Press Release Title:Albumin (Excipient) Market Expected to Reach USD 0.8 Billion Globally in 2020
Albumin Market (Types: Human Serum Albumin, Bovine Serum Albumin, and Recombinant Albumin; Applications: Drug Formulation and Drug Delivery, Vaccines, and Component of Media) - Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast 2014 – 2020
According to a new market report published by Transparency Market Research “Albumin (Excipient) Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends and Forecast, 2014 - 2020,” the global albumin excipient market was valued at USD 704.9 million in 2013 and is expected to grow at a CAGR of 2.3% from 2014 to 2020, to reach an estimated value of USD 828.2 million by 2020.
Selection of appropriate excipients is very important during the development of drug formulations and vaccines. A suitable excipient helps stabilize and protect an active pharmaceutical ingredient (API) in the formulation against degradation, oxidation or aggregation that the API could undergo during manufacturing, transport and storage. As an excipient, albumin has wide applications in drug formulation, drug delivery, vaccine manufacturing and as a component of media for the production of vaccines. Manufacturers are increasingly considering innovative ways to reduce contamination risks of finished products due to the recent incidents of animal virus contamination of biopharmaceutical products. Manufacturers must adhere to strict regulations on the standards and also provide detailed information on the country of origin (BSE free), the types of tissue used and details of the manufacturing process during the compliance and approval procedure.
The global albumin market is analyzed by albumin type, applications and geography. On the basis of type, the market is segmented into human serum albumin, bovine serum albumin and recombinant albumin. Human serum albumin was the largest segment and was valued at USD 476.7...