Recombinant Protein Market Estimated to Witness High Growth Owing...

Recombinant Protein Market Estimated to Witness High Growth Owing to Increasing R&D Investments by Pharmaceutical Companies

Posted 2024-01-03 11:41:58

Recombinant proteins are proteins synthesized in cells by incorporating DNA the codes for human protein rather than being directly extracted from human or animal tissue. They have widespread applications in healthcare sector including development of therapeutics for conditions like cancer, anemia and growth hormone deficiency. The global recombinant protein market is dominated by insulin, erythropoietin, interferons, colony stimulating factors and vaccines. The global recombinant protein market is estimated to be valued at US$ 3131.37 Mn or Billion 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 Dynamics:
The recombinant protein market is driven by increasing research and development investments by pharmaceutical companies for development of novel therapeutic treatments. According to Coherent Market Insights analysis, global R&D spending in pharmaceuticals increased from US$ 179 billion in 2015 to US$ 211 billion in 2020 representing a CAGR of 3%. Ongoing focus on developing targeted and personalized recombinant protein-based therapeutics is also expected to support market growth over the forecast period. Moreover, increasing prevalence of chronic diseases like cancer and cardiovascular disorders will further boost demand for recombinant protein over the coming years. However, high costs associated with R&D and manufacturing of recombinant proteins may limit market growth.

SWOT Analysis
Strength: Recombinant protein technology allows production of therapeutic proteins in large quantities in a very cost effective manner. Recombinant proteins are more stable, less immunogenic and have better pharmacokinetic profiles compared to traditional proteins. Production of recombinant proteins is a highly scalable manufacturing process which ensures consistency in quality and quantity of final product.
Weakness: Production of recombinant proteins requires complex manufacturing processes and specialized facilities which require large capital investments. The technologies used for recombinant protein production are very sensitive and product quality can get affected due to any contamination in the production facility. Regulatory approval processes for recombinant protein products are lengthy and stringent which increases the development timelines and costs.
Opportunity: Increasing prevalence of chronic diseases such as cancer, diabetes etc provides significant growth opportunities for recombinant protein therapeutics. Growing elderly population boosts the demand for biologics to treat age-related conditions. Technological advancements in recombinant protein production platforms such as plant/algal/yeast based expression systems can further improve production efficiencies.
Threats: Expiry of patents of blockbuster recombinant protein drugs poses pricing pressure from biosimilars. Stringent regulatory environment delays product approvals and increases compliance costs. Dependence on Chinese suppliers for key raw materials and reagents can disrupt supply chains.

Key Takeaways
The Global Recombinant Protein Market Share is expected to witness high growth over the forecast period. Advancements in gene engineering technologies have enabled mass production of therapeutic proteins using microorganisms, yeast, insect and mammalian cell culture systems and increased the applications of recombinant proteins in biologics manufacturing.

Regional analysis: Asia Pacific is projected to grow at the highest CAGR during the forecast period. This is attributed to increasing healthcare expenditures, improving scientific research infrastructure, and growing focus of international players on expanding in the region. China has emerged as a major hub for recombinant protein production due to lower manufacturing costs and availability of technical expertise. India is also gaining prominence as a biologics manufacturing destination.

Key players: Key players operating in the recombinant protein market are Merck KGaA, Allergan plc, Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Bausch & Lomb, Inotek, Jadran-galenski laboratorij d.d. JGL d.d, Aerie Pharmaceutical and Mylan N.V. Key players are focusing on expanding their product portfolios through acquisitions and collaboration agreements with biotech companies. They are also investing in developing economies to benefit from talent availability and lower manufacturing costs.

For more details on the report, Read- https://www.ukwebwire.com/recombinant-protein-market-demand-share-analysis/