Yahoo Finance Recombinant Protein Market to Surpass US$ 6,691.4 Million by 2030, Says Coherent Market Insights (CMI)
Burlingame, Feb. 08, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global recombinant protein market is estimated to be valued at US$ 2,808.4 million in 2022 and is expected to exhibit a CAGR of 11.5% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Recombinant Protein Market:
Increasing initiatives and research programs for antibody production is expected to aid in the segment growth over the forecast period. For instance, in January 2022, Vir Biotechnology, Inc., a commercial-stage immunology company, announced the extension of its partnership with the Bill & Melinda Gates Foundation for launching a new antibody research initiative.
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Key Market Takeaways:
The global recombinant protein market is expected to exhibit a CAGR of 11.5% during the forecast period. Due to key players in the market are involved in product launches of protein supplements. For instance, in March 2022, Muscle Pharm Corporation, a global producer of sports nutrition and lifestyle branded nutritional supplements, announced its entry into the ready-to-drink protein industry in the summer of 2022, with the debut of its new whey protein drink line. The new range of high protein beverages will be sold under the renowned Muscle Pharm brand and will have over 20g of protein, be sugar-free, and come in a variety of flavors.
Among product type, antibodies segment is dominant due to the increasing adoption of inorganic growth strategies such as acquisitions by the key players is expected to drive the segment growth over the forecast period. For instance, in July 2021, Atlas Antibodies, manufacturer of highly validated primary antibodies, acquired evitria, a developer of transient recombinant antibody expression in Chinese hamster ovary (CHO) cells. CHO cells are the preferred expression system for recombinant therapeutic protein (RTP) production. The acquisition will combine the antibody solutions of both the companies and expand their business.
On the basis of end user, biotechnology and pharmaceutical companies segment is expected to hold dominant position over the forecast period. Due to increasing fund raising activities by market players for the development of drugs. For instance, in December 2021, PDC line Pharma, a clinical stage biotech company developing a new class of potent and scalable active off the-shelf cancer vaccine, announced the completion of its Series B2 round of financing. The company had raised a total of US$ 20.3 million (€17.5 million) with Belgian and South Korean investors. The proceeds from series B funding round will be used for the phase I/II trial of PDC lung01, one of the class of active immunotherapies for cancers that the company is developing based on GMP-grade allogeneic therapeutics cell line of plasmocytoid dendritic cell- its PDC line.
Competitive Landscape:
Key players operating in the global recombinant protein market include Merck KGaA, OriGene Technologies, Inc., Thermo Fisher Scientific Inc., Feldan Therapeutics, ACROBiosystems, Abcam plc., Randox Laboratories Ltd., SOL GROUP, Proteintech Group, Inc, Planet Biotechnology, Inc., INFINITE ENZYMES, INC., ORF Genetics, GenScript, BTL Biotechno Labs Pvt Ltd., Prospec-Tany Technogene Ltd., BPS Bioscience, Inc., Sino Biological, Cape Bio Pharms, Abnova Corporation, GeNext Genomics.
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Market Segmentation:
Global Recombinant Protein Market, By Product Type:
Antibodies
Antigens
Enzymes
Hormones
Others
Global Recombinant Protein Market, By Expression System:
Microbes
Plant
Animal
Global Recombinant Protein Market By Application:
Drug Discovery and Development
Research Application
Therapeutic Use
Diagnostics
Others
Global Recombinant Protein Market By End User:
Biotechnology and Pharmaceutical Companies
Academic and Research Institute
Contract Research Organization
Others
Global Recombinant Protein Market, By Region:
North America
By Country:
U.S.
Canada
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country:
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country:
GCC
Israel
Rest of Middle East
Africa
By Country/Region:
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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