The growth of the recombinant protein market is attributed owing to increased expenditure in R&D, the growing prevalence of chronic diseases, rising inclination toward biologics and biosimilars, and advanced recombinant products.
R&D is defined as the process of creating new products, processes, and technologies that can be used and marketed for mankind’s benefit in the future. New drugs serving unmet medical needs are one of the key value drivers of research-based pharmaceutical companies. The increase in R&D investment in Asia, particularly China, and the consecutive annual growth in R&D spending in North America indicates a period of stability, security, and healthy competition across industrial sectors. Increased research and R&D investments in the life sciences industry are augmenting the growth of the market.
Key Market Trends
The Drug Discovery Segment is Expected to Grow at the Fastest Rate, Over the Forecast Period
The therapeutic application segment held a considerable share. Biopharmaceuticals have become bestsellers for the treatment of chronic conditions diabetes & cancers, and are forging their ways in the field of inflammatory disease management, such as psoriasis, multiple sclerosis, rheumatic diseases, and inflammatory bowel diseases. For instance, according to the American Diabetes Organization, in 2018, 34.2 million Americans, or 10.5% of the population, had diabetes. Furthermore, the introduction of recombinant proteins has revolutionized the development and manufacturing processes of biotherapeutics. The number of recombinant drugs is expected to grow further as multiple biologics & vaccines consisting of recombinant proteins are currently in the pipeline and are expected to get FDA approval. In the year 2018, FDA approved Leadiant Biosciences’ Elapegademase (Revcovi) and Leadiant Biosciences’ Elapegademase (Revcovi). Furthermore, Portola’ Coagulation factor Xa (Andexxa), and Bayer’s Anti-haemophilic factor (JIVI) also received CBER approval.
North American Region Holds the Largest Market Share of the Market, and is Believed to Follow the Same Trend over the Forecast Period
North America is expected to lead the global recombinant protein market, owing to the increasing expenditure in research. The United States is anticipated to witness the highest growth, owing to the largest concentration of world-class research universities and academic medical centers. In the North America region, the United States holds the largest market share due to factors such as increasing number of chronic diseases, along with a growing number of research and development programs in the country. Good funding from government to small and medium enterprises involved in recombinant developments followed by a good distribution channel of the companies with the hospitals are expected to drive the market in the region.
The recombinant protein market consists of several major players, including Eli Lilly and Company, Merck KGaA, and Novo Nordisk AS, among others. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which help them in strengthening their market position. For instance, in July 2018, the Abcam Merck together produced a PD-L1 antibody for immuno-oncology research.
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