Market Leaders - Recombinant Proteins Market
The recombinant proteins market is projected to reach USD 3.2 Billion by 2028 from USD 2.2 Billion in 2023, at a CAGR of 7.2% during the forecast period. Growth in the recombinant proteins market can be attributed to factors such as rising incidence of chronic diseases, increasing demand for biologics and biosimilars due to patent expirations, increasing government support for R&D and growing preference for personalized medicine.
The recombinant proteins market is competitive The prominent players operating in this market include Bio-techne (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Abcam plc (UK), Abnova Corporation (Taiwan), Biolegend Inc (US), Bio-Rad Laboratories, Inc. (US), BPS Bioscience, Inc. (US), Enzo Biochem, Inc. (US), GenScript (China), Miltenyi Biotec B.V. & Co. KG (Germany), Proteintech Group, Inc. (US), Sino Biological Inc. (China) (Canada) and among others. The key players of this market are majorly focusing on collaborations, acquisition, partnership, agreement, expansion and advancements in recombinant proteins technology.
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Thermofisher Scientific Inc (US)
Thermo Fisher Scientific (US) held a dominant position in the market in 2023. The company adopts organic and inorganic growth strategies to maintain its dominant position in the market. The company caters to more than 400,000 customers in the pharmaceutical and biotechnology industry; hospitals, clinical diagnostics, and research laboratories; and universities and government agencies. The company offers recombinant protein solutions through its Life Science business segment, which is its highest revenue generator. For instance, in 2023, Thermo Fisher Scientific Inc (US) acquired Olink Holding AB (Sweden) to advance capabilities in proteomics discovery & development.
Merck KGaA (Germany)
Merck KGaA (Germany) held a leading position in the recombinant proteins market. The company offers an array of recombinant proteins and has a portfolio of more than 300,000 products offered through Life Science Research business segment. The company focuses on the high-growth Asia Pacific region to increase its market share and revenue. For instance, in 2023, Merck KGaA (Germany) opened a New Biologics Testing Center in Shangai, China, that enabled clients to access a broad range of local testing services.
Bio-Techne (US)
Bio-Techne (US) is also one of the key players in the recombinant proteins market in 2023. The company has been able to build a strong customer base, owing to its broad range of recombinant proteins offering along with adoption of organic & inorganic strategies. For instance, in 2023, Bio-Techne (US) and Cell Signaling (US) partnered to allow researchers to validate simple Western antibodies. Also in 2021, Bio-techne (US) opened a new distribution hub facility in Dublin, Ireland for supporting the life sciences industry in Europe.
Related Reports:
Recombinant Proteins Market by Product (Growth Factors, Chemokines, Structural Proteins, Membrane Proteins), Application (Drug Discovery & Development (Biologics, Vaccines, Cell & Gene Therapy), Research, Biopharma Production) & Region - Global Forecast to 2028
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