Published Date : 08 Apr 2024
The global recombinant DNA technology market size exceeded USD 798.49 billion in 2023 and is predicted to be worth around USD 1,395.50 billion by 2032, expanding at a CAGR of 6.40% from 2023 to 2032.
The recombinant DNA technology market is divided into components, products, end users, applications, and regions. In addition, the treatment strategies are developed by improving diagnostics kits, therapeutic approaches, and monitoring devices. Several companies are benefiting from the research assisted on genetically modified organisms, such microorganisms expected as clean bio degraders and fuel producers. Increasing applications of recombinant DNA for the treatment of several diseases and the increased investment in research are important factors. In addition, the growing trend of acquisitions and strategic mergers is anticipated to enhance market growth during the forecast period. The use of this technology in the healthcare industry has supplied many effective medicines for various kinds of illnesses.
North America dominated the recombinant DNA technology market in 2023, due to the presence of a huge number of biopharmaceutical manufacturing industries and the presence of productive regulatory bodies to guide the various scientific and ethical concerns about the use of recombinant DNA technology.
In the U.S., many new plant varieties being grown or developed by farmers have been manufactured using genetic engineering, which includes engineering new plant genes through techniques of advanced molecular biology, often referred to as recombinant DNA technology. The U.S. Department of Agriculture supports the appropriate and safe use of technology and science, involving biotechnology, to help customer needs and agricultural challenges of the 21st century. The US Department of Agriculture plays an important role in ensuring that biotechnology products and plants are used in the United States. Once these products and plants enter commerce, the US Department of agriculture supports bringing other products to the worldwide marketplace.
In Canada, the development of recombinant DNA techniques, enabling the production of animals and plants with newly developed traits, is developing the world of animal and plant breeding and rapidly improving to commercial reality. The government of Canada views recombinating DNA as another tool that will join the latest methods used to improve desirable traits in animals and plants. This is due to Canada's cusses on the possible risk resulting from the originality of the trait. The Canadian Food Inspection Agency is accountable for the management of the environmental release of plants with novel livestock and novel features, while Health Canada is accountable for the management of novel foods.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 798.49 Billion |
| Projected Forecast Revenue by 2032 | USD 1,395.50 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 6.40% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver
Rising technological developments
Recombinant DNA technology was just a creation that profitable features could be developed in living bodies by managing the expressions of target genes in the past century. But this field has authenticated unique impacts in bringing development in human life. Important proteins needed for health issues and dietary purposes can be produced sufficiently, affordably, and safely by this recombinant DNA technology. This technology has various disciplinary applications and the potential to manage important parts of life, such as divergent adverse environmental impacts, enhancing food resources, and developing health. Genetically modified plants have supplemented resistance to harmful agents, shown increased adaptability, and enhanced product yield, especially in agriculture.
In addition, recombinant pharmaceuticals are now being used rapidly, attaining commercial agreements. Techniques of recombinant DNA technology, genetic modifications, and gene therapy are also used to treat serious patients and bioremediation. These rapid developments and a broad range of applications drive the recombinant DNA technology market growth.
Rising demand from end-use industries
The recombinant DNA technology is used in several industries. It includes agriculture, healthcare, and pharmaceutical industries. The increasing demand for products from these industries is an important driver of the market. For instance, recombinant DNA technology is used to manufacture insulins and hormones. They are essential for maintaining blood sugar levels. More and more industries are emerging that use rDNA technologies for betterment.
Increasing prevalence of chronic diseases
The increasing prevalence of chronic diseases has directly enhanced the demand and growth of the market. The increasing geriatric population, sedentary lifestyle, and obesity these major factors are responsible for chronic diseases and hence help to drive the growth of the recombinant DNA technology market. The cases of cancer are increasing day by day and need attention from researchers and healthcare professionals. One of the biggest causes of death, cancer, a chronic condition, can be cured, prevented, or monitored with the help of recombinant DNA technology.
Restraint
Opposition to genetic modification
The ethical result of genetic opposition and the modification to it have gained importance. This is especially true for the use of recombinant DNA technology, which has been met with the aggression of regulatory barriers and government strategies that present significant barriers to the field of study. The potential advantages of gene moderation are vast, but the recognized risks related to it have sparked opposition from various sectors of society. Religious groups, for instance, view it as immoral and opposite to the natural order of things, while others doubt the morality of playing God and tampering with human existence. These factors may restrain the growth of the recombinant DNA technology market.
Opportunities
Utilizing recombinant DNA technology to develop personalized medicines
The personalized medicine revolution practice includes adapting treatment plans to each patient's demands. Recombinant DNA technology has played an important role in the development of personalized medicine, enabling the reorganization of specific genetic mutations and the creation of targeted therapies for specific disorders. Such personalized medicines will be more effective in reducing recovery time and enhancing the quality of treatment and life. Professionals will be able to provide better solutions, ultimately leading to increased patient satisfaction.
Increased research and development to identify new applications
The requirement for development and research to identify new applications of technology increases due to the growing capabilities of recombinant DNA technology. This involves investigating new techniques to use recombinant DNA technology to develop new treatments for a wide range of diseases, as well as the potential for the technology to be used in industries outside of healthcare. The use of AI, machine learning, cloud computing, IoT, and other technologies can increase the speed and accuracy of the R&D processes.
Market Segmentation
By Product
By Component
By Application
By End User
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