Recombinant Proteins Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Global Recombinant Proteins Market: Overview
Rising incidences of chronic diseases, innovative recombinant products, augmented spending on research and development activities, and a growing preference for biosimilars and biologics are all contributing toward the expansion of the global recombinant protein market. Novel therapies for the purpose of treatment of serious chronic diseases such as cancer and other rare diseases are being developed utilizing recombinant proteins. The processing of recombinant proteins necessitates the use of a technique known as recombinant DNA (rDNA) technology. Proteins have been continuously developed as a crucial therapeutic choice in an extensive variety of human diseases as a result of various advancements made in the field of pharmaceutical processing and pharmacological understanding. Crohn's disease, rheumatoid arthritis, diabetes, anemia, dwarfism, and multiple sclerosis and many other diseases are treated with recombinant proteins.
On an average, across 27 OECD countries, nearly one-third of individuals aged 15 years and above reported suffering from two or more chronic diseases, including chronic respiratory problems, heart attack, stroke, diabetes, and cancer. This is according to the OECD's Health at a Glance, 2019 study. These chronic diseases are estimated to affect about one in every two people in Finland and Germany. Such high prevalence of chronic diseases are estimated to pave way for rapid growth of the global recombinant protein market in the years to come.
This study titled “global recombinant proteins market” comes with key market segments, namely product, application, end user, and regional markets. It also comes with an addition of evaluation of the prevailing competition in the global recombinant proteins market over the assessment timeline, from 2020 to 2030.
Global Recombinant Proteins Market: Key Trends
Due to approval cycles and long development times, the research and development sector has traditionally been capital-intensive. Research and development expenditures are a key element in global healthcare expenditure. Governments accept research and development as a critical component of a country's public benefit, international competitiveness, and growth. As a result, research and development spending and funding have steadily increased over time, which is estimated to augur well for the global recombinant proteins market in the near future.
In addition to that, there has been a strong emphasis on the advancement of recombinant protein-based therapies and vaccines for the treatment of Covid 19, which has been identified as a major burden on the global healthcare economy. For example, the Coalition for Epidemic Preparedness Innovations (CEPI) awarded Novavax, Inc US$ 4 Mn in October 2020 so as to accelerate the production of a Covid 19 vaccine based on its patented recombinant protein nanoparticle technology model.
However, since recombinant protein processing is basically a time-consuming process that also requires a high level of maintenance and cost, as well as safety and regulatory issues, the demand is expected to slow down during the projected timeline.
Global Recombinant Proteins Market: Competitive Assessment
In the global recombinant proteins market, top players are expected to compete aggressively. In this market, there are only a handful of renowned companies. China-based Elpiscience BioPharma and US-based Bio-Techne Corporation (US) entered into a partnership in 2020. Post partnership, Elpiscience is likely to gain access to Bio-vast Techne's product range of antibodies for utilization in the production of industrial, clinical, and preclinical biopharmaceuticals as part of this partnership, which seeks to develop anticancer therapeutics.
Some of the well-known players in the global recombinant proteins market are listed below:
Global Recombinant Proteins Market: Regional Assessment
Because of rising research expenditures, as well as the presence of advanced healthcare infrastructure and many major market players, North America is expected to lead the global recombinant protein market over the analysis timeline, from 2020 to 2030.
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