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Recombinant DNA Technology Market Value Projected to Expand by 2018-2026 With Key Players Thermo Fisher Scientific, Inc., Biogen, Inc., Sanofi Pasteur, Merck & Co., Inc., Pfizer, Inc., Profacgen, Amgen, Inc., and Monsanto Company
Recombinant DNA Technology
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Bac-to-Bac Baculovirus Expression Systems offers a quick and efficient method to produce recombinant baculovirus and can express the desired genes in insect cells and provide high yields of recombinant protein that speeds up the cloning reaction as compared to the time-consuming restriction enzyme cloning, which takes 2–3 days. Also, in 2016, a BioAg Alliance was formed between Monsanto and Novozymes A/S, to improve crop harvests by using products containing naturally-occurring microbes to boost agricultural productivity and expand its product portfolio.
Increasing technological advancements facilitating the production of novel products is expected to drive growth of the market
The tremendous advancements combined with wide range of applications to treat life threatening human diseases such as cancer, diabetes and infectious diseases are expected to be the major factors augmenting the market growth. According to the Global Diabetes Community, 2017, an estimated 422 million adults are suffering from diabetes worldwide, where the number is expected to escalate to 642 million by 2040. Also, according to the World Health Organization (WHO), an estimated 1.5 million deaths were directly caused by diabetes and another 2.2 million deaths were attributable to hyperglycemia or high blood glucose levels. Advancement in recombinant technologies have facilitated the development of long-acting therapeutic proteins for drug development as well as introduced gene therapy, which is a novel molecular medicine, thus supporting the growth of recombinant DNA technology market by creating a positive impact in the treatment of genetic diseases.
Increasing R&D initiatives and rise in strategic collaborations among market players to accelerate the recombinant DNA technology market growth
The major manufacturers are involved in strategic collaborations with leading biopharmaceutical companies and research institutes for the development of novel therapeutics based on recombinant DNA technologies. Such strategic collaborations in market are expected to create conducive environment for growth of the global recombinant DNA technology market in the near future.
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.
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The research organizations are launching initiatives and providing research grants for the development of novel therapeutics, which is expected to propel growth of the recombinant DNA technology market over the forecast period.
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