by The Recombinant protein market provides crucial therapeutic proteins used across many healthcare applications including medicines, diagnostics, and medical research. These proteins are expressed from isolated gene sequences using living organisms and are identical to naturally occurring human proteins. Advantages of recombinant proteins over traditional protein isolation methods include greater yields, consistent purity and quality. The global demand for protein-based drugs and diagnostics is driving significant investments towards expanding recombinant protein production capabilities.
The Global Recombinant Protein Market is estimated to be valued at US$ 3607.34 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period from 2024 to 2031.
Key Takeaways
Key players in the Recombinant Protein Market Demand Key players operating in the Recombinant Protein market include Merck KGaA, Allergan plc (A subsidiary of AbbVie Inc.), Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Bausch & Lomb, Inotek, Jadran-galenski laboratorij d.d. JGL d.d, Aerie Pharmaceutical (A subsidiary of Alcon Management S. A) and Mylan N.V (A subsidiary of Viatris Inc.).
Growing demand: The growing demand for protein-based drugs and diagnostics is propelling the recombinant protein market growth. Biologics have revolutionized the treatment of chronic diseases. According to estimates, over 40% of global pharmaceutical R&D investment and spending is focused on the development of protein-based medicines.
Global expansion: Key players are expanding their production facilities globally to meet the burgeoning demand. For instance, Merck KGaA has invested over $500 million since 2015 to expand its recombinant protein production capacities across multiple sites. Novartis AG also plans to double its large-scale microbial manufacturing capacities by 2026 through continuous investments.
Market key trends
One of the key trends driving the Recombinant Protein Market is the growing preference for biosimilars over traditionally developed biologics. Biosimilars offer significant cost savings compared to originator biologics and expand healthcare access. Regulatory bodies are also encouraging biosimilar development through specialized approval pathways. This is expected to boost the demand for recombinant therapeutic proteins in the coming years.
Porter’s Analysis
Threat of new entrants: The recombinant protein market requires high R&D investment and economies of scale which pose a barrier for new companies to enter.
Bargaining power of buyers: Individual buyers have low bargaining power due to the importance of recombinant protein in healthcare. However, large pharmaceutical companies may negotiate lower prices in bulk purchases.
Bargaining power of suppliers: A few biotechnology companies dominate the supply of recombinant proteins, giving them significant bargaining power over prices.
Threat of new substitutes: No close substitutes exist for recombinant proteins in therapeutics as of now. Alternatives are still in early stages of development.
Competitive rivalry: Major players compete on the basis of technological expertise, scale of operations and product portfolios. Competition is high to gain market share.
Geographical Regions
North America accounts for the largest share of the recombinant protein market currently due to established biopharma industry and favorable regulatory environment. Presence of major market players and higher healthcare spending contribute to its prominence.
Asia Pacific is poised to grow at the highest CAGR during the forecast period. Factors such as rising generics market, growing biologics industry and increasing government funding for biomedical research drive the recombinant protein market in the region. China and India are emerging as key markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
