The Recombinant DNA Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Recombinant DNA Technology Global Market Report 2024, 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%. The growth in the historic period can be attributed to healthcare demands, biopharmaceutical industry growth, rising investments in r&d, emergence of personalized medicine.
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%. The growth in the forecast period can be attributed to rising chronic diseases, emerging biotech startups, increasing funding in biotech, globalization of biotech markets, consumer acceptance and education.. Major trends in the forecast period include scientific advancements, gene editing advancements, cell and gene therapies, development of rna therapeutics, therapeutic applications in rare diseases, ai and data integration.
The increasing number of chronic diseases is expected to propel the growth of the recombinant DNA technology market. Chronic diseases, which are defined as ailments that last for a year or longer, necessitate continuing medical care, restrict everyday activities, or both. Recombinant DNA technology has improved healthcare by creating biopharmaceuticals proteins used in pharmaceuticals and by replacing defective genes with healthy ones through gene therapy, aiming to cure illness. For instance, in April 2021, according to a report shared by WHO, a Switzerland-based specialized agency of the United Nations responsible for international public health, noncommunicable diseases (NCDs) accounted for 41 million annual deaths, or 71% of all deaths worldwide. Between the ages of 30 and 69, more than 15 million people per year die from an NCD; 85% of these premature deaths take place in low- and middle-income nations. Therefore, the increase in chronic diseases is driving the growth of the recombinant DNA technology market.
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The recombinant dna technology market covered in this report is segmented –
1) By Product Type: Recombinant Protein Drugs, Vaccines, Genetically Modified Crops, Expression Systems, Cell and Gene Therapy, Gene Editing
2) By Component Type: Expression System, Cloning Vector
3) By Application Type: Food And Agriculture, Health And Disease, Environment, Other Application Types
4) By End-Use Type: Biotechnology And Pharmaceutical Companies, Academic And Government Research Institutes, Other End-Use Types
Technological advancement is a key trend in the recombinant DNA technology market. Major companies operating in the recombinant DNA technology market are focused on innovative technologies to sustain their position in the market. For instance, in October 2021, Thermo Fisher Scientific, a US-based supplier of scientific instrumentation, reagents and consumables, and software services, introduced the Applied Biosystem QuantStudio Absolute Q-Digital PCR System, the first fully integrated digital PCR (dPCR) equipment made to deliver extremely precise and reliable findings in genetic analysis and research in less than 90 minutes. The QuantStudio Absolute Q System uses microfluidic array technology and streamlined processes instead of the complicated, multi-instrument workflows necessary for standard dPCR, which is intended to increase data accuracy and consistency. The QuantStudio Absolute Q solution is a quick and easy workflow that provides high-quality data with the least amount of manual labour. It combines the data collection, heat cycling, and digitization processes required for dPCR into a single device.
The recombinant dna technology market report table of contents includes:
1. Executive Summary
2. Recombinant DNA Technology Market Characteristics
3. Recombinant DNA Technology Market Trends And Strategies
4. Recombinant DNA Technology Market – Macro Economic Scenario
5. Global Recombinant DNA Technology Market Size and Growth
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26. South America Recombinant DNA Technology Market
27. Brazil Recombinant DNA Technology Market
28. Middle East Recombinant DNA Technology Market
29. Africa Recombinant DNA Technology Market
30. Recombinant DNA Technology Market Competitive Landscape And Company Profiles
Top Major Players:
- Profacgen BioTech Corp
- Amgen Inc
- Novartis International AG
- GenScript Biotech Corporation
- Pfizer Inc
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