Global Recombinant DNA Technology Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s recombinant DNA technology market report forecasts the recombinant DNA technology market size to grow to $1.06 trillion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
Learn More On The Recombinant DNA Technology Market Report 2023 – https://www.thebusinessresearchcompany.com/report/recombinant-dna-technology-global-market-report
Recombinant DNA Technology Market Size Forecast
The global recombinant DNA technology market is expected to grow from $754.97 billion in 2022 to $811.89 billion in 2023 at a compound annual growth rate (CAGR) of 7.54%. 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 DNA technology market size is expected to reach $1.06 trillion in 2027 at a CAGR of 7.13%.
North America held the largest recombinant DNA technology market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Recombinant DNA Technology Market Driver – Increase In Number Of Chronic Diseases
For instance, in April 2021, according to a report shared by WHO, a Switzerland-based specialized agency of the United Nations responsible for international public health, noncommunicable diseases (NCDs) accounted for 41 million annual deaths, or 71% of all deaths worldwide. Between the ages of 30 and 69, more than 15 million people per year die from an NCD; 85% of these premature deaths take place in low- and middle-income nations. Therefore, the increase in chronic diseases is driving the recombinant DNA technology market.
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Key Recombinant DNA Technology Market Trend – Technological Advancement
Major companies operating in the recombinant DNA technology market are focused on innovative technologies to sustain their position in the market. For instance, in October 2021, Thermo Fisher Scientific, a US-based supplier of scientific instrumentation, reagents and consumables, and software services, introduced the Applied Biosystem QuantStudio Absolute Q-Digital PCR System, the first fully integrated digital PCR (dPCR) equipment made to deliver extremely precise and reliable findings in genetic analysis and research in less than 90 minutes. The QuantStudio Absolute Q System uses microfluidic array technology and streamlined processes instead of the complicated, multi-instrument workflows necessary for standard dPCR, which is intended to increase data accuracy and consistency. The QuantStudio Absolute Q solution is a quick and easy workflow that provides high-quality data with the least amount of manual labour. It combines the data collection, heat cycling, and digitization processes required for dPCR into a single device.
Recombinant DNA Technology Market Segment
1) By Product Type: Recombinant Protein Drugs, Vaccines, Genetically Modified Crops, Expression Systems, Cell and Gene Therapy, Gene Editing
2) By Component Type: Expression System, Cloning Vector
3) By Application Type: Food And Agriculture, Health And Disease, Environment, Other Application Types
4) By End-Use Type: Biotechnology And Pharmaceutical Companies, Academic And Government Research Institutes, Other End-Use Types
Recombinant DNA Technology Market Major Players and Strategies
Major players in the recombinant DNA technology market are Profacgen, Amgen Inc., Novartis AG, GenScript, Pfizer Inc., Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Merck & Co. Inc., Biogen, GlaxoSmithKline PLC., New England Biolabs, Monsanto Company, Thermo Fisher Scientific, Inc., and F. Hoffmann-La Roche Ltd.
In January 2022, Thermo Fisher Scientific, a US-based scientific instrumentation supplier, reagents, consumables, and software services, acquired PeproTech for $1.85 billion. The acquisition complements Thermo Fisher’s cell culture media products with PeproTech’s recombinant proteins portfolio, which is expected to allow Thermo Fisher to give customers significant advantages through an integrated offering. PeproTech, Inc. is a US-based developer and manufacturer of bioscience reagents known as recombinant proteins.
The Recombinant DNA Technology Global Market Report 2023 covers regional data on recombinant DNA technology market size, recombinant DNA technology market trends and drivers, opportunities, strategies, and recombinant DNA technology market competitor analysis. The countries covered in the recombinant DNA technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Recombinant DNA technology refers to fusing DNA molecules from other organisms and inserting those DNA molecules into a host organism to build a new genetic combinations useful for science, medicine, agriculture, and industry. The recombinant DNA technology is used to address health issues by creating new medications and vaccines.
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