You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

DUBLIN--(BUSINESS WIRE)--The "Global Recombinant Proteins Market by Product (Growth Factors, Chemokines, Structural Proteins, Membrane Proteins), Application (Drug Discovery & Development, Academic Research), End-user (Biotechnology Companies, CROs), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering. The global recombinant proteins market is projected to reach USD 1.7 billion by 2026 from USD 1 billion in 2021, at a CAGR of 9.8% during the forecast period. The market growth is primarily driven by factors such as increasing government investments and R&D expenditure in pharmaceutical & biotechnology companies, growing industry academia collaborations, and the patent expiry of biologic products. Emerging markets in Asian countries and the rising focus on personalized medicine & protein therapeutics are other factors expected to offer strong growth opportunities for players in the recombinant proteins market. In contrast, the declining cost of recombinant proteins may restrict market growth to a certain extent. The pharmaceutical & biopharmaceutical companies segment is expected to dominate the market during the forecast period Based on end users, the recombinant proteins market is segmented into pharmaceutical & biopharmaceutical companies, biotechnology companies, academic research institutes, contract research organizations, and other end users. Pharmaceutical & biopharmaceutical companies accounted for the largest share of the end-user market in 2020. The large share of this segment is attributed to the high requirement of recombinant proteins for prognostic, predictive, or diagnostic identification and the quantification of biomarkers in drug discovery & development. Moreover, factors such as the patent expiration of blockbuster drugs and increasing investments in drug development support the growth of this segment. Biologics segment will witness the highest growth in the recombinant proteins market Based on type, the drug discovery & development market is segmented into biologics, vaccines, and cell & gene therapy. Biologics accounted for the largest share of the drug discovery & development application for the recombinant proteins market and is expected to register the highest CAGR during the forecast period. The large share of the biologics segment is attributed to the factors such as the increasing prevalence & incidence of target diseases, increasing research & development, and the strong development pipeline for recombinant protein-based biologics. North America will dominate the market during the forecast period Geographically, the recombinant proteins market is segmented into North America, Europe, the Asia-Pacific, and the Rest of the World. In 2019, North America accounted for the largest share of the recombinant proteins market. The large share of this region in the global market is attributed to the rising incidences of chronic & infectious diseases, increasing R&D spending, increasing research activities, favorable government funding, and the presence of key players in this region. List of companies profiled in the report: For more information about this report visit https://www.researchandmarkets.com/r/3paa1e

Answer: Global Recombinant Proteins Markets 2021-2026: Opportunities in the Rising Focus on Personalized Medicine & Protein Therapeutics - ResearchAndMarkets.com