The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the Recombinant DNA Technology Market.
JERSEY CITY, N.J. , March 13, 2023 /PRNewswire/ -- The global Recombinant DNA Technology Market is projected to grow at a CAGR of 7.31% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 108.3 Billion in 2020 and is expected to reach USD 127.3 Billion by the end of the forecast period.
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Browse in-depth TOC on "Recombinant DNA Technology Market"
202 - Pages
126 – Tables
37 – Figures
Recombinant DNA Technology: An Innovative Technology that Propels the Global Market for Therapeutics and Agriculture
Recombinant DNA technology, an innovative technology that fuses two separate DNA fragments through recombination, has played a vital role in the development of new vaccines and pharmaceutical products. The agricultural sector has been the most prominent area for the use of recombinant DNA technology, with the development of genetically modified crops such as BT-cotton.
Various factors, including rising demand for protein production, potent therapeutics, and the increasing use of recombinant DNA in medicines, have significantly contributed to the expansion of the global recombinant DNA technology market. The rising prevalence of chronic diseases is expected to drive the demand for medicines and proteins developed using recombinant DNA technology exponentially. Such developments have led to higher investments in research and development of recombinant DNA technology, further propelling the market during the forecast period.
Key players in the global recombinant DNA technology market include Novo Nordisk A/S, Eli Lilly & Company, Sanofi, Amgen Inc, Profacgen, Genscript, Novartis AG, Pfizer Inc, Merck & Co, and Cibus. These companies are constantly engaging in key development strategies, such as partnerships, collaborations, mergers, and acquisitions, to expand their market share and increase their revenue.
Market analysis shows that the global recombinant DNA technology market size is expected to grow at a CAGR of 7.31 during the forecast period 2021 – 2028. The market forecast is based on various factors, including increasing investments in research and development, the rising demand for biopharmaceuticals, and the increasing prevalence of chronic diseases.
The key developments in the global recombinant DNA technology market include the development of new technologies and the launch of innovative products. The market players are focusing on strategic collaborations and partnerships to expand their product portfolios and strengthen their market position.
In conclusion, the global recombinant DNA technology market is expected to witness significant growth during the forecast period due to the rising demand for protein production, potent therapeutics, and the increasing use of recombinant DNA in medicines. The key players in the market are implementing various key development strategies to increase their market share and revenue.
Based on the research, Verified Market Research® has segmented the global Recombinant DNA Technology Market into Product, Component, Application, And Geography.
- Recombinant DNA Technology Market, by Product
- Medical
- Non-Medical
- Recombinant DNA Technology Market, by Component
- Expression System
- Cloning Vector
- Recombinant DNA Technology Market, by Application
- Food & Agriculture
- Health & Diseases
- Environment
- Others
- Recombinant DNA Technology Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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