The global Recombinant Protein Market is estimated to be valued at US$ 3,131.37 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Recombinant proteins are proteins produced through recombinant DNA technology by transferring genetic material from one cell into another. Recombinant proteins have various applications in research, commercial, and therapeutic purposes due to their stability and ability to mimic natural proteins.
Market key trends:
One of the major trends that is expected to gain traction in the recombinant protein market is the increased adoption of recombinant proteins due to the growing biopharmaceutical industry. Recombinant protein therapeutics are increasingly being used for treatment of various diseases like cancer, infectious diseases, hematological disorders, and others. Further, technological advancements in gene cloning and protein expression systems have enabled mass production of recombinant proteins, thereby increasing their applications. Advancements like inclusion body isolation and protein refolding have helped alleviate concerns regarding proper folding of recombinant proteins.
SWOT Analysis
Strength: Recombinant protein technology allows for large scale production of proteins with high purity and consistency. Recombinant protein drugs can be manufactured easily and cost-effectively compared to traditional methods.
Weakness: High upfront investment required for establishing protein production facilities. Production process for complex proteins remains challenging. FDA approval process for new recombinant proteins is lengthy and costly.
Opportunity: Growing research in disease biology is identifying new protein drug targets. Rising demand for biosimilars and biologics offer significant market potential. Developing countries provide large untapped markets for affordable recombinant protein drugs.
Threats: Stringent regulations associated with production and development of biologics. Increased competition from established players and biosimilars may squeeze profit margins. Trade barriers and geo-political issues pose risks to global supply chain.
Key Takeaways
The global recombinant protein market demand is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing R&D investment in drug development and growing demand for low-cost protein therapeutics.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its lead during the forecast period. Asia Pacific is anticipated to be the fastest growing market owing to rising biotechnology research in major economies like China and India.
Key players operating in the recombinant protein market are Merck KGaA, OriGene Technologies, Inc., Thermo Fisher Scientific Inc., Feldan Therapeutics, ACROBiosystems, Abcam plc., Randox Laboratories Ltd., SOL GROUP, Proteintech Group, Inc, Planet Biotechnology, Inc., INFINITE ENZYMES, INC., ORF Genetics, GenScript, BTL Biotechno Labs Pvt Ltd., Prospec-Tany Technogene Ltd., BPS Bioscience, Inc., Sino Biological, Cape Bio Pharms, Abnova Corporation, GeNext Genomics
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
