Recombinant DNA Technology Market Overview
The recombinant DNA technology market is projected to obtain a CAGR of 6.9 % of CAGR during the forecast period. Recombinant DNA technology is used for genetic modification of organisms and products to make them survive in harsh conditions and for high productivity.
This technology has huge applications in different sectors. It is primarily used in specific fields of genomics, applied immunology, pharmaceutical therapeutics, and diagnostic tools. These applications and their growing research and development activities are driving the growth of the recombinant DNA technology market.
The major growth factors such as the increased adoption of genetically modified crops and the adoption of recombinant DNA technology in biopharmaceuticals are chiefly driving the market. Also, the demand for effective therapeutics disease treatment and higher growth of biopharmaceuticals pipeline and the rising requirements for enhancing recombinant protein production are other growth factors.
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During the COVID-19 pandemic, the recombinant DNA technology market has noticed a loss in productivity and sales due to the lockdown. But after getting permission from the government to sell essential items, the market’s demand started increasing, and it maintained its growth consistency.
Due to the industrial player’s efforts and marketing strategies, the recombinant DNA technology market will emerge with various growth opportunities.
Recombinant DNA Technology Market Segmentation
The recombinant DNA technology market is segmented into various segments such as product, components, application and end-user.
The product segment of the market is categorized into non-medical, medical, and others. The non-medical is segmented into specialty chemicals, biotech crops, and others, while the medical segment is divided into therapeutic agents, human proteins, and vaccines.
The component segment is fragmented into a cloning vector and expression system. The cloning vector is further sub-fragmented into cosmid, plasmid, phage, Yeast Artificial Chromosome (YAC), Human Artificial Chromosome (HAC), and Bacterial Artificial Chromosome (BAC). The expression system segment is also sub-fragmented into bacteria, baculovirus or insect, mammalian, yeast, and others.
The application section of the market is segregated into food and agriculture, health and disease environment, and others.
The health & disease segment will occupy the highest market share of the recombinant DNA technology market due to the rise in the number of chronic diseases and the presence of a wide range of recombinant products for the treatment of human diseases like vaccines, drugs, etc.
The end-user segment of the market is fragmented into pharmaceuticals, biotechnology companies, academic and government research institutes, and others.
Recombinant DNA Technology Market Regional Analysis
The geographical report of the recombinant DNA technology market shows the regions covered, such as Europe, the Americas, the Middle East and Africa, and the Asia Pacific.
Among these, the Americas will register a major share due to the huge applications of recombinant DNA techniques for genetically veterinary products’ development, modified crops’ development, gene therapy, and biopesticides and biofuels production.
The European recombinant DNA technology market will be the second leading region in terms of shares in the forecast period due to the increasing investments of government and good quality hospital facilities. Other factors driving the regional market are cost-effective sequencing, collaborations and partnerships, and the rise in demands of the research laboratories.
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Top Key Players in the recombinant DNA technology market are Pfizer Inc. (U.S.), Sanofi S.A. (France), Eli Lilly and Company (U.S.), Biogen Inc. (U.S.), Biocon Limited (India), Boehringer Ingelheim (Germany), Amgen Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Profacgen (U.S.), Novartis AG (Switzerland), Novo Nordisk A/S (Denmark), Genscript Biotech (U.S.), Merck & Co., Inc. (U.S.), Cibus (U.S.), GlaxoSmithKline plc (UK), New England Biolabs (U.S.), Horizon Discovery Group PLC (U.S.), Monsanto Company (U.S.).
Recombinant DNA Technology Industry News
In 2017, Novatris AG received approval from FDA for their product based on gene transfer for acute lymphoblastic leukemia.
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