Pune, India, Oct. 11, 2021 (GLOBE NEWSWIRE) -- The global recombinant proteins market size is projected to experience dynamic growth in the forthcoming years owing to the increasing prevalence of chronic diseases across the world, finds Fortune Business Insights™ in its report, titled “Recombinant Proteins Market, 2021-2028”.
The recombinant proteins come with antibodies, hormones, enzymes, and others which provide various therapies for the treatment of numerous diseases such as diabetes, cancer, and others. There has been an increasing prevalence of chronic diseases such as cancer, and others, which has resulted in high demand for recombinant proteins as these proteins are useful in drug development and research. Thus, this is a vital factor contributing to the growth of this market during the forecast period.
However, the biopharmaceutical companies are undergoing some challenges in getting the regulatory approval, which is projected to impede the growth of this market.
In spite of the COVID-19 pandemic, there has been a high demand for recombinant proteins from the pharmaceutical and healthcare industries across the world. Thus, this pandemic has no major impact on the growth of recombinant proteins market, which acts as a driving factor for this market’s growth.
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List of Key Players in Recombinant Proteins Market:
- Sigma Aldrich Company Ltd.
- Novoprotein Scientific
- Thermo Fisher Scientific
- Merck KGaA, Abcam PLC
- Lonza, GenScript Biotech Corporation
- ProSpec Tany TechnoGene, Ltd.
Market Segmentation:
On the basis of type, this market is divided into hormones, growth factors, antibody, enzyme, and others. By end-user, the market is classified into biopharmaceutical companies, academic and research institutes, and others. Based on application, the market is categorized into therapeutic and research. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights/Summary:
The report incorporates actionable insights into the regional prospects of the market and provides a comprehensive analysis of the market drivers and challenges. Further, the report also contains detailed bifurcation of key market players and careful study of their strategies and offers a granular evaluation of the different market segments.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Drivers/Restraints:
Increasing Investments in Drug Development and Discovery to Fuel the Market
In recent years, there have been increasing investments in drug development and discovery process by the government in which the recombinant proteins play an important role. There are several applications of recombinant proteins such as chemical production, pharmaceutical, cosmetics, and others. Thus, this is a crucial factor responsible for the growth of this market across several regions.
Regional Insights:
Increasing Research and Development Activities in Biotechnology Industry to Boost the North America Market Growth
North America region is projected to dominate the recombinant proteins market share on account of the increasing research and development activities in biotechnology and pharmaceutical industries in this region.
Asia Pacific region is anticipated to grow rapidly in this market due to the rising sales of the products in the use of research and development experiments in this region.
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Competitive Landscape:
Increasing Research in Drug Development to Feed Competition
The leading companies in the recombinant proteins market are focusing on increasing their research activities in drug development due to a high demand for recombinant proteins from the healthcare industry. This has resulted in the increasing competition among key companies which will help them to widen their business operations and strengthen their market foothold.
Industry Development:
June 2020: Lonza launched a new media GSv9 to support the recombinant proteins production using Lonza’s GS Gene Expression System.
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