Product ID: SQMIG35H2067
Global Recombinant DNA Technology Market Size, Share, Growth Analysis, By Product(Medical (Therapeutic Agent, Human Protein), By Component(Expression System (Mammalian, Bacteria), By Application(Health and disease (Human, Animal)), By End User(Pharmaceutical and biotechnology companies, Research institutes) - Industry Forecast 2024-2031
Report ID:
SQMIG35H2067 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
124 |
Figures:
77
Global Recombinant DNA Technology Market Insights
Recombinant DNA Technology Market size was valued at USD 141.96 billion in 2019 and is poised to grow from USD 152.79 billion in 2023 to USD 274.52 billion by 2031, growing at a CAGR of 7.6% in the forecast period (2024-2031).
The development of recombinant DNA (rDNA) technology has given scientists unprecedented control over genetic data. It is now used in a wide range of applications, including conventional and non-traditional. Without the aid of human donors, recombinant medications and therapeutics have indeed been produced with remarkable success over the past few years.
The commercial success of genetic modification insulin as a diabetes treatment is the classic example of this achievement. The biotech and pharmaceutical industries are exploring how rDNA techniques might be used in various facets of illness management. This is primarily done to combat the rising costs associated with chronic illnesses and stay up with the growing market for therapeutics.
Furthermore, by enabling it possible to produce a recombinant DNA molecule, the gradual development of rDNA techniques has opened up new avenues for improving biopharmaceutical development. The adoption of this technology is expected to be fueled by the presence of a strong biopharmaceuticals pipeline, especially the pipeline for recombinant proteins. The growth of the market is due primarily to the development of recombinant products using rDNA techniques in conjunction with CRISPR/Cas9 nuclease, ZFN, and TALEN enabling simple & precise genome editing with no restriction by organisms. Several review studies carried out by scientists have shown the efficacy of rDNA technology.
The growth of GM crop acreage globally is evidence of this technology's success in the agricultural and food sectors. Its use in other unusual applications, such as the production of biofuel and biopesticides to solve environmental issues, has indeed been inspired by this. Because of the ethical issues in numerous applications, such as gene therapy, the use of this technology has been contentious. Technology and morality have varied, discipline-specific concerns in the diverse fields of agriculture, the environment, and medicine.
US Recombinant DNA Technology Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Recombinant DNA Technology Market Report Snapshots
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