Global recombinant protein market was valued at USD 1.11 billion in 2021, and is expected to reach a value of USD 1.7 billion by 2028, at a CAGR of 9.8% over the forecast period (2022-2028).
Westford, USA, Oct. 26, 2022 (GLOBE NEWSWIRE) — The demand for recombinant protein market is on the rise, as scientists explore ways to create new proteins for therapeutic and industrial purposes. This growing interest in recombinant proteins has resulted in a number of companies developing new production methods and products.
There is an increasing demand for recombinant proteins due to the increase in population size and prevalence of chronic diseases such as cancer, Alzheimer’s disease, and autoimmune diseases. Second, there is an increasing need for proteins for medical treatments and devices because these proteins are often more effective than current methods when it comes to treating certain diseases or improving patient outcomes. Third, advances in genomics and proteomics technologies have made it easier than ever to create new proteins from scratch.
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Today, different bioprocessing techniques are used to make a variety of recombinant proteins, including those used in medical treatments. For example, recombinant DNA technology is used to create vaccines, which help protect people from diseases in the global recombinant protein market. It can also be used in the production of drugs and other therapeutic products.
The benefits of using recombinant protein are manifold. For one, recombinant protein products are more accurate and consistent than those made using traditional methods. Additionally, they are often cheaper and faster to produce. This is due in part to the fact that bioprocessing techniques do not require the use of animals or plants – two sources of protein that can be expensive and time-consuming to obtain in the recombinant protein market.
One company that has taken advantage of the increasing demand for recombinant proteins is Applied Biosystems, a part of Thermo Fisher Scientific. The company is currently developing a new manufacturing process for producing recombinant proteins using cells instead of traditional fermentation methods. Applied Biosystems believes that this new process will allow them to produce higher quality recombinant proteins at lower costs.
The recombinant protein market is booming and SkyQuest sees opportunities in all segments. In this report, we overview the current status of the market, share our latest insights on key trends and analyze the growth prospects. We provide detailed market sizing analysis for major countries and forecast the market growth for 2021–2028.
Our report also includes a review of competitive landscape, with an evaluation of existing players and their proposed roadmap. We also profile important upcoming players in the recombinant protein space, including start-ups and largescale manufacturers. Our report will help you to gain an understanding of current market dynamics and to identify growth opportunity areas.
Recombinant Protein Market is Growing But not without Hurdles
The recombinant protein industry is expected to grow at a CAGR of 9.8% over the next seven years, according to a report by SkyQuest Technology. This steady growth is attributable to rapidly expanding field of biomedical research and growing application for food and beverage industry.
One challenge in the growth of this market is the high cost of producing recombinant proteins. SkyQuest predicts that average costs will fall by 6% each year through 2028 due to improvements in technology and mass production. However, the recombinant protein market will still be relatively expensive compared with traditional protein sources.
One of the biggest challenges facing researchers currently is how to create functional proteins without taking into account the undesirable side effects caused by genetic variation in individual cells. This problem has now been partially resolved by using gene editing techniques such as CRISPR-Cas9. These technologies scientists to make precise changes to a genome without allowing sequences, meaning fewer potential problems with side effects or unintended consequences. Accordingly, we believe that there will be an increased reliance on somatic cell gene edited technologies going forward because they offer greater efficacy and reduced risks when compared with traditional techniques.
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Another hurdle for the recombinant protein market is variability in quality. While some proteins derived from plants and animals are very good quality, others can be problematic due to contamination or inaccuracy during manufacturing.
To reduce these limitations, SkyQuest recommends that companies focus on three key strategies: developing innovative methods for quality control; accepting lower-quality products as long as they meet specifications; and using data analytics to identify issues early and correct them before they cause significant problems.
What does the Current Trend in Global Recombinant Protein Market Suggests?
Looking at industry-wide trends, SkyQuest found that there has been a dramatic increase in merger activity within the recombinant protein sector over the past few years. This increased competition has led to aggressive pricing action by some companies, as they strive to expand their market share. In addition, we observed an increase in new product launches as companies seek to tap into new markets or improve their products. Overall, these developments in the global recombinant protein market suggest that there is strong potential for continued growth in the recombinant protein sector over the medium term.
Investment in this field has been picking up in recent years owing to the increasing demand for recombinant proteins for therapeutic and industrial applications. There are several factors driving this trend including the growing aging population, increasing awareness of the importance of food safety, and increased research and development funding.
In terms of therapeutic proteins, there is a burgeoning market for treatments for various diseases such as cancer, diabetes, and Alzheimer’s. Industrial are also seen as valuable commodities proteins due to their roles in manufacturing processes such as polymerization or cross-linking.
The pharmaceutical industry is one of the most active sectors in the recombinant protein market. New drugs are being constantly developed to address epidemics and medical conditions such as Alzheimer’s disease, Crohn’s disease, Huntingdon’s disease, type II diabetes, coronary heart diseases, and psoriasis. The increasing medical need for innovative treatment options has led to an increase in R&D spending by pharmaceutical companies. In 2021, global R&D expenditure on recombinant proteins was estimated to be $1.3 billion.
The chemical industry is also benefiting from recent developments in recombinant protein market. Chemical manufacturers are turning into recombinant proteins to produce custom molecules for specific applications. For example, recombinant proteins can be used to create enzymes that catalyze chemical reactions more effectively than natural enzymes. They can also be used to produce vaccines or other immunological agents without using animal cells or tissues. And lastly, recombinant proteins can be used to create bioactive lipids and polymers that confer unique properties on chemicals and materials. The chemical industry invested approximately $230 million in R&D on recombinant proteins in 2021.
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Top Players in Global Recombinant Protein Market
Abcam PLC (UK)
Amgen Inc. (US)
Bio-Rad Laboratories Inc. (US)
Eli Lilly and Company (US)
Enzo Biochem, Inc (Enzo Life Sciences Inc.) (US)
Merck KGaA (Germany)
Novo Nordisk AS (Denmark)
ProSpec-Tany TechnoGene Ltd. (Israel)
Sanofi SA (France)
Thermo Fisher Scientific Inc. (US)
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