May 22, 2024
Recombinant DNA Technology Market

Recombinant DNA Technology is Expected to be Flourished by Advent of Gene Therapy Applications

Recombinant DNA technology involves the insertion of a foreign DNA into a host organism allowing it to produce new substances. It is used in gene therapy, diagnostics, and production of therapeutic proteins. In gene therapy, DNA is inserted into patients’ cells to replace defective genes responsible for genetic disorders like cancer, cystic fibrosis, and hemophilia. Recombinant vaccines against Hepatitis B have been approved for use in humans using this technique. Other applications include insulin production for diabetes treatment using E. coli bacteria genetically modified to express human insulin gene. Monoclonal antibodies for conditions such as rheumatoid arthritis are also produced through recombinant techniques.

The global Recombinant DNA Technology Market is estimated to be valued at US$ 156.89 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030,as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The advent of gene therapy applications is expected to drive the growth of the recombinant DNA technology market over the forecast period. Gene therapy holds promise to treat many incurable genetic disorders by correcting defective genes or by inserting new genes. More than 2000 gene therapy clinical trials have been conducted worldwide for diseases such as cancer, diabetes, hemophilia, and neurological conditions. Growing pipeline of gene therapy products will boost the demand for DNA recombination techniques.

Moreover, the increasing approval and commercialization of gene therapy products will boost the recombinant DNA technology market growth. In 2017, the first gene therapy product Luxturna was approved in the US and Europe for treatment of retinal disease. Other gene therapies such as Zolgensma and Kymriah have also received regulatory approval, demonstrating the clinical benefits of this new class of treatment. Launch of commercial gene therapies will augment the market by increasing the consumption of recombinant DNA techniques for their manufacturing.

Segment Analysis

The global Recombinant DNA Technology Market is dominated by the Protein/Antibodies sub segment. This is because Recombinant DNA technology is largely used to produce therapeutic protein and antibodies which have wide applications across various disease treatment segments like oncology, metabolic disorders etc. The Protein/Antibodies sub segment accounted for over 45% of the market share in 2024 owing to increasing research activities to develop novel biologics for treating complex diseases like cancer.

PEST Analysis

Political: Governments across regions are supporting research in biologics development through initiatives and funding. Stringent guidelines are in place for ensuring product safety.

Economic: Rising healthcare expenditure coupled with increasing demand for biologics is fueling market growth. However, high R&D costs required for product development poses challenge.

Social: Growing awareness about benefits of biologics in treating previously incurable diseases is increasing product acceptance. However, high treatment costs remain a concern.

Technological: Advancements in gene synthesis, cell line engineering and bioprocess technologies have enhanced product yield and development capabilities. Continued focus on developing affordable production platforms.

Key Takeaways

The Global Recombinant DNA Technology Market Growth is expected to witness high over the forecast period of 2023 to 2030 supported by rising demand for biologics across application areas. 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 6.1% over the forecast period 2023 to 2030.

Regional analysis: North America presently accounts for over 40% of the global market share owing to presence of major players and advanced research infrastructure in the region. The Asia Pacific market is expected to witness fastest growth during the forecast period supported by improving healthcare facilities, increasing disease burden and focus of key players to tap opportunities in emerging markets of the region.

Key players: Key players operating in the Recombinant DNA Technology market are Fineheart and Berlin.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it