DNA Science Meets Infinite Possibilities: Recombinant DNA Technology Market Set to Soar Past USD 274.52 Billion by 2030
The global Recombinant DNA Technology market size is expected to reach USD 274.52 billion by 2030 and exhibit a CAGR of 7.6% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increased demand for personalized medicine and targeted therapies, advancements in genetic engineering technologies, growing prevalence of genetic disorders, rising investments in biotechnology research and development, expanding applications in agriculture and food production, favourable government initiatives and supportive regulatory frameworks, growing awareness and acceptance of genetically modified organisms, are fueling the Market’s growth.
Westford USA, June 22, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research, at a global scale, increasing adoption of CRISPR-Cas9 gene editing technology, the emergence of synthetic biology for creating novel DNA constructs, growing use of gene expression systems for protein production, application of recombinant DNA in vaccine development, integration of bioinformatics and computational tools in DNA research, development of gene therapies for rare genetic diseases, utilization of recombinant DNA in environmental and agricultural biotechnology, use of recombinant DNA in the production of biofuels and industrial enzymes, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Recombinant DNA Technology Market”
- Pages – 242
- Tables – 124
- Figures – 77
Recombinant DNA technology refers to the technique of combining genetic material from different sources to create new DNA molecules. It involves cutting and joining DNA segments from different organisms, allowing scientists to introduce specific genes into an organism’s genome, resulting in modified traits or the production of desired proteins.
Prominent Players in Recombinant DNA Technology Market
- Amgen
- Genentech
- Biogen
- Gilead Sciences
- AbbVie
- Johnson & Johnson
- Roche
- Novartis
- Vertex Pharmaceuticals
- Celgene
- Sanofi
- Pfizer
- BioMarin Pharmaceutical
- Alnylam Pharmaceuticals
- Sarepta Therapeutics
- CRISPR Therapeutics
- Sangamo Therapeutics
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Recombinant Proteins Demand to Grow Substantially in the Forecast Period
Recombinant Proteins dominated the global market owing to their wide applications. It is used in therapeutic drugs, vaccines, and diagnostic tests. Their versatility, scalability, and potential for targeted therapies have contributed to their significant market presence.
Pharmaceutical and Biotechnology is the Leading Application Segment
In terms of application, pharmaceutical and biotechnology is the leading segment due to the demand for recombinant DNA. In addition, recombinant DNA technology is extensively for various applications, including the development of therapeutic drugs, the production of recombinant proteins and antibodies, gene therapy, and vaccine development. The increasing prevalence of chronic diseases, advancements in personalized medicine, and the demand for targeted therapies have contributed to the growth of this segment.
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North America is the leading Market Due to the Well Developed Health Infrastructure
Region-wise, North America is one of the largest growing markets with a massive emphasis on pharmaceutical and biotechnology infrastructure. The region has well-established biotechnology and pharmaceutical industries, vital research and development infrastructure, and favourable regulatory frameworks for biotechnology products. Additionally, these regions have witnessed high adoption of recombinant DNA technologies in various sectors, including pharmaceuticals, agriculture, and industrial applications.
A recent report thoroughly analyses the major players operating within the Recombinant DNA Technology market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Recombinant DNA Technology.
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Key Developments in Recombinant DNA Technology Market
- In January 2023, Sanofi acquired Translate Bio for $3.2 billion. Translate Bio is a clinical-stage gene therapy company developing treatments for rare diseases. This acquisition will give Sanofi access to Translate Bio’s gene therapy platform, which could be used to develop treatments for a broader range of conditions.
- In January, Thermo Fisher Scientific acquired Brammer Bio for $1.4 billion. Brammer Bio is a leading provider of cell culture media and other products for the life sciences industry. This acquisition gives Thermo Fisher a stronger foothold in the cell culture market, a key growth area for recombinant DNA technology.
Key Questions Answered in Recombinant DNA Technology Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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