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Viral Vector Development Market Report 2023: R&D Consistency Drives Sector Growth

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Ganesh Shinde
Viral Vector Development Market Report 2023: R&D Consistency Drives Sector Growth

The global Viral Vector Development Market is anticipated to flourish at a phenomenal CAGR of 18.7% over the assessment period from 2023 to 2033. The global market is set to enjoy a valuation of US$ 730.7 Million by the end of the year 2023 to reach a valuation of US$ 4.1 Billion by the year 2033. According to the historical analysis, the global viral vector development market expanded at a CAGR of 14.5% from 2017 to 2022. As per the recent studies by FMI, adeno-associated viral vectors (AAV) are leading the market with an expected share of about 37.0% in the year 2023, within the global market. The market value for viral vector development was approximately 35.5% of the overall US$ 30.86 Million of the global cancer gene therapy market in 2022.

Since viral vectors are created in such a way that they utilize animal cell cultures. Furthermore, in some cases, insect cell cultures are essentially made from viruses that naturally infect human or other mammalian cells. Over the last ten years, a tremendous advancement has been witnessed in manufacturing techniques for the development of clinical-grade viral vectors. These techniques are useful for gene therapy methods in order to treat congenital or acquired disorders. AAV and lentiviral vectors are currently being used more frequently for in vivo and ex vivo gene delivery, respectively. Traditional medicine researchers and the medical world believe that hereditary disorders are incurable. Whereas, genetic therapy, on the other hand, heralded a new era in medicine by offering the chance to fix the damaged genes that cause certain inherited illnesses.       

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 Players:

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, and AGC Biologics

Read More@ https://www.futuremarketinsights.com/reports/viral-vector-development-market

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 


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Ganesh Shinde
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