Viral Vector Manufacturing Market Analysis, Trend Analytics and Forecast to 2023
The global viral vector manufacturing market is expected to exhibit a strong 22.65% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The report forecasts a valuation of USD 319 million for the market by the end of the 2018-2023 forecast period. In current time, gene therapy is one of the preferred treatment options for most chronic diseases, that involves the insertion of a functional copy of a gene into a defective cell.
viral vectors and the absence of the appropriate tools are likely to be the key restraints acting against the global Viral Vector Manufacturing Market over the forecast period. Many companies in the global viral vector manufacturing market are taking steps to counter the difficulties in producing viral vectors and this area is likely to remain a hive of activity in the coming years. This has also resulted in strong growth prospects for companies that can develop effective viral vector manufacturing platforms and systems and sell them to clients in drug discovery applications.
In current time, gene therapy is one of the preferred treatment options for most chronic diseases, that involves the insertion of a functional copy of a gene into a defective cell.
The increasing number of clinical trials and the growing necessity for an effective mode of disease treatment are some of the factors fostering the growth of the market. Additional factors having a synergistic effect on the growth of the viral vector manufacturing market include the increasing number of technological advancements, a growing number of ambulatory services, and government initiatives.
- Kaneka Eurogentec S.A.
- REGENXBIO Inc
- Cobra Biologics
- Cell and Gene Therapy Catapult
- Brammer Bio
- FinVector Vision Therapies
- uniQure N.V
- Spark Therapeutics Inc
- Oxford BioMedica
- General Electric Company
- Merck KGaA
- The global viral vector manufacturing market is segmented on the basis of type, disease, application, end use, and region.
- By type, the global viral vector manufacturing market is segmented into retroviral vectors, adenoviral vectors, adeno-associated viral vectors, and other viral vectors. The retroviral vectors segment is further sub-segmented into lentiviral vectors and gamma-retroviral vectors. The retroviral vectors segment holds the largest share in the global viral vector manufacturing market. Retroviruses contain the enzyme reverse transcriptase, which enables easy assimilation into the host DNA. This has driven the demand for retroviral vectors. The adenoviral vectors segment is also expected to exhibit rapid growth over the forecast period.
- By disease, the global viral vector manufacturing market is segmented into cancer, genetic disorders, infectious diseases, and others.
- By application, the market is segmented into gene therapy and vaccinology.
- By end use, the global viral vector manufacturing market is segmented into pharma and biotech companies, research institutes, and others.
The North American Region heading with the growing prevalence of autoimmune and chronic diseases, accounts for the leading market for viral vector manufacturing, globally. Moreover, technological advancements in the manufacturing of these vectors is a key force driving the growth of this market.
Additionally, favorable reimbursement policies and the presence of well-developed healthcare infrastructure, and increasing geriatric population are some of the key driving forces contributing to the growth of the regional market.