Recombinant Proteins Market Showing Impressive Growth During Forecast Period 2023

According to Precision Business Insights (PBI), the latest report the global recombinant proteins market size was valued at USD 1,926.1 million in 2022 and is projected to grow at a 3.1% CAGR during the forecast period 2023 to 2029. Recombinant proteins have been artificially expressed utilising techniques from recombinant DNA (rDNA) technology. To express a recombinant protein, a DNA molecule containing the required protein is found, extracted, cloned in an appropriate vector, and then expressed in a suitable host expression system. This rDNA molecule is expressed within the host expression system to create recombinant protein. Recombinant DNA technology allows for a more efficient technique of producing vast quantities of proteins. These proteins are used in various products, including detergents, cosmetics, feed additives, food manufacturing, diagnostics, vaccinations, and medicines. Furthermore, recombinant proteins are very active and play an important role in treating certain disorders, such as haemophilia. Most of such recombinant proteins; are derived from human proteins to compensate for the defects of functional proteins in vivo or to upsurge protein function in a body. Factors such as escalation in incidents and prevalence of cancer and increasing research and development (R&D) activity have increased the focus towards biosimilar, biologics as well as recombinant protein productions.

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The Hormone Segment is Dominating the Recombinant Proteins Market:
Based on the product type, the global recombinant protein market is segmented into hormones, growth factors, cytokines, enzymes, and others. The hormones segment is expected to account for a larger revenue share. The market is expected to grow at a double-digit growth rate over the forecast years due to its extensive utilization in the research and development of treatment options for diseases such as diabetes.

The clinical diagnostic services market is segmented based on product type, by application and geography
By Product Type
• Hormone
• Growth Factor
• Cytokines
• Enzymes
• Others

By Application
• Research Application
• Therapeutic Use
• Biotechnology Industry

By Geography
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

North America Leads Recombinant Proteins Market:
North America is expected to hold a significant market share in the global Recombinant Proteins market and is projected to grow at a prominent growth rate over the forecast years. The region's dominance can be ascribed to growth in cancer, diabetes, and other significant chronic diseases, as well as increased research and development programs and government financing. According to the American Diabetes Association, around 34.2 million people in the United States, or 10.5% of the population, had diabetes in 2018. Further, Asia Pacific held highest CAGR during the forecast period.

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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players.
The global recombinant proteins market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In November 2019, Abcam plc. Launched a strategic partnership with BrickBio, Inc. to introduce conjoin-prepared sites into immunoglobulins and other proteins in bacterial and mammalian expression systems.

Key player's profiles in the recombinant proteins market report are Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Novo Nordisk A/S, Eli Lilly and Company., Merck KGaA, Abcam PLC, Amgen Inc., Sanofi SA, Enzo Life Sciences, Inc.

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This release was published on openPR.