Market Research Future published a research report on Global Recombinant DNA Technology Market and predicts that Global Recombinant DNA Technology Market is expected to grow at a healthy CAGR of 6.9% during the forecasted period and report include market Analysis, Scope, Stake, Progress, Trends and forecast till 2023.
Recombinant DNA Technology Market Highlights:
The recombinant DNA technology is a process that manipulates and alters the DNA sequences, resulting in a genetically modified organism and product. These genetically modified products or organisms have superior or specific ability such as resistance to certain chemicals, high productivity, and survival abilities in harsh conditions (GM crops).
The products Global Recombinant DNA Technology Market has a practical application of biotechnology in the fields of applied immunology, genomics, diagnostic tools, and development of pharmaceutical therapeutics. There are numerous biological methods used to create a recombinant DNA. The treatment was developed for leukemia disorder, in conjugation between the Novartis Corp and the University of Pennsylvania.
Factors such as the commercial success of the recombinant DNA technology in the biopharmaceutical industry, the increasing adoption of genetically modified crops and biopesticides, and the increasing burden of chronic diseases are driving the growth of the market. Moreover, the increasing need to improve the recombinant protein production capacity and the presence of robust biopharmaceuticals pipeline are increasing the demand for effective therapeutics for disease treatment.
The Global Recombinant DNA Technology Market is expected to grow at a CAGR of approximately 6.9% during the forecast period, 2017–2023.
Key Players for Global Recombinant DNA Technology Market
Some of the key players in the Global Recombinant DNA Technology Market are F. Hoffmann-La Roche Ltd (Switzerland), Profacgen (U.S.), Amgen Inc. (U.S.), Novartis AG (Switzerland), Genscript Biotech (U.S.), Pfizer Inc. (U.S.), Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Sanofi S.A. (France), Merck & Co., Inc. (U.S.), Biogen Inc. (U.S.), Biocon Limited (India), GlaxoSmithKline plc (UK), New England Biolabs (U.S.), Cibus (U.S.), Monsanto Company (U.S.), Horizon Discovery Group PLC (U.S.), Boehringer Ingelheim (Germany), and others.
Regional Analysis for Global Recombinant DNA Technology Market
The Global Recombinant DNA Technology Market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas contributes a major share to the Recombinant DNA Technology Market owing to the widespread successful applications of this technique in veterinary products’ development, genetically modified crops’ development, biopesticides’ and biofuels’ production, and gene therapy. All these factors are expected to spur the adoption of this technology throughout the forecast period.
The European market holds the second largest share of the Global Recombinant DNA Technology Market owing to the increasing investments by hospital facilities and by the government for better healthcare. The growing collaborations and partnerships, the low cost of sequencing, and the increasing adoption of NGS procedure by research laboratories are driving the growth of this market.
The Asia Pacific region is expected to witness a rapid growth rate over the forecast period. Countries such as India and China are expected to support the growth of Asia Pacific owing to the increasing government funding for research and development. Moreover, conducting clinical trials in Asian countries such as India are relatively less costly in comparison with the western countries. This has resulted in the migration of several Global biopharmaceutical developers towards this region.
The Middle East and Africa are also expected to show healthy growth in the coming five years. There are some factors affecting the growth of the recombinant DNA technology in the Middle East such as lack of knowledge of genetic diseases and disorders, weak health care and research infrastructure, traditional healthcare practices, limited availability of products and services, and cost of the tests.
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