WASHINGTON, March 10, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Viral Vector and Plasmid DNA Manufacturing Market finds that increasing prevalence of chronic diseases across the globe is expediting market growth. The market growth is attributed to, increasing genetic disorders, as well as increase in awareness about vaccination. Total Global Viral Vector and Plasmid DNA Manufacturing Market is estimated to reach USD 1902.7 Million by 2028.
The market stood at a revenue of USD 601.8 Million in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.1%.
Furthermore, demand for viral vector-based vaccines is projected to augment growth of the Global Viral Vector and Plasmid DNA Manufacturing Market, states Vantage Market Research, in a report, titled “Viral Vector and Plasmid DNA Manufacturing Market by Product Type (Plasmid DNA, Viral Vector, Non-viral Vector), by Application (Cancer, Genetic Disorder, Infectious Disease, Other Applications), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Viral Vector and Plasmid DNA Manufacturing Market:
- Fujifilm Diosynth Biotechnologies (US)
- SIRION Biotech (Germany)
- Thermo Fisher Scientific (US)
- Merck KGaA Inc. (US)
- Cognate Bio Services Inc. (Cobra Biologics) (US)
Market Dynamics:
Escalated Adoption of Gene Therapy Technique
Gene therapy is a unique technology that enables geneticists and medical researchers to edit parts of the genome by removing, adding or altering sections of the DNA sequence. It is currently the simplest, most versatile, economic, and precise method of genetic manipulation and is therefore causing a buzz in the science world in the recent years.
Gene therapy have extensive applications. Since its initial demonstration, the gene therapy has been widely adopted, with its successful applications in targeting diseases, such as neurological, cardiac, and various others. The technology has been widely used by researchers to introduce single point mutation in a targeted gene. Large genomic rearrangements or deletions are possible through the use of gene therapy. Thus, considered to be some of the prominent factors increasing adoption and demand for gene therapy. Consequently, increasing the demand for viral vector and plasmid DNA manufacturing further propelling the market growth over the forecast period.
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Rise in Patient Awareness towards Treatment through Gene Therapy due to Early Disease Diagnosis
In the early times, late and improper diagnosis of chronic, life-threatening, and infectious diseases due to inadequate instruments, improper diagnostic procedures, and unawareness of people towards disease diagnosis resulted in the loss of many lives. With advancements in diagnostic procedures, early disease diagnosis is an easy task. With early disease diagnosis, gene therapy procedures, instruments, and reagents, are in high demand on a global level. Also, with changing daily life and habits, the prevalence of diseases such as cardiac diseases, kidney disorders, liver disorders, diabetes, and many others started rising. Quickly rising disease conditions led to increased awareness among people across developed, developing, and under-developed countries. Information regarding transcriptome or other multi-omics and genomic is obtained through gene therapy which helps in early diagnosis of diseases through R&D thus, ultimately increasing the demand for viral vector and plasmid DNA manufacturing further propelling the market growth over the forecast period.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Viral Vector and Plasmid DNA Manufacturing Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Viral Vector and Plasmid DNA Manufacturing Market
North America has dominated the Global Viral Vector and Plasmid DNA Manufacturing Market in 2021 and is likely to continue the same trend during the forecast period. The market growth in the region is attributed to high prevalence rate of cancer as well as modern healthcare facilities. Additionally increasing fundings from government for Research and Development (R&D) is further propelling the market growth.
Asia Pacific is likely to witness fastest growth in the Viral Vector and Plasmid DNA Manufacturing Market during the forecast period. The market growth in the region is attributed to factors such as, rapid pace of industrialization in the region, as well as large base of population, especially in China. Additionally, increasing in disposable income along with government initiatives to modernize healthcare infrastructure is likely to fuel the market growth over the forecast period.
Browse market data Tables and Figures spread through 157 Pages and in-depth TOC on "Viral Vector and Plasmid DNA Manufacturing Market by Product Type (Plasmid DNA, Viral Vector, Non-viral Vector), by Application (Cancer, Genetic Disorder, Infectious Disease, Other Applications), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/viral-vector-and-plasmid-dna-manufacturing-market-432431
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Viral Vector and Plasmid DNA Manufacturing Market?
- How will the Viral Vector and Plasmid DNA Manufacturing Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Viral Vector and Plasmid DNA Manufacturing Market?
- What is the Viral Vector and Plasmid DNA Manufacturing market drivers and restrictions?
- What will be the CAGR and size of the Viral Vector and Plasmid DNA Manufacturing Market throughout the forecast period?
Recent Developments:
January 2021: Thermo Fisher Scientific Acquires Viral Vector Manufacturing Business from Novasep.
May 2021: Lonza launches Next Generation 4D-Nucleofector Cell Transfection Platform with proven performance and enhanced ease of use. Modular design offers unmatched flexibility in scale and throughput with proven performance.
This market titled “Viral Vector and Plasmid DNA Manufacturing Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 601.8 Million |
| Projected Market Size in 2028 | USD 1902.7 Million |
| CAGR Growth Rate | CAGR of 16.1% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Product Type • Plasmid DNA • Viral Vector • Non-Viral Vector Application • Cancer • Genetic Disorder • Infectious Disease • Other Applications |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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