Recombinant Proteins Global Market Report 2024

The recombinant proteins market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.37 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth observed in the historical period can be attributed to the increasing demand for biopharmaceuticals, the rising prevalence of chronic diseases, a growing aging population, government initiatives and funding, as well as the expanding applications in research and diagnostics.

The recombinant proteins market size is expected to see rapid growth in the next few years. It will grow to $3.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The anticipated growth in the forecast period can be attributed to the increased adoption of personalized medicine, the rapid expansion of the biotechnology sector, global initiatives to address rare diseases, advancements in protein engineering techniques, and the identification of emerging markets and untapped opportunities. Key trends expected in the forecast period include the continued expansion of personalized medicine, rapid growth in the biotechnology sector, a heightened demand for therapeutic proteins, the emergence of novel therapeutic targets, and a global focus on vaccine development.

The anticipated increase in regulatory approvals is set to drive the growth of the recombinant protein market in the future. Regulatory approvals are crucial for research involving human subjects, particularly for drugs addressing severe chronic diseases such as cancer, cardiovascular diseases, endocrine diseases, and viral diseases. In January 2022, the Centre for Drug Evaluation and Research (CDER) reported that 38 out of 50 medications authorized in 2021 received their first U.S. approval. This represents a notable increase from the previous year, with first-in-class drugs comprising 54% of the drugs approved in 2021. Therefore, the growing number of regulatory approvals is a significant factor propelling the recombinant protein market's growth.

Government initiatives in healthcare research and development are expected to contribute to the growth of the recombinant protein market. Various government authorities are undertaking specific actions and programs to support healthcare initiatives, including research into recombinant proteins. In 2022, the UK government announced £260 million in funding to boost healthcare research and manufacturing, supporting NHS-led health research, diagnostics, and treatment development. Government initiatives for research and development in healthcare play a crucial role in driving the recombinant protein market forward.

Product innovation emerges as a prominent trend in the recombinant protein market, with major companies focusing on developing cutting-edge products to enhance their market positions. For instance, ProteoGenix introduced the XtenCHO Transient CHO Expression System in March 2022, aiming to improve biologics development. This system offers significant advantages, including higher yields, optimized plasmid stability, and streamlined protocols for enhanced efficiency in bioanalytical applications and drug development.

Collaborations and partnerships are strategic initiatives undertaken by major companies in the recombinant protein market to gain a competitive edge. In October 2023, ARTES Biotechnology GmbH collaborated with Basic Pharma to establish a streamlined supply chain process for developing and producing non-GMP recombinant proteins. This collaboration focuses on expediting the time-to-market for new pharmaceutical products, showcasing the potential benefits of partnerships in fostering innovation.

In December 2021, Thermo Fisher Scientific Inc. acquired PeproTech, Inc., enhancing its capabilities in serving high-growth cells and gene therapy. Thermo Fisher's acquisition allows them to integrate PeproTech's recombinant protein portfolio into their cell culture media products, providing clients with comprehensive offerings. PeproTech Inc., a recombinant protein producer based in the United States, specializes in developing and manufacturing recombinant cytokine products for life science research.

Major companies operating in the recombinant proteins market report are Abcam plc, Abnova Corporation, Bio-Rad Laboratoroies Inc., Merck Co. & KGaA, R&D Systems Inc., Proteintech Group Inc., RayBiotech Life Inc., GenScript Biotech Corporation, Elpiscience Biopharmaceuticals Co. Ltd., Elevian Inc., Gigagen Inc., Janssen- Cilag Pvt. Ltd., Sino Biological Inc., OriGene Technologies Inc., Feldan Therapeutics Inc., Randox Laboratories Ltd., Plant Biotechnology Inc., Infinite Enzymes Inc., Bio-Techne Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., Crown Bioscience Inc., Airway Therapeutics Inc., Amgen Inc., Aviva Systems Biology Corp., Bracco Imaging S.p.A., Cardinal Health Inc., Eli Lilly and Company, Gamma Medica Inc., LambdaSpect Ltd.

North America was the largest region in the recombinant protein market in 2023. The regions covered in the recombinant proteins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the recombinant proteins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of recombinant protein products encompass antibodies, cytokines, immune checkpoint proteins, virus antigens, enzymes, recombinant regulatory proteins, hormones, and others. Antibodies, for example, are immune system components that circulate in the blood, identifying and neutralizing foreign objects such as bacteria and viruses. They are utilized across diverse applications, including drug and discovery development, therapeutics, research, and more. These recombinant proteins are predominantly utilized by pharmaceutical and biotechnology companies, academic and research institutes, diagnostic laboratories, and other relevant entities.

The recombinant proteins market research report is one of a series of new reports that provides recombinant proteins market statistics, including recombinant proteins industry global market size, regional shares, competitors with a recombinant proteins market share, detailed recombinant proteins market segments, market trends and opportunities, and any further data you may need to thrive in the recombinant proteins industry. The recombinant proteins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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