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Oct 14, 2024

Recombinant Proteins Market Size to Reach USD 5.0 Billion by 2032, at a CAGR of 7.6% - SNS Insider

The rising prevalence of chronic diseases, increased demand for biologics and biosimilars, and advancements in recombinant protein products are key factors driving the market's growth, projected from

The rising prevalence of chronic diseases, increased demand for biologics and biosimilars, and advancements in recombinant protein products are key factors driving the market's growth, projected from 2024 to 2032.

Pune, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Recombinant Proteins Market Size & Growth Analysis:

According to SNS Insider, the Recombinant Proteins Market Size valued at USD 2.5 billion in 2023, is forecasted to reach USD 5.0 billion by 2032, expanding at an aggressive CAGR of 7.6% during the forecast period of 2024-2032.

Market Snapshot

The main factors behind the global market for recombinant proteins are increased demand for therapeutic proteins, advances in biotechnology, and rising R&D activities. This market is expanding based on the present requirements for effective treatments in fields such as oncology, immunology, and infectious diseases. The most important innovations on the supply side, such as more efficient production methods and new protein engineering technologies, make recombinant proteins more accessible and affordable. Another factor increasing the demand for protein-based therapies is due to the growing prevalence of chronic diseases and genetic disorders. The shifted focus towards personalized medicine and regenerative therapies takes this market further as such treatments require highly specific and tailored recombinant proteins.

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Key Recombinant Proteins Market Players:

Abcam plc.

Sino Biological, Inc.

R&D Systems, Inc.

GenScript

BPS Bioscience, Inc.

Bio-Rad Laboratories, Inc.

Merck KGaA

Thermo Fisher Scientific

Proteintech Group, Inc.

Enzo Life Sciences, Inc.

Abnova Corp.

RayBiotech Life Inc.

STEMCELL Technologies Inc.

Bio-Techne

BioLegend Inc

Enzo Biochem Inc.

StressMarq Biosciences Inc.

Sartorius CellGenix GmbH

Others

Recombinant Proteins Market Report Scope:

Report Attributes

Details

Market Size in 2023

US$ 2.5 Billion

Market Size by 2032

US$ 5.0 Billion

CAGR

CAGR of 7.6% From 2024 to 2032

Base Year

2023

Forecast Period

2024-2032

Historical Data

2020-2022

Key Regional Coverage

North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Product & Services

In 2023, the product type dominated the global recombinant proteins market with more than 65.7% of the total revenue. This market will grow at an extremely fast rate due to the higher demand for recombinant proteins in cancer studies, HIV/AIDS treatment, COVID-19 treatment, and other medical studies. Growth factors and cytokines are in greater demand because these medications play a key role in the treatment of cancer and regenerative medicine.

By Application

Therapeutics accounted for the largest share in 2023, with revenue exceeding 33.9% of the total. This application is forecasted to advance with the highest CAGR due to rising cases of diseases such as cancer, diabetes, and genetic disorders. Recombinant proteins are significantly advantageous in eradicating these diseases and as a result of high spending in drug development, this market is accelerating further. For example, diabetes is increasingly common, with an estimated 537 million adults in 2021, and demand this high for protein therapeutics is humongous.

By End-User

The pharma and biotech companies grabbed the largest market revenue share in 2023 and are going to continue holding the maximum CAGR market followed by the other firms. It is due to a lot of investment in biologics and biosimilars, improvement in bioprocessing technologies, and increased R and D activities. Some of the firms that are involved in such innovations are Pfizer by including development as part of programs like CTI. These firms are some of the pioneers of innovation and collaborations in recombinant protein development.

Recombinant Proteins Market Key Segmentation:

By Product & Services

Product

Production Services

By Application

Drug Discovery & Development

Therapeutics

Research

Others

By End-user

Pharmaceutical & Biotechnology Companies

Academic & Research Institutes

Diagnostic Laboratories

Others

By Host-cells

Mammalian Systems

Insect Cells

Yeast & Fungi

Bacterial Cells

Others

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Regional Analysis

North America:

North America led the recombinant proteins market in 2023 with an expanded biotech and pharmaceutical industry. Robust R and D activities and huge investments in healthcare innovation are some of the factors backing this economy. The United States is also the geographic location of prominent biotech companies and research organizations that are front-runners in the discovery and commercialization of recombinant proteins. Examples of such regions have been Genentech and Amgen. The region also has a high rate of chronic diseases as well as a positive regulatory environment for biopharmaceuticals.

Asia-Pacific

The fastest growth in the recombinant proteins market is expected from the Asia-Pacific region, mainly due to the growing investments in biotechnology, expansion of healthcare infrastructure, and increasing demand for advanced therapeutics. China and India are making tremendous strides in biotech R&D and manufacturing capabilities. The major contributors to this region's growth are WuXi AppTec and Bio-Rad Laboratories. This geography has seen the growing need for personalized medicine and low-cost healthcare options, which have become a major growth driver.

Recent Development

April 2024- The Novo Nordisk Company launched its new, recombinant insulin product, NovoPen Echo Plus. It makes use of advanced delivery technology to advance the delivery of diabetes management.

June 2024- Thermo Fisher Scientific launched BioPro S2000 Single-Use Bioreactor. This has optimized the production process of recombinant proteins for the manufacturing process of biopharmaceutical drugs.

Trend Snapshot

Revenue in recombinant proteins is growing exponentially due to new developments in biotechnology, investments in R&D, and increased therapeutic needs.

Product type is the revenue bank because of the growth in the services part as protein production on a large scale demands a lot of complexity.

North America is expected to be a major market, but Asia-Pacific is ready for the highest growth due to simple dynamic shifts in global terms.

New Developments: Current developments focus on current and ongoing innovations in the applications of recombinant proteins as well as in the production technologies advance.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

Incidence and Prevalence (2023)

Prescription Trends, (2023), by Region

Drug Volume: Production and usage volumes of pharmaceuticals.

Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.

6. Competitive Landscape

7. Recombinant Proteins Market Segmentation, by Product & Services

8. Recombinant Proteins Market Segmentation, by Application

9. Recombinant Proteins Market Segmentation, by End-user

10. Recombinant Proteins Market Segmentation, by Host-cells

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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