Recombinant Proteins Market Trends

Growth Drivers

• Prevalence of Cancer Worldwide – In the year 2019, 18 million new cancer cases and 10 million cancer deaths were observed worldwide. Population growth and aging worldwide alone are expected to result in 27.5 million new cancer cases and 16.3 million cancer deaths. The increasing prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders is driving demand for biologic drugs, including recombinant proteins. For instance, the global industry for cancer treatment is expected to reach nearly USD 120 billion by the year 2025, with recombinant proteins playing a significant role in cancer treatment.

• Rising Health Expenditure – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. The boom will continue during the forecast period.

• Increasing Investments - in development of biopharmaceuticals and recombinant proteins are expected to drive market growth. For instance, the US government has pledged nearly USD 1.7 billion to support the development of COVID-19 treatments and vaccines, with a significant portion of this funding allocated to the development of recombinant protein-based therapies.
• Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for recombinant proteins. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.
• Prevalence of Genetic Rare Diseases – Over 400 million people worldwide suffer from rare genetic diseases. This figure explains the urgent need for improved treatment and clinical settings and health awareness. The need for advanced research and knowledge of drug mechanisms of action is an important tool in drug development. Many regions have developed biobanks from cohort programs to provide researchers with high-quality samples and revolutionize therapeutic efforts. This may lead to increased interest in discovering biomarkers for various diseases. For instance, in August 2022, Ayvakit received FDA approval for the treatment of systemic mastocytosis, a rare blood disorder.

Challenges

• High development costs: The development of recombinant proteins is a complex and expensive process that involves research and development, clinical trials, and regulatory approval. This can result in high development costs, which can make it difficult for smaller companies or organizations to enter the market.

• Limited availability of manufacturing capacity

• Regulatory challenges