Recombinant Proteins Market Worth $3.2 Billion | MarketsandMarkets™.

CHICAGO, Feb. 5, 2024 /PRNewswire/ — 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™. 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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Recombinant Proteins Market Scope:

 

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 diseasesIncreasing demand for biologics and biosimilars due to patent expiryIncreasing government support for R&D in life sciencesGrowing preference for personalized medicine

Restraint:

High production costsStringent regulatory approval processes

Opportunities:

Advancements in gene editing technologiesHigh growth potential of emerging marketsEmergence 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.

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side- 70%, and Demand Side – 30%By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%By Region: North America: 40%, Europe: 25%, Asia Pacific: 20%, Latin America: 10%, and the Middle East and Africa: 5%

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Recombinant Proteins Market – Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall recombinant proteins market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (rising incidence of chronic diseases, unleashing innovation in biologics and biosimilars with patent expiry, increasing government support for R&D in life sciences, growing preference for personalized medicine), restraints (high production costs, stringent regulatory approval processes), opportunities (advancements in gene editing technologies, high growth potential of emerging markets, emergence of novel expression systems) and challenges (challenges associated with delivery systems) are influencing the growth of recombinant proteins market.Product Development/Innovation: Detailed insights on newly launched products of the recombinant proteins market.Market Development: Comprehensive information about lucrative markets – the report analyses the recombinant proteins market across varied 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 shares, growth strategies, and service offerings of leading players include 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 Bioscienc Inc (US), Enzo Biochem Inc. (US) and GenScript (China).

Related Reports:

Research Antibodies & Reagents Market – Global Forecasts to 2028

Biosimilars Market – Global Forecasts to 2028

Proteomics Market – Global Forecasts to 2028

Protein Expression Market – Global Forecasts to 2027

Protein Characterization and Identification Market – Global Forecasts to 2026

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