Recombinant DNA Technology Market Growth Drivers And Market Key Players Pfizer Inc., Thermo Fisher Scientific Inc., Biogen Inc., Sanofi Pasteur, Merck & Co. Inc.

Global Recombinant DNA Technology Market was valued at US$ 106.8 Billion in 2017 and is projected to exhibit a CAGR of 7.9% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The recombinant DNA technology market is expected to gain significant traction, owing to the availability of a broad range of approved recombinant therapeutics, presence of novel rDNA based gene editing systems in the clinical trials, and higher number of CAR-T gene therapies in the developmental pipeline over the forecast period.

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Increasing number of approvals from regulatory agencies for novel recombinant DNA based therapies to augment market growth

Recombinant DNA technology has multidisciplinary applications which deals with important aspects of life such as health improvement and food enrichment. Various novel recombinant products have been approved by the regulatory agencies favoring the rapid launch and availability of innovative therapeutics, thus bolstering the market growth. Recombinant DNA technology has played a vital role in improving health conditions for patients diagnosed with asthma, hemophilia, and cancer by developing new vaccines and pharmaceuticals For instance, in 2015, the FDA approved Nucala (mepolizumab) made by GlaxoSmithKline Plc., a humanized interleukin-5 antagonist monoclonal antibody produced by recombinant DNA technology in Chinese hamster ovary cells, to treat severe asthma, thus providing a therapeutic boon to address the rising patient pool. According to the Centers for Disease Control and Prevention (CDC), 2013, more than 22 million people in the U.S. have asthma, and there are more than 400,000 asthma-related hospitalizations annually. Also, in 2016, CSL Behring received FDA approval for Idelvion, Coagulation Factor IX, albumin fusion protein produced by recombinant DNA technology, for use in children and adults with Hemophilia B.

Moreover, the application of this technology in the field of gene therapy has advanced the therapeutic potential targeting the life threatening diseases. For instance, in 2017, Novartis AG received FDA approval for Kymriah (tisagenlecleucel), the first chimeric antigen receptor T cell (CAR-T) therapy, indicated for the treatment of acute lymphoblastic leukemia (ALL).

Manufacturers and biotechnology institutes are undertaking research activities to explore and launch novel therapies based on the gene editing systems to treat sickle cell anemia and cancer, thus favoring the market growth.

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Key Takeaways of the Recombinant DNA Technology Market:

-The global recombinant DNA technology market is expected to exhibit a CAGR of 7.9% over the forecast period, owing to the robust presence of pipeline products, major research activities undertaken for the novel gene editing systems such as CRISPR and its higher potential in disease treatment
-Among product type, recombinant therapeutic proteins segment holds a dominant position in the recombinant DNA technology market, owing to the vast category of products available for treating various indications such as diabetes, cancer, hemophilia, and asthma
-Among application, therapeutics segment holds a dominant position in the recombinant DNA technology market, owing to rising number of genetically engineered products such as recombinant insulin, erythropoietin, and novel gene therapies to treat various human diseases
-Some of the major players operating in the global recombinant DNA technology market are Thermo Fisher Scientific, Inc., Biogen, Inc., Sanofi Pasteur, Merck & Co., Inc., Pfizer, Inc., Profacgen, Amgen, Inc., and Monsanto Company

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.