WASHINGTON, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Recombinant DNA Technology Market finds that the increasing strategic collaborations among key players in developing economies and the rising developments in technology are estimated to expand the Global Recombinant DNA Technology Market growth during the forecast period. The Global Market revenue was valued at USD 142.9 Billion in 2021.
The Global Recombinant DNA Technology Market size is forecast to reach USD 223.0 Billion by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period; states Vantage Market Research, in a report, titled “Recombinant DNA Technology Market Size, Share & Trends Analysis Report by Products (Medical, Non-Medical), by Components (Expression System, Cloning Vector), by Applications (Food & Agriculture, Health & Disease, Environment, Other Applications), by End Users (Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Industry Findings & Insights from the report:
- The global Recombinant DNA Technology Market was valued USD 142.9 Billion in 2021 and is all set to surpass USD 223.0 Billion by 2028, exhibiting a CAGR of 7.7% during the forecast period 2022-2028.
- In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
- In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
- The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
- North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Recombinant DNA Technology industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
List of Prominent Players in Recombinant DNA Technology Market:
- F. Hoffmann-La Roche Ltd (Genentech Inc)
- Profacgen
- Amgen Inc
- Novartis AG
- GenScript
- Pfizer Inc
- Novo Nordisk A/S
- Eli Lilly and Company
- Sanofi Merck & Co. Inc.
- Biogen
- Biocon
- GlaxoSmithKline PLC
- New England Biolabs
- Cibus
- Monsanto Company
- Horizon Discovery Group PLC
Market Dynamics:
Driver:
Rising Advancements in Technology within R&D Initiatives to Drive the Market Growth
The surge in technological advancements is assisting novel product production. In addition, the increased research and development activities for treating life-threatening diseases such as diabetes, cancer, and other immunodeficiency disorders are driving the Recombinant DNA Technology Market expansion. The technology in association with medicine is making it promising to cure diseases with the help of inserting the newest or healthy genes in substitution of damaged or diseased genes in the person’s body. Also, the advancements in recombinant technologies have resulted in gene therapy developments, which are further used in treating genetic diseases. This, in turn, will strengthen the growth of the Global Recombinant DNA Technology Market during the forecast period. Furthermore, the Recombinant DNA Technology Market is letting the researchers treat diabetes by developing human insulin using bacteria as the host cell, with the drug produced by microbes that are thought to be more capable than the standard drugs. As a result, all these advancements are anticipated to serve the market expansion in the coming years.
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Increasing Strategic Collaborations among Market Players to Stimulate Market Growth
The growth in strategic collaborations by key participants in the Recombinant DNA Technology Market industry for the development of Recombinant DNA Technology Market is probably to propel the market expansion in the coming years. Moreover, top companies are involved in strategic collaborations with major biopharmaceutical companies and research institutes for novel therapeutics development based on Recombinant DNA Technology Market. These industry collaborations will provide positive global prospects for the Recombinant DNA Technology Market in the coming years. Also, research organizations are introducing initiatives and offering research grants for developing innovative therapeutics that will likely expand the Recombinant DNA Technology Market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide, and the Global Recombinant DNA Technology Market is no exception. Governments across the world implemented several measures like strict lockdown to ensure social distancing norms to restrict the swift spread of the pandemic. The Recombinant DNA Technology Market suffered as the manufacturing units worldwide were forced to shut down during the initial stages of the pandemic. Small and medium-scale companies, which are the backbone technology providers to the Recombinant DNA Technology Market industry were directly affected due to the epidemic. Furthermore, the rollout for the Recombinant DNA Technology Market industry is also considered as the aftereffects of the pandemic are gradually coming down since the beginning of 2022.
The situation is seen to improve in the second half of 2022 as more supplies resume normal. Vantage Market Research, while performing the analysis study for the Global Recombinant DNA Technology Market has considered the impact of COVID-19 on the Recombinant DNA Technology Market globally and the subsidiaries for the Recombinant DNA Technology Market industry. In addition, the demand and supply chain is considered while estimating the current and forecast market size for the Global Recombinant DNA Technology Market industry for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
a. North America
b. Europe
c. Asia Pacific
d. Latin America
e. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long-Term Dynamics
5. Short-Term Dynamics
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The report on Recombinant DNA Technology Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
Regional Analysis:
North America Dominated the Global Recombinant DNA Technology Market
North America dominated the Global Recombinant DNA Technology Market in 2021 and is expected to continue the same trend during the forecast period. This dominance is due to the presence of manufacturing units in huge numbers in the U.S. region. Moreover, the increase in the number of pharmaceutical and biotechnological companies and research institutes increased investments, and rising awareness about the benefits of Recombinant DNA Technology Market are other key factors likely to propel regional market growth. Besides, the surge in usage of Recombinant DNA Technology Market gene therapy will positively influence regional market expansion in the future.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Recombinant DNA Technology Market Size, Share & Trends Analysis Report by Products (Medical, Non-Medical), by Components (Expression System, Cloning Vector), by Applications (Food & Agriculture, Health & Disease, Environment, Other Applications), by End Users (Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Recent Developments:
March 2022: VBI Vaccines Inc., a biopharmaceutical company, launched PreHevbrio (Hepatitis B Vaccine (Recombinant) in the U.S. for the prevention of infection caused by all known subtypes of hepatitis B virus (HBV) in adults age 18 years and elder.
Key Questions Answered in The Report:
- Which region will show the fastest and highest growth in the near future?
- Which are the top five players and their weakness and strength of the Market?
- What will be the future innovation in the upcoming six years?
- Which application and product will lead the largest share of the Market?
- What are the growth drivers, restraints and challenges of the industry?
- What will be the CAGR and size of the Recombinant DNA Technology Market for the base year and forecast period?
This market titled “Recombinant DNA Technology Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Customization of the Report:
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