Viral Vector & Plasmid DNA Manufacturing Market Prospects & Upcoming Trends and Opportunities Upto 2027

Transparency Market Research (TMR) has published a new report titled, 'Viral Vector & Plasmid DNA Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027.' According to the report, the global viral vector & plasmid DNA manufacturing market was valued at US$ 0.4 Bn in 2018 and is projected to expand at a CAGR of 23.3% from 2019 to 2027.

Overview

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Viral vector and plasmid DNA are tools to transfer genetic material into cells. Viral vectors are generally utilized as vectors for gene therapy.

There are various types of vectors, such as lentivirus, adenovirus, adeno-associated virus (AAV), and others, which include herpes simplex virus and chimeric viral vectors. Plasmid DNA is also employed as a vector in gene therapy and vaccinology. Plasmid DNA is used as raw material in the production of various viral vectors.

Technological advancements, increase in awareness about viral vector-based treatments, and rise in demand for vector-based products for research are the major factors anticipated to drive the global viral vector & plasmid DNA manufacturing market during the forecast period

North America held major share of the global viral vector & plasmid DNA manufacturing market in 2018. Availability of the U.S. FDA (Food and Drug Administration) approved gene therapy products and rich product pipeline are the factors expected to augment the viral vector & plasmid DNA manufacturing market in the region during the forecast period.

The viral vector & plasmid DNA manufacturing market in Asia Pacific is likely to expand at a high CAGR of 24.5% from 2019 to 2027, due to recent developments in regenerative medicines, rise in prevalence of chronic diseases, and increase in demand for gene therapies. Additionally, demand for viral vector & plasmid DNA is increasing in emerging markets such as India and China.

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Rise in Prevalence of Cancer, Genetic Diseases, and Infectious Diseases to Propel Global Viral Vector & Plasmid DNA Manufacturing Market

Rise in prevalence of cancer and genetic diseases is projected to augment the global viral vector & plasmid DNA manufacturing market during the forecast period

According to the Cancer Research UK, 17 million new cases of cancer were reported globally in 2018 and the four most common types of cancer were breast, lung, bowel, and prostate, which account for around 43% of all new cases

According to the National Cancer Institute, cancer is among the leading causes of death across the world, and the number of new cases per year is anticipated to rise to 23.6 million by 2030.

Plasmid DNA Segment Dominated Global Viral Vector & Plasmid DNA Manufacturing Market

In terms of type, the global viral vector & plasmid DNA manufacturing market can be classified into lentivirus, adenovirus, adeno-associated virus (AAV), plasmid DNA, and others

The plasmid DNA segment dominated the global viral vector & plasmid DNA manufacturing market in 2018 and the trend is expected to continue during the forecast period

Increase in use of plasmid DNA as raw material in the manufacture of viral vectors is likely to drive the segment during the forecast period

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Cancer to be Promising Segment of Global Viral Vector & Plasmid DNA Manufacturing Market

Based on disease, the global viral vector & plasmid DNA manufacturing market has been categorized into genetic disorders, cancer, infectious diseases, and others

The cancer segment dominated the global viral vector & plasmid DNA manufacturing market in 2018 and the trend is projected to continue during the forecast period owing to large number of ongoing clinical trials and availability of approved viral vector-based cancer drugs

Biotech Companies to be Lucrative Segment of Global Viral Vector & Plasmid DNA Manufacturing Market

In terms of end-user, the global viral vector & plasmid DNA manufacturing market has been categorized into biotech companies and research institutes

The biotech companies segment held major share of the global viral vector & plasmid DNA manufacturing market in 2018

Increase in number of viral vector-based cancer drugs being manufactured by multinational players and several clinical trials underway for the treatment of various cancers are anticipated to propel the segment during the forecast period

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North America to Dominate Global Market; Asia Pacific to Offer Significant Incremental Opportunity

In terms of region, the global viral vector & plasmid DNA manufacturing market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa

North America is projected to account for major share of the global viral vector & plasmid DNA manufacturing market during the forecast period, owing to high acceptance of viral vector-based gene therapies for the treatment of rare diseases and availability of FDA-approved gene therapies

The viral vector & plasmid DNA manufacturing market in Asia Pacific is anticipated to grow at a rapid pace in the next few years. Several ongoing gene therapy clinical trials in countries in China and Japan and high incidence of cancer are likely to fuel the growth of the market in the emerging countries of Asia Pacific

Key Players in Global Viral Vector & Plasmid DNA Manufacturing Market

Key players operating in the global viral vector & plasmid DNA manufacturing market include CobraBiologics, Novasep Inc., Cell and Gene Therapy Catapult, Kaneka Eurogentec S.A., FUJIFILM Diosynth Biotechnologies, Inc., Spark Therapeutics, Inc. Merck KGaA, uniQure N.V., and Lonza.

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This release was published on openPR.