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Recombinant Proteins Market Trends

Report ID: GMI9114
Published Date: Apr 2024
Report Format: PDF

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Recombinant Proteins Market Trends

The increasing demand for biopharmaceuticals and therapeutic proteins is a significant driver of the market growth.
Biopharmaceuticals, including therapeutic proteins, are vital in treating various diseases such as cancer, autoimmune disorders, and genetic diseases. Growing demand of biologics and antibody-based therapeutics, drives the demand for recombinant proteins.
For instance, as per the National Institute of Health (NIH), in 2022, U.S. FDA approved fifteen biologics and monoclonal antibodies (mAbs) continued to account for majority of FDA approvals among them. Thus, growing demand for recombinant protein-based therapeutics, is expected to drive the market growth.
Additionally, the rising prevalence of chronic diseases, the growing elderly population, and advancements in biotechnology are all contributing to the increased demand for biopharmaceuticals and therapeutic proteins, further driving the market share.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of recombinant proteins was reached USD 2.3 billion in 2023 and is expected to register 7.1% CAGR from 2024 to 2032, owing to the increasing demand for biopharmaceuticals and therapeutic proteins, which are essential in the treatment of various diseases worldwide.

Recombinant proteins industry from the product segment recorded USD 1.5 billion in 2023 due to the wide range of applications of recombinant proteins across various industries, including pharmaceuticals, biotechnology, and research.

North America recombinant proteins industry is expected to register 6.9% CAGR from 2024-2032 due to the presence of a robust biotechnology and pharmaceutical industry, fostering innovation and research in protein therapeutics in the region.

Enzo Life Sciences, Inc., GenScript Biotech Corporation, Merck KGaA, Proteintech Group, Inc., RayBiotech, Inc., R&D Systems, Inc., Sino Biological, Inc., STEMCELL Technologies Inc., and Thermo Fisher Scientific Inc., are some of the major recombinant proteins companies worldwide.