Market Dynamics and Financial Trajectory for the Biologic Drug: KEDBUMIN
Introduction to KEDBUMIN
KEDBUMIN is a biologic drug developed by Kedrion Biopharma, a company specializing in plasma-derived therapies. This albumin-based product is crucial in various medical applications, including blood volume expansion, treatment of liver diseases, and burns.
Global Albumin Market Overview
The global albumin market is projected to grow significantly, driven by the critical applications of albumin in the medical field. Here are some key statistics:
- Market Size: The albumin market is estimated at USD 7.27 billion in 2024 and is expected to reach USD 10.56 billion by 2029, growing at a CAGR of 7.76% during the forecast period[1].
- Geographical Segmentation: The market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America holds the largest share, with 37.04% of the market in 2024, while the Asia-Pacific region is the fastest-growing market[1].
Role of Albumin in Medical Treatments
Albumin plays a vital role in several therapeutic areas:
- Blood Volume Expansion: Albumin is used to expand blood volume in patients suffering from shock, burns, or other conditions that lead to fluid loss.
- Liver Diseases: It is crucial in the treatment of liver diseases, such as cirrhosis and hepatocellular carcinoma (HCC), which are prevalent and drive demand for albumin-based products[1].
- Burns Treatment: Albumin is used to treat severe burns by helping to maintain osmotic pressure and fluid balance.
Market Drivers
Several factors drive the growth of the albumin market, including:
- Increasing Prevalence of Chronic Diseases: The rise in cases of liver and intrahepatic bile duct cancer, as well as other chronic conditions, increases the demand for albumin-based treatments[1].
- Technological Advancements: Advances in blood separation processes and the development of specialized plasma-related products contribute to market growth[5].
- Emerging Markets: Growing demand in emerging markets, particularly in the Asia-Pacific region and parts of Africa, is another significant driver[1].
Kedrion Biopharma's Position in the Market
Kedrion Biopharma is a key player in the plasma-derived therapies market, including albumin products like KEDBUMIN:
- Revenue and Profitability: In 2021, Kedrion reported a turnover of EUR 660.4 million, with EBITDA reaching EUR 99.0 million, or 15.0% of revenues. The company's net income was around EUR 11.6 million, almost twice the previous year[3].
- Market Presence: Kedrion has a global footprint, with the United States being its biggest market, accounting for 43.0% of turnover, followed by Europe and the rest of the world[3].
- Strategic Activities: The company has been focused on strategic acquisitions and partnerships, such as the recent partnership with Permira to combine with BPL, a UK-based biopharmaceuticals company. This move is expected to strengthen Kedrion's position in the global market for plasma-derived therapies[3].
Financial Performance of Kedrion Biopharma
Kedrion Biopharma's financial performance reflects the overall trends in the albumin market:
- Revenue Growth: Revenues from Kedrion's plasma derivatives segment, which includes albumin products, increased by 2.8% in 2021 to EUR 596 million. This growth was driven by positive trends in prices of immunoglobulin and other plasma-derived products[3].
- Plasma Collections: Plasma collections increased by 35% in the last two quarters of 2021, mainly driven by pandemic recovery in the U.S. This trend is expected to continue and accelerate in the following years[3].
- Financial Health: As of December 31, 2021, Kedrion's net financial position totaled EUR 528.0 million, including EUR 134.2 million in cash and EUR 264.0 million in undrawn credit lines[3].
Impact of COVID-19 on the Albumin Market
The COVID-19 pandemic had a significant impact on the albumin market:
- Demand-Supply Imbalance: The pandemic exacerbated the already strained demand-supply landscape for albumin, as reduced plasma volumes affected production[5].
- Recovery and Growth: Despite these challenges, companies like Kedrion managed to stay focused on cost control, strategic acquisitions, and finding ways to offset the reduced plasma volumes. The industry recovery trend has continued to gain strength post-pandemic[3].
Emerging Trends and Opportunities
Several emerging trends and opportunities are shaping the future of the albumin market:
- Recombinant Albumin Production: Innovations in recombinant albumin production offer substantial opportunities for companies to focus on innovation, efficacy, and sustainability[1].
- Targeting Emerging Markets: Companies can position themselves for growth by targeting emerging markets, particularly in the Asia-Pacific region and parts of Africa[1].
- Specialized Plasma-Related Products: Advances in blood separation processes and the development of specialized plasma-related products are expected to impart significant growth momentum to the plasma protein market and subsequently the albumin market[5].
Regulatory Approvals and Product Development
Regulatory approvals play a crucial role in the growth of the albumin market:
- Recent Approvals: Products like Albuminex and KEDBUMIN have been recently approved by the FDA, contributing to market expansion[5].
- Pipeline of Biologic Drugs: The strong pipeline of biologic drugs, including novel treatments such as gene therapy, antisense, and RNAi therapies, is projected to drive market expansion in the coming years[4].
Conclusion
The albumin market, driven by the demand for products like KEDBUMIN, is poised for significant growth. Key drivers include the increasing prevalence of chronic diseases, technological advancements, and emerging market opportunities. Kedrion Biopharma, with its strong financial performance and strategic positioning, is well-equipped to capitalize on these trends.
Key Takeaways
- The global albumin market is expected to grow from USD 7.27 billion in 2024 to USD 10.56 billion by 2029.
- Kedrion Biopharma's revenue from plasma derivatives, including albumin, increased by 2.8% in 2021.
- Emerging markets and recombinant albumin production are significant growth opportunities.
- The COVID-19 pandemic affected plasma volumes but did not halt industry growth.
- Regulatory approvals and a strong pipeline of biologic drugs support market expansion.
FAQs
Q: What is the projected growth rate of the global albumin market from 2024 to 2029?
A: The global albumin market is expected to grow at a CAGR of 7.76% from 2024 to 2029[1].
Q: Which region holds the largest share in the global albumin market?
A: North America holds the largest share, with 37.04% of the market in 2024[1].
Q: How did the COVID-19 pandemic impact the albumin market?
A: The pandemic exacerbated the demand-supply imbalance for albumin due to reduced plasma volumes, but the industry has shown recovery and growth post-pandemic[5].
Q: What are some emerging trends in the albumin market?
A: Emerging trends include recombinant albumin production, targeting emerging markets, and the development of specialized plasma-related products[1][5].
Q: Which company recently partnered with Permira to combine with BPL, a UK-based biopharmaceuticals company?
A: Kedrion Biopharma recently partnered with Permira to combine with BPL, a UK-based biopharmaceuticals company[3].
Sources
- Mordor Intelligence - Albumin Market Size Analysis and Growth Report
- Kedrion Group - Consolidated financial statements as at 31/12/2012
- PR Newswire - Kedrion reports a 15% Ebitda on €660.4m of revenues in 2021
- Biospace - Biologics Market Size to Reach USD 699.5 Billion by 2032
- Fairfield Market Research - Albumin Market Size, Trends, Insights, Research Report 2029
