Transferrin Market Size, Share, Growth, and Industry Growth, By Type (Human Transferrin and Bovine Transferrin), By Application (Biopharmaceutical, Life Science Research, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Transferrin Market REPORT OVERVIEW

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The global transferrin market size was USD 16 million in 2022 and market is projected to touch USD 34.39 million by 2031, at a CAGR of 8.4% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with transferrin experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A blood-plasma glycoprotein is called transferrin. It is in charge of delivering ferric ions and is essential for iron metabolism in the human body. It is one of the most important ferric pool in the body. It moves iron from the spleen, liver, and bone marrow through the blood to different tissues. Iron is a vital element for psychological and metabolic pathways processes. Glycoproteins are frequently detected in the bodily fluids of vertebrates. It is a protein that has been loaded with iron bind to the receptors on the surface of cells, such as erythroid precursors in the bone marrow, and is then taken up by the cell in vesicles through a process known as receptor-mediated endocytosis.

Transferrin is a ubiquitous protein that is central in transporting iron and the metabolism process. Transports iron in the blood of the vertebrates. It has other primary roles, such as productivity and cell growth in mammals. It is also used in medicines and biotechnology. It is a polypeptide chain made up of 679 amino acids and two carbohydrate chains in humans. Two domains are formed by the beta sheets and alpha helices that make up the protein.  An iron-binding site is located between the two spherical lobes representing the N- and C- terminal sequences. Iron deficiency leads to iron deficiency anemia which cannot be cured easily. 

COVID-19 Impact: Pandemic Outbreak Increased R&D Initiatives in Pharmaceuticals

The outbreak of pandemics created an outrage among the population. The population was not allowed to step out of home in order to avoid the further spread of the pandemic. The COVID-19 outbreak affected all industries. Pharmaceuticals and the healthcare industry were an exception. During the pandemic and lockdown, the pharma companies initiated research and developments to develop advanced solutions to diseases and disorders. Thus, the pandemic had a positive impact on the healthcare and pharmaceutical industry.  

LATEST TRENDS

"Rising Need for Energy in the Human Body to Surge Growth in the Market"

The general population is steadily adopting modern food habit which mostly lacks healthy proteins and nutrients, which is an essential requirement for the human body to perform activities. Moreover, the deficiency of iron may result in various diseases as it is an indispensable and essential requirement for life. Increasing R&D surrounding the compound and its expanding scope in the potential treatment of several types of cancers, multiple sclerosis, rheumatoid arthritis, and Cardiovascular Diseases (CVDs) will augment the transferring market share during the projected timeframe. 

Transferrin Market Segmentation

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• By Type Analysis

By type, the market is segmented into human transferrin and bovine transferrin.

• By Application Analysis

Based on application, the market is classified into biopharmaceutical, life science research, and others. 

DRIVING FACTORS

"Rising Cases of Iron Deficiency Anemia to Aid Growth"

The rising population coupled with the increasing risk of transferrin in blood. The prevalence of chronic diseases such as colorectal cancer, peptic ulcer, and hernia is expected to increase the cases of anemia. The rising awareness of health among the general population is anticipated to foster growth in the market. The rapid change in the population’s lifestyle plays a significant role in developing this deficiency. Additionally, the rising expenses on healthcare is improving the infrastructure. These factors are anticipated to surge transferrin market growth.        

"Expanding Application Scope in Biopharmaceuticals to Accelerate Market Progress"

The occurrence of various chronic and life-threatening health problems has surged rapidly in recent years and continues to affect the quality of life of billions of individuals worldwide. Cancer, for instance, is one of the leading causes of death across the world, reports WHO. Due to these factors, research & development surrounding biopharmaceuticals is gaining monumental traction. Leading biotech and biopharma firms globally are upping their R&D investments to introduce novel solutions in the market. The aforementioned factors are expected to create robust opportunities for the application of blood-plasma, which holds tremendous potential as an active biopharmaceutical ingredient. 

RESTRAINING FACTORS

"Lack of Monitoring Supplements to Hinder Growth"

The lack of transferrin in the blood leads to iron deficiency in the human body. The deficiency of iron is also called iron deficiency anemia. The low availability of supplementation of iron and limited iron deficiency monitoring equipment is anticipated to hamper the transferrin market growth. Moreover, adequate supplement dosing coupled with frequent clinic visits is also expected to restrict the market growth.  

Transferrin Market REGIONAL INSIGHTS

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"North America to Lead Owing to Increased Research and Development Activities"

North America is likely to dominate the global market owing to the steady development of clinical infrastructure and increased research and development activities in the region. The region’s growth is also attributable to the presence of patients with iron-deficiency anemia. America is expected to hold a transferrin market share of 51.68% in the total regional growth.  

Europe is anticipated to show significant growth due to the presence of funds and resources, which is anticipated to help the region in holding up to 30.35% of the total market. 

Asia Pacific is projected to witness sizeable growth owing to the presence of various growth opportunities in the region. The developing economies present in the region is likely to surge growth in the regional market.  

KEY INDUSTRY PLAYERS

"Key Companies to Focus On Long-Term Growth Strategies"

The presence of various key companies in the global market is developing a healthy competitive environment. Key companies are focused on the development of the product by installing interactive features to gain a competitive advantage in the global market. Moreover, major industry players are adopting organic and inorganic strategies to grow in the market. Furthermore, companies are emphasizing on upgrading their portfolio by launching technologically advanced products. Major players are also focusing on the development of strategic alliances to gain growth in the market. 

List of Market Players Profiled

• Thermo Fisher Scientific (U.S.)
• Merck (U.S.)
• BBI Solutions (U.K.)
• MP Biomedicals (U.S.)
• ProSpec (Israel)
• Yeasen Biotech (China)
• PromoCell (U.S.)
• Corning (U.S.)
• InVitria (U.S.)
• Biotium (U.S.)
• Cusabio (U.S.)
• Advanced BioMatrix (U.S.)

INDUSTRY DEVELOPMENT

• January 2020- For the treatment of people with iron deficiency anemia who had an intolerance to or inadequate response to oral iron or who had nonhemodialysis-dependent chronic renal disease, the U.S. FDA approved the ferric derisomaltose injection of PHARMACOSMOS A/S.

REPORT COVERAGE

The report emphasizes on study and analysis of the global market on the basis of its segment, regions, and key competitors. The report constitutes of major factors responsible for the development of the market and surges the market growth. The report focuses on the key players and their headquarters. Regional analysis is also presented in the report to explain the contribution of various regions in the growth of the market. It constitutes market trends and restraints to understand the market appropriately. This report is an overall insight into the market.