SEATTLE, July 11, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global recombinant DNA technology market is estimated to be valued at US$ 145.4billion in 2022 and is expected to exhibit a CAGR of 7.9% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Recombinant DNA Technology Market:
The increase in research and development activities by key players is expected to drive the market over the forecast period. For instance, in June 2021, according to data published by National Center for Biotechnology Information, Haemophilia is a rare disorder, treatments for haemophilia disorder were previously restricted to receiving blood plasma from donors who have working levels of VIII and IX clotting factors. Advancements in DNA technology have led to the production of recombinant factors VIII and IX. Hence, global data expects a lower uptake of plasma-derived haemophilia treatments in 2022 as developers focus on improving recombinant products and gene therapies.
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Key Market Takeaways:
The global recombinant DNA technology market is expected to exhibit a CAGR of 7.9% during the forecast period due to the increasing adoption of inorganic growth strategies such as agreements by the key players in the market. In December 2021, Lupin Limited, an Indian multinational pharmaceutical company, entered into an exclusive distribution and marketing agreement with Biomm SA, a biotechnology company in Brazil. Under the terms of agreement, Biomm would distribute and market biosimilar Pegfilgrastim Lupin' Product in Brazil. Biomm SA Company produces human and swine insulin using recombinant DNA techniques. Lupin had received the U.S. Food and DruG Administration (U.S. FDA) acceptance of the Biologics License Application (BLA) for its proposed biosimilar to Neulasta (pegfilgrastim). Pegfilgrastim is indicated to reduce the duration of neutropenia and the incidence of febrile neutropenia in patients receiving chemotherapy.
Among application, therapeutics segment holds a dominant position in the recombinant DNA technology market, owing to rising number of genetically engineered products such as recombinant insulin, erythropoietin, and novel gene therapies to treat various human diseases. For instance, in May 2022, according to an article published by National Center for Biotechnology Information, Erythropoietin stimulating agents (ESAs) are recombinant versions of European Patent Office (EPO) produced pharmacologically via recombinant DNA technology in cell cultures. Examples of erythropoietin stimulating agents include epoetin alfa, darbepoetin, and methoxy polyethylene glycol-epoetin beta.
Key players operating in the global recombinant DNA technology market include Thermo Fisher Scientific, Inc., Biogen, Inc., Sanofi Pasteur, Merck & Co., Inc., Pfizer, Inc., Profacgen, Amgen, Inc., and Monsanto Company.
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Global Recombinant DNA Technology Market, By Product Type:
Recombinant Protein Drugs
Genetically Modified Crops
Cell and Gene Therapy
Global Recombinant DNA Technology Market, By Application:
Global Recombinant DNA Technology Market, By Region:
Middle East & Africa
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