Global Recombinant Proteins 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 proteins market report forecasts the recombinant proteins market size to grow to $3.35 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.
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Recombinant Proteins Market Size Forecast
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 global recombinant proteins market size is expected to reach $3.35 billion in 2027 at a CAGR of 12.10%.
North America held the largest recombinant proteins market share.
Key Recombinant Proteins Market Driver – Rise In Number Of Regulatory Approvals
For example, according to the Centre for Drug Evaluation and Research (CDER), a non-profit organisation based in the United States, 38 (76%) of the 50 drugs authorised by CDER in 2021 obtained their first U.S. approval in January 2022. In comparison to 21 of 53 first-in-class pharmaceuticals (39.5%) approved in 2020, first-in-class drugs made up 27 of 50 (54%) approved in 2021, according to the agency. According to the FDA, 20 medications were authorised (42%), 19 were approved (32%), and 15 were approved (33%). As a result, the increasing number of regulatory approvals is propelling the recombinant protein market ahead.
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Key Recombinant Proteins Market Trend – Product Innovation
Major players in the recombinant protein market are focusing on producing innovative products to increase their market position. Teva and Celltrion Healthcare, a US-based drug manufacturer, for example, launched TRUXIMA in May 2020, 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 potential of this medicine to treat numerous conditions such as Non-Hodgkin’s Lymphoma (NHL), Chronic Lymphocytic Leukaemia (CLL), Rheumatoid Arthritis (RA), Granulomatosis with Polyangiitis (GPA), and Microscopic Polyangiitis (MPA) is its distinguishing feature.
Recombinant Proteins Market Segment
1) By Product: Antibodies, Cytokines, Immune Checkpoint Protein, Virus Antigens, Enzymes, Recombinant Regulatory Proteins, Hormones, Other Products
2) By Application: Drug And Discovery Development, Therapeutics, Research, Other Applications
3) By End Users: Pharmaceutical And Biotechnology Companies, Academic And Research Institute, Diagnostic Laboratories, Other End Users
Recombinant Proteins Market Major Players and Strategies
Major players in the recombinant proteins market are Abcam plc, Abnova Corporation, Bio-Rad Laboratories Inc., Merck KGaA, R&D Systems Inc., Proteintech Group Inc., RayBiotech Life Inc., GenScript Biotech Corporation, Elpiscience Biopharmaceuticals Co. Ltd., Elevian Inc., Gigagen Inc., Janssen- Cilag Pvt. Ltd., Abnova Corporation, Sino Biological Inc., OriGene Technologies Inc., Feldan Therapeutics Inc., Randox Laboratories Ltd., Plant Biotechnology Inc. and Infinite Enzymes Inc.
Thermo Fisher Scientific Inc., a US-based producer of scientific apparatus, reagents, and consumables, bought PeproTech, Inc. for an undisclosed sum in December 2021. Thermo Fisher Scientific Inc. expands its capabilities for providing high-growth cells and gene therapy with this acquisition. PeproTech’s recombinant protein portfolio will benefit Thermo Fisher’s cell culture medium solutions, allowing Thermo Fisher to give significant benefits to clients through an integrated offering. PeproTech Inc. is an American recombinant protein manufacturer that develops and manufactures recombinant cytokine products for life science research.
The Recombinant Proteins Global Market Report 2023 covers regional data on recombinant proteins market size, recombinant proteins market trends and drivers, opportunities, strategies, and recombinant proteins market competitor analysis. The countries covered in the recombinant proteins 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 proteins are modified or edited proteins encoded by recombinant DNA, which is composed of a plasmid in which the gene of a target protein of interest is cloned downstream of a promoter region. They are utilised in the production of pharmaceuticals, protein-based polymers for drug administration, antibodies and enzymes for disease therapy, protein scaffolds for tissue engineering, and a number of other products.
View More Reports Related To The Recombinant Proteins Market –
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Recombinant DNA Technology Global Market Report 2023
Therapeutic Proteins Global Market Report 2023
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