Press release
Recombinant DNA Technology Market Size, Growth Share, Top Key Players And Forecast 2024-2033
Recombinant DNA Technology Market
The Business Research Company presents an extensive market research report on the Recombinant DNA Technology Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The recombinant dna technology market size has grown strongly in recent years. It will grow from $816.9 billion in 2023 to $882.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to healthcare demands, biopharmaceutical industry growth, rising investments in r&d, emergence of personalized medicine.
The recombinant dna technology market size is expected to see strong growth in the next few years. It will grow to $1214.85 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising chronic diseases, emerging biotech startups, increasing funding in biotech, globalization of biotech markets, consumer acceptance and education. Major trends in the forecast period include scientific advancements, gene editing advancements, cell and gene therapies, development of rna therapeutics, therapeutic applications in rare diseases, ai and data integration.
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Key Market Players:
Major companies operating in the recombinant dna technology market report are Profacgen BioTech Corp., Amgen Inc., Novartis International AG, GenScript Biotech Corporation, Pfizer Inc., Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Merck & Co. Inc., Biogen Inc., GlaxoSmithKline plc, New England Biolabs Inc., Bayer CropScience, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc., Gilead Sciences Inc., Moderna Inc., Vertex Pharmaceuticals Incorporated, CRISPR Therapeutics AG, Editas Medicine Inc., bluebird bio Inc., Illumina Inc., Qiagen N.V., Lonza Group AG, Bio-Rad Laboratories Inc., Agilent Technologies Inc., Becton Dickinson and Company, Sartorius AG, Abcam plc, Horizon Discovery Group plc, Integrated DNA Technologies Inc., Twist Bioscience Corporation, Synthego Corporation, Codex DNA Inc., InvivoGen, Eurofins Scientific SE, Sarepta Therapeutics Inc., Sangamo Therapeutics Inc.
Market Drivers:
The increasing number of chronic diseases is expected to propel the growth of the recombinant DNA technology market. Chronic diseases, which are defined as ailments that last for a year or longer, necessitate continuing medical care, restrict everyday activities, or both. Recombinant DNA technology has improved healthcare by creating biopharmaceuticals proteins used in pharmaceuticals and by replacing defective genes with healthy ones through gene therapy, aiming to cure illness. For instance, in April 2021, according to a report shared by WHO, a Switzerland-based specialized agency of the United Nations responsible for international public health, noncommunicable diseases (NCDs) accounted for 41 million annual deaths, or 71% of all deaths worldwide. Between the ages of 30 and 69, more than 15 million people per year die from an NCD; 85% of these premature deaths take place in low- and middle-income nations. Therefore, the increase in chronic diseases is driving the growth of the recombinant DNA technology market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/recombinant-dna-technology-global-market-report
The recombinant dna technology market covered in this report is segmented -
1) By Product Type: Recombinant Protein Drugs, Vaccines, Genetically Modified Crops, Expression Systems, Cell and Gene Therapy, Gene Editing
2) By Component Type: Expression System, Cloning Vector
3) By Application Type: Food And Agriculture, Health And Disease, Environment, Other Application Types
4) By End-Use Type: Biotechnology And Pharmaceutical Companies, Academic And Government Research Institutes, Other End-Use Types
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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