by The global Recombinant Protein Market is estimated to be valued at US$ 3131.37 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Recombinant proteins refer to proteins that are expressed from recombinant DNA molecules in living organisms such as bacteria, yeast, insect and mammalian cultured cells. Recombinant proteins have various therapeutic and industrial applications. They are widely used in biopharmaceutical industry for drug development. Common pharmaceutical recombinant protein includes hormones, blood factors, antibodies, enzymes, growth factors and cytokines. Industrial applications include use of recombinant proteins in diagnostics, research, and development of toxins and vaccines. Advantages of recombinant proteins over native protein includes consistent quality, scalable production and humanization of proteins.
Market key trends:
Recombinant protein drug development is one of the major trends being witnessed in the market. Many biopharmaceutical companies are engaged in the development of recombinant protein drugs for the treatment of various diseases like cancers, metabolic disorders, neurological disorders etc. For instance, genetically engineered monoclonal antibody drugs are a major class of recombinant protein drugs and several antibody drugs have been approved for cancer therapy. Growing prevalence of chronic diseases coupled with expanding biologics therapeutics market is expected to drive the demand for recombinant protein during the forecast period. Advancements in protein expression technologies are enabling production of complex therapeutic proteins at large scale which is further fueling the market growth.
Porter’s Analysis
Threat of new entrants: Low economies of scale and brand identity pose barrier for new entrants in the crowded recombinant protein market.
Bargaining power of buyers: Large pharmaceutical companies exert pricing pressure on suppliers due to their strong bargaining position and buying power.
Bargaining power of suppliers: Few key suppliers dominate the recombinant protein market thus wielding strong influence over prices.
Threat of new substitutes: Growing adoption of alternative techniques like gene therapy can potentially substitute existing recombinant technology.
Competitive rivalry: Intense competition between established biopharma giants keeps prices low and innovates new applications.
Key Takeaways
The global Recombinant Protein Market Share is expected to witness high growth, exhibiting a CAGR of 11.% over the forecast period, due to increasing R&D investments in drug development coupled with growing demand for biological drugs.
The North America region currently dominates the recombinant protein market and is expected to remain the highest revenue generating regional market through 2030. Presence of prominent pharmaceutical companies and high healthcare expenditure in the US and Canada contributes to the major market share of North America.
Europe is the second largest and a rapidly growing market for recombinant proteins owing to increasing adoption of biologicals and strong government support for biotechnology research.
Key players operating in the recombinant protein market are Merck KGaA, OriGene Technologies, Inc., Thermo Fisher Scientific Inc., Feldan Therapeutics, ACROBiosystems, Abcam plc., Randox Laboratories Ltd., SOL GROUP, Proteintech Group, Inc, Planet Biotechnology, Inc., INFINITE ENZYMES, INC., ORF Genetics, GenScript, BTL Biotechno Labs Pvt Ltd., Prospec-Tany Technogene Ltd., BPS Bioscience, Inc., Sino Biological, Cape Bio Pharms, Abnova Corporation, GeNext Genomics.
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