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Jan 22, 2024

Recombinant Proteins Global Market Report 2023

Major players in the recombinant proteins market are Abcam plc, Abnova

Major players in the recombinant proteins market are Abcam plc, Abnova Corporation, Bio-Rad Laboratoroies Inc., Merck KGaA, R&D Systems Inc., Proteintech Group Inc., RayBiotech Life Inc., GenScript Biotech Corporation, Elpiscience Biopharmaceuticals Co.

New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Recombinant Proteins Global Market Report 2023" - https://www.reportlinker.com/p06466483/?utm_source=GNW Ltd., Elevian Inc., Gigagen Inc., Janssen- Cilag Pvt. Ltd., Abnova Corporation, Sino Biological Inc., OriGene Technologies Inc., Feldan Therapeutics Inc., Randox Laborateries Ltd., Plant Biotechnology Inc. and Infinite Enzymes Inc.The global recombinant proteins market is expected to grow from $1.91 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 11.29%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The recombinant proteins market is expected to reach $3.35 billion in 2027 at a CAGR of 12.10%.The recombinant protein market consists of sales of recombinant monoclonal antibodies, interferons, and interleukins.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Recombinant proteins refer to modified or edited proteins encoded by recombinant DNA, made up of a plasmid in which the gene of an interest target protein is cloned downstream of a promoter region. They are used to make pharmaceuticals, protein-based polymers for drug delivery, antibodies and enzymes for disease treatment, protein scaffolds for tissue engineering, and a variety of other things.North America was the largest region in the recombinant protein market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of recombinant protein products are antibodies, cytokines, immune checkpoint proteins, virus antigens, enzymes, recombinant regulatory proteins, hormones, and others.Antibodies refer to a protein immune system component that travels through the blood, detects foreign objects like bacteria and viruses, and destroys them.They are used in various applications such as drug and discovery development, therapeutics, research, and others. It is used mostly by pharmaceutical and biotechnology companies, academic and research institutes, diagnostic laboratories, and others.A rising number of regulatory approvals is expected to propel the growth of the recombinant protein market going forward.Regulatory approvals refer to any government or health authority authorization for any research involving human subjects.A rising number of regulatory approvals for recombinant proteins is mandatory for all drugs, which includes the treatment of diabetes, and severe chronic diseases like cancer, cardiovascular diseases, endocrine diseases, and viral diseases. For instance, in January 2022, according to the Centre for Drug Evaluation and Research (CDER), a US-based non-profit organization, 38 (76%) of the 50 medications CDER authorized in 2021 received their first U.S. approval. In comparison to 21 of 53 first-in-class pharmaceuticals (39.5%) in 2020, first-in-class drugs made up 27 of the 50 drugs (54%) approved in 2021, the agency observed. The FDA previously reported that 20 drugs were approved (42%), 19 were approved (32%), and 15 were approved (33%). Therefore, the rising number of regulatory approvals is driving the growth of the recombinant protein market going forward.Product innovation is the key trend gaining popularity in the recombinant protein market.Major companies operating in the recombinant protein market are focused on developing innovative products to strengthen their position in the market.For instance, in May 2020, Teva and Celltrion Healthcare, a US-based manufacturer of drugs, launched an injection called TRUXIMA, which is a biosimilar to the reference medicine Rituxan®1 (rituximab) on the market for the treatment of rheumatoid arthritis, with a boxed warning for fatal infusion-related complications, severe mucocutaneous reactions, hepatitis B virus reactivation, and progressive multifocal leukoencephalopathy. The unique feature about this product is its ability to treat various disorders such as Non-Hodgkin's Lymphoma (NHL), Chronic Lymphocytic Leukemia (CLL), Rheumatoid Arthritis (RA), Granulomatosis with Polyangiitis (GPA), and Microscopic Polyangiitis (MPA).In December 2021, Thermo Fisher Scientific Inc., a US-based supplier of scientific instrumentation, reagents, and consumables, acquired PeproTech, Inc. for an undisclosed amount. Through this acquisition, Thermo Fisher Scientific Inc. increases its capabilities for serving high-growth cells and gene therapy. Thermo Fisher's cell culture media products will benefit from PeproTech's recombinant protein portfolio, allowing Thermo Fisher to provide clients with considerable benefits through an integrated offering. PeproTech Inc. is a recombinant protein producer situated in the United States that develops and manufactures recombinant cytokine products for life science research.The countries covered in the recombinant protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The recombinant proteins market research report is one of a series of new reports that provides recombinant proteins market statistics, including recombinant proteins industry global market size, regional shares, competitors with a recombinant proteins market share, detailed recombinant proteins market segments, market trends and opportunities, and any further data you may need to thrive in the recombinant proteins industry. This recombinant proteins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06466483/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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