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Viral Vector and Plasmid DNA Manufacturing Market owing to surge in global incidence of cancer and increase in geriatric population susceptible to disease

04-04-2019 10:31 AM CET | Health & Medicine

Press release from: Allied Market Research

Viral Vector and Plasmid DNA Manufacturing Market

Viral Vector and Plasmid DNA Manufacturing Market

The market for viral vector and plasmid DNA is expected to reach $ 1,090 million in 2023, growing at an annual average rate of 22.6% from 2017 to 2023. North America was the largest contributor to the viral vector and plasmid DNA markets in 2016. However, the Asia Pacific region is expected to have the highest growth rate during the forecast period.

Gene therapy has included tools such as viral vectors and plasmid DNA and has evolved into a treatment option that is favorable for a variety of diseases, particularly viral infections, cancers, and hereditary diseases, particularly those without current treatments. Gene therapy and genetically modified therapies involve the use of therapeutic DNA (the gene of interest) in the cell. The process of gene transfer into cells is done by the application of vectors. Over the last several years, several viral and nonviral plasmid DNA have been standardized and optimized for this purpose.

Key factors driving the global viral vector and plasmid DNA manufacturing market include the numerous stages of clinical progression, the ability of vectors to efficiently express therapeutic genes, and the rapid development of genes through non-pathogenesis, have. vector. However, the high costs of possible mutagenesis and gene therapy inhibit market growth. Technological advances to mitigate the problems caused by traditional vector generation methods provide a good opportunity for manufacturers in this industry.

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The key market players operating in this market are
• Kaneka Eurogentec S.A.
• FinVector
• Brammer Bio
• Cell and Gene Therapy Catapult
• FUJIFILM Diosynth Biotechnologies
• Sanofi
• Spark Therapeutics
• Cobra Biologics
• UniQure and MassBiologics.

Other players in the value chain analysis include, 4D Molecular Therapeutics, Renova Therapeutics, Shenzhen SiBiono GeneTech Co., Ltd., and Thermo Fisher Scientific, Inc.

The cancer application generated the highest revenue of $162 million in 2016, and is anticipated to continue this trend in the future. The requirement for quality drugs and versatile therapies for treatment are expected to boost the growth of this segment. Inherited disorders application is projected to grow at the highest CAGR of 25.1% from 2017 to 2023.

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North America held the highest market share of $124 million in 2016, owing to high prevalence rate of cancer and modern healthcare facilities. The adoption of experimental medicines and growth in awareness about gene therapy are expected to boost the North American market. Asia-Pacific is expected to grow at the highest CAGR of 18.8% during the forecast period, owing to rapid industrialization in the area, increase in disposable income, and upsurge in government initiatives to modernize healthcare infrastructure.

Key Findings of the Viral Vector and Plasmid DNA Manufacturing Market:
• The plasmid DNA segment is anticipated to grow at the highest CAGR from 2017 to 2023.
• The inherited disorders application segment is expected to witness the highest growth rate.
• Cancer application segment is anticipated to occupy the largest share in the viral vector and plasmid DNA manufacturing market.
• North America dominated the global viral vector and plasmid DNA manufacturing market, and is projected to grow at a CAGR of 20.6%.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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