Recombinant DNA technology is widely used for betterment of crop making it more drought and heat resistance. Furthermore, it is widely used in treatment and cure of sickle cell anemia, cystic fibrosis. It also helps production of insulin. Recombinant DNA technology is a technique which involves introduction of a foreign piece of DNA structure into the host organism. The global recombinant DNA technology market report has been segmented on the basis of component, product, application, end-user, and region.
Technological advancements in gene editing tools and wide use of recombinant insulin in the treatment of diabetes are factors expected to drive the market growth over the forecast period. Increasing demand coupled with wide application of products with recombinant DNA technology is expected to boost the market growth over the forecast period.
Application segment includes health and disease, food and agriculture, and environment. The health and disease segment is expected to contribute major market share owing to continuous product innovations by pharmaceutical and biopharmaceutical industry and robust recombinant product pipeline which includes vaccines, drugs for the treatment of human disease.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing to the presence of dominant players in the region. Asia Pacific region is expected to witness rapid growth rate over the forecast period. Countries like India, China is expected to support the growth of Asia Pacific, owing to the increasing government funding for research and development.
Some prominent players in the global recombinant DNA technology market are Profacgen, Monsanto Company, F. Hoffmann-La Roche AG, Biogen Inc., Amgen Inc., Novartis AG, Eli Lilly and Company, Novo Nordisk A/S, Sanofi SA, and Merck & Co., Inc.