The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Recombinant DNA Technology Global Market Report 2024, the recombinant DNA technology market is expected to show significant growth in the forecast period.

The recombinant DNA technology market has witnessed robust growth in recent years and is poised for further expansion. Key factors driving this surge include healthcare demands, the growth of the biopharmaceutical industry, increased investments in research and development (R&D), and the emergence of personalized medicine. In this blog, we delve into the market’s current status, forecasted growth, and the influential trends shaping its trajectory.

Market Expansion from 2023 to 2024

The market size is set to soar from $816.9 billion in 2023 to $882.04 billion in 2024, boasting a compound annual growth rate (CAGR) of 8.0%. This robust growth is attributed to various factors, including the rising prevalence of chronic diseases and the proliferation of biotech startups. Let’s explore the driving forces behind this surge.

Rising Prevalence Of Chronic Diseases To Drive Market Growth

The escalating number of chronic diseases is a primary catalyst for the recombinant DNA technology market’s growth. Chronic diseases, persisting for a year or longer, have witnessed a surge, demanding continuous medical care. Recombinant DNA technology plays a pivotal role by improving healthcare through the creation of biopharmaceutical proteins used in pharmaceuticals and facilitating gene therapy. Notably, noncommunicable diseases (NCDs) accounted for 71% of global deaths, emphasizing the critical role of advanced technologies in addressing these health challenges.

• Recombinant DNA technology addresses chronic diseases by creating biopharmaceuticals and gene therapies.
• WHO reports highlight the significant global impact of noncommunicable diseases.

Key Market Players

Major players driving the recombinant DNA technology market include Profacgen BioTech Corp., Amgen Inc., Novartis International AG, GenScript Biotech Corporation, Pfizer Inc., and more. These industry giants contribute to market growth by leveraging their expertise and resources.

View More On The Recombinant DNA Technology Market Report 2024 – https://www.thebusinessresearchcompany.com/report/recombinant-dna-technology-global-market-report

Technological Advancements Driving Innovation In Recombinant DNA Technology Market

Technological advancements stand out as a prominent trend shaping the recombinant DNA technology market. Industry leaders are investing in cutting-edge technologies to maintain a competitive edge. For example, Thermo Fisher Scientific’s introduction of the Applied Biosystem QuantStudio Absolute Q-Digital PCR System exemplifies the commitment to innovation. This system streamlines genetic analysis, delivering precise and reliable results in under 90 minutes. Additionally, Thermo Fisher’s strategic acquisition of PeproTech in January 2022 fortifies its position by integrating PeproTech’s recombinant proteins portfolio into its offerings.

• Technological advancements, such as Thermo Fisher’s QuantStudio Absolute Q System, enhance precision in genetic analysis.
• Strategic acquisitions, like Thermo Fisher’s acquisition of PeproTech, strengthen companies’ capabilities and market presence.

Market Segmentation

The recombinant DNA technology market is segmented based on various criteria, providing a nuanced understanding of its dynamics. Key segments include product type, component type, application type, and end-use type. These segments offer insights into the diverse applications and industries driving the market.

1. Product Type:
   • Recombinant Protein Drugs
   • Vaccines
   • Genetically Modified Crops
   • Expression Systems
   • Cell and Gene Therapy
   • Gene Editing
2. Component Type:
   • Expression System
   • Cloning Vector
3. Application Type:
   • Food And Agriculture
   • Health And Disease
   • Environment
   • Other Application Types
4. End-Use Type:
   • Biotechnology And Pharmaceutical Companies
   • Academic And Government Research Institutes
   • Other End-Use Types

Regional Insights

In 2023, North America led the recombinant DNA technology market, while the Asia-Pacific region is anticipated to be the fastest-growing region in the forecast period. This shift reflects the global nature of the biotech industry and its expanding footprint across diverse geographical regions.

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