Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Lentiviral Vectors Market, By Product Type (1st-generation, 2nd-generation, and 3rd-generation), By Indication (HIV, β-thalassemia, X-linked Adrenoleukodystrophy, Metachromatic Leukodystrophy, and Wiskott-Aldrich Syndrome), By End User (Hospitals, Clinics, and Research Institutes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 176.9 million in 2020 and is expected to exhibit a CAGR of 18.3% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Increasing technological advancements by market players is expected to boost the global lentiviral vectors market growth over the forecast period. For instance, in April 2018, Takara Bio USA, Inc. developed a rapid test for the measurement of recombinant lentivirus titers using a smartphone.
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Similarly, in October 2018, Tokyo Medical and Dental University (TMDU) announced that the researchers of the university developed a method to increase the released lentiviral particles produced by host cells, to facilitate the use of the lentiviral vectors for introducing foreign genes into cells.
Global Lentiviral Vectors Market – Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has drastically affected clinical trials. Many trials have paused enrollment and researchers are facing multiple challenges associated with setting up remote visits, performing laboratory, and other study assessments.
According to a survey conducted by Medidata Solutions, Inc. (an American technology company, which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents postponed their studies. Moreover, on March 25, 2020, Reuters, an international news organization, reported that major market players such as Pfizer Inc, Eli Lilly and Company, and Bristol Myers Squibb have delayed patient recruitment in new and ongoing global trials due to the coronavirus outbreak.
Browse 54 Market Data Tables and 48 Figures spread through 237 Pages and in-depth TOC on “Lentiviral Vectors Market”- Global Forecast to 2027, By Product Type (1st-generation, 2nd-generation, and 3rd-generation), By Indication (HIV, β-thalassemia, X-linked Adrenoleukodystrophy, Metachromatic Leukodystrophy, and Wiskott-Aldrich Syndrome), By End User (Hospitals, Clinics, and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the global lentiviral vectors market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/lentiviral-vectors-market-3326
However, many research institutes are focusing on development of vaccine for COVID-19 using various gene therapies, which include lentiviral vectors. For instance, Shenzhen Geno-Immune Medical Institute initiated a phase 1 clinical trial on February 15, 2020, to assess the safety and immunity of a Covid-19 coronavirus artificial antigen presenting cell vaccine using efficient lentiviral vectors system.
Market players are focusing on various inorganic growth strategies such as collaborations and agreements, which is expected to drive the market growth over the forecast period. For instance, on July 15, 2020, Orchard Therapeutics, a biotech company which focuses on gene therapies, entered into two global royalty-bearing license agreements with GlaxoSmithKline plc, for using the lentiviral stable cell line technology (LV-SCLT). The LV-SCLT enables the lentiviral vectors to be introduced into a cell line in a single step.
Similarly, in December 2017, Merck KGaA signed a commercial supply agreement with bluebird bio for manufacturing viral vectors. Under the multi-year agreement, Merck KGaA will manufacture lentiviral vectors for bluebird bio.
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Key Takeaways of the Global Lentiviral Vectors Market:
- The global lentiviral vectors market is expected to exhibit a CAGR of 18.3% over the forecast period, owing to increasing agreements and collaborations. For instance, in June 2019, SIRION Biotech GmbH announced that it entered into a license agreement with the National Institute of Allergy and Infectious Diseases (NIAID), to develop gene therapy programs for patients with X-linked severe combined immunodeficiency (SCID-X1), by using SIRION’s LentiBOOST technology.
- Among indication, HIV segment accounted for largest market share in 2019, owing to increasing prevalence of HIV. According to the World Health Organization (WHO), around 160,000 people were diagnosed with HIV in the European Region in 2017.
- Key players operating in the global lentiviral vectors market include Thermo Fisher Scientific, Sirion-Biotech GmbH, Vigene Biosciences, OriGene Technologies, Inc., SignaGen Laboratories, Sino Biological Inc., Takara Bio Inc., Cell Biolabs, Inc., GenTarget Inc., GENEMEDI, and bluebird bio, Inc.
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