Recombinant DNA Technology Market – Overview
The breakthroughs in genetic research have opened up new avenues for the development of recombinant DNA technology. Market reports connected with the healthcare industry have been made accessible by Market Research Future who publishes reports on other sectors that have been recently put out along with a report on this industry. The market is proposed to expand at a CAGR of approximately 6.9 percent over the forecast period.
As the domain of genetics had been relatively unchartered due to lack of proper expertise and technology, the presence of these factors in abundance currently is fostering optimistic market growth. Development of topnotch research laboratories worldwide is adding impetus to the progress of the market. Rising focus on function, gene structure, expression pattern, and regulation are forecasted to add to the market expansion over the forecast period beneficially.
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Competitive Analysis
The fundamental success factors and players’ inclinations are gradually improving by the strategies being used by market players. The market has entered in a new period of growth as the market is constantly in a state of mutability. The external factors that are inspiring the market expansion which is contingent on the practices and the strategic roadmaps that are exploited by market competitors. The key players in the market are Profacgen (U.S.), Amgen Inc. (U.S.), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Pfizer Inc. (U.S.), Genscript Biotech (U.S.), Eli Lilly and Company (U.S.), Merck & Co., Inc. (U.S.), Boehringer Ingelheim (Germany), Biogen Inc. (U.S.), New England Biolabs (U.S.), Sanofi S.A. (France), Biocon Limited (India), GlaxoSmithKline plc (UK), Cibus (U.S.), Monsanto Company (U.S.) and others.
Industry Updates:
Aug 2018 Profacgen has organized a team of experienced protein biologists to offer a comprehensive portfolio of expression systems that will address the increasing need for quality protein expression systems for recombinant DNAs.
Segmental Analysis
The segmentation of the market for recombinant DNA technology is segmented on the basis of component, application, product, and end-user. By product, the market is segmented into non-medical, medical, and others. On the basis of component, the market is segmented into cloning vector, expression system, and others. By application, the market is segmented into food and agriculture, environment, health and disease, and others. On the basis of end user, the market is segmented into academic and government research institutes, biotechnology companies, pharmaceuticals, and others.
Detailed Regional Analysis
The Americas region is responsible for a majority portion of the market owing to the predominantly effective applications of this technique in genetically modified crops’ development and gene therapy to name a few. The European market controls the next principal share of the market owing to the growing investments by hospital facilities and government for improved healthcare. The rising collaborations and partnerships, the low cost of sequencing, and the collective adoption of NGS procedure by research laboratories are driving the growth of this market. The Asia Pacific region is projected to witness a rapid growth rate due to countries such as India and China are that are supporting the development of the Asia Pacific region due to the growing government funding for research and development. Moreover, conducting clinical trials in Asian countries such as India are relatively less costly in comparison with the western countries, which has led to the migration of several global biopharmaceutical developers towards this region. The Middle East and Africa are probable to show healthy growth in the coming five years.
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