According to the latest report by IMARC Group, titled “Recombinant DNA Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global recombinant DNA technology market reached a value of US$ 690.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 925 Billion by 2027, exhibiting a CAGR of 4.9% during 2022-2027.
The introduction of recombinant DNA technology, or genetic engineering, involves altering genetic material outside an organism and obtaining enhanced and desired characteristics in living organisms. It includes the insertion of DNA fragments from several sources with a desirable gene sequence through an appropriate vector. Besides this, recombinant DNA technology aids in the safe, affordable, and sufficient production of vital proteins needed for dietary purposes and fighting health problems. Consequently, it has multidisciplinary applications and a remarkable potential to improve health, food resources, resistance to divergent adverse environmental effects, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
Recombinant DNA technology is being increasingly utilized for treating different health conditions, primarily by developing new vaccines and pharma products. This, along with the improving treatment strategies due to the developing diagnostics kits, monitoring devices, new therapeutic approaches, etc., are among the significant factors fueling the market. Moreover, the rising number of research activities conducted on genetically modified organisms (GMO), which include microorganisms considered as bio degraders and clean fuel producers, is also propelling the market for recombinant DNA technology. Additionally, the escalating integration of recombinant DNA technology with effective gene therapy for replacing defective genes with normal ones is further anticipated to stimulate the market growth in the coming years.
Breakup by Product:
- Medical
- Therapeutic Agent
- Human Protein
- Vaccines
- Non-Medical
- Biotech Crops
- Specialty Chemicals
- Others
Breakup by Component:
- Expression System
- Cloning Vector
Breakup by Application:
- Food and Agriculture
- Health and Disease
- Environment
- Others
Breakup by End User:
- Biotechnology and Pharmaceutical Companies
- Academic and Government Research Institutes
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Amgen Inc
- Cibus
- F.Hoffmann-La Roche Ltd
- GenScript
- GlaxoSmithKline plc
- Horizon Discovery Group plc
- Merck KGaA
- New England Biolabs
- Novo Nordisk A/S
- Pfizer Inc
- Sanofi S.A
- Syngene International Ltd (Biocon Limited)
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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