Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Global Recombinant Proteins Market by Product (Growth Factors, Chemokines, Structural Proteins, Membrane Proteins), Application (Drug Discovery & Development (Biologics, Vaccines, Cell & Gene Therapy), Research, Biopharma Production) & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global recombinant proteins market size is projected to reach USD 3.2 billion by 2028 from USD 2.2 billion in 2023, at a CAGR of 7.2% during the forecast period. Factors such as rising demand for biologics & biosimilars due to patent expiry, increasing prevalence of chronic diseases, increased government support for life sciences research & development and growing preference for personalized medicine. 
The growth factors and chemokines segment segment held the dominant share in the recombinant proteins market
Based on product, the global recombinant proteins market is segmented into growth factors and chemokines, kinase proteins, membrane proteins, immune response proteins, structural proteins, regulatory proteins, recombinant metabolic enzymes, adhesion molecules and receptors, and other recombinant proteins. The growth factors and chemokines segment is further segmented into interferons, interleukins and other growth factor & chemokines. The growth factors and chemokines segment is anticipated to grow at significant CAGR due to their application in cell culture, protein expression, and modulation of cellular responses.
Drug discovery & development segment accounted for the largest share of the application segment in 2022
Based on application, the recombinant proteins market is segmented into, drug discovery and development, biopharmaceutical production, research, diagnostics, and other applications. In 2022, the drug discovery and development segment accounted for the largest share of the recombinant proteins market. The segment held the largest share in the market due to application of recombinant proteins in developing biopharmaceuticals and understanding the functions of potential drug targets.
Asia Pacific region is likely to grow at a faster pace in the recombinant proteins market
The recombinant proteins market region is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and the Africa. Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by increasing demand for protein based drugs, rising government funding for recombinant proteins production and development of biotechnology-based drugs.
The report provides insights on the following:
- Analysis of key drivers (rising incidence of chronic diseases, unleashing innovation in biologics and biosimilars with patent expiry, increasing government support for R&D in life sciences, growing preference for personalized medicine), restraints (high production costs, stringent regulatory approval processes), opportunities (advancements in gene editing technologies, high growth potential of emerging markets, emergence of novel expression systems) and challenges (challenges associated with delivery systems) are influencing the growth of recombinant proteins market.
- Product Development/Innovation: Detailed insights on newly launched products of the recombinant proteins market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the recombinant proteins market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the recombinant proteins market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include Bio-Techne (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Abcam plc (UK), Abnova Corporation (Taiwan), Biolegend Inc (US), Bio-Rad Laboratories Inc. (US), BPS Bioscienc Inc (US), Enzo Biochem Inc. (US) and GenScript (China).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 408 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.2 Billion |
| Forecasted Market Value (USD) by 2028 | $3.2 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Recombinant Proteins Market, by Product, 2023 vs. 2028 (USD Million)
- Recombinant Proteins Market, by Application, 2023 vs. 2028 (USD Million)
- Recombinant Proteins Market for Drug Discovery & Development, by Type, 2023 vs. 2028 (USD Million)
- Recombinant Proteins Market for Research, by Type, 2023 vs. 2028 (USD Million)
- Recombinant Proteins Market, by Host Cell, 2023 vs. 2028 (USD Million)
- Recombinant Proteins Market, by End-user, 2023 vs. 2028 (USD Million)
- Geographical Snapshot of Recombinant Proteins Market
Premium Insights
- Recombinant Proteins Market Overview - Increasing Government Support for R&D in Life Sciences to Drive Market
- North America: Recombinant Proteins Market, by Product (2022) - Growth Factors & Chemokines Segment Accounted for Largest Market Share in 2022
- Recombinant Proteins Market, by Product, 2023 vs. 2028 - Growth Factors & Chemokines Segment to Dominate Market During Forecast Period
- Recombinant Proteins Market: Geographic Growth Opportunities - Asia-Pacific Countries to Register Highest Growth Rate During Forecast Period
Market Dynamics
Drivers
- Rising Incidence of Chronic Diseases
- Increasing Demand for Biologics and Biosimilars due to Patent Expiry
- Increasing Government Support for R&D in Life Sciences
- Growing Preference for Personalized Medicine
Restraints
- High Production Costs
- Stringent Regulatory Approval Processes
Opportunities
- Advancements in Gene Editing Technologies
- High Growth Potential of Emerging Markets
- Emergence of Novel Expression Systems
Challenges
- Challenges Associated with Delivery Systems
Companies Profiled
- Bio-Techne
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Abcam PLC
- Abnova Corporation
- Biolegend, Inc
- Bio-Rad Laboratories, Inc.
- Bps Bioscience, Inc.
- Enzo Life Sciences, Inc.
- Genscript
- Miltenyi Biotec B.V. & Co. KG
- Proteintech Group, Inc.
- Sino Biological, Inc.
- Acrobiosystems Group
- Aviva Systems Biology
- Sartorius Cellgenix
- Icosagen
- Neuromics
- Prospec-Tany Technogene Ltd.
- Proteogenix SAS
- Raybiotech, Inc.
- Laurus Bio
- Stemcell Technologies
- Stressmarq Biosciences Inc.
- United States Biological
For more information about this report visit https://www.researchandmarkets.com/r/4n1g8d
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