Global Recombinant DNA Technology Market Share, Size, Trends, Growth, Report and Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Recombinant DNA Technology Market Price, Share, Size, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global recombinant DNA technology market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast Historical Market Size (2020): USD 608 billion
- Forecast CAGR (2023-2028): 6.8%
Rising research and development activities to cure or alleviate diseases such as cancer and other immunodeficiency ailments are driving the market for recombinant DNA technology. The success rate of genetically engineered human insulin in the treatment of diabetes has spurred the development of several other drugs, which is also fueling the market growth.
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The use of recombinant DNA technology to produce high-quality genetically modified crops is also boosting the market growth. The application of recombinant DNA technology in farming activities has resulted in more cost-effective production, boosting the market growth. In addition to growing adoption in downstream industries, recombinant DNA technology has no negative impact on the environment or human health, which is boosting the market growth.
Recombinant DNA Technology Industry Definition and Major Segments
The cost of designing and modifying DNA sequences in a specific order is known as recombinant DNA technology. Modifying the genetic material outside of an organism to achieve enhanced and desired features in living creatures or as their products is referred to as recombinant DNA technology.
This technology entails inserting DNA fragments from a variety of sources into an appropriate vector with the desired gene sequence. Recombinant DNA is largely used in medicinal, agricultural, and industrial purposes, among others.
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By technology, the market is divided into:
- Therapeutic Agent
- Human Protein
- Biotech Crops
- Specialty Chemicals
By Component, the industry is categorized into:
- Expression System
- Cloning Vector
By Application, the industry is categorized into:
- Food and Agriculture
- Health and Disease
By End User, the industry is categorized into:
- Biotechnology and Pharmaceutical Companies
- Academic and Government Research Institutes
By region, the industry is categorized into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Recombinant DNA Technology Market Trends
RDT (recombinant DNA technology) is critical for improving the quality of care, particularly through the development of new vaccines and pharmaceuticals. This, together with the advancement of treatment as a result of technological advancement of diagnostic kits, monitoring devices, and new therapeutic approaches, is one of the primary drivers of market growth. Furthermore, research on genetically modified organisms (GMOs), which include microorganisms that are considered biodegraders and clean fuel generators, is on the increase.
Recombinant DNA technology enables the development of a wide range of therapeutic products with immediate benefits in medical genetics and biomedicine, its use is growing in a number of different industries. For example, in the coming years, the integration of recombinant DNA technology with effective gene therapy for replacing defective genes with normal ones, as well as the production of antigen-specific antibodies for clinical research, studies, and disease diagnosis, are expected to drive market growth. The global market was dominated by North America.
This is due to the presence of a large number of key players in the United States. The high number of clinical trials in this region can be attributed to the availability of advanced technology and the existence of research institutes working towards the development of innovative treatments.
Due to the increase of infrastructure and facilities to expedite recombinant DNA technology research in the region’s growing economies, Asia Pacific is expected to have the highest CAGR during the projected period. The Chinese government has approved many research projects involving human embryonic stem cells, encouraging scientists to investigate the recombinant DNA technology’s potential. These factors are expected to boost the market during the forecast period as well.
Key Market Players
The major players in the market are Sanofi, Amgen Inc., Genentech Inc., GenScript, Profacgen, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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