Recombinant Proteins Market Global Reach, Key Players, Demands, Growth Rate, Application and Forecasts to 2027

The global recombinant proteins market is projected to reach USD 2.4 billion by 2027 from USD 1.4 billion in 2022, at a CAGR of 11.4% during the forecast period. The market growth is primarily driven by factors such as increasing government investments and R&D expenditure in pharmaceutical & biotechnology companies and academic research institutes alongside the high prevalence of chronic and infectious diseases resulting in the need for recombinant proteins for crucial diagnostics. However, flocking to the market with competitively priced products and labour-intensive processes with low yields of recombinant protein may restrict market growth to a certain extent.

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"The pharmaceutical & biopharmaceutical companies' segment is expected to dominate the market during the forecast period."
Based on end users, the recombinant proteins market is segmented into pharmaceutical & biopharmaceutical companies, biotechnology companies, academic research institutes, contract research organizations, and other end users. Pharmaceutical & biopharmaceutical companies accounted for the largest share of the end user market in 2020. The large share of this segment is attributed to the role of recombinant proteins as a crucial component of most small molecule drug discovery programs, as well as the requirement of recombinant protein in drug discovery for the screening of the structural and mechanistic studies of new drug applications. Also, factors such as the patent expiration of blockbuster drugs impact the market growth positively.

"Vaccine segment will witness the second highest growth in the recombinant proteins market during the forecast period."
Based on type, the drug discovery & development market is segmented into biologics, vaccines, and cell & gene therapy. Vaccine accounted for the second largest share of the drug discovery & development application for the recombinant proteins market and is expected to register the second highest CAGR during the forecast period. The large share of the vaccine segment is attributed to the factors such increased incidence of diseases such as influenza, viral diseases and hepatitis. The emergence of such diseases has led to increased R&D activities to discover proactive vaccine and this is fueling the market growth for recombinant protein.

"North America will dominate the market during the forecast period."
Geographically, the recombinant proteins market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the recombinant proteins market. The large share of this region in the global market is attributed to the rising prevalence of infectious diseases and chronic conditions, growing R&D spending by the government and pharmaceutical industry, increasing research activities by biotechnology firms, and the presence of key market players.

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The primary interviews conducted for this report can be categorized as follows:
• By Company Type -Tier 1: 36%, Tier 2: 45%, and Tier 3: 19%
• By Designation - C-level:33%, D-level:40%, and Others:27%
• By Region - North America:36%, Europe:28%, Asia Pacific:19%, Latin America: 10%, and Middle East and Africa 7%.

List of Companies Profiled in the Report
• Thermo Fisher Scientific Inc. (US)
• Miltenyi Biotech (Germany)
• Sino Biological Inc. (China)
• Merck KGaA (Germany)
• Abcam plc (UK)
• Biolegend (US)
• Bio-Rad Laboratories, Inc. (US)
• GenScript Biotech Corporation (China)
• Enzo Life Sciences, Inc. (US)
• BPS Bioscience, Inc. (US)
• Proteintech Group, Inc. (US)
• Abnova Corporation (Taiwan)
• R&D Systems (US)
• STEMCELL Technologies Inc (Canada)
• RayBiotech Inc (US)
• CellGenix GmbH (Germany)
• ACROBiosystems (US)
• ProSpec-TechnoGene Ltd. (Israel)
• Neuromics (US)
• Lauraus Bio (India)
• Icosagen AS (US)
• ProteoGenix (France)
• United States Biological (US)
• StressMarq BiosciencesInc (Canada)
• Aviva Systems Biology Corporation (US)

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Research Coverage:
This report provides a detailed picture of the global recombinant proteins market. It aims at estimating the size and future growth potential of the market across different segments, such as product, application, end user, and region. The report also analyzes factors (such as drivers, restraints, challenges, and opportunities) affecting the market growth. It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total recombinant proteins market. The report forecasts the revenue of the market segments with respect to five major regions.

Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on recombinant proteins offered by the top 25 players in the recombinant proteins market. The report analyses the recombinant proteins market by product, application, end user, and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various recombinant proteins across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the recombinant proteins market.
• Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the recombinant proteins market.

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This release was published on openPR.