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Lentiviral Vector Market is Expected to be Worth US$ 506.7 Million by 2034 | Fact.MR

06-06-2024 05:02 AM CET | Health & Medicine

Press release from: Fact.MR

Lentiviral Vector Market

Lentiviral Vector Market

The North American lentiviral vector market is predicted to expand rapidly, with the United States leading at a 10.8% CAGR through 2034. According to estimates, China would dominate the East Asian lentiviral vector sector with a CAGR of 10.1% until 2034.

The lentiviral vector market was valued at $170.7 million in 2024 and is predicted to increase at an 11.5% CAGR to $506.7 million by 2034.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐š ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.factmr.com/connectus/sample?flag=S&rep_id=9592

The market for lentiviral vectors has grown as non-lentiviral gene therapy have undergone additional research and development. Furthermore, the market is being fueled by increased demand for lentiviral therapy and an increase in infectious disease incidence. Asia Pacific is expected to grow the fastest over the projection period.

The COVID-19 outbreak has had a serious impact on credit portfolios. Unemployment has reached an all-time high, and economic activity has been disrupted, putting customer and corporate solvency at risk. Central banks have taken a proactive approach, injecting liquidity into the market via interest rate reduction and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk in financial markets was already tough due to ongoing geopolitical crises, international trade wars, and the occasional hurricane or earthquake. The present epidemic has prompted chief risk officers and their teams to reconsider established risk management and monitoring assumptions and methods. COVID-19's global impact proved the value of connectedness in international cooperation. As a result, various governments rushed to identify, analyze, and purchase feasible AI-powered solutions.

Category-wise Insights

Academic research institutions and biotech firms are increasingly using lentiviral vector kits. Kits' simplicity, dependability, and cost-effectiveness match the tastes and demands of many research organizations. As academic and biotech research expands, so will the demand for lentiviral vector kits, which are crucial tools for genetic study and pharmaceutical development.

Lentiviral vector kits are typically less expensive than individually purchased reagents. Purchasing a kit eliminates the need for research organizations to buy and test each component separately, lowering overall expenses. This cost-effectiveness is particularly enticing to smaller research teams or universities with limited resources, driving demand for lentiviral vector kits.

Read More: https://www.factmr.com/report/lentiviral-vector-market

Competitive Landscape

Key players in the lentiviral vector market include Oxford BioMedica, Thermo Fisher Scientific, Lonza Group, Sirion Biotech, ViGene Biosciences, SIRION Biotech, Creative Biolabs, GenScript Biotech Corporation, Addgene, and VectorBuilder.

The lentiviral vector market is extremely competitive, with major players vying for market domination and innovation leadership. Leading pharmaceutical and biotechnology businesses fight for a substantial market share in this space, as do an increasing number of young biotech startups. Strategic alliances, collaborations, and mergers and acquisitions are all key elements of the landscape as businesses seek to grow their technological capabilities, diversify their product portfolios, and boost worldwide market penetration.

Recent Developments

In April 2023, Yposkesi, SK Pharmateco's clinical and commercial viral vector manufacturing business, announced the launch of LentiSure, an enhanced platform for creating lentiviral (LV) vectors aimed at enhancing lentivirus production resilience and efficiency.
In September 2022, the FDA gave fast clearance to the gene therapy elivaldogene autotemcel, often known as eli-cel, to decrease the progression of neurological impairment in boys aged 4 to 17 with early, active cerebral adrenoleukodystrophy (CALD). Eli-cel was the first lentiviral vector gene treatment for CALD patients and the second for people with severe genetic abnormalities in the United States. It will also be released under the name SKYSONA.

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐จ๐ซ ๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ: https://www.factmr.com/connectus/sample?flag=RC&rep_id=9592

Lentiviral Vector Market Segmentation

By Product Type:
Kits
Reagents & Consumables
By Indication:
Cancer
Genetic Disorder
Infectious Disease
Veterinary Disease
Others
By End User:
Biotechnology Companies
Pharmaceutical Companies
Contract Research Organization (CRO)
Academic and Research Institutes
By Region:
North America
Europe
Latin America
East Asia
South Asia & Oceania
The Middle East & Africa

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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