Viral Vectors and Plasmid DNA Manufacturing Market size is projected to reach $4,978.54 million by 2027, registering a CAGR of 24.9% from 2020 to 2027

According to a new report published by Report Ocean, titled, “Viral Vectors and Plasmid DNA Manufacturing Market by Product, Application, And Region: Opportunity Analysis and Industry Forecast, 2019-2027,”

The viral vectors and plasmid DNA manufacturing market size was valued at $918.37 million in 2019 and is projected to reach $4,978.54 million by 2027, registering a CAGR of 24.9% from 2020 to 2027. North America was the highest contributor to the viral vectors and plasmid DNA manufacturing market in 2019; however, Asia-Pacific is anticipated to witness the fastest growth rate throughout the forecast period.

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Gene therapy has evolved as a favorable treatment option for various diseases (especially those with no cure at present) such as viral infections, cancers, and inherited disorders. Gene therapy and genetically modified therapy involve use of a therapeutic DNA (the gene of interest) in cells. The process of gene transfer into cells is achieved by application of vectors. Over the past few years, several viral and non-viral vectors (plasmid DNAs) have been standardized and optimized for this purpose. Viral vectors carry genetic material into cells by manipulating molecular mechanisms by which viruses transmit their genomes to other cells for infection. It can occur in vivo or in vitro. Plasmid carriers are artificially constructed on the basis of natural plasmids to adapt to laboratory operations.

This pandemic has disrupted growth in many economies across various domains. This pandemic is expected to present growth opportunities for viral vectors and plasmid DNA manufacturing market in near future. For this COVID-19, several viral vector, recombinant protein, live attenuated virus, and nucleic acid-based vaccines are in (pre)clinical development. Viral vector vaccines consist of a recombinant virus (which is the viral vector), frequently attenuated to reduce its pathogenicity, in which genes encoding viral antigen(s) have been cloned using recombinant DNA methods. Vector vaccines can either be replicating or non-replicating. The major advantage of these vector-based vaccines is that a single dose can be sufficient for protection. In addition, companies in the viral vector manufacturing market are increasing their production facilities.

Rise in funding for R&D activities pertaining to gene therapy; rise in prevalence of cancer, viral infection, & genetic disorders; and increase in awareness regarding gene therapy are the major factors that boost the viral vectors and plasmid DNA manufacturing market growth. However, high cost associated with gene therapies and risk of mutagenesis and other impediments in gene therapy restrain the market growth.

The impact of driving factors is expected to surpass that of the restraints. Moreover, rise in demand for synthetic genes and untapped potential for emerging markets are expected to provide new opportunities for market players in the future. However, possible insertional mutagenesis and high cost of gene therapies impede the market growth. Moreover, technological advancements to alleviate challenges caused by traditional methods of vector production provide lucrative opportunities for the manufacturers in the industry.

The cancer segment generated the highest revenue of in 2019, and is anticipated to continue this trend in the future. Requirement for quality drugs and versatile therapies for treatment are expected to boost growth of this segment. In addition, the inherited disorders segment is anticipated to grow at the highest CAGR from 2020 to 2027.

North America held the highest viral vectors and plasmid DNA manufacturing market share of million in 2019, owing to high prevalence rate of cancer and modern healthcare facilities. Adoption of experimental medicines and growth in awareness regarding gene therapy are expected to boost the North America market. Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to rapid industrialization in the area, increase in disposable income, and surge in government initiatives to modernize healthcare infrastructure.

The global viral vectors and plasmid DNA manufacturing market is segmented on the basis of product, application, and region. On the basis of product, it is divided into plasmid DNA, viral vectors, and non-viral vectors. By application, it is categorized into cancer, inherited disorders, viral infections, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings Of The Study

By product, the viral vector segment accounted for the largest market share in 2019.
By application, inherited disorder segment is expected to grow at the highest CAGR during the forecast period
North America held the major share of the viral vectors and plasmid DNA manufacturing market at CAGR of 23.4%.
The report provides some of the key players operating in the market include Cognate BioServices, Inc., Catalent Pharma Solutions, Fujifilm Holdings Corporation, Johnson & Johnson, Sanofi Corporation, F. Hoffmann-LA Roche Ltd, 4D Molecular Therapeutics, Sirion Biotech GmbH, Voyager therapeutics, and Thermo Fisher Scientific, Inc.

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This release was published on openPR.