Recombinant Protein Market to Grow with a CAGR of 7.34% through 2028
Rising inclination towards biologics and
biosimilars are expected to drive the Global Recombinant Protein Market growth
in the forecast period, 2024-2028.
According to
TechSci Research report, “Recombinant Protein Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Recombinant Protein Market stood at USD 2.19 Billion in 2022 and is
anticipated to grow with a CAGR of 7.34% through 2028. Industry growth is
expected to be propelled by the increasing occurrence of chronic ailments like
hemophilia, granulomatous disease, and sclerosis. Additionally, the growing
inclination towards biologics, as well as advancements in recombinant protein
products, is other factors driving growth. In
addition to the efforts made to build recombinant protein-based vaccinations,
numerous players are putting up a great effort to develop medicines via rapid
cycles of innovation to bring advances to patients more swiftly. The popularity
of biopharmaceuticals has also been influenced by the need for safe, effective,
and efficient medications. To revolutionize
treatment efforts, many regions have created biobanks through cohort programs,
which give researchers access to high-quality samples. This has raised interest
in finding biomarkers for various disorders. For instance, the FDA authorized Ayvakit
in August 2022 to treat advanced systemic mastocytosis, a rare blood disorder,
which is anticipated to have a beneficial effect on the growth of the market in
the years to come.
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"Global Recombinant Protein Market”
The Global Recombinant
Protein Market is segmented into Products, Application,
and region.
Based on the
Product, the antibody segment is anticipated to witness substantial market
growth throughout the forecast period. The exponential growth of the global
recombinant protein market is notably steered by the burgeoning demand for
antibody products. Antibodies, with their pivotal role in targeted therapies
and diagnostics, stand at the forefront of biopharmaceutical innovation. The
increasing prevalence of chronic diseases, including cancer and autoimmune
disorders, underscores the need for precise and efficacious treatments,
propelling the demand for recombinant antibody-based therapeutics. The
versatility of recombinant antibody technology allows for the engineering of
monoclonal antibodies with enhanced specificity and reduced immunogenicity, addressing
limitations associated with traditional therapeutic approaches. The development
of novel antibodies for emerging infectious diseases and the expansion of
personalized medicine further amplify the market's growth trajectory. Moreover,
strategic collaborations and partnerships within the biopharmaceutical industry
contribute to a robust pipeline of antibody products. These collaborations
foster innovation, accelerate research and development efforts, and drive
commercialization.
Based on the
Application segment, the Therapeutic Use segment has been the dominant force in
the market. The growth of the global recombinant protein market is strongly
propelled by the expanding therapeutic applications of these
biopharmaceuticals. Recombinant proteins serve as crucial components in the
development of therapeutic interventions for a diverse range of medical
conditions. From treating chronic diseases such as diabetes and cancer to
addressing rare genetic disorders and autoimmune conditions, the therapeutic
versatility of recombinant proteins positions them at the forefront of modern
medicine. The trend towards personalized medicine further accentuates the
significance of recombinant proteins, allowing for the customization of
therapeutic solutions tailored to individual patient profiles. As advancements
in biotechnology continue to unravel novel therapeutic targets, the demand for
recombinant proteins is set to grow. Furthermore, the ongoing research and
development efforts aimed at expanding the therapeutic repertoire of
recombinant proteins, coupled with the regulatory support for these innovative
treatments, create a conducive environment for market growth.
Major companies
operating in Global Recombinant Protein Market are:
- Abbvie Inc.
- Amgen Inc.
- Bio-Rad Laboratories Inc.
- Eli Lilly and Company
- Merck KGaA
- Novo Nordisk AS
- Sanofi SA
- Thermo Fisher Scientific Inc.
- Novartis AG
- GlaxoSmithKline PLC
- Novavax Inc.
- Pfizer Inc.
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“The rising
prevalence of chronic diseases, such as granulomatous disease, hemophilia, and
sclerosis, is anticipated to drive industry growth. Furthermore, the rising
preference for biologics as well as biosimilars, and enhanced recombinant
protein products are some other factors contributing to the industry growth. In addition to the actions taken to develop
recombinant protein-based vaccines, intense efforts are being taken by multiple
players for therapeutics via accelerated cycles of innovation to bring
breakthroughs to patients faster. Furthermore, the demand for effective,
efficient, and safe drugs enhanced the popularity of biopharmaceuticals. Key players are investing in their R&D programs to
increase research productivity and grow their offerings for revenue generation.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Recombinant
Protein Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Product (Hormone, Growth Factor, Antibody,
Enzyme, Other), By Application (Research Application, Therapeutic Use,
Biotechnology Industry), By Region, By Competition”, has evaluated
the future growth potential of Global Recombinant Protein Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Recombinant Protein Market.
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