Recombinant Protein Market Size, Share, Growth Analysis, By Product (Cytokines & Growth Factors, Antibodies), By Application (Drug Discovery & Development, Biopharmaceutical Production), By Region - Industry Forecast 2024-2031

Driver

Increasing demand for Biopharmaceuticals and R&D investment to fuel the recombinant protein market.

• The market has seen a consistent increase in R&D expenditure and funding in pharmaceutical and biotechnological firms throughout the period. The number of regulatory requirements has increased dramatically in recent years, expanding a lot of choices to those with unusual illnesses like hemophilia and other bleeding disorders. 
• The growing demand for biopharmaceuticals comprising recombinant proteins is growing due to their high potency, specificity, and lower side effects as compared with traditional small molecule drugs. Following, as a result, recombinant protein drugs are developed for a wide range of diseases including autoimmune disorders, infectious diseases, and cancer.

Restraint 

Decreasing cost of recombinant protein and lack of professionals to limit the market growth.

• When a large number of key players enter a limited market and offer comparative products, price competition occurs. In these conditions, the cost of such items appears to be gradually lowering, limiting the expansion of the recombinant protein market. 
• The shortage of trained medical specialists in the field of recombinant proteins also stifles industrial progress.