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Recombinant Proteins Market Worth $3.2 Billion | MarketsandMarkets™. | ||||||||||||||||||||||||||||
By: PR Newswire Association LLC. - 05 Feb 2024 | Back to overview list |
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CHICAGO, Feb. 5, 2024 /PRNewswire/ -- Recombinant Proteins Market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $3.2 billion by 2028, growing at a CAGR of 7.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The global recombinant proteins market is expected to grow at a CAGR of 7.2% during the forecast period. The growth of the market is projected to be driven by factors such as rising incidence of chronic diseases, increasing demand for biologics and biosimilars due to patent expirations, increasing government support for R&D and growing preference for personalized medicine. Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=70095015 Browse in-depth TOC on "Recombinant Proteins Market" 432 - Tables Recombinant Proteins Market Scope:
The growth factors and chemokines segment is expected to have the dominant share of the recombinant proteins market in 2023. Based on product, the global recombinant proteins market is segmented into growth factors and chemokines, immune response proteins, structural proteins, membrane proteins, kinase proteins, regulatory proteins, recombinant metabolic enzymes, adhesion molecules and receptors, and other recombinant proteins. The growth factors and chemokines segment is segmented into interferons & interleukins. In 2023, the growth factors and chemokines segment held the largest share of the recombinant proteins market. The largest segment is due to their utilization in a range of research domains like neurobiology, wound healing, immunology, transplantation, apoptosis, cancer, HIV/AIDS, COVID-19, cell culture, and stem cell research. The drug discovery & development segment accounted for the largest share of the application segment in the recombinant proteins market in 2023. Based on application, the recombinant proteins market is segmented into drug discovery & development, biopharmaceutical production, research, diagnostics, and other applications. The drug discovery & development segment is segmented into biologics, vaccines and cell & gene therapy. The research segment is further segmented into academic research and biotechnology research. The drug discovery & development segment is anticipated to grow at significant CAGR during the forecast period owing to application of recombinant proteins in developing novel compounds that impact the function of disease-associated proteins or their interactions and the increasing focus on research and development in this field emphasizes the importance of these elements. In 2022, the bacterial cells segment accounted for the largest share of the recombinant proteins market. Based on host cell, the global recombinant proteins market is segmented into mammalian systems, insect cells, yeast & fungi, bacterial cells and other host cell. In 2022, the bacterial cells segment accounted for the largest share of the recombinant proteins market owing to factors such as distinctive genetic characteristics, ease of manipulation, and cost-effectiveness when compared to other systems. The Asia Pacific region is the fastest-growing region of the recombinant proteins market in 2023. The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the recombinant proteins markets in the region is driven by the rising investment by pharmaceutical & biotechnology companies, increasing awareness regarding personalized therapeutics and favourable government policies in Asian countries are pivotal drivers fostering growth in this regional market. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=70095015 Recombinant Proteins Market Dynamics: Drivers:
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Key Market Players of Recombinant Proteins Industry: The recombinant proteins market is competitive, with a small number of players competing for market shares. Bio-Techne (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Abcam plc (UK), Abnova Corporation (Taiwan), Biolegend Inc (US), Bio-Rad Laboratories, Inc. (US), BPS Bioscience, Inc. (US), Enzo Biochem, Inc. (US), GenScript (China), Miltenyi Biotec B.V. & Co. KG (Germany), Proteintech Group, Inc. (US), Sino Biological Inc. (China), Acrobiosystems Group (US) and Aviva Systems Biology Corporation (US) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, and agreements, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market. The primary interviews conducted for this report can be categorized as follows:
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=70095015 Recombinant Proteins Market - Key Benefits of Buying the Report: The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall recombinant proteins market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges. The report provides insights on the following pointers:
Related Reports: Research Antibodies & Reagents Market - Global Forecasts to 2028 Biosimilars Market - Global Forecasts to 2028 Proteomics Market - Global Forecasts to 2028 Protein Expression Market - Global Forecasts to 2027 Protein Characterization and Identification Market - Global Forecasts to 2026 About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/recombinant-proteins-market-worth-3-2-billion--marketsandmarkets-302052976.html |
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