Recombinant Dna technology involves the isolation, modification and insertion of desired genes from one organism into a DNA molecule of another, usually unrelated, organism. This new recombinant DNA is then inserted into host cells that are cultured in bioreactors and allowed to express the introduced genetic material. Recombinant proteins produced this way are identical to their native counterparts and are useful for therapeutic applications like treatment of cancers, diabetes, hemophilia etc. The technology allows large-scale production of important biologics with consistent quality.
The global recombinant Dna Technology Market is estimated to be valued at US$ 156.89 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the recombinant DNA technology market is the growing focus on advanced biologics and targeted drug delivery. Many drug makers are developing advanced versions of existing biologics with improved efficacy, longer shelf life and more targeted delivery. Monoclonal antibodies are a prime example with several recombinant mAbs in the market for cancer and immunological disorders. Fusion proteins and other complex molecular entities created through genetic engineering are addressing previously untreatable diseases. Another trend is the falling costs of DNA sequencing and synthesis that has made genetic engineering more accessible for R&D in Academia as well as SMBs worldwide.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the recombinant dna technology market is moderately low due to high initial investments required for R&D and presence of established players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to presence of alternative treatment options. However, increasing prevalence of chronic diseases enhances the demand.
Bargaining power of suppliers: The bargaining power of suppliers is moderate owing to availability of alternative raw material suppliers and commoditization of inputs.
Threat of new substitutes: The threat of new substitutes is low as recombinant dna technology is unique and has no close substitute. However, alternative treatment options limit the threat.
Competitive rivalry: The competitive rivalry in the market is high due to presence of major players investing in R&D.
Key Takeaways
The global Recombinant Dna Technology Market Share is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing prevalence of chronic diseases. North America dominated the market with over 35% share in 2023 owing to presence of major players and availability of advanced healthcare facilities in the region.
The recombinant dna technology market in Asia Pacific is anticipated to witness fastest growth during the forecast period attributed to rising geriatric population, increasing healthcare spending, and growing awareness.
Key players operating in the recombinant dna technology market include Pfizer, Sanofi, New England Biolabs, GlaxoSmithKline plc, GenScript, Thermo Fisher Scientific, Inc., Biogen, Inc., Merck & Co., Inc., Profacgen, Amgen, Inc., and Monsanto Company. Major players are focusing on R&D activities to develop innovative products and expand their market presence.
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Recombinant DNA Technology Market Research Report: By Product (Medical, Non-Medical), Component (Expression System, Cloning Vector), Application (Food & Agriculture, Health & Disease), End-User (Biotechnology Companies, Pharmaceuticals) – Forecast to 2027Recombinant DNA technology articulates DNA molecules from two different species that are introduced into the host organism to produce a new genetic combination with broad application.
Market Research Future reported that the global recombinant DNA technology market is expected to attain a CAGR of 6.9% during the forecast 2017-2023.Recombinant DNA technology has many applications in agriculture; to produce Bat cotton that protects the plants against pests.
It is widely used in drug production, gene therapy, and clinical diagnosis.Growing demand for recombinant and genetically modified products for human health, nutrition and agriculture is expected to stimulate growth in the global recombinant DNA technology market over the forecast period.
Manufacturing companies that focus on product development using recombinant DNA technology for a variety of chronic diseases should accelerate market growth over the forecast period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/5845 Regional AnalysisThe Americas has the largest share in the global recombinant DNA technology market due to the effective regulation of the registration of recombinant therapeutic products and other genetically modified (GM) products.
Presence of some leading key players operating in this sector contributes to the growth of the recombinant DNA technology market in the region.In addition, there is a growing need to improve recombinant protein production capacity several times in Europe.
Raising awareness about the growth of genetic diseases and disorders, developing health infrastructure, increasing healthcare spending, strengthening government initiatives to improve public health, and progress in the medical field stimulates market growth.The Middle East and Africa are is said to witness limited growth due to declining demand for genetic testing.
The market is proposed to expand at a CAGR of approximately 6.9 percent over the forecast period.Get Free Sample Copy of "COVID-19 Pandemic Impact on Yeast Infections Market Analysis @ https://www.marketresearchfuture.com/sample_request/5845 As the domain of genetics had been relatively unchartered due to lack of proper expertise and technology, the presence of these factors in abundance currently is fostering optimistic market growth.
Rising focus on function, gene structure, expression pattern, and regulation are forecasted to add to the market expansion over the forecast period beneficially.Regional AnalysisThe Americas has the largest share in the global recombinant DNA technology market due to the effective regulation of the registration of recombinant therapeutic products and other genetically modified (GM) products.
Presence of some leading key players operating in this sector contributes to the growth of the recombinant DNA technology market in the region.In addition, there is a growing need to improve recombinant protein production capacity several times in Europe.
Raising awareness about the growth of genetic diseases and disorders, developing health infrastructure, increasing healthcare spending, strengthening government initiatives to improve public health, and progress in the medical field stimulates market growth.The Middle East and Africa are is said to witness limited growth due to declining demand for genetic testing.
The Middle East is experiencing significant growth compared to the African recombinant DNA technology market due to growing population, innovations in genetic testing and the growing number of chronic disease casesSegmentsThe report is segmented into five market dynamics to widen the scope of understanding,By Product : Medical (therapeutic agents, human proteins, and vaccines) and Non-Medical (biotech crops, specialty chemicals, others).By Component : Expression System and Cloning Vector, among others.By Application : Food & Agriculture and Health & Disease, among others.By End-user : Biotechnology Companies, Academic & Government Research Institutes, and Pharmaceuticals, among others.By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).Competitive Analysis The fundamental success factors and players’ inclinations are gradually improving by the strategies being used by market players.
The key players in the market are Profacgen (U.S.), Amgen Inc. (U.S.), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Pfizer Inc. (U.S.), Genscript Biotech (U.S.), Eli Lilly and Company (U.S.), Merck & Co., Inc. (U.S.), Boehringer Ingelheim (Germany), Biogen Inc. (U.S.), New England Biolabs (U.S.), Sanofi S.A. (France), Biocon Limited (India), GlaxoSmithKline plc (UK), Cibus (U.S.), Monsanto Company (U.S.) and others.TABLE OF CONTENT Chapter 1.
