Global Recombinant Protein Market Size To Grow At A CAGR Of 12.10% In The Forecast Period Of 2023-2028
The ‘Global Recombinant Protein Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global recombinant protein market, assessing the market based on its segments like product types, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Recombinant Protein Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Nearly USD 1.53 Billion
• Forecast CAGR (2023-2028): 12.10%
Recombinant proteins are extracted from a recombinant DNA model that utilise molecular biology methodologies. The essential recombinant DNA is produced with the help of an artificial blend of genetic material from distinct sources, which do not appear in natural surroundings.
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Factors like rising investments in research and development (R&D) activities, the increasing prevalence of prolonged diseases, the surging elderly population, the growing tendency towards biologics and biosimilars, and the introduction of developed recombinant items are driving the global recombinant protein market.
The increasing number of cancer cases is boosting the requirement for recombinant protein therapies. Hence, advancements in cancer treatment are likely to favour the global recombinant protein market.
The growing spending on research activities focused on developing improved treatment options is anticipated to boost the requirement for recombinant protein. Furthermore, favourable initiatives by several market players aimed at developing new drugs are expected to drive the market. Moreover, the growing demand for valuable and reliable medicines and the increasing acceptance of biopharmaceuticals are expected to boost the demand for recombinant protein in the coming years.
Recombinant Protein Industry Definition and Major Segments
Recombinant proteins can be defined as proteins coded by recombinant DNA which is replicated in an appearance transmitter that helps in representation of the gene and interpretation of courier RNA. Alteration of the gene by recombinant DNA technology may result in the extraction of a modified protein. Recombinant protein is a controlled and indigenous protein that is produced in several ways to expand the creation of proteins, alter gene structures, and produce beneficial commercial commodities
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Based on product types, the global recombinant protein market can be segmented into:
• Growth Factor and Cytokines
• Immune Checkpoint Proteins
• Recombinant Regulatory Proteins
Based on applications, the market is classified into:
• Therapeutic Use
• Research Application
• Biotechnology Industry
The major regional markets of recombinant protein include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Recombinant Protein Market Trends
Generating protein via recombinant DNA technology offers few considerable benefits, including reduced hazards of resistant response and elevated protein activity. The development of the global recombinant protein market is anticipated to be aided by the rising demand for efficient medications for enhanced treatment of patients. Besides, advancements in medical technology are estimated to boost the development of recombinant protein-based vaccines.
In conjunction with the increasing demand for efficient medicines for various chronic and acute diseases, leading market players and government organisations are funding the progress of novel medicines, which is likely to drive the growth of the global recombinant protein market in the upcoming years.
The growing occurrence of recurring or chronic ailments is expected to expand the demand for recombinant protein owing to their efficacy in treating various diseases. Rising partnerships between key players and research institutions are anticipated to support the progress of the recombinant protein market.
Geographically, North America is anticipated to account for the largest market share due to the increasing number of patients with chronic ailments like cancer, diabetes, cardiovascular diseases, and respiratory diseases, among others. The regional market is expected to grow further with the rising financing in research and development (R&D) activities by leading market players and government organisations.
Key Market Players
The major players in the global recombinant protein market are:
• Abcam PLC
• Thermo Fisher Scientific, Inc.
• Merck KGaA
• Bio-Rad Laboratories, Inc.
• GeneTex, Inc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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