Recombinant Proteins Market Share

North American Market Forecast

The recombinant proteins in the North America region, amongst the market in all the other regions, is projected to hold the largest market share of about 35% by the end of 2037. The regional growth can majorly be attributed to the growing population and research activity, health insurance covering various cancer diagnoses and related treatments requiring recombinant proteins. Rising economic status and affordability of advanced treatments for patients are estimated to boost the growth of the market in the region during the forecast period. According to the U.S. Bureau of Economic Analysis, personal income in the U.S. in August 2022 grew at a rate of 0.3% to reach USD 71.6 billion, while personal spending was observed to grow at a rate of 0.4% to reach USD 6.75 billion. In the United States, 1,752,735 new cancer cases were reported in 2019 and 599,589 people died from cancer, which is a chronic disease. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through treatment of chronic diseases, which encourages the patients to opt for advanced treatment methods. Hence, this is also estimated to add to the regional market growth significantly.

APAC Market Statistics

The recombinant proteins in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the second largest share of about 24% during the forecast period. The growth of the market in this region can primarily be attributed to the increasing demand for biopharmaceuticals. The demand for biopharmaceuticals is increasing rapidly in the Asia Pacific region, driven by the increasing prevalence of chronic diseases and the aging population. Biopharmaceuticals, including recombinant proteins, are being used to treat a range of diseases such as cancer, diabetes, and autoimmune disorders. The biotech industry in the Asia Pacific region is rapidly growing, driven by government initiatives and increasing investment in research and development. This growth is creating opportunities for the development and production of recombinant proteins. Many biopharmaceutical companies in the US and Europe are outsourcing their research and development activities to the Asia Pacific region owing to lower costs and favorable regulatory environments. This outsourcing is anticipated to drive the growth of the recombinant proteins market in the region.

Europe Market Forecast

Further, the recombinant proteins in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the advancements in technology in the region. Europe is home to some of the world's leading biopharmaceutical companies, and these companies are investing heavily in research and development to improve the efficiency and productivity of the production of recombinant proteins. This investment is driving the growth of the regional market. Europe has a well-established regulatory framework for the development and production of biopharmaceuticals, including recombinant proteins. This framework has encouraged investment in the region and contributed to the growth of the market. The biotech industry in Europe is growing rapidly, driven by government initiatives and increasing investment in research and development. This growth is creating opportunities for the development and production of recombinant proteins. Overall, the recombinant proteins market in Europe is expected to continue to grow steadily, driven by increasing demand for biopharmaceuticals, advancements in technology, and favorable regulatory environments.