Viral Vector Manufacturing Market Research Report: by Type (Retroviral Vectors, Adenoviral Vectors and others), by Disease (Genetic Disorders, Infectious Diseases, and others), by Application (Gene Therapy, Vaccinology), by End User — Forecast till 2027
Viral Vector Manufacturing Market to grow 22.65% CAGR during the Forecast Period 2018 to 2023 :
Overview:
Viral vector manufacturing refers to the production of a carrier called a vector which is genetically engineered to deliver the gene because they can deliver the new gene by infecting the cell. Considered as a drug substance, viral vectors are used in gene therapy and vaccinology (vaccines). In the case of cell therapies, the scrutiny for testing for adventitious agents is high
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Moreover, the support of the government to the companies involved in the development of viral agent-based products in readily increasing. For instance, in March 2016, National Health Service (NHS), a publicly funded national healthcare system for England announced a new process, Health Research Authority (HRA) Approval, for applying for approvals of all project-based research. Thus, this will streamline the approval process for the companies and other research institutes. However high cost of gene therapies and possible mutagenesis may restraint the growth of the market during the forecast period.
Top Players:
Some of the key players in the global viral vector manuacturing market are FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Sanofi, Lonza, Merck KGaA, GENERAL ELECTRIC COMPANY, Kaneka Eurogentec S.A., Oxford BioMedica, Spark Therapeutics, Inc., uniQure N.V., FinVector Vision Therapies, Brammer Bio, Cell and Gene Therapy Catapult, Cobra Biologics and REGENXBIO Inc.
Currently, the Global Viral Vector Manufacturing Market is dominated by several players. The prominent players in this market are involved in new product launches, strategic partnerships to expand their product portfolio. For instance, in February 2016, Cobra Biologics and the Centre for Process Innovation (CPI) announced a collaboration in which the companies will be focusing on the development of a platform for industrial manufacturing of Adeno-Associated Virus (AAV) production to support gene therapy and regenerative medicine.
On the regional basis, the Viral Vector Manufacturing Market in the Americas is anticipated to dominate the market during the forecast period. The market growth in this region is due to the well-developed healthcare sector and rising prevalence of autoimmune and chronic diseases. According to a study published by Partnership to Fight Chronic Disease (PFCD) in 2016, 191 million people in America had at least 1 chronic disease, whereas 75 million had 2 or more chronic diseases in the year 2015.
Segments:
The global viral vector manufacturing market has been segmented into type, disease, and end-user.
Regional Analysis:
The Americas is projected to dominate the global viral vector manufacturing market due to a well-developed healthcare sector and rising prevalence of autoimmune and chronic diseases. According to a study published by Partnership to Fight Chronic Disease (PFCD) in 2016, 191 million people in America had at least 1 chronic disease, whereas 75 million had 2 or more chronic diseases in the year 2015. Europe is expected to hold the second largest position in the global viral vector manufacturing market. The market growth in this region is attributed to the availability of funds for research and increasing healthcare expenditure.
According to the European Commission, in 2016 the total expenditure of the governments of the European Union on health amounted to 7.1% of GDP. Also, according to National Institute of Health Funding (NIHR) in the year 2016, a funding of Euro 928 million was announced for new NIHR Biomedical Research Centres (BRC) and NIHR Clinical Research Facilities (CRF) for 5 years starting from April 2017.
Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population and continuously developing economies. On the other hand, the Middle East and Africa has the least share of the market.
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