Market Outlook
The industrial recombinant protein is a controlled form of protein, which is created in many ways to produce proteins in larger quantities. It is also being used at large in the modification of gene and in many useful commercial products as these proteins take a very short time to develop as compared to other types. The process involved in the formation of an industrial recombinant protein is called recombinant technology. The industrial recombinant protein market is gaining a lot of demand and attention across the world as industrial recombinant proteins and its products have diverse applications in the industries such as food, pesticides, pharmaceutical, veterinary, agriculture and detergents. Manufacturers of industrial recombinant protein have great opportunities for business in these sectors. The countries like the US, Mexico, Canada France, Italy, and many others who spend a lot of money on research are playing a key role in driving the industrial recombinant protein market. Some of the companies that are leading industrial recombinant protein market are Eli Lilly and Company, Abnova Corporation, Biologics International Corp, and Genemed Biotechnologies, Inc.
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Increased Demand in Industrial Recombinant Protein Market
Over the years, industrial recombinant protein has gained a lot of attention. The key driver of industrial recombinant protein market is the increase in the expenditure on research & development and the increased use and applications of industrial recombinant protein in pharmaceutical, agriculture and food industries. There is a hike in chronic diseases amongst people across the world which has led to growth in the industrial recombinant protein market as these proteins are essential in curing the chronic illness. Many economies are inclining towards biotechnology across the world which is also one of the drivers of the industrial recombinant protein market. The main restraint of industrial recombinant protein is that the production process requires excessive cost and time, but researchers and existing manufacturers are continuously working towards more affordable and less time-consuming options.
Global Industrial Recombinant Protein Market: Market Segmentation
Industrial recombinant protein market segmentation on the basis of the end user:
- Food
- Animal Food
- Human Food
- Agriculture
- Pharmaceuticals
Industrial recombinant protein market segmentation on the basis of the application:
- Basic Research & Development
- Biotechnology
- Drug discovery
Industrial recombinant protein market segmentation on the basis of the type:
- 14-3-3 beta recombinant protein
- 14-3-3 protein epsilon recombinant protein
- 15-PGDH recombinant protein
- Others (17-beta HSD 10 recombinant protein, 2 hydroxyacyl CoA lyase 1 recombinant protein, 41BB receptor recombinant protein)
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Global Industrial Recombinant Protein Market: Key Players
Some of the leading players in the industrial recombinant protein market are Prospec-Tany Technogene Ltd., Novo Nordisk A/S, Novoprotein, Merck KGaA, Kaneka Corporation, Enzo Life Sciences, Inc., Eli Lilly and Company, Abnova Corporation, Biologics International Corp, and, Genemed Biotechnologies, Inc. Novo Nordisk A/S is currently looking for partners so as to innovate together in this area and develop and expand their research.
Opportunities for Market Participants
The countries like the US, China, Canada, and France are spending a huge amount of money on research & development of industrial recombinant Protein to find innovative ways for reducing the cost and time in the production of industrial recombinant proteins. Looking at the positive impact of industrial recombinant protein on chronic diseases, the usage of the industrial recombinant protein is increasing exponentially in food and drugs. This is where industrial recombinant proteins have a huge market to cater to. Manufacturers have a lot of opportunities in underdeveloped and developing countries where there are fewer resources available for the pharmaceutical, and food industries to get the industrial recombinant protein. Industrial recombinant proteins are also being used in the agriculture industry which is the primary source of income to the Asian and South African countries. This gives market entrants and existing players a huge platform to enter into industrial recombinant protein market. In addition to this, here is an upsurge in the drug discovery due to more need of medicines across the globe, which is taking the industrial recombinant protein market to a different level. Manufacturers even have good opportunities in detergent making companies as these companies also use industrial recombinant proteins for getting better results.
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