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Jan 23, 2024

Recombinant proteins market size to grow by USD 650.96 million from 2022 to 2027, 35% of market growth to originate from North America

News provided by 31 May, 2023, 08:15 ET Share this article NEW YORK, May 31,

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31 May, 2023, 08:15 ET

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NEW YORK, May 31, 2023 /PRNewswire/ -- The recombinant proteins market size is expected to grow by USD 650.96 million from 2022 to 2027 at a CAGR of 9.46%, as per the latest Technavio market research report. North America is expected to account for 35% of the market's growth during the forecast period. This growth is attributed to factors such as the high uptake of recombinant proteins. The increasing prevalence of cancer, autoimmune diseases, metabolic diseases, musculoskeletal diseases, central nervous system diseases, and hematological diseases are also contributing to market growth. In addition, Factors such as rising R&D spending, increasing research activity, favorable government funding, and the presence of key players are boosting the market expansion in the region during the forecast period. For more insights on the market share of various regions - Download sample report in MINUTES

Recombinant proteins market: Increase in chronic diseases to drive growth

Chronic diseases such as cancer, cardiovascular, endocrine, and viral diseases can be treated with recombinant proteins. Therefore, the rising prevalence of such diseases is expected to boost the demand for recombinant proteins during the forecast period. For instance, according to the World Health Organization, cancer is the second leading cause of death worldwide. The prevalence of cardiovascular diseases and cancer is increasing worldwide. Similarly, the rising prevalence of other chronic diseases, such as cardiovascular diseases and neurological disorders, will increase the demand for recombinant proteins during the forecast period.

Recombinant Proteins Market: Growing opportunities from emerging economies

Emerging economies in Asia offer high growth potential for market participants. Factors such as aging population, rising income levels, improved healthcare infrastructure, increasing healthcare costs, and low-cost manufacturing are encouraging market participants to invest in the region. The regulatory framework in Asia is more flexible and business-friendly and attracts larger companies that are facing stiff competition in established markets. Governments of emerging countries in Asia are taking steps to raise awareness about cancer to enable early diagnosis. Such policies are expected to boost the growth of the market during the forecast period.

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Some of the key recombinant proteins market players:

The recombinant proteins market is fragmented , and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the key players in the market are listed below:

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Recombinant proteins market: Segmentation analysis

This market research report segments the recombinant proteins market by application (biotechnology research, drug discovery and development, biopharmaceutical production, and others), end-user (pharma and biotechnology companies, academic and research institutes, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

The biotechnology research segment will account for a significant share of market growth during the forecast period. Recombinant proteins have contributed to major advances in biomedical biotechnology. These include proteins generated in course-specific research projects as well as commercially available proteins. Recombinant proteins are also used in food production, agriculture, and biotechnology. In addition, researchers have used genetic techniques to modify proteins to create recombinant therapeutic proteins. Such factors will drive the growth of the segment during the forecast period.

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Some of the key topics covered in the report include:

Market drivers

Market challenges

Market trends

Vendor landscape

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Recombinant Proteins Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.46%

Market growth 2023-2027

USD 650.96 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.0

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 35%

Key countries

US, Germany, Italy, China, and Japan

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

Abcam plc, Airway Therapeutics Inc., Amgen Inc., Aviva Systems Biology Corp., Bio Techne Corp., Bio Rad Laboratories Inc., BPS Bioscience Inc., Elabscience Biotechnology Inc., Enzo Biochem Inc., GenScript Biotech Corp., Grifols SA, Merck KGaA, Novartis AG, Novo Nordisk AS, OriGene Technologies Inc., Prospec Tany Technogene Ltd., Proteintech Group Inc., Sanofi SA, Sino Biological Inc., and Thermo Fisher Scientific Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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