In 2022, the recombinant proteins market was worth around USD 1,367.3 million, and it is projected to advance at an 11.2% CAGR from 2022 to 2030, hitting USD 3,203.7 million in 2030, according to P&S Intelligence.
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This development can be credited to the growing partnership between the pharmaceutical industry and universities and the increasing occurrence of primary communicable illnesses and hereditary disorders. Furthermore, the rising R&D on biological drugs and growing government expenditure for this purpose are projected to drive market growth.
The increasing occurrence of several rare syndromes, including neutropenia, multiple sclerosis, dwarfism, anemia, and cerebral apoplexy, is fuelling the demand for medications based on recombinant proteins.
Furthermore, such agents are utilized in the betterment of innovative treatments for serious chronic disorders, such as cardiovascular diseases, viral diseases, endocrine diseases, and cancer. The hike in the rate of these conditions is projected to boost the demand for recombinant protein drugs in the future as well.
The growth factors and chemokines category led the recombinant proteins market and is also projected to experience, approximately 12% CAGR, in the coming future. This can be ascribed to the utilization of growth factors and chemokines in numerous research on immunology, COVID-19, cancer, HIV/AIDS, and neurobiology.
In 2022, Biologics had the largest market share, approximately 60%, and is expected to grow at the highest pace in the coming few years. This is mainly because of the rising leaning of pharma firms and biopharma toward escalating their biosimilars and biologics research and development efforts and product pipelines, making innovative technologies, and enhancing the skill of bioprocessing.
In 2022, North America led the market, generating a revenue share of approximately 45%, mainly because of the increasing occurrence of communicable and chronic syndromes and supportive government steps. Moreover, the increasing need for these items in the R&D studies conducted by the KEY players is driving the industry in the continent.
The APAC industry is projected to grow at the fastest pace in the coming few years. This can be ascribed to the widespread development in pharmaceutical contract development and production efforts in the past few years.
Furthermore, the increasing populace and its rising need for better accessibility to drugs; and the reduced cost of biopharmaceuticals, with the introduction of lucrative generics are leading to the development of the market in the region.
Additionally, rising GDP per capita, government-supportive healthcare steps, and rapid urbanization rate have extended the potential for the acceptance of recombinant proteins in the region.
Hence, the growing partnership between the pharmaceutical industry and universities and the increasing occurrence of primary communicable illnesses and hereditary disorders, are the major factors driving the recombinant proteins market.
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