Rhu Albumin Market is estimated to witness high growth owing to increasing product demand for cell culture applications

Market Overview:
Rhu albumin are recombinant forms of human serum albumin produced in yeast cells. It is widely used as an excipient in drug formulations and biotherapeutic drugs. The product offers high solubilization capacity, stability and non-immunogenic nature. Rhu albumin finds application in lyophilized drugs, vaccine stabilization and blood volume substitutes owing to their stabilizing properties.

Market key trends:
One of the key trends in the Rhu Albumin market includes its increasing use as an excipient in vaccine and drug formulations. Rhu albumin helps improve protein stability, increase solubility and acts as a buffering agent to maintain pH. It is widely replacing animal and human albumins as an excipient owing to risks of transmission of animal diseases and limited supply of human albumin. Rapid growth of biotherapeutics and vaccines market is expected to drive the demand for Rhu Albumin over the forecast period.

Segment Analysis
The global Rhu Albumin market is segmented on the basis of source, application, end user and region. By source, the recombinant human albumin segment dominated the market in 2022 and will continue to do so over the forecast period. Rhu albumin sourced from plants and yeast contributes to large-scale commercial production as it ensures cost-effectiveness and consistent quality.

By application, therapeutic applications held the largest share of the Rhu Albumin market in 2022 owing to growing usage of rhu albumin in conditions like burns, shock, liver diseases, and hypoproteinemia. The therapeutic segment is expected to grow at a high CAGR during the forecast period.

Key Takeaways
The Global Rhu Albumin Market Size was valued at US$ 84.9 Mn in 2022 and is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period due to growing applications of rhu albumin in diagnostics and research.

Regional analysis - North America dominated the Rhu Albumin market in 2022 accounting for around 35% of the global market share. This was due to improved healthcare infrastructure and increased healthcare expenditure in the region. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to rising healthcare needs, increasing healthcare expenditure, and growing focus of market players on emerging Asian countries.

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. Merck KGaA and HiMedia Laboratories Pvt. Ltd. captured over 50% of the global market share in 2022 owing to their diverse product portfolios and strong geographic presence across regions.

Read more: https://www.ukwebwire.com/rhu-albumin-market-trends-forecast/