Global Recombinant Technology Market – Industry Trends and Forecast to 2029

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Recombinant Technology Market Analysis and Size

Recombinant technology is rapidly being used to treat many illnesses, notably through creating novel pharmaceuticals and vaccinations. This is one of the key drivers of the market, along with the advancement of treatment methods brought on by the development of diagnostic tools, monitoring systems, and new therapy modalities, among others. Additionally, the market for recombinant technology is being driven by the increase in research on genetically modified organisms (GMOs), which include microorganisms thought to be bio degraders and producers of clean fuel.

Data Bridge Market Research analyses that the recombinant technology market which was USD 690.4 billion in 2021, would rocket up to USD 1127.25 billion by 2029, and is expected to undergo a CAGR of 6.32% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Recombinant Technology Market Scope and Segmentation      

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Market Definition

Recombinant technology is also known as genetic engineering. It is currently utilized frequently to modify genetic material outside of an organism to produce better and desirable features in living things. It involves inserting DNA fragments from various sources that have the desired gene sequence into a suitable vector. In addition, it helps in the safe, economical, and sufficient manufacturing of essential proteins needed for nutrition and battling health issues. As a result, it has applications across various fields and a great potential to enhance food resources, improve health, and increase resilience to various negative environmental effects.

Recombinant Technology Market Dynamics

Drivers

• Increasing biopharmaceutical industry

The recombinant technology market is expected to grow at a faster rate during the forecast period 2022 and 2029 due to factors including the expanding biopharmaceutical industry, an increase in technological advancement in the area, a rise in the awareness of human and animal health, and an increase in the success rate of recombinant insulin. On the other hand, government funding for recombinant technology in gene therapy, clinical diagnosis, and pharmaceutical production will create a wealth of growth prospects for the recombinant technology market during the forecast period.

• Increase in prevalence of infectious diseases

The rise in high-tech goods, the expansion of regulatory approvals, the high prevalence of infectious diseases, and the increased market penetration of major companies all contribute to the increased need for recombinant vaccines globally. The market is expanding due to improving healthcare awareness, attractive reimbursement policies, drug and vaccine research and development innovation, rising average individual incomes, and more.

Opportunities

Ongoing research studies fuel the market's growth to explore the potential of plant as expression system are expected to drive the adoption of plan expression systems for GM product development in the coming years. This will provide beneficial opportunities for market growth.

Moreover, an increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the recombinant technology market growth during the forecast period.

Restraints/Challenges

On the other hand, the scientific, regulatory and ethical challenges along with rising risk in using the genetically modified food will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the recombinant technology market.

• High vaccine costs and side effects of treatment

Market growth is likely to be impeded by factors such as high vaccine costs, risks associated with live attenuated vaccines, as well as sore throat irritability after vaccine administration, and strict regulatory policies. 

This recombinant technology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the recombinant technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Recombinant Technology Market

The global pandemic COVID-19 has caused stress across many businesses and industry verticals, not just for human lives. Several million people around the world have contracted the COVID-19 disease, and with more cases becoming active every day, it is still difficult to forecast how long the pandemic will last. The COVID-19 outbreak has had a significant impact on recombinant technology. However, because vaccines are so effective at preventing fatal illnesses, their business has been expanding globally. The prognosis for the year predicts that increased R&D will result in the potential development of a COVID-19 recombinant vaccine.

Recent Development

• In February 2022, the European Medicines Agency's Committee for the Use of Medicinal Products provided VBI Vaccines Inc. with favorable feedback. This viewpoint was in reference to the PreHevbri 3-antigen hepatitis B (HBV) vaccine, developed to provide adults with immunity against hepatitis B virus infection. Because hepatitis B is still a concern for public health in Europe, this favourable judgment gave medical professionals a useful tool for preventing patients from contracting the illness.
• In June 2021, the world's top provider of life science research tools and services, GenScript USA Inc., debuted the GenWandTM Double-Stranded DNA (dsDNA) Service for manufacturing CRISPR knock-in homology-directed repair (HDR) templates in T cell engineering.
• In March 2022, PreHevbrio (Recombinant Hepatitis B Vaccine) was made available to individuals over the age of 18 in the United States by VBI Vaccines Inc. to prevent infection by any known subtype of the hepatitis B virus (HBV). Additionally, the release of the vaccine will increase immunization rates with the help of US healthcare experts and will protect patients, especially adult patients, against HBV.

Global Recombinant Technology Market Scope

The recombinant technology market is segmented on the basis of product, component, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Medical
• Therapeutic Agent
• Human Protein
• Vaccines
• Non-Medical
• Biotech Crops
• Specialty Chemicals
• Others

 Component

• Expression System
• Cloning Vector

Application

• Food and Agriculture
• Health and Disease
• Environment
• Others

 End Use

• Biotechnology and Pharmaceutical Companies
• Academic and Government Research Institutes
• Diagnostic Laboratories

Recombinant Technology Market Regional Analysis/Insights

The recombinant technology market is analysed and market size insights and trends are provided by country, product, component, application and end use as referenced above.

The countries covered in the recombinant technology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the recombinant technology market due to the prevalence of various biopharmaceutical companies along with the high adoption of advanced technology.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the prevalence of low-cost manufacturing centres.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The recombinant technology market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for recombinant technology market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Global recombinant technology market. The data is available for historic period 2010-2020.

Competitive Landscape and Recombinant Technology Market Share Analysis

The recombinant technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to recombinant technology market.

Some of the major players operating in the recombinant technology market are:

• Amgen Inc (U.S.)
• Novartis AG (Germany)
• Novo Nordisk A/S (Denmark)
• Sanofi (France)
• Merck & Co., Inc. (U.S.)
• Genentech, Inc. (U.S.)
• GenScript (U.S.)
• Pfizer Inc. (U.S.)
• Biocon (India)
• GlaxoSmithKline plc. (U.K.)
• New England Biolabs (U.K.) Ltd. (U.K.)
• Cibus (U.S.)
• Horizon Discovery Ltd. (U.K.)
• Boehringer Ingelheim International GmbH (Germany)
• Thermo Fisher Scientific Inc. (U.S.)

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