The global Recombinant Protein Market is estimated to be valued at US$ 3131.37 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Recombinant proteins are proteins expressed using genetically engineered cell culture techniques to produce proteins that can be used as biologics, enzyme replacements, or for biopharmaceutical drug production. They are used across various industries including pharmaceuticals, research, biotechnology and agriculture. The increasing use of recombinant proteins in biopharmaceuticals development and as innovative therapeutics is driving the market growth. Market Overview: Recombinant proteins have applications in life science research, diagnostics and therapeutic development. They serve as customizable biologic tools and drug products owing to their high purity, consistency and accuracy of function. Market key trends: The rising prevalence of chronic diseases globally is one of the major factors responsible for escalating demand for therapeutic recombinant proteins. According to statistics by WHO, chronic diseases accounted for approximately 60% of total reported deaths in the world in 2020. Furthermore, growing older adult population base susceptible to age-related health conditions is another driver boosting the recombinant protein market growth. Advancements in genetic engineering techniques have enabled the development of complex human therapeutic recombinant proteins at lower costs to treat a variety of diseases. This has expanded applications of recombinant proteins significantly. Segment Analysis Content: The recombinant protein market is segmented by type into insulin, rheumatoid arthritis, erythropoietin, interferons, colony stimulating factors, growth hormones, coagulation factors and others. Among these, the insulin segment accounted for the largest market share in 2022 owing to the high prevalence of diabetes as insulin is the primary treatment for diabetes management. The interferons segment is expected to witness fastest growth over the forecast period owing to increasing adoption of interferons in management of hepatitis and cancer. Key Takeaways The global Recombinant Protein Market Share is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing prevalence of chronic diseases like diabetes, cancer and autoimmune disorders and rising adoption of recombinant proteins in treatment of these diseases. Regional analysis North America dominated the global recombinant protein market in 2022 and is expected to remain the largest market during the forecast period. This is attributed to factors such as increasing healthcare expenditure, rising incidence of chronic diseases and presence of key players in the region. The Asia Pacific region is poised to witness the fastest growth rate over the forecast period owing to improving healthcare infrastructure, rising healthcare spending and growing demand for biologics and biosimilars in populous countries like China and India. Key players operating in the recombinant protein market are Merck KGaA, OriGene Technologies, Inc., Thermo Fisher Scientific Inc., Feldan Therapeutics, ACROBiosystems, Abcam plc., Randox Laboratories Ltd., SOL GROUP, Proteintech Group, Inc, Planet Biotechnology, Inc., INFINITE ENZYMES, INC., ORF Genetics, GenScript, BTL Biotechno Labs Pvt Ltd., Prospec-Tany Technogene Ltd., BPS Bioscience, Inc., Sino Biological, Cape Bio Pharms, Abnova Corporation, GeNext Genomics. The major players are focusing on new product launches and acquisitions to strengthen their market position. Read More, https://www.insightprobing.com/recombinant-protein-market-trends-size-and-share-analysis/
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