by Recombinant proteins play an important role in the treatment of various diseases such as cancer, diabetes, anaemia, hormonal deficiencies and other rare disorders. They help in replacing non-functional or missing proteins by acting as therapeutic agents or assisting diagnosis. Recombinant proteins are produced through gene technology by transferring genes of interest into host cells that then produce the required protein. This enables mass production of desired proteins in more purified, consistent and safer form as compared to proteins obtained from animal or human tissues. The global recombinant protein market offers products like therapeutic recombinant proteins, recombinant vaccines, insulin, antibodies, colony stimulating factors and other blood factors. The recombinant protein have advantages like high purity, stability, safety and negligible risk of contamination. The need for recombinant proteins have increased tremendously over the years due to rising prevalence of chronic diseases and increasing awareness about their benefits in pharmaceutical industries. 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 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global Recombinant Protein Market Size is the significant investment in research and development activities by key players. Pharmaceutical companies are focused on developing novel recombinant proteins for treatment of various diseases. For instance, in 2021, Boehringer Ingelheim, a German pharmaceutical company invested around $2.7 billion in research and development activities focusing on biopharmaceuticals including recombinant proteins. Companies are also investing in technologies like gene therapy using recombinant proteins which is expected to bring long term growth opportunities in the market. Other key trends include advancements in protein expression systems to maximize yield and productivity of recombinant protein production. Different host systems like E. coli, yeast, mammalian cells are being utilized for this purpose. There is also a shift towards transient gene expression methods over stable cell line development for faster production of recombinant proteins.
Porter’s Analysis
Threat of new entrants: Low entry barriers due to easy availability of raw materials and technologies however established players enjoy economies of scale and brand loyalty advantages.
Bargaining power of buyers: Moderate bargaining power due to presence of many players however new innovations result in product differentiation.
Bargaining power of suppliers: Moderate as raw material suppliers hold some bargaining power due to involvement of complex technologies in production.
Threat of new substitutes: Low threat as recombinant proteins have advantages over traditional substitutes in terms of purity, consistency and safety.
Competitive rivalry: High rivalry due to presence of many global and local players and new product innovations.
Key Takeaways
The global Recombinant Protein market is expected to witness high growth.
Regional analysis: North America dominates the global market due to strong healthcare industry and increasing funding for R&D activities in the region. Asia Pacific expected to grow at fastest pace during the forecast period with growing biosimilars industry in China and India.
Key players operating in the Recombinant Protein market are Merck KGaA, Allergan plc ( A subsidiary of AbbVie Inc.), Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer, Inc. These players are focusing on new product approvals and launches to further consolidate their market shares. For instance, in 2022 Merck KGaA received approval for its drug Keytruda® (pembrolizumab) in China for additional indications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
