Viral Vector Production Market
Number of pages: 100 | Report Format: PDF | Published date: May 12, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 4.30 billion |
|
Revenue Forecast in 2031 |
US$ 32.73 billion |
|
CAGR |
25.3% |
|
Base Year For Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Disease, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global viral vector production market was valued at US$ 4.30 billion in 2022 and is expected to register a revenue CAGR of 25.3% to reach US$ 32.73 billion by 2031.
Viral Vector Production Market Fundamentals
The viral vector is the most effective way of gene transfer to change a particular cell type or tissue and may be controlled to express therapeutic genes. Several virus types are presently being researched to deliver genes to cells for either temporary or permanent transgene expression. Adenoviruses (Ads), retroviruses (-retroviruses and lentiviruses), poxviruses, adeno-associated viruses (AAVs), baculoviruses, and herpes simplex viruses are among them. Gene therapy can use viral vectors to treat various diseases, including cancer, metabolic disorders, heart defects, and neurodegenerative disorders. Vectors have been designed given adenoviruses, adeno-related infections, herpes simplex infections, alphaviruses, lentiviruses, and retroviruses. On the other hand, Chimeric viral-vector systems are being investigated because they combine the advantages of two or more viral systems. One model is the poxviral/retroviral fanciful development that permits cytoplasmic creation of transducing blemished retroviral particles.
The global viral vector production industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the viral vector production market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the viral vector production market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
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Viral Vector Production Market Dynamics
The rising frequency of genetic abnormalities, cancer, and infectious illnesses, the increasing number of clinical trials and funding available for gene therapy development, and prospective uses in innovative drug delivery systems are driving the industry. According to a report published in April 2022 by the Foundation for Food and Agriculture Research, African Swine Fever (ASF) has emerged as one of the highly contagious viruses that cause 100% mortality in swine. There is currently no commercially available vaccination to treat the condition. As a result, the Foundation for Food & Agricultural Research gave Genvax Technologies 145,000 USD to work with the United States Department of Agriculture-Agricultural Research Services-Plum Island Animal Disease Center (USDA-ARS-PIADC) to develop a self-amplifying messenger RNA (saRNA) vaccine for African Swine Fever. Major corporations are focusing on the development and production of viral vector products due to the prevalence of numerous infectious and viral diseases.
Viral Vector Production Market Ecosystem
Viral Vector Production Market, by Type
Viral Vector Production Market, by Disease
Viral Vector Production Market, by Application
Viral Vector Production Market by Disease
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The cancer segment will likely dominate the market during the forecast period, with a revenue share of about 35%. The upsurge in the global incidence of cancer and modern healthcare facilities are significant drivers for the market's growth. According to GLOBOCAN 2020, there were 1,92,92,789 new cancer cases worldwide in 2020, with a projected increase to 2,88,87,940 cases by 2040. In 2022, there will be numerous Phase I, II, III, and IV clinical trials related to viral vectors for treating various types of cancers such as brain, skin, liver, colon, breast, and kidney. These trials are being done in several academic institutes and biotechnology businesses. For example, as of November 17, 2022, there were more than 663 ongoing interventional clinical trials related to gene therapy in various stages of development for cancer worldwide.
Additionally, as the recombinant viral vectors are highly effective carriers of sequences encoding virus-disabling sequences, the appropriate and exact viral vectors usually need to be selected and adapted for application in treating specific viral infections. Significant governmental and commercial sector initiatives are now underway for the development of viral vector vaccines, prompting major firms to engage in capacity expansion for manufacturing operations. For example, Thermo Fisher opened a new manufacturing facility for viral vector production in Plainville, Massachusetts, in August 2022. The 300,000-square-foot plant is opened to manufacture viral vectors, critical components in gene therapy development. As a result, these related development activities by major players are expected to boost the market's performance.
The market segmentation sections provide the viral vector production market outlook in terms of the demarcation of different consumer groups. Market segmentation is splitting an industry into subgroups depending on characteristics such as type, disease, application, and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential viral vector production market demand opportunities.
Viral Vector Production Market by Region
North America is likely to dominate the market during the forecast period. Numerous businesses in the area have been developing their facilities and making large financial investments. For instance, Kite, a Gilead Company, reported in October 2022 that the U.S. FDA had given the company's retroviral vector (RVV) manufacturing plant in Oceanside, California, permission to produce viral vectors for sale. These innovations might favor market growth as more research on viral vectors is predicted. In October 2021, Catalent invested USD 230 million to increase the production of viral vectors at its gene therapy campus in Harmans, Maryland.
The region expected to expand the quickest throughout the predicted period is Asia Pacific. This may be attributed to reasons like rising disposable income, more knowledge of cutting-edge treatments like gene therapy and cell-based immunotherapy, and an increase in investments by major companies in developing nations like China and India. Furthermore, because to technical improvements and a favorable regulatory framework, nations like Japan are assisting the market expansion in the area. A number of local players are forming alliances with foreign businesses or buying them, which will enable them to diversify their product offerings while providing affordable solutions.
Based on the regions, the global viral vector production market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of viral vector production industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level viral vector production market overview.
Key Components of the Report
Viral Vector Production Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Viral Vector Production Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Viral vector is the most effective way of gene transfer to change particular cell type or tissue and may be controlled to express therapeutic genes. In order to deliver genes to cells for either temporary or permanent transgene expression, several virus types are presently being researched.
The total viral vector production market size worldwide in 2022 was US$ 4.3 billion.
The North America region will have the largest viral vector production market size during the forecast period from 2023 to 2031.
The revenue CAGR in the global viral vector production expected to have 25.3%.
The resultant market size of the viral vector production market in 2031 will be US$ 32.73 billion.
The high cost of gene therapies is the key challenging factor, i.e. hindering the market growth.
The rising prevalence of genetic disorders, cancer, and infectious diseases is the prime driving factor.
Some of the prominent market players in global viral vector production include Merck KGaA, Lonza, FUJIFILM Diosynth Biotechnologies.
The cancer segment has the highest global viral vector production market share.
*Insights on financial performance are subject to the availability of information in the public domain