What is the Global market size of the Recombinant Protein Market?

Global Recombinant Protein Market size was valued at USD 1.75 billion in 2021 and is poised to grow from USD 1.96 billion in 2022 to USD 4.18 billion by 2030, growing at a CAGR of 12% in the forecast period (2023-2030).

What is the key driver of the Global Recombinant Protein Market?

The market has seen a consistent increase in R&D expenditure and funding in pharmaceutical and biotechnological firms throughout the period. The number of regulatory requirements has increased dramatically in recent years, expanding a lot of choices to those with unusual illnesses like hemophilia and other bleeding disorders.

Global Recombinant Protein Market Size, Share, Growth Analysis, By Product Type(Hormone, Enzymes), By Application(Research, Therapeutics) - Industry Forecast 2024-2031

Report ID: SQMIG35H2039 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 66 | Figures: 75

Global Recombinant Protein Market Insights

Global Recombinant Protein Market size was valued at USD 1.75 billion in 2019 and is poised to grow from USD 1.96 billion in 2023 to USD 4.18 billion by 2031, growing at a CAGR of 12% in the forecast period (2024-2031).

The global recombinant protein market size is projected to rise at a high CAGR between 2023 and 2030. The genetic level of recombinant proteins proceeds with the isolation of coding sequence for the target protein and its cloning into an expression plasmid vector. The majority of therapeutic recombinant proteins are produced in microbes, yeast, or animal cells in culture. Studying protein-protein interactions requires the use of recombinant proteins. Detergents, beauty products, food supplements, food manufacturing, diagnostics, vaccinations, and therapies are just a few of the applications for these proteins.

Rise in the healthcare organizations investment in research and development activities, growing frequency of chronic illnesses, and a spike in the range of regulatory bodies ought to reduce viral infections are the primary factors towards the growth of the global recombinant protein market.

Global Recombinant Protein Market Report Snapshots

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There are several dominant players in the recombinant protein business. Several strategic activities, such as mergers, partnerships, alliances, new product launches, acquisitions, and collaborations, are being implemented by the firms to help them increase their international competitiveness. For instance, in February 2021, In order to determine the best antigen dosages for the Phase 3 evaluation of its adjuvanted recombinant protein COVID-19 vaccine candidates, Sanofi and GSK have begun a new Phase 2b trial with 720 individuals who are 18 years old & older. 'Thermo Fisher Scientific Inc.', 'Merck KGaA (EMD Millipore)', 'Novartis International AG', 'AbbVie Inc.', 'Amgen Inc.', 'Roche Holding AG', 'Pfizer Inc.', 'Johnson & Johnson', 'Sanofi S.A.', 'Biogen Inc.', 'Eli Lilly and Company', 'Bristol-Myers Squibb Company', 'Gilead Sciences Inc.', 'Celgene Corporation (a subsidiary of Bristol-Myers Squibb Company)', 'Genentech Inc. (a subsidiary of Roche Holding AG)', 'Regeneron Pharmaceuticals Inc.', 'AstraZeneca plc', 'GlaxoSmithKline plc', 'Bio-Rad Laboratories Inc.', 'Qiagen N.V.'

Over the projected time frame, the antibody segment is projected to expand at an exponential rate. This process has attracted attention in recent years and several businesses have embraced it for use in a variety of applications. After a selection procedure for antibodies with the necessary qualities, the genes can be introduced into an expression system, and the antibodies can be generated in large amounts.

In 2022, North America accounted for the largest share of the global market, and this trend is expected to continue during the forecast. The rising prevalence of chronic diseases, growing R&D investments, increased research and government incentives, and the presence of manufacturing companies in the U.S. are all factors contributing to North America’s market development.

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Global Recombinant Protein Market Size, Share, Growth Analysis, By Product Type(Hormone, Enzymes), By Application(Research, Therapeutics) - Industry Forecast 2024-2031

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