Press release
Recombinant Proteins Market Size, Growth, Share & Trends Analysis
Asia Pacific market is estimated to witness the highest CAGR in recombinant proteins market during the forecast period.
Recombinant Proteins Market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $3.2 billion by 2028, growing at a CAGR of 7.2% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark . The global recombinant proteins market is expected to grow at a CAGR of 7.2% during the forecast period. The growth of the market is projected to be driven by factors such as rising incidence of chronic diseases, increasing demand for biologics and biosimilars due to patent expirations, increasing government support for R&D and growing preference for personalized medicine.
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The growth factors and chemokines segment is expected to have the dominant share of the recombinant proteins market in 2023.
Based on product, the global recombinant proteins market is segmented into growth factors and chemokines, immune response proteins, structural proteins, membrane proteins, kinase proteins, regulatory proteins, recombinant metabolic enzymes, adhesion molecules and receptors, and other recombinant proteins. The growth factors and chemokines segment is segmented into interferons & interleukins. In 2023, the growth factors and chemokines segment held the largest share of the recombinant proteins market. The largest segment is due to their utilization in a range of research domains like neurobiology, wound healing, immunology, transplantation, apoptosis, cancer, HIV/AIDS, COVID-19, cell culture, and stem cell research.
The drug discovery & development segment accounted for the largest share of the application segment in the recombinant proteins market in 2023.
Based on application, the recombinant proteins market is segmented into drug discovery & development, biopharmaceutical production, research, diagnostics, and other applications. The drug discovery & development segment is segmented into biologics, vaccines and cell & gene therapy. The research segment is further segmented into academic research and biotechnology research. The drug discovery & development segment is anticipated to grow at significant CAGR during the forecast period owing to application of recombinant proteins in developing novel compounds that impact the function of disease-associated proteins or their interactions and the increasing focus on research and development in this field emphasizes the importance of these elements.
In 2022, the bacterial cells segment accounted for the largest share of the recombinant proteins market.
Based on host cell, the global recombinant proteins market is segmented into mammalian systems, insect cells, yeast & fungi, bacterial cells and other host cell. In 2022, the bacterial cells segment accounted for the largest share of the recombinant proteins market owing to factors such as distinctive genetic characteristics, ease of manipulation, and cost-effectiveness when compared to other systems.
The Asia Pacific region is the fastest-growing region of the recombinant proteins market in 2023.
The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the recombinant proteins markets in the region is driven by the rising investment by pharmaceutical & biotechnology companies, increasing awareness regarding personalized therapeutics and favourable government policies in Asian countries are pivotal drivers fostering growth in this regional market.
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Recombinant Proteins Market Dynamics:
Drivers:
* Rising incidence of chronic diseases
* Increasing demand for biologics and biosimilars due to patent expiry
* Increasing government support for R&D in life sciences
* Growing preference for personalized medicine
Restraint:
* High production costs
* Stringent regulatory approval processes
Opportunities:
* Advancements in gene editing technologies
* High growth potential of emerging markets
* Emergence of novel expression systems
Challenge:
* Challenges associated with delivery systems
Key Market Players of Recombinant Proteins Industry:
The recombinant proteins market is competitive, with a small number of players competing for market shares. Bio-Techne (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Abcam plc (UK), Abnova Corporation (Taiwan), Biolegend Inc (US), Bio-Rad Laboratories, Inc. (US), BPS Bioscience, Inc. (US), Enzo Biochem, Inc. (US), GenScript (China), Miltenyi Biotec B.V. & Co. KG (Germany), Proteintech Group, Inc. (US), Sino Biological Inc. (China), Acrobiosystems Group (US) and Aviva Systems Biology Corporation (US) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, and agreements, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.
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