R&D Systems (US) and Thermo Fisher Scientific Inc. (US) are Leading Players in the Recombinant Proteins Market
The global recombinant proteins market is projected to reach USD 2.4 billion by 2027 from USD 1.4 billion in 2022, at a CAGR of 11.4% during the forecast period. Factors such as growing R&D investment by government bodies and an increasing number of drug discovery programs to develop therapeutic antibodies owing to patent expiry are expected to offer strong growth opportunities for players in the recombinant proteins market.
The global recombinant proteins market is consolidated. The prominent players operating in this market include R&D Systems (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Abcam plc (UK), Miltenyi Biotech (Germany), Sino Biological Inc. (China), Biolegend (US), Bio-Rad Laboratories, Inc. (US), GenScript Biotech Corporation (China), Enzo Life Sciences, Inc. (US), BPS Bioscience, Inc. (US), Proteintech Group, Inc. (US), Abnova Corporation (Taiwan), STEMCELL Technologies Inc (Canada), Other players operating in the market include RayBiotech Inc (US), CellGenix GmbH (Germany), ACROBiosystems (US), ProSpec-TechnoGene Ltd. (Israel), Neuromics (US), Laurus Bio (India), Icosagen AS (US), ProteoGenix (France), United States Biological (US), StressMarq Biosciences Inc (Canada), and Aviva Systems Biology Corporation (US)
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R&D Systems (US) is a subsidiary of Bio-Techne Corporation. The company is a leading player in the recombinant proteins market and offers a wide range of products. The company’s large share is attributed to its broad range of recombinant proteins and strong geographical presence. Between January 2019 and October 2022, the company focused on expansions as its key growth strategy. In October 2020, the company opened a new facility in Toronto to support the company’s product portfolio of life science tools and diagnostic reagents. The new facility will cater to Canadian-based academic and biopharma customers. In September 2020, the company opened a state-of-the-art GMP manufacturing facility in Minnesota, US. This facility will be utilized to boost the large-scale production of GMP-grade materials, including E. coli-derived recombinant proteins.
Thermo Fisher Scientific Inc. (US) is a prominent player in the recombinant proteins market, owing to its wide geographical presence, long-term market presence, and established product portfolio for recombinant proteins. The company caters to more than 400,000 customers in the pharmaceutical and biotechnology industry; hospitals, clinical diagnostics, and research laboratories; as well as universities and government agencies. The company adopted a combination of organic and inorganic growth strategies to maintain its leading position in the life sciences business. Furthermore, the company has developed a global footprint and aims to expand its customer base in emerging and high-growth regions. The company also acquired Peprotech in December 2021, expanding its presence in the recombinant protein market. The company’s focus on the Asia Pacific market is evident through the increasing share of Thermo Fisher’s revenue in this region.
Merck KGaA (Germany) is a prominent company, and its large market share can be attributed to the wide range of recombinant proteins offered. The company has a portfolio of more than 300,000 life science products that support a broad customer base. The company prominently focuses on expansions to strengthen its business. From January 2019 to October 2022, the company expanded its presence in the US, China, Switzerland, The UAE, the UK, and Brazil. Also, the company specifically focuses on the high-growth Asia Pacific region to increase its market share and revenue. In the last three years, the company opened its life science centers in China, India, South Korea, and Singapore to facilitate the supply of its products in the region.
Abcam plc (UK) has around 750,000 global research scientists, which are based within academic, research, government, and biopharmaceutical organizations. The company is actively collaborating with researchers and developing its portfolio to meet customer needs. For instance, in 2019, Abcam partnered with BrickBio, Inc. (US) to introduce conjugation-ready sites into antibodies and other proteins in both mammalian and bacterial expression systems. In 2018, the company partnered with Roche (Switzerland) to obtain exclusive rights to the product portfolio of Spring Bioscience Corporation (Roche) for research use only (RUO).
Related Reports:
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
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