DUBLIN (BUSINESS WIRE) The "Recombinant Proteins Market by Product (Growth Factors, Chemokines, Structural Proteins, Membrane Proteins), Application (Drug Discovery & Development, Biopharma Production, Research, Diagnostics), End User (Biotech, CROs) - Global Forecast to 2027" report has been added to ResearchAndM.
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The global recombinant proteins market is projected to reach USD 1.7 billion by 2026 from USD 1 billion in 2021, at a CAGR of 9.8% during the forecast period.
The market growth is primarily driven by factors such as increasing government investments and R&D expenditure in pharmaceutical & biotechnology companies, growing industry academia collaborations, and the patent expiry of biologic products.
Emerging markets in Asian countries and the rising focus on personalized medicine & protein therapeutics are other factors expected to offer strong growth opportunities for players in the recombinant proteins market. In contrast, the declining cost of recombinant proteins may restrict market growth to a certain extent.