According to a new report published by KD Market Insights, titled, “Recombinant Protein Market Insights, Trends, Opportunity & Forecast, 2021–2026,” the global recombinant protein market size is anticipated to witness single digit growth during the forecast period i.e. 2021-2026. The growing application of recombinant protein in areas such as research, biotechnology, food production, agriculture bioengineering and others and the increasing number of government investments and R&D expenditure in pharmaceutical & biotechnology companies are expected to propel the growth of the market in the upcoming years.
Furthermore, use of recombinant protein in therapies for a variety of diseases, such as diabetes, cancer, infectious diseases, hemophilia, and anemia is also a major driving factor for global recombinant protein market. In addition to this, advancement in technologies in various areas associated with or facilitating recombinant protein production is likely to support the growth of recombinant protein market globally during the forecast period.
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The North American region held the dominant position in the recombinant protein market in 2020. It was followed by the European region which accounted for the second largest share in the market. North America is projected to further continue to retain its top position during the years of forecast owing to the increasing presence of key players, surging incidences of chronic & infectious diseases, the growing R&D spending and favorable government funding in the region.
According to product, the growth factors and chemokines segmented jointly accounted for the largest share of the recombinant protein market in 2020. The chemokines segment is estimated to grow at the highest CAGR over the forecast period.
The global recombinant protein market is segmented into product, application, end-user and region. Based on product, the market is bifurcated into immune checkpoint proteins, cytokines, chemokines, colony stimulating factors, growth factors, hormones & enzymes, viral protein and others. Based on application, it is classified into medicine, research and biotechnology. Based on end-user, it is classified into biopharmaceutical companies, research organizations & laboratories, food & beverage companies, diagnostic centers and others
The global recombinant protein market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Recombinant Protein Market
- On the basis of product, the growth factors and chemokines segmented jointly accounted for the largest share of the recombinant protein market in 2020.
- On the basis of product, the chemokines segment is estimated to grow at the highest CAGR over the forecast period.
- On the basis of region, the North American region held the dominant position in the recombinant protein market in 2020 with the largest share and was followed by Europe.
- On the basis of region, North America is projected to further continue to retain its top position over the years of forecast.
Some of the major recombinant protein companies profiled in the report include Abcam plc, A.M.S. Biotechnology (Europe) Limited, Bio-Rad Laboratories Inc., BPS Bioscience Inc., PerkinElmer Inc., Crown Bioscience Inc., Prospec-Tany Technogene Ltd., Merck Millipore Limited, Sigma Aldrich and Thermo Fisher Scientific Inc.
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