Revenues From The Global Recombinant Protein Market Will Reach Nearly US$ 460 Million By 2022-End
A new report published by Fact.MR estimates the global recombinant protein market to witness expansion at a moderate CAGR during the forecast period 2017 to 2022. Revenues from the global recombinant protein market will reach nearly US$ 460 Mn by 2022-end.
Through genetic engineering, and cell engineering, recombinant protein are produced from creature body. The recombinant protein technology now stands at the edge of biotechnology production. Becoming the new standard, this technology is witnessing a gradual shift from bulk production procedure towards post-production techniques, which in turn promises an enhanced delivery and stability.
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The highly effective recombinant proteins play an integral part in treating specific diseases, such as hemophilia. However, blood coagulation factor is excluded, as it possesses an extremely limited source. A large number of recombinant protein drugs utilized are human proteins. This is mainly to compensate functional proteins in vivo defects, and for increasing the functions of proteins in a body. These factors provide recombinant proteins with substantially higher safety as compared to small molecules, further leading towards higher approval rates.
The clinical trial periods for recombinant proteins are comparatively shorter than small molecule drugs, which further aids in enhancing patient protection, and renders pharmaceutical companies with a relatively longer exclusive sales time. Factors such as these are driving the development, and demand for recombinant proteins. Recombinant proteins target diseases such as cardiovascular diseases, endocrine diseases, viral diseases, and cancer. In addition, the global recombinant protein market has a larger extension space, with few approval drugs available without any alternative products in therapeutic areas. These factors might influence growth of the market over the forecast period. However, factors such as technical barriers, financial barriers have made recombinant protein technology expensive. Moreover, replication of recombinant proteins incurs many challenges, as compared to replication of small molecule chemicals. These factors may impede growth of the market in the near future.
10 Key Estimations on Future of Global Recombinant Protein Market
- Basic research will remain the largest application segment in the global recombinant proteins market. Revenues from basic research will reach roughly US$ 270 Mn in revenues by the end of 2022.
- Toxicity screening, and drug discovery & development will witness the fastest expansion through 2022, based on application of recombinant proteins.
- Recombinant protein sales for forensic testing application will exhibit the lowest CAGR in the market through 2022.
- North America is projected to remain dominant in the global market for recombinant proteins, with sales poised to account for approximately US$ 150 Mn revenues by 2022-end.
- Europe will continue to be the second largest market for recombinant proteins over the forecast period.
- The market for recombinant protein in Middle East & Africa (MEA) will exhibit a sluggish expansion through 2022.
- Academic & research institutes will remain the most lucrative end-users in the global recombinant proteins market, accounting for more than one-third revenue share of the market throughout the forecast period.
- Biopharmaceutical companies will continue to be the fastest expanding end-users of recombinant proteins in the global market.
- Although growth factors are estimated to remain the largest product segment, sales of chemokines will register the fastest expansion through 2022.
- Key players identified in the global recombinant protein market include Thermo Fisher Scientific, Inc., Sigma Aldrich, Merck Millipore Limited, GenScript Corporation, Crown Bioscience, Inc., PerkinElmer, Inc., BPS Bioscience Inc., Bio-Rad Laboratories, Inc., A.M.S. Biotechnology (Europe) Limited, and Abcam plc.