Global Recombinant Protein Market Size to Expand at a CAGR of 12.10% During 2023 and 2028
The ‘Global Recombinant Protein Market Trends, Size, Share, Price, 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.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Around USD 1.53 Billion
- Forecast CAGR (2023-2028): 12.10%
Research institutes are increasingly utilising recombinant proteins due to their various benefits, including controlled production and release, consistent product performance, improved product availability, and higher production capacity.
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One of the major factors propelling the recombinant protein market value includes the rising expenditure on research and development. Recombinant proteins find wide usage to understand protein-protein interactions in several research fields, such as biophysical studies, biochemistry, and molecular biology, among others.
Due to its efficiency in treating such disorders, recombinant protein therapies are expected to experience increased demand amid the rising prevalence of chronic diseases. With the growing incidences of cancer, the market is anticipated to further develop during the forecast period.
Recombinant Protein Industry Definition and Major Segments
Recombinant protein is a genetically modified form of protein which is formed by transfecting foreign genes into a host cell. These proteins have a wide array of applications in various fields, including medicine and agriculture, among others. They are frequently used to create pharmaceutical goods, protein-based polymers for drug administration, antibodies, and enzymes for the treatment of diseases.
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The recombinant protein market, based on product type, can be divided into:
- Growth Factor and Cytokines
- Hormone
- Enzyme
- Antibody
- Immune Checkpoint Proteins
- Recombinant Regulatory Proteins
- Others
Based on application, the market can be divided into:
- Therapeutic Use
- Research Application
- Biotechnology Industry
The major regional markets for recombinant protein include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Recombinant Protein Market Trends
The demand for antibodies is anticipated to significantly grow as they are used for diagnosis and treatment of different diseases. The rising cases of diseases such as leukaemia and growing research activities are further boosting the usage of antibodies.
North America is likely to represent a considerable share of the market in the forecast period due to rising research spending. Due to the presence of medical institutes and top-tier research universities in the United States, the market value is likely to significantly expand in the coming years.
Due to rising R&D spending in the countries of Asia Pacific, the region offers a significant opportunity for the market expansion. Over the forecast period, the rising prevalence of various chronic illnesses and the increasing attempts to develop effective drugs and vaccines by governments are expected to favour the recombinant protein market demand.
Key Market Players
The major players in the global recombinant protein market report include Abcam PLC, Thermo Fisher Scientific, Inc., Bio-Techne., Merck KGaA, Bio-Rad Laboratories, Inc., and GeneTex, Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
