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The market for recombinant DNA technology is being driven by rising research and development activities to cure or alleviate diseases such as cancer and other immunodeficiency ailments. Developments in genetically engineered human insulin to treat diabetes and the success rate of the treatment has triggered the innovation of several other drugs, which is also fuelling the market growth.
Furthermore, the application of recombinant DNA technology to produce genetically modified crops that are rich in quality is also providing further impetus to the market growth. The use of recombinant DNA technology in agricultural activities has led to cost-efficient production, thus, adding to the market growth. In addition to its rising adoption in downstream sectors, the technology have no negative impact on the environment or human health, further spurring the market growth of recombinant DNA technology.
In 2020, one of the leading companies in recombinant DNA technology, Sanofi (OTCMKTS: SNYNF) collaborated with GSK to develop an adjuvanted COVID-19 vaccine using innovative and advanced technologies. Sanofi used its S-protein COVID-19 antigen based on recombinant DNA technology. The technology has produced an exact match to the proteins found in the virus, and further proceedings will take place with the help of the baculovirus expression platform. Sanofi’s initiative to develop a vaccine against coronavirus is a major breakthrough for the company and is expected to propel the overall growth of the industry in the coming years. The development of recombinant-based COVID-19 vaccine by Sanofi is being supported by Biomedical Advanced Research and Development Authority (BARDA). Such government aid in the form of investments is expected to further aid the market growth of recombinant DNA technology over the forecast period.
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The major players in the global recombinant DNA technology market are Sanofi, Amgen Inc., Genentech Inc., GenScript, and Profacgen, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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