The Recombinant Chemicals Market Size is valued at USD 2.87 billion in 2023 and is predicted to reach USD 4.67 billion by the year 2031 at a 6.4% CAGR during the forecast period for 2024-2031.
Recombinant chemicals are products or substances that are generated using recombinant DNA technology, which involves combining DNA from multiple sources to create novel genetic combinations. Biotechnology frequently use this procedure to produce a wide range of chemicals, proteins, enzymes, and other biological substances utilized in the fields of medicine, agriculture, and industry. Recombinant DNA technology has revolutionized the treatment and management of genetic illnesses through the creation of therapeutic products. Recombinant proteins are used to create and improve vaccines. Their rising demand is being driven by their application in several medical fields, including drug discovery, therapies, and diagnostics.
Additionally, there are a lot of opportunities in the recombinant chemicals market, and recombinant chemicals are growing in popularity as a result of the improved genetic engineering that is generating new ideas in agriculture, health, and industry. The increasing demand for biologics and tailored treatment bodes well for the industry.
However, the market expansion of the recombinant chemicals sector is impeded by factors such as the ethical considerations of genetic engineering, the complexity of regulations, and the high production costs. Furthermore, the recombinant chemicals market was positively affected by the COVID-19 pandemic because the demand for vaccinations and medicines was accelerated, demonstrating the significance of recombinant technology. As a result, healthcare and biotechnology saw a surge in investment in R&D, which fueled innovation and opened up new avenues for application.
Moreover, innovative goods in the recombinant chemicals market are developed through collaboration between enterprises in the biotechnology industry, research institutes, pharmaceutical corporations, and other rising research and development capacities, manufacturing procedures, and recombinant chemical technology breakthroughs in the pharmaceutical, diagnostic, and industrial sectors.
Competitive Landscape
Some Major Key Players In The Recombinant Chemicals Market:
- Genentech, Inc.
- Amgen Inc.
- Biogen
- Pfizer, Inc.
- Novartis AG
- Merck & Co.
- Sanofi
- Hoffmann-La Roche AG
- Johnson & Johnson Services, Inc.
- Bayer AG
- Bio-Techne
- Thermo Fisher Scientific Inc. (US),
- Abcam plc
- Abnova Corporation
- BioLegend Inc
- Bio-Rad Laboratories, Inc.
- Other Market Players
Market Segmentation:
The recombinant chemicals market is segmented based on product type, technology, and application. Based on product type category, the market is divided into recombinant proteins, recombinant DNAs, recombinant peptides, and others. By technology, the market is segmented into microbial expression systems, mammalian cell expression systems, yeast expression systems, insect cell expression systems, and cell-free expression systems. By application category, the market is segmented into drug development, vaccine production, therapeutics, cell line development, agriculture, food and beverage, and others.
Based On The Product Type, The Recombinant Proteins Recombinant Chemicals Market Accounts A Major Contributor To The Recombinant Chemicals Market
The recombinant proteins in the recombinant chemicals market are expected to hold a major global market share in 2023 because they play an essential part in creating biological medicines, vaccines, and diagnostic instruments. Their uptake is being propelled by the rising number of chronic diseases and the need for tailored therapy. The availability and affordability of recombinant proteins for use in biotechnology and pharmaceuticals have been greatly improved by recent developments in bioprocessing and genetic engineering, which have increased production yield and efficiency.
Microbial Expression Systems Segment To Witnessed Growth At A Rapid Rate
The microbial expression systems segment is expanding rapidly in the recombinant chemicals market because they generate large quantities of recombinant proteins at little cost and with little effort. Their rapid growth rates and ease of genetic manipulation make them perfect for industrial-scale manufacturing. The rising demand for recombinant proteins in pharmaceuticals and industrial applications is being met by progressively enhancing microbial expression systems' capabilities through developments in fermentation technology and genetic engineering, which is increasing their market usage even further.
In The Region, The North American Recombinant Chemicals Market Holds A Significant Revenue Share.
The North American recombinant chemicals market is expected to note the highest revenue share in the near future. This can be attributed to the excellent biotechnology sector, great research and development capacity, favourable regulatory environment, and presence of top pharmaceutical corporations promoting the acceptance of recombinant chemical technologies. In addition, Asia Pacific is likely to develop rapidly in the global recombinant chemicals market because of rising biotechnology investments, a developing pharmaceutical sector, government policies supporting this sector, and rising demand for creative healthcare solutions throughout the region.
Recent Developments:
- In April 2024, Merck, a prominent scientific and technology corporation, allocated more than € 300 million towards the establishment of a state-of-the-art research facility at its worldwide headquarters in Darmstadt, Germany. The primary goal of the Advanced Research Center is to conduct research on manufacturing antibodies, mRNA applications, and other goods required for biotechnological production in the Life Science industry.
Recombinant Chemicals Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 2.87 Bn |
|
Revenue Forecast In 2031 |
USD 4.67 Bn |
|
Growth Rate CAGR |
CAGR of 6.4% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product Type, Technology, And Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Genentech, Inc., Amgen Inc., Biogen, Pfizer, Inc., Novartis AG, Merck & Co., Sanofi, F. Hoffmann-La Roche AG, Johnson & Johnson Services, Inc., and Bayer AG.and Others. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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