Recombinant DNA Technology Market to Grow Due to Shifting Focus Over Product Development byKey Players
Market Overview:
Recombinant
DNA technology articulates DNA molecules from two different species that are
introduced into the host organism to produce a new genetic combination with
broad application. Market Research Future reported that the
global recombinant DNA technology market is expected to attain a CAGR of 6.9%
during the forecast 2017-2023.
Recombinant
DNA technology has many applications in agriculture; to produce Bat cotton that
protects the plants against pests. It is widely used in drug production, gene
therapy, and clinical diagnosis.
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Growing
demand for recombinant and genetically modified products for human health,
nutrition and agriculture is expected to stimulate growth in the global
recombinant DNA technology market over the forecast period. In addition,
increased government funding for the use of Recombinant
DNA Technology Market to address various food, health, and
environmental issues is expected to stimulate market growth. Manufacturing
companies that focus on product development using recombinant DNA technology
for a variety of chronic diseases should accelerate market growth over the
forecast period.
Major Players:
F. Hoffmann-La Roche Ltd, Profacgen, Amgen Inc., Pfizer Inc.,
Novartis AG, Genscript Biotech,Sanofi S.A., Novo Nordisk A/S, Merck & Co.,
Inc., Biogen Inc., Biocon Limited, Eli Lilly and Company, GlaxoSmithKline plc, Cibus,New
England Biolabs, Horizon Discovery Group PLC, Boehringer Ingelheim,Monsanto
Company, and others.
Segmentation:
·
The global recombinant DNA
technology market is broadly segmented based on multiple factors such as
product, component, application, and end-user.
·
The product segment of the
global recombinant DNA technology market is bifurcated into medical and non-medical.
Further, the medical is sub-segmented into vaccines, therapeutic agents, and human
proteins. The non-medical sub-segment is classified into specialty chemicals
and biotech crops.
·
Based on the component, the global
recombinant DNA technology market is bifurcated into cloning vector, expression
system, and others. The cloning vector sub-segment is divided asYeast
Artificial Chromosome (YAC), plasmid, cosmid, phage,Human Artificial Chromosome
(HAC), and Bacterial Artificial Chromosome (BAC). The expression system
sub-segment is classified into yeast, bacteria mammalian, and baculovirus/insect.
·
The application segment of the global
recombinant DNA technology market is bifurcated into disease, food and
agriculture, environment, andhealth.
·
The global recombinant DNA
technology market, based on end-users, is also bifurcated as government
research institutes, biotechnology companies, pharmaceuticals,and universities.
Regional Analysis:
The
Americas has the largest share in the global recombinant DNA technology market
due to the effective regulation of the registration of recombinant therapeutic
products and other genetically modified (GM) products. Presence of some leading
key players operating in this sector contributes to the growth of the
recombinant DNA technology market in the region.
In
addition, there is a growing need to improve recombinant protein production
capacity several times in Europe. Growing demand for effective treatments for
disease treatment and technological progress in this sector should lead to the
growth of the European market for recombinant DNA technology.
The
Asia Pacific region is expected to become the fastest-growing regional market
for the global recombinant DNA technology market. Raising awareness about the
growth of genetic diseases and disorders, developing health infrastructure,
increasing healthcare spending, strengthening government initiatives to improve
public health, and progress in the medical field stimulates market growth.
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