New York, April 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Recombinant DNA Technology Global Market Report 2023" - https://www.reportlinker.com/p06451225/?utm_source=GNW
, New England Biolabs, Monsanto Company, Thermo Fisher Scientific, Inc., and F. Hoffmann-La Roche Ltd.
The global recombinant DNA technology market is expected to grow from $754.97 billion in 2022 to $811.89 billion in 2023 at a compound annual growth rate (CAGR) of 7.54%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The recombinant DNA technology market is expected to reach $1,069.51 billion in 2027 at a CAGR of 7.13%.
The recombinant DNA technology market includes revenues earned by entities by expression systems including mammalian, bacteria, yeast, and baculovirus / insect.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Recombinant DNA technology refers to fusing DNA molecules from other organisms and inserting those DNA molecules into a host organism to build a new genetic combinations useful for science, medicine, agriculture, and industry. The recombinant DNA technology is used to address health issues by creating new medications and vaccines.
North America was the largest region in the recombinant DNA technology market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the recombinant DNA technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product type of recombinant DNA technology include recombinant protein drugs, vaccines, genetically modified crops, expression systems, cell and gene therapy and gene editing.The recombinant protein drugs are used in the biochemical analysis as well as medical diagnostic reagents in human healthcare, such as antibodies, medicines, or vaccines.
Recombinant protein drugs are referred to as highly potent medicines that develop faster than small molecules and are safe from off-target negative effects.The component type include expression system and cloning vector.
The recombinant DNA technology is applied in food and agriculture, health and disease, environment and other applications and used in biotechnology and pharmaceutical companies, academic and government research institutes and other end-use industries.
The increasing number of chronic diseases is expected to propel the growth of the recombinant DNA technology market.Chronic diseases, which are defined as ailments that last for a year or longer, necessitate continuing medical care, restrict everyday activities, or both.
Recombinant DNA technology has improved healthcare by creating biopharmaceuticals proteins used in pharmaceuticals and by replacing defective genes with healthy ones through gene therapy, aiming to cure illness.For instance, in April 2021, according to a report shared by WHO, a Switzerland-based specialized agency of the United Nations responsible for international public health, noncommunicable diseases (NCDs) accounted for 41 million annual deaths, or 71% of all deaths worldwide.
Between the ages of 30 and 69, more than 15 million people per year die from an NCD; 85% of these premature deaths take place in low- and middle-income nations. Therefore, the increase in chronic diseases is driving the recombinant DNA technology market.
Technological advancement is a key trend in the recombinant DNA technology market.Major companies operating in the recombinant DNA technology market are focused on innovative technologies to sustain their position in the market.
For instance, in October 2021, Thermo Fisher Scientific, a US-based supplier of scientific instrumentation, reagents and consumables, and software services, introduced the Applied Biosystem QuantStudio Absolute Q-Digital PCR System, the first fully integrated digital PCR (dPCR) equipment made to deliver extremely precise and reliable findings in genetic analysis and research in less than 90 minutes.The QuantStudio Absolute Q System uses microfluidic array technology and streamlined processes instead of the complicated, multi-instrument workflows necessary for standard dPCR, which is intended to increase data accuracy and consistency.
The QuantStudio Absolute Q solution is a quick and easy workflow that provides high-quality data with the least amount of manual labour. It combines the data collection, heat cycling, and digitization processes required for dPCR into a single device.
In January 2022, Thermo Fisher Scientific, a US-based scientific instrumentation supplier, reagents, consumables, and software services, acquired PeproTech for $1.85 billion. The acquisition complements Thermo Fisher’s cell culture media products with PeproTech’s recombinant proteins portfolio, which is expected to allow Thermo Fisher to give customers significant advantages through an integrated offering. PeproTech, Inc. is a US-based developer and manufacturer of bioscience reagents known as recombinant proteins.
The countries covered in the Recombinant DNA Technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The recombinant DNA technology market research report is one of a series of new reports that provides recombinant DNA technology market statistics, including recombinant DNA technology industry global market size, regional shares, competitors with an recombinant DNA technology market share, detailed recombinant DNA technology market segments, market trends and opportunities, and any further data you may need to thrive in the recombinant DNA technology industry. This recombinant DNA technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06451225/?utm_source=GNW
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