According to Fact.MR, a market research and competitive intelligence provider, the global recombinant protein market is estimated at US$ 457.1 million in 2022 and is expected to expand at an impressive CAGR of 4.6% during the forecast years of 2022-2032. Recombinant protein has now reached a peak of biotechnological production due to the emergence of various chronic diseases which has created a huge demand for recombinant proteins across the globe.
The use of recombinant proteins is not limited to the healthcare sector, but has also emerged as a potential component in agriculture, food production, and bioengineering fields. For instance, recombinant proteins can be used to surge the nutritional value of feed ingredients. Thus the heightened applications of recombinant proteins are the key driving factor for market growth.
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In addition, the prominence of recombinant proteins has augmented rapidly for intricate life science research, therapeutic drugs, and diagnostic reagents. Fact.MR suggests that manufacturers should focus on the reduction of cost and develop better technology to overcome the issues associated with the complexity of proteins.
Key Takeaways from Market Study
- The global recombinant protein market is projected to expand at an impressive CAGR of 4.6% and be valued at US$ 719.5 million by 2032.
- The market witnessed 4.3% CAGR for the period of 2017-2021.
- Under product type, the growth factors segment is estimated to be valued at US$ 97.5 million in 2022.
- North America dominated the market with 32.5% market share in 2021.
- Based on region, demand for recombinant protein is expected to increase at CAGRs of 5.2% and 4.4%, respectively, in North America and Europe.
“Rising prevalence of chronic disease inspiring researchers to bring novel innovations in the recombinant protein market in various industries’’ says Fact.MR analyst.
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The key players in the recombinant protein market are highly focusing on investment in research and development to launch innovative recombinant proteins in the market. Apart from this, the adoption of inorganic growth strategies such as acquisitions, partnerships, collaborations, etc. provides strength to the companies to build their business at the global level. Additionally, emerging as well as mid-level market players are more focused on getting approvals for their products from government authorities. Furthermore, the biotechnology industry has observed huge investments and advancements which help to facilitate the production of recombinant proteins for varied applications. The government initiatives for technological advancements in biologics and biosimilars have generated awareness regarding the use of recombinant proteins.
Key Segments in Recombinant Protein Industry Research
By Product Type :
- Immune Checkpoint Regulators
- Growth Factors
- Colony Stimulating Factors
- Enzymes & Inhibitors
By End User :
- Biopharmaceutical Companies
- Contract Research Organizations (CROs)
- Academic & Research Institutes
- Forensic Science Laboratories
- Food & Beverage Companies
- Diagnostic Centers
By Application :
- Drug Discovery & Development
- Basic Research
- Toxicity Screening
- Biopharmaceutical Production
- Drug Screening
- Tissue Engineering
- Forensic Testing
By Region :
- North America
- Latin America
- East Asia
- South Asia & ASEAN
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