Viral Vector and Plasmid DNA Testing Services Market – Market Insights
Viral vectors are widely used in gene therapies. The viral vectors are majorly used by researchers to deliver genetic materials in the cells. Viral vectors are playing significant role in the pharmaceutical sector, as many research and innovations are ongoing for the development of drugs for treating cancer, cardiovascular diseases, ophthalmology, hematology, and many others.
Market players are focusing on partnership to expand their business in the viral vector and plasmid DNA testing services market, which is expected to boost growth of the market over the forecast period. For instance, in November 2019, Harvard University and Massachusetts Institute of Technology entered into a partnership with GE Healthcare Life Sciences, Fujifilm, and five research hospitals, in order to build a research center worth US$ 50 million at Greater Boston, U.S. for developing new cell and gene therapy. The hospitals involved in the partnership include Beth Israel Deaconess Medical Center, Boston Children’s Hospital, Brigham and Women’s Hospital, the Dana-Farber Cancer Institute, and Massachusetts General Hospital.
The global viral vector and plasmid DNA testing services market was valued at US$ 76.4 million in 2018 and is expected to exhibit a CAGR of 25.0% over the forecast period (2019-2027).
Figure 1. Global Viral Vector and Plasmid DNA Testing Services Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2020)
Inorganic growth strategies such as business expansions adopted by key players is expected to boost growth of the global viral vector and plasmid DNA testing services market.
The global viral vector and plasmid DNA testing services market is expected to witness significant growth over the forecast period, owing to business expansions by key players. For instance, in May 2016, Eurofins MWG Operon LLC., a subsidary of Eurofins Scientific Company, announced to open a new DNA sequencing Lab in Toronto, Canada, in order to offer sequencing services using Sanger method to researchers in Canada.
Figure 2. Global Viral Vector and Plasmid DNA Testing Services Market Share (%), by Testing Services, 2019 and 2027
Source: Coherent Market Insights Analysis (2020)
Increasing acquisitions by key players for better penetration in the market is expected to drive the market growth.
North America is expected to hold a dominan viral vector and plasmid DNA testing services market, owing to increasing acquisition by key players, which is expected to drive the t position in the global North America market growth over the forecast period. For instance, in September 2016, Charles River Laboratories, Inc. acquired Agilux Laboratories, Inc. for around US$ 62.0 million. The acquisition strengthened Charles River Laboratories, Inc.’s offering for client’s drug research process.
Moreover, Europe is expected to be the second dominating region in the global viral vector and plasmid DNA testing services market over the forecast period, owing to acquisitions by key players in the region. For instance, in 2017 Eurofins Scientific acquired Amatsigroup, a CDMO offering preclinical and clinical phase services for the development of human and veterinary drugs. The acquisition is expected to strengthen Eurofins position in its BioPharma services business.
https://www.coherentmarketinsights.com/insight/request-sample/3637
https://www.coherentmarketinsights.com/insight/request-pdf/3637
Key Players
Major players operating in the global viral vector and plasmid DNA testing services market include Charles River Laboratories, Inc., WuXi AppTec Co., Ltd., Cobra Biologics and Pharmaceutical Services, Merck KGaA, Lonza, Eurofins Scientific, FinVector Vision Therapies, Advanced Bioscience Laboratories, Inc., Takara Bio Inc., ViruSure GmbH, and Genezen Laboratories among others.
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions.
What we provide:
- Customized Market Research Services
- Industry Analysis Services
- Business Consulting Services
- Market Intelligence Services
- Long term Engagement Model
- Country Specific Analysis
Contact Us:
Mr. Shah
Coherent Market Insights Pvt. Ltd.
Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S.
Phone: +1-206-701-6702
Email: [email protected]