Global Recombinant DNA Technology Market to Reach US$ 1,119.0 Billion by 2032, Impelled by Significant Growth in Pharmaceutical Industry

September 22, 2022 | Healthcare

According to the latest report by IMARC Group, titled “Recombinant DNA Technology Market Report by Product (Medical, Non-Medical), Component (Expression System, Cloning Vector), Application (Food and Agriculture, Health and Disease, Environment, and Others), End User (Biotechnology and Pharmaceutical Companies, Academic and Government Research Institutes, and Others), and Region 2024-2032," the global recombinant DNA technology market reached a value of US$ 764.8 Billion in 2023. Recombinant deoxyribonucleic acid (DNA) technology refers to the process of altering genetic materials to obtain desired characteristics in living organisms or their products. It involves multiple steps, such as isolation of genetic material, restriction enzyme digestion, amplification using polymerase chain reaction (PCR), ligation of DNA molecules, and insertion of recombinant DNA into the host. It is widely used in manufacturing pharmaceuticals, novel enzymes for food processing, production of genetically modified organisms (GMO), gene therapy, and clinical diagnosis. Recombinant DNA technology is vital in improving health, enhancing food resources, and solving environmental problems. It also aids in the production of vaccines and protein therapies such as human insulin, interferon, and human growth hormone.

Global Recombinant DNA Technology Market Trends:

The global recombinant DNA technology market is primarily being driven by its increasing utilization in the pharmaceutical industry. Recombinant DNA technology is extensively used in developing vaccines and manufacturing insulin, human growth hormones, antibiotics, and monoclonal antibodies. In addition, the widespread adoption of gene therapy in the healthcare industry to treat cancer, cardiovascular diseases (CVDs), infertility, and genetic diseases is acting as another growth-inducing factor. Furthermore, the increasing demand for recombinant DNA technology in the agriculture industry to develop GMO crops with better yield, microbial resistance, drought resistance, salt tolerance, and high nutrition levels is providing an impetus to the market growth. Additionally, the introduction of new technologies, such as Clustered regularly interspaced short palindromic repeats (CRISPR or Cas9), Zinc-finger nucleases (ZFNs), and transcription activator-like effector nucleases (TALENs) for simple, cost-effective, and precise genome editing is creating a positive outlook for the market. Other factors, including increasing demand for recombinant DNA technology for improving different health conditions, extensive research and development (R&D) activities in novel therapeutics, and widespread utilization in the production of transgenic animals, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 1,119.0 Billion by 2032, exhibiting a CAGR of 4.1% during 2024-2032.

Market Summary:

On the basis of the product, the market has been divided into medical (therapeutic agent, human protein, and vaccines) and non-medical (biotech crops, specialty chemicals, and others).
Based on the component, the market has been bifurcated into expression system and cloning vector.
On the basis of the application, the market has been classified into food and agriculture, health and disease, environment, and others.
Based on the end user, the market has been divided into biotechnology and pharmaceutical companies, academic and government research institutes, and others.
On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, with some of the key players being Amgen Inc, Cibus, F.Hoffmann-La Roche Ltd, GenScript, GlaxoSmithKline plc., Horizon Discovery Group plc, Merck KGaA, New England Biolabs, Novo Nordisk A/S, Pfizer Inc., Sanofi S.A and Syngene International Ltd (Biocon Limited).

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product, Component, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Amgen Inc, Cibus, F.Hoffmann-La Roche Ltd, GenScript, GlaxoSmithKline plc., Horizon Discovery Group plc, Merck KGaA, New England Biolabs, Novo Nordisk A/S, Pfizer Inc., Sanofi S.A and Syngene International Ltd (Biocon Limited)
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Global Recombinant DNA Technology Market to Reach US$ 1,119.0 Billion by 2032, Impelled by Significant Growth in Pharmaceutical Industry

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