New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Viral Vectors And Plasmid DNA Global Market Report 2023" - https://www.reportlinker.com/p06241861/?utm_source=GNW
The global viral vectors & plasmid DNA market is expected to grow from $0.69 billion in 2021 to $0.80 billion in 2022 at a compound annual growth rate (CAGR) of 14.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The viral vectors & plasmid DNA market is expected to reach $1.38 billion in 2026 at a CAGR of 14.8%.
The viral vectors and plasmid DNA market consists of sales of adeno-associated viral, adenoviral, lentiviral, and retroviral.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Viral vectors refer to a tool made of a viral genome that has been converted into a plasmid-based technology, modified for safety by deleting several necessary genes, and the viral components have been separated.Whereas, Plasmid DNA refers to a tiny, circular DNA molecule that can be found in some bacteria and other tiny organisms.
Physically distinct from chromosomal DNA, plasmids multiply on their own.
North America is the largest region in the iral vectors & plasmid DNA market in 2022.Middle East is expected to be the fastest growing region.
The regions covered in the iral vectors & plasmid DNA market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in viral vectors & plasmid DNA are plasmid DNA and viral vectors.A plasmid is a single-stranded, circular DNA molecule that is different from the chromosomal DNA of a cell.
Plasmids are found organically in bacterial cells as well as in certain eukaryotes.Plasmid genes frequently confer genetic benefits to bacteria, such as antibiotic resistance.
The different diseases include infectious diseases, genetic disorders, cancer, and others and are used in gene and cancer therapies, viral infections, immunotherapy, formulation development, and others. The several sectors include research institutes, biopharmaceutical, and pharmaceutical companies.
The rise in the global incidence of cancer is driving the viral vector & plasmid DNA market.The major causes of most cancers include obesity, smoking, alcohol, and improper eating habits.
According to the American cancer society 2020, an estimated 1.8 million new cancer cases diagnosed and 606,520 cancer deaths in the United States.Furthermore, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases.The rise in the global incidence of cancer is expected to boost the demand for the viral vectors and plasmid DNA market over the coming years.
The unaffordable cost of gene therapies is a major challenge in the viral vectors & plasmid DNA market. The prices of gene therapies range from $0.2 million to $2.1 million. For instance, Gilead company’s Yescarta is a gene therapy that costs around $0.3 million and Bluebird Bio’s Letiglobin is another gene therapy costing around $2.1 million. The high price is due to various factors like government regulations, production costs, and so on. Therefore, the unaffordable cost of gene therapies is limiting the viral vector & plasmid DNA market growth.
In January 2020, Cognate Bioservices Inc, a US-based company skilled in cell and cell-mediated gene therapy products, acquired Cobra Biologics, which specialized in providing manufacturing services for plasmid DNA and viral vector, for an undisclosed amount.The acquisition is expected to create a platform for the life cycle management of cell and gene therapy products.
Cobra biologics is well established in the development and manufacture of a variety of viral vectors and DNA. The combined Cognate and Cobra expertise is expected to push both the businesses to a better position to respond to current and future market demand.
The countries covered in the viral vectors & plasmid DNA market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The viral vectors & plasmid DNA market research report is one of a series of new reports that provides viral vectors & plasmid DNA market statistics, including viral vectors & plasmid DNA industry global market size, regional shares, competitors with a viral vectors & plasmid DNA market share, detailed viral vectors & plasmid DNA market segments, market trends and opportunities, and any further data you may need to thrive in the viral vectors & plasmid DNA industry. This viral vectors & plasmid DNA market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06241861/?utm_source=GNW
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