Recombinant DNA Technology is expected to reach a valuation

New York, United States, July 07, 2022 (GLOBE NEWSWIRE) -- The factors accelerating the market’s growth are high investments in Research and Development, the quick adoption of the genetically modified crops, the use of transgenic animals in the agricultural sector and the production of vaccines using Recombinant DNA technology.

Critical Insights into the Recombinant DNA Technology Market:

• By Product, Genetically Modified Crops held the largest market share.
• By Application, Healthcare and Agricultural Segments were at par in the market.
• By Region, North America held the highest market share.
• By Component, expression systems had a majority of the market share.

Factors driving the growth of the market:

High Investments in Research & Development

There is a tremendous opportunity to make new discoveries in the market for Recombinant DNA. Hence, companies will continue to invest heavily in their R&D departments. GeneXpert is the platform for diagnostics developed by Cepheid that received USD 256 million in funding for its R&D department through multiple institutions such as the National Institute of Health, various government agencies and philanthropists. Therefore, more discoveries would be made with higher investments in the sector, making the market far more worthy and valuable.

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An increasing rate of adoption of Genetically Modified Crops

Certain crops have been grown using genetically modified seeds since the early 1990s, with the advantages of higher yield, pest and disease resistance and lower production costs associated in the long run. According to FDA statistics, 94% of the soybean crops,94% of cotton crops, 95% of canola, 92% of corn crops and nearly 100% of sugar beet crops are planted using GMO seeds. Further, 95% of cattle and poultry feed is obtained from GMO crops. Over 90% of the papaya grown in Canada is through GM crops. Therefore, with the increasing adoption of GM crops across more regions worldwide, the market for Recombinant DNA technology would grow at a promising rate.

Producing vaccines using Recombinant DNA technology

Vaccines that have been produced using Recombinant DNA technology have shown positive results on a global scale. The most commonly used Recombinant DNA Technology vaccines are the ones to protect against Human Papilloma Virus (HPV), Hepatitis B, and Japanese Encephalitis(JE). According to a CDC study, the HPV immunization rate for teenagers increased from 71.5% to 75.1% in one year. The vaccine for JE prevented over 300,000 deaths globally over a period of ten years. Hence, with further opportunities available to develop vaccines for critical diseases, the market for Recombinant DNA Technology would further develop. 

Use of Transgenic Animals 

Transgenic animals are organisms which have genetic material from two animals generally having the same genus and different species to create a resultant hybrid that is superior to the original species. The new species has more desirable characteristics such as higher yield and disease resistance. Laboratories in the UK have consistently produced more than one million transgenic animals since 2008; these animals are primarily produced for scientific research purposes. One of the first commercially used transgenic animals was the AquAdvantage salmon which had higher yields and grew faster than the Atlantic variety of salmon. Thus, with the increased research into genetically engineered (GE) animals, the market for Recombinant DNA Technology would grow further. 

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Descriptive Analysis of the market’s Segmentation

By Product

• Therapeutic Agent
• Vaccine
• Genetically Modified Crops
• Speciality Chemicals

By Application

• Food and Agriculture
• Environment
• Health
• Disease Fighting

By Component:

• Expression System
• Cloning Vector

By End-User

• Biotechnological and Pharmaceutical Companies
• Academic & Government Research Institutes
• Others

By Region

North America

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Hungary
• Russia
• Rest of Europe

Asia-Pacific 

• Australia 
• China
• Vietnam
• India
• Japan
• South Korea
• Rest of APAC

Latin America, Middle East and Africa(LAMEA)

• Argentina
• Brazil
• GCC
• South Africa
• Rest of the Latin American, Middle Eastern and African countries.

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By Product, Genetically Modified Crops held the highest market share of the segment, which stood at 33.4% of the market. The reason for the market dominance are the multiple benefits associated with the usage of GM crops; like they have higher yield and, in general, the same or lower production costs, alongside being resistant to diseases and pests. As implied by International Service for the Acquisition of Agri-biotech Applications (ISAAA), over 190 million hectares of crops were grown using GM products in more than 25 countries. The report also states that developing countries (24) outnumbered the developed countries (5) in using these crops. Therefore, with the benefits associated with using GM crops, the market for Recombinant DNA Technology would improve further. 

By Application, the agricultural and healthcare sector had nearly equal market shares and dominated the market together at comprehensive rates. The applications in agriculture included high-yield crop seeds, disease and pest-resistant crops, and increasing Nitrogen fixation abilities. One major application in this field is using Bacillus thuringiensis (Bt) crops that are insect and pest resistant and still safe for human consumption. As per the data from the US Department of Agriculture, Bt cotton is 88% of the acreage of cotton grown in the US. Further, Bt corn is approximately 82% of the corn acreage. Human insulin produced using Recombinant DNA Technology is one of the most commercially used products in the healthcare sector. Multiple vaccines have been created by the use of Recombinant DNA Technology. Thus, with ever-increasing applications being developed, we will see the market significantly grow in the coming years.

By component, the two most prominent ones are the expression system and the cloning vector. Due to ongoing improvements for effective protein expression and for its further development on a wide scale, expression systems accounted for the highest proportion. Mammalian, bacterial, insect, and yeast expression systems are utilized most often. 

By Region, with 52.3% of the total market, North America dominate the market single-handedly. The region dominates primarily due to a large number of pharmaceutical & biotechnological companies present and conducting research. According to research, there are over 2,000 companies manufacturing brand-name pharmaceutical drugs in the US. The pharmaceutical industry is the top-ranked industry in Canada with spending on R&D, ahead of the Computer/Software industry and Oil & Gas as well as energy industries. Hence, the region would continue to dominate the market in the short-term and mid-term future. 

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Major Companies in the Recombinant DNA Technology Market:

• Amgen
• BASF
• Bayer
• Biogen
• DuPont Pioneer
• GenScript
• Monsanto
• Novartis AG
• Novo Nordisk 
• Pfizer
• Sanofi
• Thermo Fisher Scientific Inc.

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Recent Developments:

• In July 2022, WuXi Biologics began the production of microbial products at their facility. The product line aims to manufacture enzymes, plasmid DNA, recombinant proteins, and virus-like particles due to their increasing global demand. 
• In June 2022, researchers in China developed a method to detect the recombinant human interferon α2b (rhIFNα2b) much faster. They developed a special chromatography-enabled paper using Recombinant DNA Technology to help diagnose diseases such as hepatitis B & C fast, reducing the test time from two days to a few minutes.
• In June 2022, NorthX Biologics, a major manufacturer of recombinant DNA proteins on the global market, declared its decision to assign four new members to its Board of Directors. With the appointment of the members, the company aims to further establish itself in untapped markets such as North America and the Asia Pacific. 
• In October 2021, the Institute of Molecular Medicine (IMM) announced that it was licensing its technology, MultiTEP, a platform to develop universal vaccines, to Nuravax. The technology aims to develop a Recombinant DNA Technology vaccine for Alzheimer’s disease. 
• In June 2021, the CDC’s Advisory Committee on Immunization Practices (ACIP) approved the use of Dengvaxia in children between 9-16. Dengvaxia is a vaccine used to prevent symptoms of dengue which was developed using Recombinant DNA Technology.

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