The Global Recombinant Protein Market is anticipated to grow at a CAGR of 11.2% during the forecast period. Recombinant proteins are used in designing new treatments for serious chronic disorders such as cancer and other rare diseases. A special technique known as recombinant DNA (rDNA) technology is used for recombinant protein production. Recombinant proteins are categorized into hormones, growth factor, cytokines, plasma protein factor, recombinant metabolic enzymes, and others, depending on the type of protein.
Recombinant technology is the mechanism involved in the production of industrial recombinant proteins. Industrial recombinant proteins and their derivatives have various applications in industries such as food, pesticides, pharmaceuticals, veterinary, agriculture, and detergents. Due to this, the industrial recombinant protein market is gaining a lot of attention worldwide. As a result, the producers of industrial recombinant protein have found great market opportunities.
Countries such as the United States, Mexico, Canada, France, Italy, and others spend huge sums on research, and therefore, these countries are playing a key role in driving the demand for industrial recombinant proteins. The key drivers for the recombinant protein market are an increase in R&D spending and the growing use and applications of industrial recombinant protein in pharmaceutical, agriculture, and food industries.
Further, there has been a continuous rise in chronic diseases across the world, which has led to the growth in the recombinant protein market, as these proteins are important for the treatment of several chronic diseases. Another major driver for the recombinant proteins market is the growing inclination towards biotechnology in several economies around the world.
However, the key constraint for market growth is the excessive cost and time required to produce recombinant proteins. Therefore, researchers and current producers are actively working towards finding more affordable and less time-consuming solutions.
With recent shift in focus from the bulk production process to post-production techniques, the recombinant protein technology has become the norm, promising improved stability and distribution. A highly efficient recombinant protein plays an indispensable function in the treatment of certain diseases, such as haemophilia.
In underdeveloped and developing countries, where the pharmaceutical and food industries have less resources available to obtain industrial recombinant protein, manufacturers have a lot of opportunities. In the agricultural industry, which is the primary source of income for the people in Asian and South African countries, commercial recombinant proteins are being increasingly used. This offers a major forum for market entrants and emerging players to join the industrial market for recombinant protein.
In addition to this, due to increased need for medicines across the globe, there is an upsurge in drug development. This can significantly boost the industrial recombinant protein market and take it to a different level. Manufacturers of recombinant proteins also have good prospects in the detergent manufacturing industry, as the companies in this industry use industrial recombinant proteins for better performance.
Global Recombinant Protein Market, By Type
Based on type, the global market has been segmented into hormone, growth factor, enzyme, antibody, and others. The hormone segment has held the largest recombinant protein market share as a result of the current market impact and is estimated to grow with a higher CAGR during the forecast period.
Global Recombinant Protein Market, By Application
On the basis of end-user, the global market has been segmented into drug discovery & development, biopharmaceutical production, and others. Among these, the drug development & production segment is expected to hold the largest share of the global recombinant proteins market during the forecast period.
Global Recombinant Protein Market, By End-user
The recombinant protein market has been segmented into biopharmaceutical firms, academics & research institutes, and others, based on end-users. The largest share in the global recombinant protein market was held by the biopharmaceuticals segment in 2018. During the forecast period also, this segment is expected to register impressive growth.
Global Recombinant Protein Market, By Geographical Regions
Due to the rising research spending, North America is projected to dominate the worldwide demand for recombinant proteins. Because of the largest concentration of world-class research universities and academic medical centers, the US is expected to experience the highest growth. The US's R&D investment is around 2.7% of its gross domestic product (GDP).
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