DUBLIN--(BUSINESS WIRE)--The "Global Viral Vector and Plasmid Manufacturing Market: Focus on Vector Type, Application, Disease, 5 Region's Data, 15 Countries' Data, Patent Landscape and Competitive Insights - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
According to this report the global viral vector and plasmid manufacturing market was valued at $1.16 billion in 2019 and is expected to be $5.86 billion in 2030.
The viral vector and plasmid manufacturing market is expected to grow at a lower double-digit compound annual growth rate in the forecast period 2020-2030. The growing prominence of vector-based gene therapy products and high funding activities in research for the development of novel therapies, coupled with an increasing prevalence of diseases, such as cancer, genetic diseases, and infectious diseases, is prominently driving the growth of the global viral vector and plasmid manufacturing market.
The rising prevalence of diseases has led to an increasing demand for the development of advanced therapies and drugs to meet the needs of the growing patient population. The advent of cell and gene therapy has offered the high potential to treat diseases that are otherwise incurable by conventional treatment modalities. Both therapies encompass the use of vector, as gene delivery vehicles, for the introduction of a therapeutic gene into the target cell in order to provide a cure or remedy to disease. Extensive progress made in gene and cell therapy research since the early 1970s and 1980s has, therefore, accelerated the adoption rate of plasmids and viral vectors for their use in these modern therapies.
Progress made in the field of vaccinology, involving the use of vectors, has further intensified the demand for these vectors. A large number of preclinical and clinical studies evaluating the potential of vectors in these advanced therapies have further displayed promising results. This, in turn, has attracted the attention of investors, making viral vector and plasmid manufacturing market an active area of investment as well as encouraging favorable funding activities from both the private and public sectors.
Currently, the global viral vector and plasmid manufacturing market is witnessing the entry of several contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs) that are striving hard to sustain the competition with the main goal to increase the production of vectors that would be both cost-effective and of superior quality. The market is currently dominated by juggernauts, such as Lonza, Thermo Fisher Scientific Inc, Merck KGaA, GE Healthcare, Sartorius AG, and other small-medium enterprises, which offer a wide range of vector manufacturing products and services to the market.
Key Questions Answered:
- What is a vector, and what is its importance in the medical industry? What are the major characteristics and types of vectors? What are the areas of application of vectors?
- What are the major advancements in the viral vector and plasmid manufacturing sector? What are the key trends of the global viral vector and plasmid manufacturing market? How is the market evolving and what is its future scope?
- What are the major drivers, challenges, and opportunities of the global viral vector and plasmid manufacturing market?
- What are the key developmental strategies implemented by the key players of the global viral vector and plasmid manufacturing market to sustain the competition of the market? What is the percentage share of each of the key players in different key developmental strategies?
- What is the regulatory scenario of the global viral vector and plasmid manufacturing market? What are the initiatives implemented by different governmental bodies and guidelines put forward to regulate the commercialization of viral vector and plasmid manufacturing products?
- What are the major milestones in patenting activity in the global viral vector and plasmid manufacturing market?
- Which region is expected to contribute the highest sales to the global viral vector and plasmid manufacturing market during the period between 2019 and 2030? Which region and country carry the potential for significant expansion of key companies in the viral vector and plasmid manufacturing market? What are the leading countries of different regions that contribute significantly toward the growth of the market?
- Which are the key players of the global viral vector and plasmid manufacturing market, and what are their roles in the market? What was the market share of the key players in 2019?
Market Dynamics
Drivers
- Rapid Uptake of Viral Vectors and Plasmid for the Development of Innovative Therapies
- Rising Prevalence of Cancer, Genetic Disorders, and Infectious Diseases
- Increasing Number of Clinical Studies for the Development of Gene Therapy
- Favorable Funding Scenario for Vector-Based Therapies
Restraints
- Unaffordable Cost of Gene Therapies
- High Manufacturing Costs of Viral Vectors and Plasmids
- Complications Associated With Large-Scale Production of Vectors
Opportunities
- Rising Demand for Synthetic Genes
- Emergence of Next-Generation Vectors
Companies Profiled
- Aldevron, LLC
- Boehringer Ingelheim
- Catalent, Inc.
- Fujifilm Holdings Corporation
- General Electric
- GenScript
- Lonza
- Merck KGaA
- MolMed S.p.A.
- Novasep Holding SAS
- Oxford Biomedica plc
- Sartorius AG
- Takara Bio Inc.
- Thermo Fisher Scientific Inc.
- WuXi AppTec
For more information about this report visit https://www.researchandmarkets.com/r/qy82g1
