Wilmington, Delaware, United States, May 09, 2023 (GLOBE NEWSWIRE) -- The global viral vector production market stood at USD 16.7 Bn in 2022 and is anticipated to exceed USD 17.3 Bn by 2031, expanding at a CAGR of 4.4% between 2023 and 2031.
Increase in market demand for effective gene therapies and rise in awareness and preference for early diagnosis and treatment are projected to drive the global viral vector production market in the next few years. Furthermore, consistent technological improvements and advent of efficient therapies are anticipated to support market growth during the forecast period.
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Increase in funding for the development of gene therapies is prompting companies and research institutes to engage in gene therapy development. This would boost market development in the near future. Market participants are anticipated to benefit significantly from the development of sophisticated technology for the manufacturing of viral vectors. Leading manufacturers are concentrating on the development of safe, effective, and scalable viral vector manufacturing technologies in order to sustain market competition. However, high entry barriers, capital-intensive production process, and stringent regulatory standards are likely to hamper market growth.
Given the possibility of their application in production of vaccines, gene therapy, and other fields of medical research, production of viral vectors has garnered significant attention in the past few years. It is possible to manipulate gene expression and treat genetic problems by using viral vectors, which are engineered viruses that are utilized to transfer genetic material into cells.
The purpose of ongoing research and development is to increase safety, scalability, and effectiveness of viral vector manufacturing techniques with the ultimate objective of making these cutting-edge therapies available to those in need.
Global Viral Vector Production Market: Key Players
- Oxford Biomedica plc
- Gamaleya Research Institute Industries
- FUJIFILM Diosynth Biotechnologies, Inc.
- Johnson & Johnson
- Thermo Fisher Scientific, Inc.
- Merck KGaA (Merck & Co., Inc.)
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Key Findings of Market Report
- Based on disease, the infectious diseases segment held the largest share of the global industry in 2022. This is attributed to high incidence rate and prevalence of infectious diseases. Moreover, increase in demand for efficient therapies against viral infections is propelling the segment.
- In terms of application, the vaccinology segment held the significant share in 2022. This is ascribed to its usage in various environments, particularly in the prevention of serious diseases such as COVID-19 and cancer. The segment is primarily driven by a rise in demand for novel vaccine development due to emerging infectious diseases.
- Based on vector type, the adenovirus segment accounted for the largest market share globally in 2022. High transduction effectiveness and a wide host range are attributed to the segment’s dominance. One of the key factors supporting the adenovirus segment is extensive usage in gene therapy.
Global Viral Vector Production Market: Growth Drivers
- Gene therapy holds immense potential for treating various genetic conditions such as viral infections, cancer, and hereditary illnesses. Given their effectiveness in successfully introducing therapeutic genes into target cells, viral vectors have drawn a lot of attention in the field of gene therapy. Global demand for gene based therapies has risen as a result of increase in the number of people suffering from genetic abnormalities and chronic illnesses such as cancer. Moreover, early diagnosis and treatment preferences by patients are likely to enhance the adoption of gene therapies across the world.
- Innovation in the global viral vector production market has been mostly driven by technological breakthroughs. Significant advancements have been achieved to increase productivity and lower production costs for high-quality vectors utilized in various applications, including cell-based therapies and vaccinations. When it comes to editing DNA sequences, CRISPR-Cas9 technology has transformed the global industry since it offers researchers higher precision as it allows them to remove particular regions of genomes without causing any damage to the adjacent area.
Global Viral Vector Production Market: Regional Landscape
- Based on region, North America held a leading share of the global market in 2022. Gene therapy-related research and development initiatives are supported by the region's robust healthcare system. The U.S. has a monopoly on the regional market as a large number of pharmaceutical companies are working on the development of novel therapeutics utilizing viral vectors. In addition, the market in North America is driven by supportive government programs such as funding assistance for research & development initiatives.
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Viral Vector Production Market: Segmentation
Vector Type
- Adenovirus
- Adeno-associated virus
- Retroviruses
- Others
Disease
- Genetic Diseases
- Infectious Diseases
- Cancer
- Others
Application
- Gene Therapy
- Vaccinology
Mode
- Transient Transfection
- Stable Producer Cell Lines
End-user
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- CROs & CDMOs
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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