DUBLIN--(BUSINESS WIRE)--The "Recombinant Protein Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The growth of the recombinant protein market is attributed due to increased expenditure in R&D, the growing prevalence of chronic diseases, rising inclination toward biologics and biosimilars, and advanced recombinant products.
New drugs serving unmet medical needs are one of the key value drivers of research-based pharmaceutical companies. The rate of growth in R&D funding, in 2015, and the location of that growth are both significant. Trends are showing a return to growth, with only minor caution, across most areas of R&D spending.
The increase in R&D investment in Asia, particularly China, and the consecutive annual growth in R&D spending in North America indicates a period of stability, security, and healthy competition across industrial sectors.
As per the 2016 Global R&D Funding Forecast, this year, sponsored by the Industrial Research Institute (IRI), Washington, DC, reveals that global R&D investments may increase by 3.5% in 2016, to a total of USD 1.948 trillion in purchasing power parity (PPP) values for more than 110 countries having significant R&D investments (more than USD 100 million). Thus, increased research and R&D investments in the life sciences industry are augmenting the growth of the market.
Key Market Trends
The Drug Discovery Segment is Expected to Grow at the Fastest Rate, during the Forecast Period
The basic research segment held a maximum share in 2018, owing to the increasing investment on research activities and the introduction of new protein therapeutics, which has significantly contributed in the growth and development of recombinant therapeutic antibodies and proteins market.
The drug discovery segment is projected to show significant growth during the forecast period, owing to the strong demand for recombinant proteins in drug discovery. Furthermore, companies are also collaborating for drug discovery and development purposes. For instance, in 2017, Crown Bioscience (CBI) Inc. entered into a collaboration with Jiangsu Qyun Bio-Pharmaceutical Co. Ltd, to develop CTLA-4 antibody.
North American Region Holds the Largest Market Share of the Market and is Believed to Follow the Same Trend over the Forecast Period
North America is expected to lead the global recombinant protein market, owing to the increased expenditure in research. The United States is anticipated to witness the highest growth, owing to the largest concentration of world-class research universities and academic medical centers.
The R&D spending of the United States is around 2.7% of its gross domestic product (GDP). In 2014, the United States was leading the R&D investments in biotechnology and, since then, the US biotechnology research and investment has been growing at a steady rate. Development of new products and collaboration activities of biotechnology companies are likely to boost the growth of the recombinant protein market.
The recombinant protein market consists of several major players, including Eli Lilly and Company, Merck KGaA, and Novo Nordisk AS, among others. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which help them in strengthening their market position. For instance, in July 2018, the Abcam Merck together produced PD-L1 antibody for immuno-oncology research.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Expenditure in Research and Development
4.2.2 Growing Prevalence of Chronic Diseases
4.2.3 Rising Inclination toward Biologics and Biosimilars
4.2.4 Advanced Recombinant Products
4.3 Market Restraints
4.3.1 Expensive and Time-consuming Production Process
4.3.2 Safety Issues
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type of Product
5.1.2 Growth Factor
5.1.6 Other Type of Products
5.2 By Application
5.2.1 Basic Research
5.2.2 Therapeutic Use
5.2.3 Drug Discovery
5.2.4 Biotechnology Industry
5.2.5 Other Applications
5.3.1 North America
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abcam PLC
6.1.2 Abnova Corporation
6.1.3 Eli Lilly and Company
6.1.4 Enzo Life Sciences Inc.
6.1.5 Eurogentec (Kaneka Corporation)
6.1.6 Merck KGaA
6.1.7 Novo Nordisk AS
6.1.8 ProSpec-Tany TechnoGene Ltd.
6.1.9 ProSpec-Tany TechnoGene Ltd.
6.1.10 F. Hoffmann-La Roche AG
6.1.11 Thermo Fisher Scientific Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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