Posted 2/20/2024, 6:01:00 AM
Recombinant Protein Market Set to Surge to Over $700 Billion by 2033 Driven by Biomedical Innovation
- Recombinant proteins market valued at $205B in 2023, projected to reach $704.6B by 2033 with a CAGR of 13.5%
- Rising demand in diagnostics and research due to advances in immuno-oncology and precision medicine
- Technological improvements in recombinant DNA techniques enhancing efficiency and cost-effectiveness
- Expensive production costs can limit accessibility and uptake of recombinant proteins
- North America dominates with 34.5% market share, driven by strong biotech sector and research investments