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

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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).

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 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

Product ID: SQMIG35H2039