Viral Vector Manufacturing Market is expected to grow at a CAGR of 22.65% by 2023

Overview:
Acknowledging the exponential accruals, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global viral vector manufacturing market will garner a value of USD 319 MN by 2023, registering a whopping CAGR of approx. 22.65% throughout the forecast period (2018-2023).

Viral vector manufacturing refers to the production of a carrier called a vector which is genetically engineered to deliver the gene because they can deliver the new gene by infecting the cell. Considered as a drug substance, viral vectors are used in gene therapy and vaccinology (vaccines). In the case of cell therapies, the scrutiny for testing for adventitious agents is high.
Viruses that are often used as vectors include retroviruses that integrate their genetic material including the new gene in the human cell, and adenoviruses, that introduce their DNA into the nucleus of the cell without letting the DNA to integrate into a chromosome. These viruses are modified so they can't cause disease when used in people.

Gene therapy has seen various clinical advancement, and along with it, the viral vector manufacturing market is growing pervasively. Gene therapy is one of the most preferred treatment options for a number of chronic diseases. Over the past few years, the viral vector manufacturing market is growing rapidly mainly due to the growing prevalence of devastating neurodegenerative diseases including Parkinson’s, Alzheimer’s, and ALS.

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The increasing number of clinical trials and the growing necessity for an effective mode of disease treatment are some of the factors fostering the growth of the market. Additional factors having a synergistic effect on the growth of the viral vector manufacturing market include the increasing number of technological advancements, a growing number of ambulatory services, and government initiatives.

On the flip side, factors such as the high cost of gene therapies and possible mutagenesis alongside the strict government regulation and time-consuming approval process are expected to impede market growth.
Global Viral Vector Manufacturing Market – Segmentations
The MRFR analysis is segmented into five key dynamics for enhanced understanding.
By Type: Retroviral Vectors, Adeno-Associated Viral Vectors, and Adenoviral Vectors among others.
By Disease: Cancer, Genetic Disorders and Infectious Diseases among others.
By Application: Gene Therapy and Vaccinology among others.

By End-user : Pharmaceutical Companies, Biotechnology Companies, and Research Institutes, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Viral Vector Manufacturing Market - Regional Analysis
The North American Region heading with the growing prevalence of autoimmune and chronic diseases, accounts for the leading market for viral vector manufacturing, globally. Moreover, technological advancements in the manufacturing of these vectors is a key force driving the growth of this market.

Additionally, favorable reimbursement policies and the presence of well-developed healthcare infrastructure, and increasing geriatric population are some of the key driving forces contributing to the growth of the regional market.
The U.S., backed by a large number of patients suffering from Alzheimer’s and Parkinson's diseases, majorly contributes to an increase in the demand for viral vectors in the region. Moreover, factors such as the high healthcare expenditures alongside the availability of viruses required for the production of these vectors and technological expertise drive the growth of the regional market.
The European region, led by the well-established R&D sector accounts for the second-largest market for viral vector manufacturing. Besides, factors such as the availability of funds for research and increasing healthcare expenditures drive the regional market. Moreover, the increase in occurrences of chronic diseases has led to the rise in the market growth in the region. Also, the presence of a developed healthcare sector and the resurging economy in the region foster the growth of the viral vector manufacturing market in Europe.
The viral vector manufacturing market in the Asia Pacific region is emerging as a promising market owing to the huge patient population suffering from diseases such as Parkinson’s, Alzheimer’s, and ALS.

Moreover, continuously growing healthcare sector led by the rapid economic growth in the APAC that is increasing the per capita healthcare expenses is a dominant driving force behind the growth of the regional market. Recent economic data suggests that China along with Southeast Asia is expected to join the ranks of the deep-pocketed Asian economies such as Taiwan and Korea.

China, owing to the presence of a huge geriatric population leads the viral vector manufacturing market in the APAC. Whereas, India due to the vast population base, rapidly changing economy, and the increasing number of manufacturers of these vectors, accounts for the second largest market in the region.

Whereas, the Middle East & Africa (MEA)region has the least market share due to the lack of awareness and low healthcare expenditures. The viral vector manufacturing market in the MEA region will exhibit moderate growth during the corresponding period.

Global Viral Vector Manufacturing Market - Competitive Analysis
The structure of the viral vector manufacturing market is changing due to the acquisition of local manufactures by multinational companies. Due to the increasing competition in the market, multination companies are using the strategy of acquisition, which has increased the profit of the company as well as significantly reduced the competition.

Major Players:
Key players leading the global viral vector manufacturing market include Sanofi, Lonza, FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Merck KGaA, General Electric Company, uniQure N.V., Oxford BioMedica, Spark Therapeutics, Inc., FinVector Vision Therapies, Cobra Biologics, Brammer Bio, Cell and Gene Therapy Catapult, REGENXBIO Inc., and Kaneka Eurogentec S.A. among others.

Industry/Innovation/Related News:
February 04, 2019 ---- SIRION BIOTECH GmbH (Germany), a leading global company providing the most comprehensive viral vector production and customization services announced its expansion in North America, hosting a Bavarian-themed grand opening event at the Forsyth Institute, the US to meet and mingle with the Cambridge gene therapy scene.

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During the event, SIRION also mentioned that Gene therapy has seen robust clinical advancement and Sirion is becoming a preferred partner in this growing sector.
January 28, 2019 ---- SIRION BIOTECH GmbH (Germany), a leading global company providing the most comprehensive viral vector production and customization services announced its partnership with Denali Therapeutics to support local gene therapy research and clinical development with viral vector contract manufacturing. The licensing agreement is about developing a new generation of adeno-associated virus (AAV) vectors.

This ground-breaking licensing agreement (collaboration) is expected to help Denali Therapeutics to increase the availability of protein therapeutics and to quickly enter clinical trials with safe, efficient, and scalable therapeutic candidates.

While, this partnership with Denali, will help Sirion to send its CNS-directed AAV-based gene therapies to the market in the fastest way possible, providing advanced treatment options to millions of patients, worldwide.

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This release was published on openPR.