Recombinant DNA Technology Market Size to Hit USD 1079 Bn

Ottawa, July 21, 2022 (GLOBE NEWSWIRE) -- According to Precedence Research, the global recombinant DNA technology market size was estimated at USD 725.14 billion in 2022. The recombinant DNA technology is the manipulation or the alteration of the sequences of the DNA in the human body or other organisms. These genetically modified organisms are able to have better surviving chances even in the worst conditions. Genetic modifications are able to provide better productivity when it comes to the agriculture. This technology has been used largely in the pharmaceutical and the medical industry.

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The use of this technology is expected to grow in the coming years due to its use in biotechnology. The development of various vaccines through the use of this technology has created a great demand.

Report highlights

• By products, the medical segment is expected to have the largest market share due to the production of various vaccines and recombinant proteins with the use of genetic engineering. Increased use of this technology in crops is also expected to grow in the coming years period
• By components, the expression systems is expected to have a larger market share. Apart from the use of bacteria, mammals and the insects as expression systems there is also an increased use of plants in this technology.
• By application, the health and diseases segment is expected to have a dominant position during the forecast period. As there is a growing demand for various drugs and vaccines that help in the betterment of the health of the consumers the market is expected to grow in the coming years period apart from the use of this technology in the manufacturing of drugs used for human beings there is also a growing demand for the use of this technology in treating animals.
• Increased population is expected to drive the market growth for this technology in improvement of the crops. The pharmaceutical and biotechnology industry will have and as lated growth in the coming years. There has been a growth in the expenditure made although development of various technologies that shall be helpful for the human beings in the coming years.

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Scope of the Report

Regional snapshots

The North American region is expected to have a dominant position in the coming years period this region has had a largest market share 51% in 2021. This region is expected to generate maximum revenue as compared to the other regions across the globe. As many major market players are based in the United States this region is expected to be favorable for the growth of this technology. The presence of the regulatory bodies or the authority for the approval of various products that make use of the technology are also present in the United States. This technology is used in developing crops that are of a genetically modified way. This technology is also used largely in the manufacturing of various biofuels and bio pesticides. Increased use of recombinant DNA technology gene therapy it's also expected to help in the growth of the market in the coming years.

The European region is also expected to hold a good position in the coming years. The ability of better infrastructure for research and development activities in the North American region and the European region are expected to drive the market growth in the coming years. As there has been an increase in the amount of investments made by the governments of various nations across the North American region and the European region the quality of various health care facilities is expected to improve during the forecast period. Increase in the number of collaborations and the penetration in the developing nations is expected to provide better opportunities for growth in the coming years.

Market dynamics

Drivers

As far as we know growing demand and good adoption of the biopesticides which are manufactured using the recombinant DNA technology and the use of genetically modified crops the market for recombinant DNA technology is expected to grow well in the coming years. Increased use of this technology for the treatment of the chronic diseases is also expected to drive the market growth in the coming years. The products developed through the use of this technology have proven effectiveness which is expected to garner larger market in the coming years. As that has been a great demand for improving the output or the production capacity of the recombinant protein it will be a major driving factor for the growth of the market during the forecast.

Increase research and development has provided with many drugs for the treatment of various diseases and these drugs are receiving approval from the Food and Drug administration of the United States. The approval for various drugs through the FDA has created a sense of safety in the consumers and all of these reasons are expected to be the major driving factors for the growth of the market in the coming years

Restraints

The increased use of genetic engineering or the recombinant DNA technology in gene therapy has a few risks. The rules and regulations which are associated with the approval of these therapies happen to be extremely stringent. And this happens to be a major restraint in the growth of the market. The major market players are currently seeking ways for producing or having genetically engineered products that may pass and get the approval of the regulatory authority.

Opportunities

In order to capture a large number of markets the North American and the European regions are +-focusing on expanding their business to the remote locations. The focus on entering remote markets will provide better opportunities for growth. It will also provide affordable infrastructure which will be extremely beneficial in the research activities.

Challenges

One of those challenges faced by this market is the gene pollution. There is also a growing concern due to various allergies or reactions caused due to the use of this technology in the manufacturing of various pharmaceutical compounds. There is also an increased risk of cross contamination which may affect the environment in a negative manner. Increased use of this technology in genetic modification because many ecological disasters in the coming years.

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Recent Developments

• In order to prevent the infections that are caused by the hepatitis B virus and its subtypes, a vaccination was developed in the year 2022. VBI Vaccines Head introduced the vaccine in the market for the adults. PreHevbrio was launched by this organization in the US. This company also received an approval for the 3-antigen HBV vaccine in the year 2022. This vaccine will provide immunization against hepatitis B virus.

Market Segmentation

By Product

• Medical
  • Therapeutic Agent
  • Human Protein
  • Vaccines
• Non-Medical

By Component

• Expression System
  • Mammalian
  • Bacteria
  • Yeast
  • Baculovirus/Insect
• Cloning Vector

By Application

• Health and disease
• Food and Agriculture
• Environment
• Others

By End User

• Pharmaceutical and biotechnology companies
• Research institutes
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

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