Latest Happenings in Business World
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.
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.
Avail free sample market brochure of the report to evaluate report usefulness, get a copy @ https://www.marketdataforecast.com/market-reports/viral-vector-manufacturing-market/request-sample
KEY MARKET INSIGHTS:
The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/viral-vector-manufacturing-market/customization