Market Size of Global Recombinant DNA (rDNA) Technology Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Recombinant DNA (rDNA) Technology Market Analysis
The recombinant DNA (rDNA) technology market is projected to register a CAGR of 6.8% during the forecast period (2022-2027).
The COVID-19 pandemic had a positive impact on the market studied, as it increased the demand for recombinant DNA technology in the development of therapeutics and diagnostics. For instance, in November 2020, a research paper published in the United States National Library of Medicine titled "Recombinant vaccines for COVID-19" stated that the recombinant COVID-19 vaccine can overcome limitations and the safety concerns associated with other vaccines. Moreover, many COVID-19 vaccines have been manufactured by several companies based on recombinant DNA technology. Likewise, as per the article titled "A review on Promising vaccine development progress for COVID-19 disease" published in November 2020 in the National Library of Medicine, the COVID-19 vaccines are being developed using cutting-edge recombinant technology, in addition, to live vectored and inactivated viruses. Hence, such factors are ultimately boosting the demand for recombinant DNA technology in developing vaccines for COVID-19, thereby boosting the market growth over the coming years.
Recombinant DNA technology (RDT) is essential for improving health conditions, primarily by developing new vaccines and pharmaceuticals. Moreover, the treatment strategies are improved by developing diagnostics kits, monitoring devices, and new therapeutic approaches. Additionally, many other industries are benefiting from the research conducted on genetically modified organisms (GMOs), such as microorganisms that are considered clean fuel producers and biodegraders. Genetically modified vaccines are developed to cure various diseases in humans and plants. Recombinant DNA technology has created several potential innovation opportunities for developing a wide range of therapeutic products with immediate effect in medical genetics and biomedicine by modifying microorganisms, animals, and plants to yield medically useful substances.
Product launches are another factor accelerating the growth of the market. For instance, in September 2021, a Tokyo-based start-up called Sanatech Seed Co. teamed up with scientists at the University of Tsukuba to develop a new variety of tomatoes with the help of CRISPR/Cas9 gene-editing technology. The first products offered were seeds, delivered free of charge to around 4,200 people. The company has started selling genetically modified tomatoes. Such launches will increase the growth of the market in the coming future.
Thus, the increasing demand and application of RDT in various sectors are driving the growth of the market studied. However, regulatory, scientific, and ethical challenges associated with rDNA technology and gene therapy may restrain the growth of the market.
