Global bovine serum albumin market is estimated to witness high growth due to increasing demand & growing pharmaceutical industry
Global bovine serum albumin market is estimated to be valued at USD 425.1 Mn in 2024, exhibiting a CAGR of 3.5% over the forecast period (2024-2031). Factors such as increasing demand for bovine serum albumin from biopharmaceutical and therapeutic industries and growing pharmaceutical industry can drive the market growth. Furthermore, its rising applications in cell culture and drug delivery systems can also drive the market growth.
Market Dynamics:
Growing pharmaceutical industry and increasing demand from biopharmaceutical industry: Bovine serum albumin is used in biopharmaceutical industry for manufacturing and development of drugs, vaccines, and other bio-therapeutics. It acts as stabilizing agent in diverse formulation development. Moreover, growing pharmaceutical industry worldwide has augmented demand for bovine serum albumin in the recent years. According to IQVIA, global pharmaceutical market was valued at USD 1.27 trillion in 2020 and is estimated to reach USD 1.65 trillion by 2025, thus, driving the bovine serum albumin market growth.
Increasing applications in cell culture and drug delivery systems: Bovine serum albumin has emerged as a key element and growth supplement used in cell culture media, owing to its serum-replacing properties. It plays an important role in cell adhesion, differentiation, and proliferation.
Increasing demand from pharmaceutical and biotechnology industries
Bovine serum albumin is used in pharmaceutical and biotechnology industries for cell culture media preparation, drug formulation, diagnostics, antibody production and other downstream processes. Growing pharmaceutical and biotechnology sectors globally can boost demand for bovine serum albumin. According to estimates, the global market for biopharmaceuticals is expected to exhibit a CAGR of over 7% until 2025. This growing need for therapeutic proteins and monoclonal antibodies produced via cell culture processes can boost sales of bovine serum albumin in the near future.
Advancements in protein therapeutics and vaccine development
The field of protein therapeutics and vaccine development has advanced tremendously in recent decades. Multiple new molecules are in the pipeline for indications such as diabetes, cancer, cardiovascular diseases and infectious diseases. As bovine serum albumin plays a crucial nutrient supplementation role in the upstream and downstream development stages of these biologics, its demand rises accordingly. The launches of novel recombinant protein drugs, cell and gene therapies vaccines offer lucrative opportunities for the market growth. The industry is also witnessing greater R&D towards complex, niche indications which further stimulates research activities and albumin consumption.
Stringent regulatory framework increases compliance costs
Being a critical raw material for pharmaceutical and diagnostic products, bovine serum albumin faces high regulatory standards by agencies like USFDA and EMA. Market players need to abide by rigorous guidelines across the entire supply chain regarding sourcing, production, processing, storage and distribution. This results in increased costs related to manufacturing facilities, certifications, quality testing and documentation. Particularly, smaller firms involved in BSA production and supply have difficulty meeting all regulatory criteria. Stricter norms also disrupt the pricing dynamics in the industry.
Availability of alternative substrates poses competition
Market players have witnessed growing competition from alternative cell culture media components such as recombinant human serum albumin and synthetic albumin. Certain biopharma companies favor these plant-derived or genetically engineered substitutes to bovine serum albumin due to advantages such as lower risk of adventitious agents and fewer regulatory hassles. While the efficacy and performance of these alternatives is still being validated at a large scale, their availability at competitive costs threatens the established position of bovine serum albumin, especially in developed regions.
Rising bioproduction in emerging countries opens new avenues
Biopharmaceutical manufacturing landscape is rapidly shifting towards emerging Asian countries like China, India and South Korea, owing to their expanding biotech industries, skilled workforce and relatively lower costs. Majority of the new bioproduction facilities being set up in these regions will require a stable supply of critical raw materials like bovine serum albumin over the project lifecycle. This presents lucrative business opportunities for established market players to tap into vital regional markets and gain new customers. Moreover, growing biosimilars production in these countries can boost albumin demand in the future.
Advent of single-use technologies spurs albumin recycling
Adoption of single-use bioprocess technologies has been rising across the biomanufacturing industry due to advantages such as reduced cleaning validation efforts. While single-use enables higher operational flexibility and throughput, it also leads to larger volumes of bioprocess wastes containing unspent albumin. This has prompted innovative recycling solutions to recover and reuse bovine serum albumin from process streams. If commercialized at scale, such recycling technologies can boost the productivity and sustainability of the market in the long term. It presents new revenue models through albumin recovery services as well.
Link: https://www.coherentmarketinsights.com/market-insight/bovine-serum-albumin-market-4636
Key Developments:
- In August 2023, Dyadic International announced positive third-party test results for its animal-free recombinant serum albumin, developed using the company's proprietary fungal-based microbial platforms. Dyadic successfully produced stable cell lines for recombinant bovine and human serum albumin, with initial tests showing the recombinant bovine albumin is structurally equivalent to the commercial animal-derived version.
- In April 2022, Apotex Corporation launched a generic version of Abraxane, known as Paclitaxel protein-bound particles for injection (albumin-bound), in the U.S.
- In January 2022, Bio Products Laboratory (BPL) announced that China's National Medical Products Administration (NMPA) had approved the sale of ALBUMINEX 25% in China.
Key Player:
Thermo Fisher Scientific, Merck KGaA, Proliant Biologicals, Bio-Rad Laboratories, Inc., LGC Group, Promega Corporation, Biological Industries, Serion GmbH, Life Sciences Group Ltd., Sisco Research Laboratories Pvt. Ltd., Bovogen Biologicals Pty Ltd., Biophyll GmbH, AusGeneX Pty Ltd., Gemini Bio, Rockland Immunochemicals, Inc., Rocky Mountain Biologicals, LAMPIRE Biological Lab, Inc., Bio-Techne Corporation, Prospec-Tany Technogene Ltd., and Kraeber & Co GmbH
