Lentiviral vectors are advanced gene delivery tools that are widely used for stable transduction and integration of foreign genes into the genomes of dividing and non-dividing mammalian cells. Lentiviruses belonging to the retrovirus family have the unique ability to transduce non-dividing cells. With their large carrying capacity and ability to mediate long-term expression, lentiviral vectors have become a mainstay for basic research in cell biology and gene therapy development.
The global Lentiviral Vectors market is estimated to be valued at US$ 292 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
Growing Demand for Gene Therapy Drugs: Lentiviral vectors are a key tool in developing gene therapy to treat congenital and acquired diseases. Their unique ability to integrate therapeutic genes permanently into host genomes makes them suitable for therapies targeting chronic diseases. The high success rates of lentiviral gene therapy clinical trials and approval of commercial drugs is expected to boost demand significantly over the coming years.
Porter's Analysis
Threat of new entrants: The lentiviral vectors market requires high capital investments in R&D facilities and manufacturing infrastructure, posing moderate threat of new entrants.
Bargaining power of buyers: The availability of alternative transfection methods with their own advantages and disadvantages provides moderate bargaining power to buyers.
Bargaining power of suppliers: Established key players hold major market share in gene therapies, restricting suppliers' bargaining power.
Threat of new substitutes: Advanced gene therapies and emerging novel transfection methods pose threat of substitution.
Competitive rivalry: Competition is high among key players to develop safer and more efficient lentiviral vectors.
SWOT Analysis
Strengths: Lentiviral vectors have high transfection efficiency and ability to integrate into non-dividing cells.
Weaknesses: Complex production processes increase costs and regulatory issues related to potential genotoxicity.
Opportunities: Increasing R&D in cell and gene therapies drives demand. Growing focus on personalized medicines presents opportunities.
Threats: Emerging transfection methods may replace lentiviral vectors. Stringent regulations delay product approvals.
Key Takeaways
The global Lentiviral Vectors Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global Lentiviral Vectors Market is estimated to be valued at US$ 292 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030.
The North America region currently dominates the market due to presence of major players and increasing R&D expenditure on gene therapies. Key regional markets include the US, Canada and major countries in Europe.
Key players operating in the lentiviral vectors market are Thermo Fisher Scientific Inc., Sirion-Biotech GmbH (Revvity), Vector Biolabs, OriGene Technologies, Inc., SignaGen Laboratories, Sino Biological, Inc., Takara Bio Inc., Cell Biolabs, Inc., GenTarget Inc., GENEMEDI, bluebird bio, Inc., Cellomics Technology, LLC., Virica Biotech, Oxford Biomedica, and ANDELYN BIOSCIENCES.
For more insights, read- https://www.pressreleasebulletin.com/lentiviral-vectors-market-trends-size-and-share-analysis/
