Recombinant DNA Technology Market

Market Synopsis:

The Global Recombinant DNA Technology Market was valued USD 152.79 Billion in 2022 and is anticipated to reach a value of USD 274.52 Billion by 2030. In the forecast period, the Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.60%.

Recombinant DNA Technology has changed biological research and opened new avenues for invention. It is also referred to as genetic engineering. It is currently a popular method for modifying genetic material outside of an organism to produce better and more desirable traits in living things. It involves inserting DNA fragments with desirable gene sequences from various sources into the suitable vector. Additionally, it helps in the safe, economical, and sufficient manufacturing of essential proteins needed for nutrition and health problem prevention. As a result, it has cross-disciplinary applications and extraordinary potential to enhance food resources, improve health, and increase resilience to various adverse environmental effects. Recombinant DNA Technology is used to create novel medications and vaccines to improve multiple health concerns. This factor is one of the main driving forces behind the market's expansion, along with the improving treatment approaches brought on by developing diagnostics kits, monitoring equipment, and new therapeutic approaches.

Additionally, research on genetically modified organisms (GMOs), which include microorganisms that are regarded as bio degraders and manufacturers of clean fuel, is increasing. This factor can be attributed to quick urbanization, expanding world population, shrinking arable land, severe mounting food shortages, and growing use of GMO crops. Additionally, Recombinant DNA Technology is increasing in various fields since it presents numerous prospects for innovation in developing a broad range of therapeutic products with immediate benefits in medical genetics and biomedicine. In the coming years, it is predicted that the production of antigen-specific antibodies for clinical research, studies, and disease diagnosis, as well as the integration of Recombinant DNA Technology with efficient gene therapy for replacing defective genes with normal ones, will propel the market growth.

Market Segmentation:

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The Recombinant DNA Technology Market is segmented into Products, Components, Applications, End Users, and Region. Based on the Products, the market is further segmented into Medical and Non-Medical. Furthermore, based on the Components, the market is further bifurcated into Expression System and Cloning Vector. In addition, based on the Applications, the market is further divided into Food & Agriculture, Health & Disease, Environment, and Other Applications. Likewise, based on the End Users, the market is further divided into Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, and Other End Users.

Based on Components

The Expression System category dominated the market in 2021. In the upcoming years, the Expression System Recombinant DNA Technology market is anticipated to lead. The market is expected to expand significantly over the next few years due to increased Research and Development (R&D) efforts linked to practical protein expression. The bacterial, insect and mammalian systems have all been utilized to their full potential. There has also been a n extensive research in recent years towards using plants as an Expression System, which further bolsters the segment growth in the forecast period.

Based on Applications:

Health & Diseases category dominated the market in 2021. It is anticipated that the Health & Diseases segment will be commanding throughout the forecast period. This technology is primarily used in the production of drugs used by human beings. Recently, there is also a rising demand for technology use in treating animals. The market is anticipated to grow in the coming years because of a growing demand for numerous drugs and vaccines that help improve consumers' health.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

The Asia Pacific is forecast to grow at the highest pace; and it is estimated that it will grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The existence of low-cost manufacturing hubs in Asian economies like China has drawn substantial attention from international organizations looking to relocate their operations there. Additionally, Japan is among the top per capita importers of food and feed made with contemporary biotechnology methods. The GE crop regulation framework in Japan keeps getting better. Furthermore, Japan has no significant trade barriers preventing importing GE items from western nations. The Asia Pacific is therefore anticipated to become the region with the quickest rate of growth.

Recent Developments:

• In March 2022, PreHevbrio (Recombinant Hepatitis B Vaccine) was made available in the United States by VBI Vaccines Inc. to prevent infection by any known subtype of the hepatitis B virus (HBV) in individuals who are over the age of 18 years. With the help of US medical professionals, the vaccine's release will also increase immunization rates and safeguard patients, mainly adult patients, from HBV.
• In February 2022, the 3-antigen hepatitis B (HBV) vaccine, sold under the trade name PreHevbri, was approved by the European Medicines Agency's Committee for Medicinal Products for Human Use for active immunization against infection caused by all recognized subtypes of the hepatitis B virus in adults.

Competitive Landscape:

The key players in the Global Recombinant DNA Technology Market include- F. Hoffmann-La Roche Ltd (Genentech Inc), Profacgen, Amgen Inc, Novartis AG, GenScript, Pfizer Inc, Novo Nordisk A/S, Eli Lilly and Company, Sanofi Merck & Co. Inc., Biogen, Biocon, GlaxoSmithKline PLC, New England Biolabs, Cibus, Monsanto Company, Horizon Discovery Group PLC and others.

Segmentation of the Global Recombinant DNA Technology Market: