Rising Demand for Personalized Medicine of Recombinant DNA Technology Market
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, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Recombinant DNA technology allows for efficient production of medically important compounds like insulin and human growth hormone in larger quantities. It has significantly reduced production costs and made lifesaving drugs more affordable. Recombinant proteins can now be mass produced using bacterial or yeast cells as bioreactors.
Weakness: Developing new recombinant products requires extensive research and clinical testing, making it a costly process. Not all proteins can be expressed well in non-human cells. Safety concerns still exist regarding potential immunogenicity or unintended effects of recombinant proteins.
Opportunity: The aging global population is driving demand for recombinant therapeutics to treat chronic diseases. New applications in gene and cell therapy offer hope for previously untreatable conditions. Agricultural uses in producing hardier or nutrient-fortified crops also represent opportunities.
Threats: Strict regulation of genetic engineering slows commercialization of some products. Public mistrust of the technology is a challenge. Intellectual property issues around recombinant DNA patents could hamper innovation. Emerging biologics also compete for research funding and market share.
Key Takeaways
The Global Recombinant DNA Technology Market Size is expected to witness high growth over the forecast period of 2023 to 2030 driven by increasing demand for biologic drugs and gene therapies. The market size is projected to reach US$ 156.89 million by 2023.
Regional analysis: North America currently dominates the market due to extensive research activity and favorable regulatory environment for biotech in the region. However, Asia Pacific is expected to witness fastest growth over the coming years led by China, India, and Japan. Heavy investments in biosimilar development and manufacturing infrastructure will boost the regional market.
Key players: Key players operating in the recombinant DNA technology market are Fineheart and Berlin. Fineheart has a comprehensive portfolio of recombinant proteins for research and medical use. Berlin is a leading contract manufacturer of biologics, offering recombinant protein production as well as process development and scale-up services.
Explore more information on this topic, Please visit –
https://www.ukwebwire.com/recombinant-dna-technology-market-size-and-trends-analysis/
Explore more trending article on this topic –
https://www.insightprobing.com/recombinant-dna-technology-market-demand-and-overview/
English
Arabic
Français
Español
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian