Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Recombinant Proteins Market size is expected to reach $2.6 billion by 2028, rising at a market growth of 10.8% CAGR during the forecast period.
The Growth Factors & Chemokines segment acquired maximum revenue share in the Global Recombinant Proteins Market by Product in 2021 thereby, achieving a market value of $858.7 million by 2028. The growth factors and chemokines segment's significant contribution to research in areas like cancer, Covid-19, cell culture, neuroscience, stem cell research, transplantation, HIV/AIDS, and wound healing can be due to its substantial market share. Additionally, they assist in coordinating innate and adaptive immune responses. Interleukin-2 is one cytokine that is increasingly being employed as an adjuvant in the creation of vaccines.
The Pharmaceutical & Biopharmaceutical Companies segment has shown the growth rate of 10.1 % during (2022 - 2028). The market segment is anticipated to maintain its dominant position while growing at the quickest CAGR throughout the forecast period. The bio-manufacturers have invested millions of dollars in R&D to expand their product pipeline, develop new technologies, and improve bioprocessing tools as a result of the trend toward biologics and biosimilars.
The Drug Discovery & Development segment is generating highest revenue share in the Global Recombinant Proteins Market by Application in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $916.8 million by 2028. Recombinant proteins help in the discovery and development of new substances that affect how disease-associated proteins operate or the corresponding protein-protein interactions. Recombinant proteins have also developed into a crucial tool in the drug discovery process since they make it possible to quantify, localise, and modulate proteins of interest.
The North America market dominated the Global Recombinant Proteins Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $982.4 million by 2028. The Europe market is exhibiting a CAGR of 10.4% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 11.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bio-Techne Corporation, Thermo Fisher Scientific, Inc., Merck Group, Bio-Rad Laboratories, Inc., Abcam plc, Genscript Biotech Corporation, Miltenyi Biotec B.V. & Co. KG, Proteintech Group, Inc., BPS Bioscience, Inc., and RayBiotech Life, Inc.
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