Global Viral Vector and Plasmid DNA Manufacturing Market – Insights
Viral vector and plasmid DNA manufacturing aids to generate a vast array of immune response types and to reduce the periodic medication dosage in order to mitigate disease management expanses. The global viral vector and plasmid DNA manufacturing market size was valued at US$ 427.2 million in 2019, and is expected to exhibit a CAGR of 22.8% over the forecast period (2019 – 2027).
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Global Viral Vector and Plasmid DNA Manufacturing Market: Drivers
High incidence of inherited disorders and cancer is expected to boost growth of the market. For instance, according to the World Health Organization (WHO), 2012, cancer is the second leading cause of morbidity and mortality worldwide, with around 14 million new cases registered in 2012, and was responsible for 8.8 million deaths worldwide in 2015. Moreover, according to the same source, the number of new cases of cancer is expected to rise by around 70% by the end of 2030. According to the International Quarterly Journal of Research in Ayurveda, 2010, around 20 – 30% of all infant deaths are due to genetic disorders and around 11.1% of pediatric hospital admissions are for children with inherited disorders.
Increasing awareness regarding gene therapy is also contributing to growth of the viral vector and plasmid DNA manufacturing market over the forecast period. For instance, in November 2018, the National Institutes of Health (NIH) launched a new initiative to accelerate adoption of gene therapy to cure around 20 million patients diagnosed with sickle cell disease.
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Global Viral Vector and Plasmid DNA Manufacturing Market: Restraints
However, stringent regulatory guidelines, complications such as risk of mutagenesis, and safety and efficacy issues are expected to hinder adoption of gene therapy, thereby hampering the market growth.
Global Viral Vector and Plasmid DNA Manufacturing Market: Regional Analysis
On the basis of region, the global viral vector and plasmid DNA manufacturing market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America is expected to account for the largest market share. This is attributed to increasing prevalence of viral infection in the region. For instance, according to the National Center for Biotechnology Information (NCBI), December 2017, around 98 cases diagnosed with Powassan Virus were reported from 1999 to 2016, with an increase of 671% cases from 1999 to 2016.
Moreover, increasing R&D in the field of viral vector and plasmid DNA manufacturing is expected to boost growth of the market in the region. For instance, in April 2017, Transgene announced plans for a new clinical research collaboration of investigational therapeutic vaccine TG4010 in combination with Bristol-Myers Squibb’s Opdivo (nivolumab) with standard chemotherapy (CT) as a first-line treatment for advanced non-squamous, non-small cell lung cancer (NSCLC) in patients, which is under Phase 2 clinical trial.
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Global Viral Vector and Plasmid DNA Manufacturing Market: Competitive Landscape
Major players operating in the global viral vector and plasmid DNA manufacturing market include, UniQure, MassBiologics, 4D Molecular Therapeutics, Kaneka Eurogentec S.A., FinVector, Brammer Bio, Cell and Gene Therapy Catapult, Transgene SA, FUJIFILM Diosynth Biotechnologies, Sanofi, Spark Therapeutics, Cobra Biologics, Renova Therapeutics, Shenzhen SiBiono GeneTech Co., Ltd., and Thermo Fisher Scientific, Inc.
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