Recombinant proteins market is projected to grow at a CAGR of 11.14% by 2033: Visiongain Reports Ltd
Visiongain has published a new report: Recombinant Proteins Market: Forecasts by Products & Services (Cytokines & Growth Factors (Interferons (IFNs), Interleukins (ILS), Others), Antibodies, Enzymes (Kinases Enzymes, Metabolic Enzymes, Others), Recombinant Regulatory Protein, Hormones, Virus Antigens, Immune Checkpoint Proteins, Others)), Services), by Application (Biopharmaceutical Production (Biologics, Vaccines, Cell & Gene Therapy, Others), Drug Discovery & Development, Research, Diagnostics, Others)), by Host Cell (Mammalian Systems, Bacterial Cells, Yeast & Fungi, Insect Cells, Others), by End-users (Biopharmaceutical and Biotechnology Companies, CROs, Academic & Research Institutes, Diagnostic Laboratories, Others), AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The recombinant proteins market was valued at US$3,079.9 million in 2023 and is projected to grow at a CAGR of 11.14% during the forecast period 2023-2033.
The field of biologics within biotechnology has been recognised to be rapidly growing. Diabetes, autoimmune diseases, and cancer therapies account for more than 60% of the biologics industry. As a result, the cost is exorbitant and growing on a regular basis. According to the World Health Organisation (WHO), these high prices impede healthcare systems from providing affordable, universal access to such treatments. This creates a slew of opportunities for generic drugmakers to create biosimilar copies of original biologics whose patents have lapsed. As a result, generic medication manufacturers are continuously on the lookout for biologics with expiring labels. There will be 230 medicinal patents expiring between 2021 and 2025. PERJETA (Pertuzumab), VYROLOGIX (Leronlimab), and STELARA (Ustekinumab) are just a handful of the biologics that will be phased out in 2023. Biologics already account for half of the cancer pharmaceutical business, according to the Centre for Biosimilars, but their high price is a barrier to access. By 2023, around 20 oncology biologics' patents will have expired, potentially resulting in more biosimilars being utilised in cancer therapy and lower overall prices.
Download Exclusive Sample of Report
How has COVID-19 had a Significant Impact on the Recombinant Proteins Market?
The growth of the recombinant protein market was impacted by the COVID-19 pandemic. The advent of COVID-19 has led to a surge in the need for therapeutic and vaccination interventions to counteract its effects. Numerous market participants and public institutions have redirected their attention towards research and development endeavours aimed at addressing COVID-19, with recombinant proteins serving as a crucial component in these initiatives. An article published in the JCLA journal in May of 2022 details how researchers and scientists focused their efforts on recombinant proteins as a means of developing a COVID-19 vaccine. The outbreak of COVID-19 has resulted in an increase in the need for pharmaceuticals based on recombinant proteins. The present circumstances suggest that the studied market is likely to experience substantial growth during the projected timeframe, owing to the widespread occurrence of chronic ailments and coexisting infectious diseases, as well as the effectiveness of recombinant protein-based medication in addressing them.
How will this Report Benefit you?
Visiongain’s 358-page report provides 146 tables and 248 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the recombinant proteins market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Recombinant Proteins. Get financial analysis of the overall market and different segments including product & services, application, cell source, and end-user, and capture higher market share. We believe that there are strong opportunities in this fast-growing recombinant proteins market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Growing Demand for Vaccine Production
Recombinant proteins are required for the development and production of vaccines. The rapid development of the COVID-19 vaccine, as well as the amount of immunisation demand, is unprecedented in modern medicine. To accommodate this demand, stakeholders have had to rethink their manufacturing methods, make large investments, repurpose existing facilities, and develop sophisticated supply networks. The R&D reaction to COVID-19 has been spectacular. This required a far faster ramp-up of manufacturing than is customary in pharmaceutical development, a difficulty exacerbated by the global nature of vaccine demand.
Emerging Economies and Prioritisation of R&D to Boost Industry Growth
Some of the most rapidly rising economies in the pharmaceutical sector are Brazil, Russia, India, China, South Africa, Mexico, South Korea, Indonesia, and Turkey. In five years, pharmaceutical sales in these countries more than doubled, obtaining a market share of roughly 20% in the worldwide pharma industry. Furthermore, firms are dealing with flattening growth in developed nations, patent expiration, which leads to increased sales of less expensive generic drugs, and strict regulations enforced in mature markets.
Download Exclusive Sample of Report
Where are the Market Opportunities?
Rising Significance of Genomics and Proteomics
Proteins perform critical roles in biological systems. A better knowledge of illnesses, health, and, by extension, health outcomes is increasingly seen as a difficult, but necessary, precondition. The recent spread of genome sequencing, powered by a steep decline in sequencing costs, has propelled the rapid rise in the identification of possible genetic targets and associated protein biomarkers for sickness diagnosis and more personalised therapies. To capitalise on this market potential in protein research, the recombinant protein market is seeing high rates of innovation and capital investment in support of several innovative solutions to uncover and analyse protein biomarkers.
The major players operating in the recombinant proteins market are Abcam Plc; Abnova Corporation; Avantor Inc.; Bio-Rad Laboratories, Inc.; Bio-Techne; Enzo Biochem Inc.; GenScript; Merck KGaA; PerkinElmer, Inc; Proteintech Group, Inc.; RayBiotech Life, Inc.; Sino Biological Inc.; STEMCELL Technologies; and Thermo Fisher Scientific Inc. These market's top players have pursued a variety of strategies, including M&A, R&D investment, collaborations, partnerships, regional company development, and new product launches.
In March 2023 the Recombinant COVID-19 Vaccine (Sf9 cell) - Coviccine® developed by WestVac Biopharma Co., Ltd. and West China Hospital of Sichuan University was launched at several vaccination sites in Yunnan. As one of the recommended vaccines in the national Immunization Schedule for Second COVID-19 Booster Dose (fourth dose), Coviccine® has excellent broad-spectrum immune protection against multiple mutant strains.
In November 2022, Sanofi and GSK’s next-generation COVID-19 booster vaccine VidPrevtyn® Beta received approval from the European Commission. VidPrevtyn Beta is a monovalent, recombinant-protein next-generation COVID-19 vaccine developed by Sanofi, modelled on the Beta variant and including GSK’s pandemic adjuvant.
To access the data contained in this document please email firstname.lastname@example.org
To find more Visiongain research reports on the Pharma sector, click on the following links:
Stem Cell Technologies and Applications Market Report 2022-2032
Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: email@example.com
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100