|
(Health-NewsWire.Net, June 22, 2021 ) The viral vector manufacturing market is expected to reach USD 815.8 million by 2023 from an estimated USD 327.8 million in 2018, at a CAGR of 20.0%. The key factors driving the growth of this market include rising prevalence of cancer and genetic disorders, funding for the development of novel therapies, effectiveness of viral vectors in gene therapy delivery, and ongoing research into viral vector-based gene and cell therapies.
“The genetic disorders segment is expected to grow at the highest CAGR during the forecast period”
Based on diseases, the global viral vector manufacturing market is segmented into cancer, genetic disorders, infectious diseases, and other diseases. During the forecast period, the genetic disorders segment is expected to grow at the highest CAGR in the market. The accelerated research activities on various genetic disorders such as hemophilia A and B, sickle cell anemia, and Huntington’s disease and a robust gene therapy pipeline in the last phase of drug development is fueling the growth of this segment.
The gene therapy segment is expected to account for the largest share of viral vector manufacturing market in 2018”
Based on application, the global viral vector manufacturing market is segmented into gene therapy and vaccinology. In 2018, the gene therapy segment is expected to hold the largest share in this market and this segment is also expected to grow at the highest rate during the forecast period. The large share and fast growth of this segment can be attributed to the large number of clinical trials conducted for gene therapy on target diseases such as cancer, neurodegenerative diseases, and cardiovascular diseases globally.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=89341986
“North America is expected to dominate the viral vector manufacturing market in 2018”
In 2018, North America is estimated to account for the largest share of the viral vector manufacturing market. Factors such as a large number of regenerative medicine companies (including gene and cell therapy companies), increasing research activities, rising prevalence of target diseases, and availability of funds are supporting the growth of the viral vector manufacturing market in North America.
Lonza (Switzerland) was the leading player in the viral vector manufacturing market in 2017. The company adopts organic as well as inorganic growth strategies to maintain its dominant position in the market. It entered into agreements with leading gene therapy companies to manufacture their gene therapy products for clinical and commercial use. The company expanded its manufacturing capabilities in the US in 2018 and acquired a leading cell and gene therapy manufacturer in the Netherlands in 2017 to enhance its market presence. Lonza also focuses on seeking growth opportunities in the emerging markets of APAC.
Merck (Germany) held the second position in the viral vector manufacturing market in 2017 and has a strong presence in the leading markets of the US and the UK. The company offers a continuum of viral vector manufacturing services and has collaborated with leading gene therapy companies. Merck’s strong foothold in the life sciences industry and significant revenue has allowed the company to expand its manufacturing capabilities in the US, further enhancing its market presence in the largest gene therapy market.
Oxford BioMedica (UK) was the third player in the viral vector manufacturing market in 2017. The company owns a broad and robust viral vector therapy pipeline allowing the company to collaborate with leading pharma and biopharma companies such as Novartis and Bioverativ (US). The company is a pioneer in developing lentiviral vector therapy using its proprietary LentiVector Platform. It also benefits from the out-licensing of this platform. Biomedica focuses on seeking opportunities in important markets such as South Korea, Switzerland, and Italy.Viral Vector Manufacturing Market by Type (Retrovirus, Gammaretrovirus, AAV), Disease (Cancer, Infectious Disease, Genetic Disorders), Application (Gene Therapy, Vaccinology), End User (Biotech companies, Research Institutes) - Global Forecast to 2023
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
|
