The global molecular farming market is poised to witness significant growth, expanding from $454.1 million in 2023 to a projected $916.3 million by 2028, reflecting a compound annual growth rate (CAGR) of 15.1%.

This growth is attributed to various factors, including the increasing demand for therapeutic proteins and antibodies, as well as advancements in genetic engineering and bioprocessing technologies. The market is also benefiting from eco-friendly production processes and governmental support for sustainable agriculture.

The market is primarily segmented into plant and animal molecular farming. Plant molecular farming offers advantages such as rapid production, scalability, and reduced environmental impact. Animal molecular farming, on the other hand, allows for the production of complex human proteins.

Key industries utilizing molecular farming products include pharmaceuticals, nutraceuticals, and cosmetics. The market is also seeing increased adoption in research and development, particularly in the field of personalized medicine.

The report provides detailed analysis of key market players, including their market shares, proprietary technologies, strategic alliances, and patents. ESG (environmental, social, and governance) trends are also examined, highlighting the industry’s focus on sustainability.

Challenges related to commercialization, such as regulatory hurdles and production costs, are explored. The report also discusses future market trends and emerging technologies that are expected to drive growth in the coming years.

Overall, the report offers a comprehensive overview of the molecular farming industry, providing insights into its market dynamics, emerging technologies, and future prospects.

Source link: http://www.businesswire.com/news/home/20240430838768/en/Molecular-Farming-Global-Markets-Report-2024-Increasing-Demand-from-the-Pharmaceutical-Industry-for-Proteins-and-Growing-Use-of-Enzymes-Fueling-Expansion—Forecast-to-2028—ResearchAndMarkets.com

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Ferry Darma
Ferry Darma is Director of Media Relations at The Clinical Trial Vanguard. Ferry, a computer data scientist, focuses on the latest clinical trial industry news and trends.