The size of the viral vector manufacturing market in the APAC region is projected to rise at a CAGR of 23.44% from 2023 to 2028 and be worth USD 404.28 million by 2028 from USD 140.98 million in 2023.
The viral vector manufacturing market has developed significantly on a regional level, owing to the rising need for advanced clinical treatments and a growing focus on the emerging field of medical science, aided by transforming technologies. In addition, viral vectors, which are made up of adenoviruses, baculoviruses, herpes simplex viruses, and other viruses, are increasingly used in vaccine development and medication development.
The increased prevalence of target diseases and disorders, the availability of funding for gene therapy development, the efficacy of viral vectors in gene therapy delivery, and continuous research into viral vector-based gene and cell therapies are primarily boosting the viral vector manufacturing market in the APAC region. As a result, Gene therapy is also predicted to expand at the fastest rate during the projection period. In addition, the availability of efficient viral vector gene therapies for rare diseases and cancers, ongoing research on viral vector gene therapies, and the recent approval of many viral vector gene treatments are also propelling the market's growth.
The APAC market for viral vector manufacturing is further expected to be fueled by government initiatives. These efforts include direct funding, which raises awareness while streamlining the regulatory environment through innovations like fast-track approval processes. As a result, the viral vector manufacturing market in APAC is predicted to expand.
While the overall market is predicted to increase over the forecast period, the high cost of gene treatments and the limited shelf life of viral vectors are likely to limit the market's expansion. In addition, a scarcity of trained specialists is projected to be a key stumbling block to the market's development, especially in emerging countries. This has a significant impact on developing countries' rural places.
This research report on the APAC viral vector manufacturing market has been segmented and sub-segmented into the following categories.
The Asia Pacific is predicted to develop quickly in the viral vector manufacturing market during the forecast period. The rapid expansion of this region can be ascribed to increased research activity aimed at launching breakthrough gene therapies in the region's underserved markets.
The achievement of excellence in gene therapy has increased the viral vector manufacturing market in countries such as China and Japan. Furthermore, the rise of molecular biology hastened genomic sequencing, which is projected to strengthen precision medicine further. The advancements in molecular biology and medical research align gene therapy to a progressive frontier, allowing viral vector production to expand and revolutionize patient treatment.
Furthermore, as viral vectors become more widely used in gene therapy for diseases like cancer, metabolic disorders, and others, demand for viral vector manufacturing is expected to rise. As a result, market companies in viral vector manufacturing are expanding their operations into rising nations and attractive areas.
KEY MARKET PLAYERS:
FUJIFILM Diosynth Biotechnologies, Thermo Fisher Scientific, Cobra Biologics, Catalent Inc., Wuxi Biologics, Takara Bio Inc., Waisman Biomanufacturing, Genezen laboratories, Batavia Biosciences, Miltenyi Biotec GmbH, SIRION Biotech GmbH, Virovek Incorporation, BioNTech IMFS GmbH, and Audentes Therapeutics are some of the major companies operating in the APAC viral vector manufacturing market profiled in this report.
The viral vector manufacturing market in APAC is expected to be valued at USD 3227 million by 2027.
The growing demand for gene and cell therapies, growing investment in biotechnology research and development, and the presence of a large patient pool in the Asia Pacific region are propelling the viral vector manufacturing market growth in the APAC region.
Between 2022 to 2027, the APAC viral vector manufacturing market is estimated to grow at a CAGR of 23.44%.
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