The global viral vector development market is on a surge for remarkable growth, according to a recent study by Future Market Insights. By the end of 2023, the market is projected to reach a value of US$ 730.7 million. This momentum is expected to continue, with a Compound Annual Growth Rate (CAGR) of 18.7% propelling the market to a staggering US$ 4.1 billion by 2033.
The study identifies adeno-associated viral vectors (AAV) as a key driver of this growth. AAVs are expected to capture a significant portion of the market share, reaching approximately 37.0% in 2023. Their versatility in gene therapy and vaccine development positions them as a leading force in viral vector development.
This highlights the promising future of viral vector development and the increasing role AAVs play in this rapidly growing field.
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Key findings from the study indicate a robust and sustained demand for viral vector technologies, driven by the increasing adoption of gene therapies and advancements in biotechnology. The versatility and efficacy of adeno-associated viral vectors have positioned them as a preferred choice among researchers and industry players.
The anticipated growth in the viral vector development market signifies a paradigm shift in the healthcare and biotechnology landscape, with significant implications for the development of innovative therapies and treatments. Stakeholders in the pharmaceutical and biotech industries should closely monitor these trends, as they present substantial opportunities for investment and collaboration.
“As the global demand for advanced therapies and personalized medicine continues to rise, viral vector development, especially the prominence of adeno-associated viral vectors, is expected to play a pivotal role in shaping the future of medical treatments,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
This comprehensive study provides valuable insights for industry stakeholders, investors, and decision-makers, offering a strategic outlook on the evolving landscape of viral vector development. The market dynamics and growth trajectory outlined in the report underscore the significance of continued research and innovation in this space.
Key Takeaways:
- Gene therapy is vital to repair suppressed and malfunctioning genes in human cells or tissues and helps in returning the abnormality to a normal level. Viral vector technology is commonly utilized to cultivate the gene. Furthermore, this business has grown for many private players. For the most part, two different types of techniques are used to use viral vectors in the gene therapy-induced healing process.
- When it comes to 2D planer technologies, scaling out of adherent cell systems is one of the common strategies that is applied until the point of market analysis. The production of suspension AAV by diverse segments will, therefore, rely increasingly on 3D suspension cell cultures or bioreactors in the upcoming period.
- The propelling synthesis of viral vectors utilizing cell culture technology has been modified successfully in order to satisfy the demands of both early and advanced clinical trial phases. Scale-up, however, may still be constrained depending on the vector type and the cell culture production platforms chosen.
- At present, visible progress is being made within the generation of cell lines that are able to create inducible or constitutively expressed lentiviral vectors that grow in suspension. Over the past few years, the first batch of lentiviral vectors generated by reliable producer cell lines was utilized in a clinical trial setting.
- With extensive safety and efficiency, the data gathered from numerous clinical trials show that gene therapy is making great progress. These factors are set to promote the expansion of the global market, over the forecast period.
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Competitive Landscape:
Over recent years, the market for the production of plasmid DNA and viral vector CDMO has become extremely competitive. This has resulted in the introduction of numerous companies in these industries. The main tactic used by the leading firms to stay ahead of their rivals is the expansion of production facilities. A cost-effective strategy for the rapid expansion and capacity building for viral vector process development for the manufacturers is the acquisition of small regional companies.
Key Companies Covered:
- Thermo Fisher Scientific Inc
- Charles River (Cobra Biologics)
- NOVASEP
- uniQure N.V
- Waisman Biomanufacturing
- Creative Biogene
- GenScript Biotech Corporation
- Novartis AG
- Merck KGaA
- Takara Bio, Inc.
- FUJIFILM Diosynth Biotechnologies
- LONZA
- Danaher Corp. (Aldevron)
- Sirion Biotech GmbH
- AGC Biologics
More Insights into the Viral Vector Development Market:
The North American region is anticipated to dominate the global viral vector development market over the assessment period as it accounted for a total of 33.1% in 2022. The USA is expected to continue to grow its dominance in the global market within the next decade.
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Key Market Segments Covered in Viral Vector Development Industry Research:
Virus:
- Lentiviral Vectors
- Adenoviral Vectors
- Adeno-Associated Viral Vectors
- Retrovirus
Expression System:
- Transient
- Stable
Application:
- Gene Therapy
- Vaccines
- Cancer Therapy
- Others
End User:
- Biotechnology Companies
- Pharmaceutical Companies
- Contract Research Organization (CRO)
- Academic and Research Institutes
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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