of human serum albumin which is similar to human serum albumin in composition, structure and function. This provides advantages over other albumin products as it reduces risk of disease transmission. rHu Albumin has a long shelf life of more than 2 years and is stable at room temperature which reduces cold chain requirements and provides logistical benefits.

Weakness: High production cost of rHu Albumin compared to plasma-derived albumin increases its price. Dependence on cell culture technology and fermentation process increases production complexity.

Opportunity: Increasing prevalence of hypoalbuminemia and albumin deficiency disorders worldwide presents potential growth opportunities. Rising healthcare expenditure in developing regions also supports market expansion. Growing therapeutic applications of albumin in areas such as oncology, hematology, and hepatology offer scope for additional revenues.

Threats: Stringent regulatory norms governing recombinant protein production slows approval timelines. Risk of product failures and recalls due to manufacturing defects negatively impact sales and brand reputation. Intense competition from alternatives like plasma-derived human albumin threatens market share.

Key Takeaways

The Global rHu Albumin Market Share is expected to witness high growth over the forecast period of 2023 to 2030 supported by a CAGR of 10%. The market was valued at US$ 14.16 Mn in 2023 and is anticipated to reach US$ 26.57 Mn by 2030 as albumin finds increasing therapeutic usage.

Regional analysis: Asia Pacific region dominates the global rHu Albumin market currently and is expected to maintain its leading position during the forecast period. This can be attributed to rising healthcare investments, growing incidences of protein deficiency disorders, and availability of local manufacturers in the region. China, India and Japan represent major national markets within Asia Pacific for rHu Albumin.

Key players: 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. These companies are focused on expanding production capacities and global reach through strategic collaborations to strengthen market share.

Get more insights on this topic: https://www.pressreleasebulletin.com/rhu-albumin-market-trends-size-and-share-analysis/

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