New York, USA, Oct. 24, 2022 (GLOBE NEWSWIRE) — According to a research report published by Spherical Insights & Consulting, the Global bovine serum albumin market size to grow from USD 5.58 billion in 2021 to USD 22.0 billion by 2030, at a compound annual growth rate (CAGR) of 16.5% over the forecast period. The bovine serum albumin market has grown due to the introduction of new products in the field of bovine serum albumin. Additionally, the increase in serum in a dietary whey protein enhances the market growth. Asia-Pacific is expected to experience the fastest growth over the forecast period
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The COVID-19 pandemic has had a negative impact on credit portfolios. There has been an unprecedented rise in unemployment and disruptions to economic activity, putting a strain on the creditworthiness of customers and businesses. Central banks have taken a proactive approach by injecting liquidity into the market through lower interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk in financial markets was difficult enough with ongoing geopolitical tensions, international trade wars, and occasional hurricanes and earthquakes. The current pandemic situation has forced risk managers and their teams to recalibrate old assumptions and models used to manage and monitor risk. The global impact of COVID-19 has shown that interdependence plays an important role in international cooperation. As a result, many governments have started to rush to identify, evaluate, and acquire reliable AI-powered solutions.
Human serum albumin segment represents the largest market size during the forecast period
On the basis of product, the global bovine serum albumin market is categorized into human serum albumin, bovine albumin, and recombinant serum albumin. The human serum albumin segment accounts for the largest market size during the forecast period. The use of human serum albumin (HSA) as a main protein in the development and improvement of molecular imaging has many advantages. Moreover, the release of brand new products suitable for the market will help the market to grow. In November 2021, for example, Grifols introduced its latest albumin portfolio innovation. The product was sold under the brand name ALBUTEIN FlexBag (Albumin (Human) USP), and it came in 5% and 25% strengths.
Browse key industry information spread across 240pages with 183 market data tables and The figures & graphics of the report”Global bovine serum albumin market sizeCOVID-19 sharing and impact analysis, by product (human serum albumin, bovine albumin and recombinant serum albumin), by application (therapeutic, drug delivery, culture media, vaccine ingredient and others) and by region (South America North, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” in detail with the table of contents
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Drug Distribution Segment to Hold a Higher CAGR During the Forecast Period
Based on applications, the bovine serum albumin market is categorized into therapeutics, drug delivery, culture media, vaccine ingredient and others. The drug delivery segment accounts for the largest market size during the forecast period. Bovine serum albumin, also known as BSA, has been used to generate nanoparticles for use in a drug delivery system. A laser light scan was used to measure the size of the fabricated nanoparticles.
North America is estimated to account for the highest market share in 2021.
The global bovine serum albumin market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is expected to be the biggest market. Due to the high demand for albumin in research and development activities, increasing production of immunoglobulins, growing non-therapeutic applications of albumin, and increasing plasma collection in the North American region , the North American region is expected to dominate the market. It is expected that the United States would have the majority share of the market growth. Indeed, the United States is home to a very large number of companies involved in the biopharmaceutical industry. For example, in June 2020, clinicaltrials.gov reports that there are approximately 107 ongoing clinical studies related to albumin in the United States. These trials are in various stages of development and are being conducted for various reasons. Asia-Pacific to maintain a higher CAGR during the forecast period.
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Key companies and recent developments: The report also provides elaborate analysis focusing on current business news and developments, including product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This helps to assess the overall competition in the market. The major vendors in the global bovine serum albumin market are Thermo Fisher Scientific (USA), Bio-Rad Laboratories, Inc (USA), Merck KGAA (Germany), Itoham Yonekyu Holdings Inc (Japan), Proliant Biologicals (USA), Kraeber & Co Gmbh (Germany), Rockland Immunochemicals Inc (USA), Rocky Mountain Biologicals (USA), BelHealth Investment Partners, LLC (USA), Bio-Techne Corporation ( United States), Prospec-Tany Technogene Ltd (Israel), LGC Group (United Kingdom), Promega Corporation (United States), Biological Industries (Israel), Serion GmbH (Germany).
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