Recombinant Proteins Market worth $2.4 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 4, 2022 /PRNewswire/ -- Recombinant Proteins Market size is projected to reach USD 2.4 billion by 2027 from USD 1.4 billion in 2022, at a CAGR of 11.4% during the forecast period according to a new report by MarketsandMarkets™. A steady increase in government investment for the R&D of pharmaceutical & biotechnology companies; emerging economies with growing aging populations, increasing income levels, developments in healthcare infrastructure, increasing healthcare expenditure, low-cost manufacturing advantage, and the use of recombinant proteins for personalized medicine and diagnostics are the major factors driving the growth of the recombinant proteins market.

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In 2021, the Immune Checkpoint Proteins segment accounted for the second-largest share of the recombinant proteins market during the forecast period.

Based on product, the recombinant proteins market is classified into growth factors and chemokines, structural proteins, kinase proteins, regulatory proteins, membrane proteins, recombinant metabolic enzymes, adhesion molecules and receptors, immune response proteins, and other recombinant proteins. The large share of the Immune Checkpoint Proteins segment can be attributed to their major role in cancer immunotherapy.

Immune checkpoint therapy: CTLA-4 and PD1- PD-L1 inhibitors have already been approved for cancer therapy with effective efficacy, and this has enhanced various additional research on other immune checkpoints for cancer therapy.

The drug discovery & development segment is expected to grow at the highest CAGR during the forecast period

Based on application, the recombinant proteins market is segmented into drug discovery & development, biopharmaceutical production, biotechnology research, academic research studies, diagnostic, and other applications. Drug discovery & development accounted for the largest share of the application segment in 2021 and is also expected to grow at the highest CAGR during the forecast period. Recombinant proteins aid in discovering and developing new compounds that influence the function of disease-associated proteins or respective protein-protein interactions. Also, recombinant proteins have become a key tool in drug discovery, enabling the quantification, localization, and modulation of proteins of interest. Increasing R&D in this segment is expected to have a positive impact on the overall growth of the recombinant proteins market in the coming years.

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North America was the largest regional market for the recombinant proteins market in 2021.

The recombinant proteins market is segmented into five major regions, namely, North America, Europe, The Asia Pacific, Latin America, and the Middle East & Africa. North America was the largest regional market for recombinant proteins market in 2021. The large share of the North American market can be attributed to the increasing demand for recombinant protein products that are supported owing to the growing prevalence of autoimmune & infectious diseases as well as the increasing R&D investments in neurobiology and other life sciences-related activities.

However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The presence of emerging economies such as China, India, and South Korea; large population base with disposable income for advanced personalized medicine and diagnostics; rising healthcare spending and government initiatives; increasing research activities; and the growing incidence of cancer cases that has led to a rise in the demand for cancer immunotherapy-based drugs and monoclonal antibodies are some of the major factors driving the growth of this regional market.

The global recombinant proteins market is fragmented. The prominent players operating in this market include Thermo Fisher Scientific Inc. (US), Miltenyi Biotech (Germany), Sino Biological Inc. (China), Merck KGaA (Germany), Abcam plc (UK), Biolegend (US), Bio-Rad Laboratories, Inc. (US), GenScript Biotech Corporation (China), Enzo Life Sciences, Inc. (US), BPS Bioscience, Inc. (US), Proteintech Group, Inc. (US), Abnova Corporation (Taiwan), R&D Systems (US), STEMCELL Technologies Inc (Canada), Other players operating in the market include RayBiotech Inc (US), CellGenix GmbH (Germany), ACROBiosystems (US), ProSpec-TechnoGene Ltd. (Israel), Neuromics (US), Laurus Bio (India), Icosagen AS (US), ProteoGenix (France), United States Biological (US), StressMarq Biosciences Inc (Canada), and Aviva Systems Biology Corporation (US).

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