Global Recombinant DNA Technology Market, by Product Type (Recombinant Protein Drugs, Vaccines, Genetically Modified Crops, Expression Systems, Cell and Gene Therapy and Gene Editing), by Application (Therapeutics, Agriculture, and Research), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 145.4 Billion in 2022 and is expected to exhibit a CAGR of 7.9% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased distribution agreements and collaboration amongst the key players in the market is expected to drive the market growth over the forecast period. For instance, in May 2022, according to data published by National Center for Biotechnology Information, Biopharma has been quickly ramping up investment in messenger RNA (mRNA), the defining technology behind the Moderna and Pfizer-BioNTech SARS-CoV-2 vaccines. After collaborating with Translate Bio, a clinical-stage mRNA therapeutics company on an mRNA platform in 2018, Sanofi multinational healthcare company, based in French purchased the company for US$3.2 billion in year 2021 and established a first-of-its-kind mRNA Center of Excellence.
Global Recombinant DNA technology Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the global recombinant DNA technology market, owing to increasing in vaccines development of Covid-19 vaccines. For instance, in May 2021, according to article published by the World Health Organization, SK Bioscience Co. Ltd. developed COVID-19 Vaccine -ChAdOx1-S (recombinant) using recombinant DNA technology. Serum Institute of India Pvt. Ltd., biotechnology and biopharmaceuticals company COVISHIELD, ChAdOx1 nCoV-19 Corona Virus Vaccine (Recombinant), using recombinant technology.
Global Recombinant DNA technology Market: Key Developments
In May 2022, PharmaJet, a biotech company that has developed a more effective way of administering drugs and biologics with their innovative, needle-free injection technology, announced that its partner, the Institute for Molecular Medicine (IMM) was awarded a US$12 million grant from the National Institute on Aging (NIA) division of the National Institutes of Health (NIH). The grant supports clinical trials of their beta-amyloid vaccines based on DNA and recombinant protein for the prevention of Alzheimer’s disease (AD). A phase 1 clinical study in the U.S. is expected to begin in second quarter of 2022 and the vaccine will be exclusively delivered by the PharmaJet Tropis needle-free injection system.
Browse 38 Market Data Tables and 26 Figures spread through 183 Pages and in-depth TOC on “Global Recombinant DNA technology Market”- Forecast to 2030, Global Recombinant DNA technology Market, by Product Type (Recombinant Protein Drugs, Vaccines, Genetically Modified Crops, Expression Systems, Cell and Gene Therapy and Gene Editing), by Application (Therapeutics, Agriculture, and Research), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing adoption of inorganic growth strategies such as acquisitions is expected to drive the market growth over the forecast period. For instance, 30 December, 2021, Thermo Fisher Scientific Inc., an American supplier of scientific instrumentation, reagents and consumables, and software services, acquired PeproTech, Inc., a producer of high quality recombinant cytokines and growth factors supports life science research, cellular therapy and regenerative medicine on 30 December, 2021, for a total cash purchase price of approximately US$1.85 billion. PeproTech is a privately held provider of bioscience reagents known as recombinant proteins, including cytokines and growth factors. The acquisition is beneficial for PeproTech, Inc., as PeproTech's recombinant proteins portfolio complements Thermo Fisher's cell culture media products and will enable Thermo Fisher to provide customers significant advantages through an integrated offering.
Key Takeaways of the Global Recombinant DNA technology Market: