Amid the COVID-19 crisis, the global market for Recombinant DNA Technology estimated at US$609.8 Million in the year 2020, is projected to reach a revised size of US$841.3 Million by 2027, growing at a CAGR of 4.7% over the period 2020-2027.
Medical, one of the segments analyzed in the report, is projected to record 5.2% CAGR and reach US$631.4 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Medical segment is readjusted to a revised 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $179.7 Million, While China is Forecast to Grow at 4.4% CAGR
The Recombinant DNA Technology market in the U.S. is estimated at US$179.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$148.5 Million by the year 2027 trailing a CAGR of 4.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 3.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.