PUBLISHER: The Business Research Company | PRODUCT CODE: 1425768
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425768
Recombinant DNA Technology Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on recombinant dna technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for recombinant dna technology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The recombinant dna technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Recombinant DNA technology denotes the fusion of DNA molecules from diverse organisms, integrating them into a host organism to create new genetic combinations beneficial across scientific, medical, agricultural, and industrial domains. This technology plays a pivotal role in addressing health concerns by facilitating the development of novel medications and vaccines.
Within the realm of recombinant DNA technology, key product categories encompass recombinant protein drugs, vaccines, genetically modified crops, expression systems, cell and gene therapy, and gene editing. Notably, recombinant protein drugs serve crucial roles in biochemical analysis and medical diagnostics within human healthcare, including the production of antibodies, medicines, and vaccines. Renowned for their potency and rapid development compared to small molecules, these drugs are considered safer due to their reduced off-target adverse effects. This category comprises components like expression systems and cloning vectors. The extensive applications of recombinant DNA technology span various sectors such as food and agriculture, health and disease management, environmental interventions, and other diverse areas. This technology finds practical usage in biotechnology and pharmaceutical companies, academic and government research institutions, and various other end-use industries. Its impact is notably significant across a wide spectrum of fields and industries.
The recombinant DNA technology market research report is one of a series of new reports from The Business Research Company that provides recombinant DNA technology market statistics, including recombinant DNA technology industry global market size, regional shares, competitors with an recombinant DNA technology market share, detailed recombinant DNA technology market segments, market trends and opportunities, and any further data you may need to thrive in the recombinant DNA technology industry. This recombinant DNA technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The recombinant dna technology market size has grown strongly in recent years. It will grow from $816.9 billion in 2023 to $882.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. Historical growth can be credited to the escalating demands within the healthcare sector, the expansive growth of the biopharmaceutical industry, increased investments in research and development (R&D), and the emergence and adoption of personalized medicine. These factors collectively fueled growth during the historical period.
The recombinant dna technology market size is expected to see strong growth in the next few years. It will grow to $1214.85 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. Anticipated growth in the forecasted period is expected due to the upsurge in chronic diseases, the emergence of biotech startups, augmented funding within the biotech sector, the globalization of biotech markets, and increased consumer acceptance and education. These elements are projected to drive growth during the forecasted period.
The growth trajectory in the recombinant DNA technology market is primarily being steered by the escalating prevalence of chronic diseases. These enduring ailments, lasting a year or more and demanding ongoing medical attention, have spurred the adoption of recombinant DNA technology. Through the development of biopharmaceutical proteins and the advancement of gene therapy, this technology aims to combat these diseases. For instance, data shared by the World Health Organization (WHO) in April 2021 highlighted that noncommunicable diseases (NCDs) accounted for 71% of global deaths, with over 15 million yearly fatalities occurring between ages 30 and 69, mainly in low- and middle-income nations. This surge in chronic diseases is significantly propelling the growth of the recombinant DNA technology market.
Another substantial driver propelling the recombinant DNA technology market is the increasing advancement in genetically modified crops. Genetically modified (GM) crops, altered intentionally through biotechnological techniques, employ recombinant DNA (rDNA) technology to enhance their traits. This process involves isolating genes with desired characteristics, integrating recombinant DNA into crop cells, and rigorously testing and commercializing these crops. Notably, as per the United States Department of Agriculture's data in October 2023, a considerable percentage of soybean, corn, and cotton acreage in the US utilized genetically modified seeds, underscoring the pronounced growth in genetically modified crops, thereby driving the recombinant DNA technology market forward.
Technological advancement remains a pivotal trend in the recombinant DNA technology market, with leading companies focusing on innovative solutions to maintain their market position. For instance, in October 2021, Thermo Fisher Scientific introduced the Applied Biosystem QuantStudio Absolute Q-Digital PCR System. This pioneering technology streamlines digital PCR processes, ensuring highly precise genetic analysis within 90 minutes. The system's microfluidic array technology simplifies complex workflows, enhancing data accuracy while minimizing manual labor. Such advancements in technology are instrumental in shaping and driving the recombinant DNA technology market.
Moreover, major players within the recombinant DNA technology sector are actively engaged in developing new vaccines to sustain their market presence. For instance, Variation Biotechnologies Inc. launched PreHevbrio™ [Hepatitis B Vaccine (Recombinant)] in March 2022 in the United States. This vaccine, approved by the FDA in November 2021, incorporates essential hepatitis B surface antigens, ensuring a robust immune response when administered in a 3-dose series. The development and launch of such vaccines represent a significant stride within the recombinant DNA technology market.
In January 2022, Thermo Fisher Scientific, a prominent supplier based in the US specializing in scientific instrumentation, reagents, consumables, and software services, finalized the acquisition of PeproTech for a sum of $1.85 billion. This strategic acquisition aimed to complement Thermo Fisher's existing line of cell culture media products by integrating PeproTech's extensive portfolio of recombinant proteins. By combining these offerings, Thermo Fisher sought to deliver enhanced advantages to its customers through an integrated solution. PeproTech, Inc., the acquired company, is recognized for its expertise as a US-based developer and manufacturer of bioscience reagents, particularly renowned for its recombinant proteins.
Major companies operating in the recombinant dna technology market report are Profacgen BioTech Corp., Amgen Inc., Novartis International AG, GenScript Biotech Corporation, Pfizer Inc., Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Merck & Co. Inc., Biogen Inc., GlaxoSmithKline PLC, New England Biolabs Inc., Bayer CropScience, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals Inc., Gilead Sciences Inc., Moderna Inc., Vertex Pharmaceuticals Incorporated, CRISPR Therapeutics AG, Editas Medicine Inc., bluebird bio Inc., Illumina Inc., Qiagen N.V., Lonza Group AG, Bio-Rad Laboratories Inc., Agilent Technologies Inc., Becton Dickinson and Company, Sartorius AG, Abcam PLC, Horizon Discovery Group PLC, Integrated DNA Technologies Inc., Twist Bioscience Corporation, Synthego Corporation, Codex DNA Inc., InvivoGen, Eurofins Scientific SE, Sarepta Therapeutics Inc., Sangamo Therapeutics Inc.
North America was the largest region in the recombinant DNA technology market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recombinant dna technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the recombinant dna technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The recombinant DNA technology market includes revenues earned by entities by expression systems including mammalian, bacteria, yeast, and baculovirus / insect. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.