Recombinant DNA technology (RDT) is essential for improving health conditions, primarily by developing new vaccines and pharmaceuticals. Moreover, the treatment strategies are improved by developing diagnostics kits, monitoring devices, and new therapeutic approaches. Additionally, many other industries are benefiting from the research conducted on genetically modified organisms (GMO), such as microorganisms that are considered as clean fuel producers and bio degraders. Genetically modified vaccines are developed for curing various diseases in humans and plants. The recombinant DNA technology created several potential innovation opportunities for developing a wide range of therapeutic products, with immediate effect in medical genetics and biomedicine, by modifying microorganisms, animals, and plants, in order to yield medically useful substances. Therefore, the increasing demand and application of RDT in various sectors are driving the growth of the market studied.
Key Market Trends
The Food and Agriculture segment is Expected to Register the Highest CAGR over the Forecast period
In agriculture, the development of genetically modified crops, in order to improve both yield and resistance to pests or herbicides, is gaining a high degree of public acceptance. The genetically modified tomato, CGN-89564-2, was the first commercially grown, genetically engineered crop product to be granted a license for human consumption. Additionally, DNA molecular marker technology is important for preservation, identification, evaluation, mining, and innovation of plant germplasm resources. The introduction of a genetically modified fruit paved the way for the use of GMOs in food. Currently, genetic modification is witnessing a widespread adoption. Thus, increasing the application of RDT in agriculture and food is expected to drive the growth of the market studied.
The North American region is Expected to Dominate the Market Over the Forecast Period
The North American region is expected to dominate the market studied over the forecast period. In the North America region, the United States accounts for the largest market share, primarily due to the presence of numerous biopharmaceutical manufacturing companies and the presence of effective regulatory bodies to monitor the various ethical and scientific concerns, pertaining to the use of technology. This is expected to drive the market’s growth, especially in the North American region.
The Recombinant DNA (rDNA) Technology market is competitive, with the presence of both major players and small players. In terms of market share, the major players are currently dominating the market. Some of the major market players include GenScript, New England Biolabs, GlaxoSmithKline Plc, Pfizer, and Sanofi, among others.
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