Recombinant Proteins Market Share, Development, Demand and Growth Forecast to 2030

NEW YORK - March 30, 2023 - PRLog -- In 2022, the recombinant proteins market was worth around USD 1,367.3 million, and it is projected to advance at an 11.2% CAGR from 2022 to 2030, hitting USD 3,203.7 million in 2030, according to P&S Intelligence.

This development can be credited to the growing partnership between the pharmaceutical industry and universities and the increasing occurrence of primary communicable illnesses and hereditary disorders. Furthermore, the rising R&D on biological drugs and growing government expenditure for this purpose are projected to drive market growth.

The increasing occurrence of several rare syndromes, including neutropenia, multiple sclerosis, dwarfism, anemia, and cerebral apoplexy, is fuelling the demand for medications based on recombinant proteins.

In 2022, North America led the market, generating a revenue share of approximately 45%, mainly because of the increasing occurrence of communicable and chronic syndromes and supportive government steps. Moreover, the increasing need for these items in the R&D studies conducted by the KEY players is driving the industry in the continent.

Browse detailed report on Recombinant Proteins Market Growth and Demand Forecast to 2030 (https://www.psmarketresearch.com/market-analysis/recombin...)

The APAC industry is projected to grow at the fastest pace in the coming few years. This can be ascribed to the widespread development in pharmaceutical contract development and production efforts in the past few years.

Additionally, rising GDP per capita, government-supportive healthcare steps, and rapid urbanization rate have extended the potential for the acceptance of recombinant proteins in the region.

Hence, the growing partnership between the pharmaceutical industry and universities and the increasing occurrence of primary communicable illnesses and hereditary disorders, are the major factors driving the recombinant proteins market.