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DUBLIN--(BUSINESS WIRE)--Dec 6, 2022--
The "Recombinant Proteins Market by Product (Growth Factors, Chemokines, Structural Proteins, Membrane Proteins), Application (Drug Discovery & Development, Biopharma Production, Research, Diagnostics), End User (Biotech, CROs) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global recombinant proteins market is projected to reach USD 2.4 billion by 2027 from USD 1.4 billion in 2022, at a CAGR of 11.4% during the forecast period. The market growth is primarily driven by factors such as increasing government investments and R&D expenditure in pharmaceutical & biotechnology companies and academic research institutes alongside the high prevalence of chronic and infectious diseases resulting in the need for recombinant proteins for crucial diagnostics. However, flocking to the market with competitively priced products and labor-intensive processes with low yields of recombinant protein may restrict market growth to a certain extent
The pharmaceutical & biopharmaceutical companies segment is expected to dominate the market during the forecast period.
Based on end users, the recombinant proteins market is segmented into pharmaceutical & biopharmaceutical companies, biotechnology companies, academic research institutes, contract research organizations, and other end users. Pharmaceutical & biopharmaceutical companies accounted for the largest share of the end user market in 2020. The large share of this segment is attributed to the role of recombinant proteins as a crucial component of most small molecule drug discovery programs, as well as the requirement of recombinant protein in drug discovery for the screening of the structural and mechanistic studies of new drug applications. Also, factors such as the patent expiration of blockbuster drugs impact the market growth positively.
The vaccine segment will witness the second-highest growth in the recombinant proteins market during the forecast period.
Based on type, the drug discovery & development market is segmented into biologics, vaccines, and cell & gene therapy. Vaccines accounted for the second-largest share of the drug discovery & development application for the recombinant proteins market and are expected to register the second-highest CAGR during the forecast period. The large share of the vaccine segment is attributed to factors such as increased incidence of diseases such as influenza, viral diseases and hepatitis. The emergence of such diseases has led to increased R&D activities to discover proactive vaccines and this is fueling the market growth for recombinant protein.
North America will dominate the market during the forecast period.
Geographically, the recombinant proteins market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the recombinant proteins market. The large share of this region in the global market is attributed to the rising prevalence of infectious diseases and chronic conditions, growing R&D spending by the government and pharmaceutical industry, increasing research activities by biotechnology firms, and the presence of key market players.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Recombinant Proteins Market, by Product
7 Recombinant Proteins Market, by Application
8 Recombinant Proteins Market, by End-user
9 Recombinant Proteins Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
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KEYWORD:
INDUSTRY KEYWORD: HEALTH OTHER SCIENCE RESEARCH PHARMACEUTICAL SCIENCE BIOTECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/06/2022 11:23 AM/DISC: 12/06/2022 11:23 AM
http://www.businesswire.com/news/home/20221206005863/en