Worldwide Demand For Recombinant Protein Is Anticipated To Reach US$ 719.5 Million By 2032-End

Posted on 2022-10-31 by Fact.MR in Healthcare // 0 Comments

Most human diseases are partly associated with the dysfunction of specific proteins. Thus, growing chronic diseases such as cancer, diabetes, anemia, etc., have created a path for the production of recombinant proteins. Also, augmenting focus on healthcare provides a space for innovation in biologics and biosimilars which also supports the invention in the recombinant proteins market in the past years.

Hence, the sale of recombinant protein has observed noticeable growth during the historical period representing a compound annual growth rate of 4.3%. Furthermore, the demand for recombinant protein will observe an upward trend during the forecast period due to rising investment in R&D, and escalating demand for protein-based regenerative and therapeutic medicines around the globe.

Apart from healthcare, recombinant proteins are also used in agriculture, food production, and bioengineering which will further increase the demand in near future. Fact.MR suggests that the global recombinant protein market will be valued at US$ 719.5 Million by 2032 end posing a CAGR of 4.6% since 2022.

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What’s Driving Demand for Recombinant Protein?

“Evolving Generations of Recombinant Protein with Wide Applications Spur the Market Growth’’

Recombinant proteins are not only used in research but also used as a drug to treat various chronic diseases such as dwarfism, congestive heart failure, diabetes, cerebral apoplexy, myocardial infarction, multiple sclerosis, anemia, neutropenia, etc. There are almost more than 130 recombinant proteins that have been approved by US FDA to date. Though, more than 170 recombinant proteins are manufactured and are widely used in medicines across the world.

Moreover, recombinant protein generations came up with some improvements as compared to the previous generation. Such as first-generation recombinant proteins comprised of native structures of proteins, furthermore, the second generation encompassed proteins with enhanced properties such as specificity, biodistribution, and efficacy. Furthermore, the third generation of recombinant protein comprised new formulations and new routes of administration with higher efficacy and safety. Hence, product improvisation is the key contributor to the recombinant protein market growth.

Will the High R&D Spending in United States Drive High Demand for Recombinant Protein?

The U.S. is anticipated to grow with a CAGR of 5% during the forecast period. The high growth of recombinant proteins market in U.S. is due to high spending on research and development, government support for innovations, and huge presence of key market players in that country.

Apart from this, the United States is a prominent country for prevalence of chronic diseases such as cancer and diabetes which makes it a noticeable country for innovations in recombinant proteins. Intensifying per capita healthcare spending is also a major factor in the growing acceptance of recombinant proteins in the U.S.

Which Product Type is Most Widely Used?

The recombinant protein under the product type segment is categorized into Immune checkpoint regulators, chemokines, growth factors, cytokines, colony-stimulating factors, hormones, enzymes & inhibitors, and others. Amongst them, the recombinant growth factors sub-segment holds the largest market share of 21.3% of the global market in 2021 and is expected to witness a CAGR of 4.5% during the forecast years of 2022-2032.

Recombinant growth factors have gained popularity in the market owing to their wide array of applications. Various recombinant growth factors have been verified for their capability to quicken chronic wound healing in diabetic patients. Apart from this, one of the prominent applications of recombinant growth factors in clinical nephrology. It acts as a growth hormone in children who suffer from growth failure with chronic renal failure. Hence, the wide applications of recombinant growth factors give them popularity among other recombinant proteins.

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Competitive Landscape

Prominent recombinant protein manufacturers are A.M.S. Biotechnology (Europe) Limited, Bio-Rad Laboratories Inc., BPS Bioscience Inc., Abcam plc, PerkinElmer Inc., Crown Bioscience Inc., GenScript Corporation, Merck Millipore Limited, Sigma Aldrich Company Ltd., Novoprotein Scientific, PeproTech Inc., Thermo Fisher Scientific Inc.

Key market players are focusing on products to widen the applications of recombinant proteins in various industries by investing in R&D. Investment to bring novel products into the market is the key strategy among the market leaders. Apart from this, acquisitions, partnerships, and collaborations are some in-organic growth tactics that support maintaining their position in the market.

In August 2022, Chinese biotechnology company Bao Pharmaceuticals reported that it had raised more than US$ 100 million in a Series B investment round. The company focuses on the commercialization of recombinant protein therapeutics and antibody drugs. The funding was meant to be used for the creation and marketing of medicines made from recombinant proteins. This round was won by Oriental Fortune Capital.
In March 2020, AMS Biotechnology launched its recombinant protein for the detection of COVID-19 and related RNA viruses. The product launch helped the company to achieve high revenue during the pandemic period.

Fact.MR has provided detailed information about the price points of key manufacturers of recombinant protein positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Segments in Recombinant Protein Industry Research

By Product Type :

Immune Checkpoint Regulators
Chemokines
Growth Factors
Cytokines
Colony Stimulating Factors
Hormones
Enzymes & Inhibitors
Other

By End User :

Biopharmaceutical Companies
Contract Research Organizations (CROs)
Academic & Research Institutes
Forensic Science Laboratories
Food & Beverage Companies
Diagnostic Centers
Others

By Application :

Drug Discovery & Development
Basic Research
Toxicity Screening
Biopharmaceutical Production
Drug Screening
Tissue Engineering
Forensic Testing

By Region :

North America
Latin America
Europe
East Asia
South Asia & ASEAN
Oceania
MEA

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What’s Driving Demand for Recombinant Protein?

Will the High R&D Spending in United States Drive High Demand for Recombinant Protein?

Which Product Type is Most Widely Used?

Competitive Landscape

Key Segments in Recombinant Protein Industry Research

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