Recombinant Protein Market Rising Demand is Fueled by Pharma and Biotech Research

ROCKVILLE, MARYLAND, UNITED STATES, September 20, 2023/EINPresswire.com/ -- The global recombinant proteins market size, valued at US$ 457.1 Million in 2022, is on a trajectory to reach US$ 719.5 Million by 2032, with a steady Compound Annual Growth Rate (CAGR) of 4.6% forecasted between 2022 and 2032. Accounting for 10% of the overall drug market currently, it is poised to expand its share significantly in the coming years.

The link between human diseases and specific protein dysfunctions has propelled the demand for recombinant proteins. Chronic conditions like cancer, diabetes, and anemia have paved the way for the production of recombinant proteins. Moreover, the burgeoning healthcare sector's focus on innovation in biologics and biosimilars has further catalyzed advancements in the recombinant proteins market. Consequently, sales of recombinant proteins have experienced substantial growth, reflecting a historical Compound Annual Growth Rate (CAGR) of 4.3%.

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Anticipating a continued upward trajectory, the demand for recombinant proteins will be driven by increased investment in research and development (R&D) and a growing need for protein-based regenerative and therapeutic medicines on a global scale.

Key Takeaways from the Market Study:

-Basic research will remain the largest application segment in the global recombinant proteins market. Revenues from basic research will reach roughly US$ 270 Mn in revenues by the end of 2022.

-Toxicity screening, and drug discovery & development will witness the fastest expansion through 2022, based on application of recombinant proteins.

-Recombinant protein sales for forensic testing application will exhibit the lowest CAGR in the market through 2022.

-North America is projected to remain dominant in the global market for recombinant proteins, with sales poised to account for approximately US$ 150 Mn revenues by 2022-end.

-Europe will continue to be the second largest market for recombinant proteins over the forecast period.

-The market for recombinant protein in Middle East & Africa (MEA) will exhibit a sluggish expansion through 2022.

-Academic & research institutes will remain the most lucrative end-users in the global recombinant proteins market, accounting for more than one-third revenue share of the market throughout the forecast period.

-Biopharmaceutical companies will continue to be the fastest expanding end-users of recombinant proteins in the global market.

Competitive Landscape:

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 players in the Recombinant Protein Market

-Thermo Fisher Scientific, Inc.
-Sigma Aldrich
-Merck Millipore Limited
-GenScript Corporation
-Crown Bioscience, Inc.
-PerkinElmer, Inc.
-BPS Bioscience Inc.
-Bio-Rad Laboratories, Inc.

North America to Remain Dominant in the Market:

North America is poised to maintain its dominant position in the global recombinant protein market, with projected sales nearing US$ 150 million by the end of 2022. Europe is anticipated to emerge as the second most lucrative market for recombinant proteins, a trend expected to persist throughout the forecast period.

Conversely, the Middle East & Africa (MEA) region is expected to experience sluggish growth in the market through 2022.

Recombinant proteins, particularly those contributing to molecular growth, are expected to remain the most lucrative product category in the market. Checkpoint regulators follow closely in terms of market potential. Additionally, sales of growth factors and cytokines are poised to exhibit similar Compound Annual Growth Rates (CAGRs) through 2022.

In contrast, sales of chemokines are estimated to demonstrate the fastest expansion through 2022. Demand for enzymes and inhibitors, however, is expected to remain sluggish throughout the forecast period.

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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

Check out more related studies published by Fact.MR Research:

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Membrane Protein Characterization Service Market: The global membrane protein characterization service market stands at USD 1.82 Billion in the year 2022. This market is growing with a CAGR value of 10.12% in the forecast duration. The valuation of the membrane protein characterization service market is expected to surpass USD 3.93 Billion by end of 2032

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