Viral Vector Manufacturing Market is Growing at a Healthy CAGR of 22.65% During Forecast to 2023

Market Overview:

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 Trends 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.

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Viral vector manufacturing has become an important process for the healthcare sector in recent years due to the growing demand for gene therapy. Gene therapy involves replacing a part of the genetic structure of the patient with new genes taken from a different organism. These genetic snippets are known as viral vectors. The growing demand for gene therapy from developed countries around the world is likely to be a major driver for the global viral vector manufacturing market over the 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.  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.

Competitive Analysis:

·         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

·         Lonza

Segmentation:

·         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.

Regional Analysis:

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.