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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).

These participants are working together in alliances to provide their services in a variety of life science fields. Also, as a realistic tactic to maintain competitiveness in the market, companies are growing constantly their manufacturing facilities. 'Thermo Fisher Scientific Inc.', 'Merck KGaA', 'GenScript Biotech Corporation', 'Horizon Discovery Group plc', 'Lonza Group AG', 'Novartis AG', 'Integrated DNA Technologies, Inc.', 'Genentech, Inc.', 'Amgen Inc.', 'Biogen Inc.', 'Illumina, Inc.', 'Agilent Technologies, Inc.', 'Roche Holding AG', 'Qiagen N.V.', 'Eurofins Scientific SE', 'Takara Bio Inc.', 'Celgene Corporation', 'Bio-Rad Laboratories, Inc.', 'Gensight Biologics S.A.', 'Promega Corporation'

During the forecast period, market expansion is expected to be driven by increasing strategic collaborations between leading market players to advance recombinant DNA technology. To create novel therapeutics based on recombinant DNA technologies, key market players strategically work with large biopharmaceutical companies and research institutions. Such market-wide strategic alliances are anticipated to spur market expansion soon.

A large amount of public acceptance is now being acquired for the development of genetically modified crops in agriculture to increase yield and resistance to herbicides or pesticides. The genetically modified tomato CGN-89564-2 was among the first commercially available genetically engineered crop items to be granted a license for human consumption. Also dependent on DNA molecular marker technologies are the identification, evaluation, mining, and innovation of plant germplasm resources. Thus, it is expected that increasing RDT being used in food and agriculture will drive the original study segment's growth. Research on genetically modified organisms (GMOs), such as that on microorganisms that are regarded as bio degraders and generators of clean fuel, helps a wide range of additional sectors. Numerous human and plant illnesses are treated with genetically modified vaccinations. Recombinant DNA technology has opened up a variety of potential opportunities and prospects for creating a variety of therapeutic items with immediate effects in medical genetics and biomedicine. This is achieved by altering microbes, animals, and plants to produce medically valuable compounds.

North America dominated the market. The largest portion of the North American continent can be ascribed to the country's high concentration of biopharmaceutical manufacturing companies. Development aid has also been aided by the existence of powerful regulatory bodies that can keep an eye on the numerous ethical and scientific issues raised by the use of technology.

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Global Recombinant DNA Technology Market

Product ID: SQMIG35H2067