by Recombinant Dna technology involves insertion of a foreign gene into a host organism to produce multiple copies of a useful protein. It is widely used in pharmaceuticals, research & development, and agriculture. In pharmaceuticals, recombinant proteins are used to produce insulin, vaccines, and monoclonal antibodies. Recombinant Dna technology has enabled mass production of therapeutically important biological products.
The global recombinant Dna Technology Market is estimated to be valued at US$ 156.89 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The recombinant Dna technology market is primarily driven by wide application scope across industries such as pharmaceuticals, biotechnology, agriculture and others. According to estimates, over 30 recombinant therapeutic products are approved for clinical use by regulatory agencies across the globe. Growing demand for biologics and recombinant proteins from pharmaceutical companies will aid the market growth over the forecast period. Additionally, technological advancements in genetic engineering techniques such as gene therapy and gene editing will provide lucrative opportunities to market players. However, stringent regulatory policies related to genetically modified organisms and public debate on biosafety issues may hamper the market growth.
SWOT Analysis
Strength: Recombinant DNA technology offers high accuracy and reliability in gene modifications. It allows targeted gene manipulation which provides precise genetic changes. It helps produce human insulin and many other therapeutics in large quantities through microbial fermentation thereby meeting growing patient demand.
Weakness: Producing genes artificially may have unintended health effects which needs further research. Ethical concerns persist around human germline gene editing which alters genes that can be passed to offspring.
Opportunity: Rising prevalence of genetic disorders, cancer and infectious diseases drives the need for advanced treatment options. Personalized medicine enabled by recombinant DNA presents lucrative opportunities. Growing biopharma industry investments in R&D are helping expand therapeutic applications.
Threats: Stringent regulatory approvals pose delays in product launches. Substantial upfront capital investments and long development timelines threaten business case feasibility. Dependence on government initiatives and funding poses uncertainties. Emergence of alternative gene therapies threatens market share.
Key Takeaways
The global Recombinant Dna Technology Market Share is expected to witness high growth, exhibiting a CAGR of 7.9% over the forecast period, due to increasing prevalence of chronic diseases. The market size is estimated to reach US$ 156.89 Mn in 2023.
Regional analysis The North American region currently dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to growing biopharma industry, favorable regulatory environment supporting clinical research, availability of advanced healthcare facilities and substantial private and public investments in R&D.
Key players Pfizer, Sanofi, New England Biolabs, GlaxoSmithKline plc, GenScript, Thermo Fisher Scientific, Inc., Biogen, Inc., Merck & Co., Inc., Profacgen, Amgen, Inc., Monsanto Company are some of the prominent players operating in the recombinant DNA technology market. Key players are focusing on expanding their product portfolios and geographic footprint through mergers, acquisitions and collaborations to strengthen market presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
