New York, Nov. 17, 2022 (GLOBE NEWSWIRE) -- The global viral vector manufacturing market stands at reach a valuation of US$ 624.7 Mn in 2022 and is expected to grow rapidly at a CAGR of 18.7% over the forecast period through 2032. Market growth is mainly attributed to constant innovation and development in novel therapeutic viral delivery vectors by key players operating in the market.
To transfer nucleic acids to particular cell types while evading the immune monitoring of an infected host, viruses have evolved to become extremely effective. These characteristics make viruses desirable vectors, or vehicles, for gene therapy. For usage in gene therapy applications, a variety of virus species, including retroviruses, adenoviruses, adeno-associated viruses (AAV), and herpes simplex viruses, have been altered in labs. Each of these vector systems has applications that it is best suited for, since each has distinct advantages and disadvantages.
Even with precautions, it seems that viral-based gene therapy has a promising future. By using multiple viral vectors, various medications have been approved for the treatment of several illnesses, offering considerable flexibility and alternate tactical possibilities. Viral vectors are now in a better position due to developments in vector engineering as well as safety research.
“Rising research & development of innovative viral vector manufacturing products and increasing demand for better treatment options due to rising prevalence of different kinds of alternative therapies will drive market growth over the coming years,” says an analyst of Persistence Market Research.
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Key Takeaways from Market Study
- Adeno-associated viral vectors held 38.9% market share by virus type in 2021.
- Stable expression systems accounted for more than 85% market share in 2021.
- By application, gene therapy held a market share of 56.7% in 2021.
- By end user, academic and research institutes held a high share of 49.1% in 2021.
- Around 35.5% of the global market share, by region, was accounted for by North America in 2021.
Additionally, organizations are exploring a wide range of cutting-edge technological developments and creative business models to handle every facet of the development of viral-vector gene therapy. A majority of these assets are the result of the consistent flow of small- and mid-sized biotech businesses as well as academic labs that have been funded at high levels by ongoing venture capital. The potential utilization of viral vectors has drawn the attention of large pharma companies, with seven biotech start-ups acquired in the last two years alone valued at close to or above US$ 1 billion. With the approval of ground-breaking COVID-19 vaccines and Ebola vaccines during the past year, adenoviruses are proving their viability as a vaccine platform.
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Market Competition
Leading companies are focused on innovative product launches and acquisitions to meet customer demand and expand their product portfolios.
Some key strategies adopted by industry players in the viral vector manufacturing market are:
- In February 2022, Thermo Fisher Scientific launched a new integrated commercial distribution and packaging services for cell and gene therapy innovators. This will help in smooth transition of treatments for patients throughout the U.S. and Europe from the clinic to commercial launch.
- In January 2021, viral vector manufacturing business of Henogen S.A., Novasep's in Belgium was acquired by Groupe Novasep SAS (Novasep) and Thermo Fisher Scientific Inc.
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