Global Recombinant DNA Technology Market Analysis & Forecast to 2023-2033

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Nov 22, 2023, 12:00 ET

DUBLIN, Nov. 22, 2023 /PRNewswire/ -- The "Global Recombinant DNA Technology Market Analysis & Forecast to 2023-2033: Market By Product; By End User; and By Region" report has been added to ResearchAndMarkets.com's offering.

The global recombinant DNA technology market size was estimated to be USD 148.71 billion in 2023 and is expected to reach at USD 345.7 billion by 2033 with a CAGR of 7.97% during the forecast period 2023-2033.

Rising investment in research for development of recombinant products, increasing mergers & acquisitions by key market players, technological advancements in recombinant DNA technologies, increasing genetic disorder, growing demand for early detection of disease, rising development of genetically modified crops to improve both yield & resistance to pests or herbicides, rising application of RDT in agriculture & food, and growing research & development activities are the key factors propelling the market growth.

By Product, Component was the highest revenue-grossing segment in the global recombinant DNA technology market in 2022 owing to rising developments for efficient protein expression, growing development of cell lines such as HEK293 and Chinese Hamster Ovarian (CHO), and rising technological advancements. Additionally, Non-medical is predicted to grow at fastest CAGR during the forecast period owing to the increasing development of genetically modified crops and increasing product launches.

By Application, Food and Agriculture was the highest revenue-grossing segment in the global recombinant DNA technology market in 2022 owing to rising development of genetically modified crops, increasing research & development activities, and growing launch of genetically modified crops. Additionally, Health and disease is predicted to grow at fastest CAGR during the forecast period owing to the increasing number of chronic & infectious diseases.

By End User, Academic and Government Research Institutes was the highest revenue-grossing segment in the global recombinant DNA technology market in 2022 owing to rising prevalence of chronic & infectious diseases and rising research & development activities for the formulation of therapies & treatments. Additionally, Biotechnology and pharmaceutical companies is predicted to grow at fastest CAGR during the forecast period owing to increasing introduction of genetically modified products and rising technological advancements.

North America region is anticipated to witness the highest revenue share during the forecast period owing to the increasing research & development activities. For instance, in May 2022, PharmaJet announced that the National Institute on Aging (NIA), a division of the National Institutes of Health (NIH), awarded a funding of USD 12 million to its partner, the Institute for Molecular Medicine (IMM). The grant is intended to support clinical trials focused on beta-amyloid vaccines for the prevention of Alzheimer's disease (AD), utilizing DNA and recombinant proteins as the basis for the vaccines. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing launch of genetically modified products and rising product approvals by regulatory bodies. For instance, in February 2022, VBI Vaccines Inc. obtained a favorable opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use regarding their 3-antigen hepatitis B (HBV) vaccine, known as PreHevbri. This vaccine, designed for active immunization in adults, aims to protect against all identified subtypes of the hepatitis B virus.

Report Market Segmentation:

By Product

Component

Cloning Vector
Expression System

Non-medical

Specialty Chemicals
Biotech Crops

Medical

Human Protein
Vaccine
Therapeutic Agent

By Application

Health and Disease
Food and Agriculture
Environment

By End-user

Academic and Government Research Institutes
Biotechnology and Pharmaceutical Companies

By Region

Companies Mentioned

Novartis
Thermo Fisher Scientific
Sanofi Pasteur
Merck KgaA
Genentech Inc.
GlaxoSmithKline
Eli Lilly
Pfizer
Janssen Pharmaceutical
GenScript
New England Biolabs

For more information about this report visit https://www.researchandmarkets.com/r/fqchft

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SOURCE Research and Markets