Market Research Future (MRFR) has published a cooked research report on the “Recombinant Proteins Market” that contains information from 2019 to 2032. The Recombinant Proteins Market is estimated to register a CAGR of 8.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Recombinant Proteins Market— Abbvie Inc., Amgen Inc., Bio-Rad Laboratories Inc., Eli Lilly and Company, Merck KGaA, Novo Nordisk AS, Sanofi SA, Thermo Fisher Scientific Inc., Novartis AG, GlaxoSmithKline PLC.
Market Highlights
The global Recombinant Protein market is accounted to register a CAGR of 8.00% during the forecast period and is estimated to reach USD 5.49 billion by 2032.
Factors propelling the growth of the market include heightened spending on research and development, escalating rates of chronic diseases, a growing elderly population, increasing interest in biologics and biosimilars and the introduction of advanced recombinant products.
Segment Analysis
The global recombinant proteins market has been segmented into product and application.
Based on the Product, the market is segmented into Hormones, Growth Factors, Antibody, Enzymes and Other Types of Products. The antibody segment was attributed to holding the largest market share in 2023. The process of producing recombinant antibodies involves cloning antibody gene libraries into phage vectors and allowing these phages to infect host cell lines. Subsequently, daughter phages expressing the recombinant antibodies on their surfaces are produced by the host cells. Following the selection of antibodies with desired characteristics, the genes can be inserted into an expression system, enabling the production of antibodies in large quantities. The growth of this segment is expected to be driven by factors such as the increasing incidence of leukemia, as well as ongoing research and clinical studies, over the forecast period.
Based on the Application, the Recombinant Proteins Market has been segmented into Research Applications, Therapeutic Use and Biotechnology Industry. The therapeutic use segment was expected to hold the largest market share in 2023. The increasing prevalence of diseases like metabolic disorders, cancer, genetic disorders and immune diseases is projected to drive the demand for protein-based treatments. Additionally, cancer ranks among the top causes of death worldwide and the World Health Organization (WHO) anticipates a substantial increase in cancer cases in the foreseeable future. Recombinant protein-containing products are utilized to address a range of conditions including hyperglycemia, lymphoma and inflammatory disorders. The segment is anticipated to sustain its leadership position during the forecast period due to the escalating demand for innovative therapeutic strategies, driven by the increasing incidence of diseases.
Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Recombinant Proteins Market Research Report
Regional Analysis
The global Recombinant Proteins Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. North America consists of the US and Canada. The European recombinant Proteins Market comprises of Germany, France, the UK, Italy, Spain and the rest of Europe. The Recombinant Proteins Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea and the rest of Asia-Pacific. The Rest of the World's Recombinant Proteins Market comprises of Middle East, Africa and Latin America.
The largest market share for the Recombinant Proteins Market was maintained by the North American regional sector. North America is projected to spearhead the recombinant protein market, driven by escalating investments in research, robust healthcare infrastructure and the presence of numerous prominent market participants. The surge in chronic diseases throughout the region is fostering a significant demand for recombinant protein therapies, recognized as effective solutions for treating such conditions. Statistics reveal that six out of ten Americans grapple with at least one chronic ailment, including heart disease, stroke, cancer, or diabetes. Notably, approximately 37.3 million Americans are diagnosed with diabetes, while 96 million US adults are afflicted with prediabetes.
Moreover, the Europe market accounts for the second-largest market share over the forecast period. The increasing trend of outsourcing for recombinant protein manufacturing, coupled with a growing preference for biologics and biosimilars, the high prevalence of chronic disorders and the expanding application of recombinant proteins, are poised to stimulate market expansion. According to the European Society for Medical Oncology, Europe witnessed an estimated 1,269,200 cancer-related deaths in 2022. Moreover, new cancer cases increased by 2.3% compared to 2020, reaching 2.74 million in 2022. Similarly, cancer-related deaths rose by 2.4% compared to 2020, as per the European Commission’s estimates published in the European Cancer Information System (ECIS). Recent 2022 estimates for EU Member States indicate that 31% of men and 25% of women are projected to be diagnosed with cancer before the age of 75, with 14% of men and 9% of women estimated to succumb to cancer before reaching 75 years of age. Given that recombinant proteins are extensively utilized in cancer research and diagnosis, the anticipated increase in the cancer burden is expected to fuel demand for proteins, thereby driving market growth.
The Asia-Pacific market is expected to grow at the fastest CAGR in the forecast period, driven by increasing expenditures on research and development. According to the Statistics Bureau of Japan, in 2021, Japan's total R&D spending in fiscal year (FY) 2020 amounted to 19.24 trillion yen, with research and development spending as a percentage of GDP reaching 3.59%, up 0.08 percentage points from the previous fiscal year. The escalating R&D investments, particularly in the healthcare sector, are anticipated to fuel market growth. Furthermore, the rising prevalence of chronic diseases and the growing elderly population in the region are accelerating market development. For instance, according to an article published in NLM, approximately 21% of the geriatric population in India suffers from at least one chronic illness. Chronic diseases affect 16% of the elderly in rural areas and 29% in urban areas, with diabetes and hypertension accounting for approximately 68% of all chronic diseases. These factors are expected to drive regional market expansion.
Furthermore, the rest of the world's Recombinant protein market is divided into the Middle East, Africa and Latin America. The incidence of diseases like cancer, diabetes and infectious diseases is on the rise in regions such as Latin America and the Caribbean. Projections suggest that the cancer burden in this area will surge by 67% by 2040, reaching 2.4 million new cases annually. Recombinant proteins are essential for the creation of innovative treatments and vaccines to combat these health issues, thereby fueling the demand for these proteins.
Key Findings of the Study
- The global Recombinant protein market is expected to reach USD 5.49 billion by 2032, at a CAGR of 8.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market because of the growing R&D investments and increased research and government incentives.
- Based on Product, the antibody segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.
- Abbvie Inc., Amgen Inc., Bio-Rad Laboratories Inc., Eli Lilly and Company, Merck KGaA, Novo Nordisk AS, Sanofi SA, Thermo Fisher Scientific Inc., Novartis AG, and GlaxoSmithKline PLC. are the key market players.
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Report details
| Companies Covered | 15 |
| Pages | 128 |
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