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Nov-2021

Viral Vector Manufacturing Market Size Worth USD 1314 Mn By 2026

Global Viral Vector Manufacturing Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Type, Disease, Application, End User & Region – Industry Forecast (2021 to 2026)

The global viral vector manufacturing market size is predicted to expand at a CAGR of 21.24% from 2021 to 2026 and be worth USD 1,314.85 million by 2026 from USD 501.93 million in 2021.

COVID-19 Impact on the global viral vector manufacturing market:

The year 2020 was dominated by the COVID-19 pandemic, which affected more than two million people with the coronavirus. Reverse and structural vaccination methods have taken advantage of past studies on MERS to produce the vaccine for COVID-19. The pandemic and associated government funding for vaccine development has prompted companies to develop viral vector and mRNA technologies to accelerate the validation and expansion of their platforms. In particular, vaccines developed using established technologies, such as an inactivated or attenuated virus or protein platforms, have evolved almost as rapidly as programs using viral vector and virus platforms. The global viral vector manufacturing market has seen tremendous growth during 2020 and 2021.

KEY DRIVING FACTORS:

A few of the factors driving the growth of the global viral vector manufacturing market include the increasing prevalence of target diseases and disorders, continues research and clinical trials, the availability of funding for the development of gene therapies, the effectiveness of viral vectors in delivering the best products. According to UNAIDS statistics, stated in the year 2019, over 38.5 million people worldwide were living with HIV and nearly 1.79 million people were suffering from AIDS. According to the same source, 27.6 million people had access to antiretroviral therapy in the year 2020. The viral vector manufacturing market has grown significantly with the growing demand for advanced diagnostics options and treatment range and the evolving facets in medical science.

Vaccinations and the production of the new drug coupled with various gene therapies will drive the market. The untapped potential of emerging markets, especially in developing regions like India, etc. will move the market ahead in the future.

Key companies are moving towards collaboration and partnership programs to focus on increasing the existing viral vector manufacturing capabilities and advanced gene therapy. All these factors are anticipated to move the vector manufacturing market in a positive direction.

MAJOR RESTRAINTS:

However, viral vectors have the disadvantage of being short-lived, which increases the manufacturing costs and storage issues. In addition, the high cost of gene-based medical therapies could hamper the demand for viral vectors.

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KEY MARKET INSIGHTS:

  • Based on the type, the adeno-associated viral vector is predicted to grow at the highest CAGR, as they various used in most cell-based gene therapies.
  • Based on the disease, in 2020, cancer represented the majority of the global viral vector manufacturing market share. The market growth can be attributed to the growing research in viral vector-based gene therapies for cancer. According to GLOBOCAN 2020, there were over 1.2 billion new cases of cancer worldwide in 2020, and it is studied to increase to 2.8 billion cases by 2040.
  • Based on the application, gene therapy is forecasted to grow at the highest rate during the forecast period. The availability of effective viral vector gene therapies for rare diseases and cancers, a large patient base, and the recent approval of several viral vector gene therapies are driving the growth of this market.
  • Based on the end-users, in 2020, pharmaceutical and biopharmaceutical companies led the global market. The success of gene therapies and a strong portfolio of such therapies are the key factors contributing to the growth of the pharmaceutical and biopharmaceutical company segment during the forecast period.
  • Based on region, Asia-Pacific regional market is estimated to grow at a high CAGR during the forecast period. The rapid growth of this region can be attributed to increasing research activities to launch new gene therapies in untapped markets in this region.
  • Viral vector manufacturing market players are engaged in various strategic functionalities to take advantage of the potential presented by viral vector manufacturing. Major players in the global market include Oxford BioMedica (UK), uniQure (Netherlands), Lonza (Switzerland), CGT Catapult (UK), Cobra Biologics (UK), Merck (Germany), FUJIFILM Diosynth Biotechnologies (EE) and Spark Therapeutic (United States).

The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/viral-vector-manufacturing-market/customization

MARKET SEGMENTATION:

By Type:

  • Adeno-Associated Viral Vectors
  • Retroviral Vectors
  • Adenoviral Vectors

By Application:

  • Gene Therapy
  • Vaccinology Development

By Disease:

  • Cancers
  • Genetic Disorders
  • Infectious diseases
  • Other Diseases

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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WRITTEN BY: Market Data Forecast

Market Data Forecast