Pune, India, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The global recombinant DNA technology market is expected to grow during 2023 to 2030. The growth of the market is driven by the increasing demand for recombinant DNA-based products and services in the healthcare, agricultural, and industrial sectors. The global recombinant DNA technology market will grow considerably in the coming years due to exceptional scientific advancements in gene therapy. The development of recombinant DNA (rDNA) technology has given researchers unprecedented control over genetic information.
Recombinant DNA Technology Market Size, Share and Global Trend By Product (Vaccines, Therapeutic Agents, Recombinant Protein, Others), By Component (Vectors, Expression System, Others), By Application (Diagnostics, Therapeutic, Food and Agriculture, Others), By End User (Biotechnology and Pharmaceutical Companies, Diagnostic Laboratories, Academic and Government Research Institutes, Other) and Geography Forecast till 2030
Key Industry Development
In December 2022, Amgen Inc. an American transnational biopharmaceutical company acquired Horizon Rectifiers plc. The accession of Horizon was an excellent occasion for Amgen to furnish innovative drugs that addressed the requirements of cases who suffer from serious conditions.
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Furthermore, by making it possible to create a recombinant DNA molecule, the gradual development of rDNA techniques has opened up new avenues for advancing biopharmaceutical development. The adoption of this technology is anticipated to be fueled by the presence of a strong biopharmaceutical pipeline, particularly the pipeline for recombinant proteins. The growth of this market is largely attributable to the development of recombinant products using rDNA techniques in conjunction with CRISPR/Cas9 nuclease, ZFN, and TALEN for simple & accurate genome editing with no restriction by organisms. Numerous review studies conducted by researchers have demonstrated the effectiveness of rDNA technology.
Key Takeaways:
- The growth of the recombinant DNA technology market is being driven by the increasing demand for biopharmaceuticals, the rising prevalence of chronic diseases, and the technological advancements in recombinant DNA technology.
- The rising prevalence of chronic diseases is another major driver of the market growth.
- The key players in the recombinant DNA technology market are Thermo Fisher Scientific, Inc., QIAGEN N.V., GenScript Biotech Corporation, New England Biolabs, Inc., and Merck KGaA.
- The technological advancements in recombinant DNA technology are also contributing to the growth of the market.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historical Data for | 2019 to 2021 |
| Market Segments | By Product, By Component, By Application, By End User and Geography |
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Driving and Restraints:
Recombinant DNA Technology Market Driven by Rising Demand for Biotherapeutics and Diagnostics
Rising demand for biopharmaceuticals and vaccines: Recombinant DNA technology is used to produce a wide range of biopharmaceuticals and vaccines, including human insulin, growth hormone, blood clotting factors, and hepatitis B vaccine. The increasing demand for these products is expected to drive the growth of the recombinant DNA technology market.
Growing focus on personalized medicine: Recombinant DNA technology can be used to develop personalized medicines that are tailored to the individual patient's genetic makeup. This is expected to drive the growth of the market, as personalized medicines have the potential to improve patient outcomes and reduce healthcare costs.
Increasing government support for research and development: Governments around the world are investing in research and development of recombinant DNA technology. This is expected to boost the growth of the market, as it will lead to the development of new and innovative products and applications.
Rising awareness about the benefits of recombinant DNA technology: There is a growing awareness among the general public about the benefits of recombinant DNA technology. This is expected to drive the market's growth, as more and more people will opt for products and services that are developed using this technology.
Restraining Factors
Recombinant DNA Technology Market Restrained by High Cost and Safety Concerns
High cost of gene therapy: Gene therapy is a type of treatment that uses recombinant DNA technology to modify genes. The high cost of gene therapy is a major restraining factor for the growth of the market.
Stringent regulatory requirements: Recombinant DNA technology is a highly regulated field. The stringent regulatory requirements can delay the development and commercialization of new products and applications.
Public concerns about safety and ethics: There are some public concerns about the safety and ethics of recombinant DNA technology. These concerns can hinder the growth of the market.
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Segmentation
By Product
- Vaccines
- Therapeutic Agents
- Recombinant Protein
- Others
By Component
- Vectors
- Expression System
- Others
By Application
- Diagnostics
- Therapeutic
- Food and Agriculture
- Others
By End User
- Biotechnology and Pharmaceutical Companies
- Diagnostic Laboratories
- Academic and Government Research Institutes
- Other
By Geography
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and the Rest of Middle East & Africa)
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Regional Insights
North America to Emerge as Leading Region; Strategic Collaborations are Key Growth Drivers
The report provides segmentation of the global recombinant NA technology market based on several aspects such as product, component type, application, end users, and regional demographics. Based on regional demographics, the report highlights some of the leading regions that have made their name heard in the global recombinant DNA technology market in recent years.
Among all regions, Fortune Business Insights expects North America to emerge dominant in the coming years. Growing investment in research and development of recombinant DNA technology, combined with an increasing number of company collaborations will aid the growth of the recombinant DNA technology market in the coming years.
Competitive Landscape
The small players in the market are focusing on niche applications and providing customized solutions to their customers. They are also entering into strategic partnerships with major players to gain access to their resources and expertise.
The competitive landscape in the recombinant DNA technology market is expected to intensify in the coming years, as the demand for these technologies continues to grow. The major players in the market are expected to continue to invest in research and development, expand their geographic reach, and enter into strategic partnerships to maintain their competitive edge.
Some of the leading companies that are operating in the global recombinant DNA technology market. A few of the prominent market companies include Novartis AG, Thermo Fisher Scientific Inc., Sanofi Pasteur Limited, Merck KGaA, Genentech Inc., GlaxoSmithKline plc., Eli Lilly and Company, Pfizer Inc., and Janssen Pharmaceuticals Inc.
These players are investing heavily in research and development to develop new and innovative products and services. They are also expanding their geographic reach to tap into new markets.
FAQ’s
What Are The Products Of Recombinant DNA Technology In Market?
Biochemical products of recombinant DNA technology in medicine and research include: human recombinant insulin, growth hormone, blood clotting factors, hepatitis B vaccine, and diagnosis of HIV infection
Which Region Is Expected To Dominate the Market During Forecast Period?
North America is Expected To Dominate the Recombinant DNA Technology Market
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