Seattle, June 20, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights’ analysis, the global rHu albumin market is estimated to be valued at US$ 84.9 Million in 2022 and is expected to exhibit a CAGR of 10.0% during the forecast period (2022-2030).
Key Trends and Analysis of the Global rHu Albumin Market:
Key trends in the market include increasing research and development activities, and increasing product launches or approvals.
Market players are involved in research and development activities in rHu albumin, which is expected to spur growth of the global rHu albumin market over the forecast period. For instance, in March 2021, Wuhan Healthgen Biotechnology Corp., a private company, which specializes in molecular pharmaceutical research, initiated a phase 2 clinical trial to study the efficacy of OsrHSA, a recombinant HSA (Human Serum Albumin), which is expressed and purified from the plant Oryza sativa, in patients with decompensated cirrhotic ascites.
Market players are involved in product launches and approvals, which is expected to drive growth of the global rHu albumin market. For instance, in May, 2018, CSL Behring, a global bio-therapeutics company, announced that the U.S. Food and Drug Administration (FDA) approved a 3500 IU (international unit) vial size for IDELVION [Coagulation Factor IX (Recombinant), Albumin Fusion Protein (rFIX-FP)], its new, long-acting recombinant albumin fusion protein for hemophilia B treatment. Factor IX’s…
