MRFR Provides Appropriate Analysis of Global Viral Vector Manufacturing Market by Geographical Analysis, Scope, Applications, Products, Prominent Audience, End Users, and Market Players for Global, and Country Level Market Segments, etc
Global Viral Vector Manufacturing Market is expected to register a CAGR Approx. 22.65% with an expected market value of USD 319 million during the forecast period from 2018 to 2023. Gene therapy is one of the preferred treatment options for most chronic diseases, involving insertion of a functional copy of a gene into a defective cell. Viral vector methods are used in effective transfer of therapeutic gene into the target cells.
Several factors such as growing necessity for an effective mode of disease treatment, rise in the number of clinical trials and increase in the number of gene therapy candidates are likely to drive the growth of the market. On the other hand, high cost of gene therapies and possible mutagenesis may hinder the growth of the market during the forecast period.
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The global viral vector manufacturing market is currently dominated by many market players. The major players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in April 2018, GE Healthcare, a subsidiary of General Electric Company, launched a ready-to-run factory-in-a-box to speed up the manufacturing of viral vector-based therapeutics, including viral vector-based vaccines, oncolytic viruses and gene and cell therapies.
Some of the key players in the global viral vector manufacturing market are FinVector Vision Therapies, FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Sanofi, Lonza, Merck KGaA, GENERAL ELECTRIC COMPANY, Oxford BioMedica, Spark Therapeutics, Inc., uniQure N.V., Brammer Bio, Cell and Gene Therapy Catapult, Cobra Biologics, REGENXBIO Inc., and Kaneka Eurogentec S.A.
The global viral vector manufacturing market has been segmented into type, disease, application, and end-user.
The market, on the basis of type, has been segmented retroviral vectors, adenoviral vectors, adeno-associated viral vectors, and other viral vectors.
The market, by retroviral vectors, has been further segmented into lentiviral vectors and gamma-retroviral vectors.
The market, by disease, has been segmented into cancer, genetic disorders, infectious diseases, and others.
The market, by application, has been segmented into gene therapy and vaccinology.
The market, by end-user, has been segmented into pharmaceutical and biotechnology companies, research institutes, and others. The market, by pharmaceutical and biotechnology companies, is expected to hold the largest share in the market owing to the increasing demand for therapies, whereas the research institutes segment is projected to be the fastest growing segment due to growing awareness and specificity of viral vectors in treating the diseases.
The Americas is projected to dominate the global viral vector manufacturing market due to a well-developed healthcare sector and rising prevalence of autoimmune and chronic diseases. According to a study published by Partnership to Fight Chronic Disease (PFCD) in 2016, 191 million people in America had at least 1 chronic disease, whereas 75 million had 2 or more chronic diseases in the year 2015. Europe is expected to hold the second largest position in the global viral vector manufacturing market. The market growth in this region is attributed to the availability of funds for research and increasing healthcare expenditure. According to the European Commission, in 2016 the total expenditure of the governments of the European Union on health amounted to 7.1% of GDP. Also, according to National Institute of Health Funding (NIHR) in the year 2016, a funding of Euro 928 million was announced for new NIHR Biomedical Research Centres (BRC) and NIHR Clinical Research Facilities (CRF) for 5 years starting from April 2017.
Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population and continuously developing economies. On the other hand, the Middle East and Africa has the least share of the market.
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