The global Recombinant Protein Market is estimated to be valued at US$ 3131.37 Mn or Bn 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 have applications in pharmaceutical, diagnostic and research fields due to ease of production and standardization of size and purity. They have therapeutic applications in treatment of various diseases like cancer, diabetes, etc.
Market key trends:
One of the key trends in the recombinant protein market is the rising demand for recombinant therapeutic proteins. Due to advancements in gene cloning and molecular biology techniques, it is now possible to produce medically important human proteins like insulin, growth hormones, clotting factors etc in microbial systems like bacteria and yeast cells to treat chronic diseases. This is driving significant growth in the therapeutic recombinant protein segment. Other key trends include increasing R&D investment for development of novel recombinant proteins and rising government funding for research.
Market key trends:
One of the key trends in the recombinant protein market is the growing application of recombinant proteins in pharmaceutical and biotechnology industries. Recombinant proteins find wide usage in drug discovery, development, and production. They are utilized as biotherapeutics, biomarkers, and other diagnostic applications. The increasing R&D activities in pharmaceuticals aimed at developing novel biologics such as vaccines, antibodies, and enzyme replacement therapies are fueling demand for recombinant proteins.
SWOT Analysis
Strengths: Wide applications in biotechnology and pharmaceutical research & development. Recombinant proteins offer consistency and unlimited supply.
Weaknesses: High production cost. Requires specialized production equipment and techniques.
Opportunities: Growing biologics market. Increasing research in personalized medicine and chronic disease therapies.
Threats: Stringent regulatory environment. Threat from alternative technologies such as gene and cell therapies.
Key Takeaways
The global Recombinant Protein Market Share size is expected to reach by 2030, expanding at a CAGR of 11% during the forecast period. The market is primarily driven by the increasing development and production of biotherapeutics, vaccines, and diagnostics.
Regional analysis: North America dominates the global market currently in terms of revenue. This is attributed to well-established biotechnology industry, growing R&D investments in pharmaceuticals, and rising demand for biologics in the region. Asia Pacific exhibits fastest growth over the forecast period with countries such as China and India emerging as major markets.
Key players operating in the recombinant protein market include 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.
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