Why Viral Vectors and Plasmid DNA Manufacturing Industry is Booming in Current Market Scenario? Study of Top Key Players in this Market
Viral Vectors and Plasmid DNA Manufacturing Market Analysis
The Viral Vectors and Plasmid DNA Manufacturing Market was valued at USD 4.4 billion in 2022 and is expected to reach USD 19.4 billion by 2030, growing at a CAGR of 20.4% during the forecast period from 2023 to 2030. This market is set for substantial growth due to the increasing demand for gene therapy, the rising prevalence of genetic disorders, and advancements in biopharmaceutical production technologies. Additionally, growing investment in research and development (R&D) and the development of innovative therapies are further propelling market expansion.
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Key Market Dynamics
- Market Drivers
- Increasing demand for gene therapy
- Rising prevalence of genetic disorders
- Technological advancements in biopharmaceutical production
- Market Restraints
- High cost associated with manufacturing
- Regulatory challenges
Key Market Segmentation
- By Vector Type
- Viral Vectors
- Adenoviral Vectors
- Retroviral Vectors
- Lentiviral Vectors
- Others
- Plasmid DNA
- Viral Vectors
- By Application
- Gene Therapy
- Vaccinology
- Immunotherapy
- Others
- By End-User
- Pharmaceutical and Biotechnology Companies
- Research Institutes
- Contract Manufacturing Organizations (CMOs)
Key Players
- Thermo Fisher Scientific Inc.
- Lonza Group AG
- Merck KGaA
- Oxford Biomedica plc
- Aldevron
- Takara Bio Inc.
- Cobra Biologics
- Wuxi AppTec
- Catalent Inc.
- GenScript Biotech Corporation
Recent Developments
- In May 2023, Lonza Group AG announced the expansion of its viral vector manufacturing capabilities, aiming to enhance its production capacity and meet the growing demand for gene therapy products.
- In March 2023, Thermo Fisher Scientific Inc. launched a new plasmid DNA manufacturing service, providing high-quality plasmid DNA for gene therapy and vaccine development.
Regional Insights
North America holds the largest share of the viral vectors and plasmid DNA manufacturing market, driven by advanced healthcare infrastructure, significant investment in R&D, and the presence of key market players. Europe and Asia-Pacific are also witnessing considerable growth due to increasing healthcare expenditure, rising prevalence of genetic disorders, and supportive government initiatives.
Conclusion
The viral vectors and plasmid DNA manufacturing market is set to witness substantial growth, driven by the increasing demand for gene therapy and advancements in biopharmaceutical production technologies. Companies are focusing on innovation and strategic collaborations to capitalize on emerging opportunities in the viral vectors and plasmid DNA manufacturing market.
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