The global viral vector manufacturing market was valued at USD 273.2 million in 2017 and is expected to grow at a CAGR of 20.0% during the forecast period to reach to USD 815.8 million by 2023. The base year considered for the study is 2017 and the forecast for the market size is provided for the period between 2018 and 2023.
By application, the viral vector manufacturing market is segmented into gene therapy and vaccinology. The gene therapy segment is expected to grow at the highest rate during the forecast period. The availability of effective viral vector gene therapies for rare diseases and cancers, ongoing research activities on viral vector gene therapies, and the recent approval of several viral vector gene therapies are driving the growth of this market.
Based on end users, the viral vector manufacturing market is segmented into pharmaceutical and biopharmaceutical companies and research institutes. In 2018, pharmaceutical and biopharmaceutical companies are expected to account for the largest share of the global market. The successful launch of viral vector gene therapies and a robust pipeline of such therapies are the key factors contributing to the growth of the pharmaceutical and biopharmaceutical companies segment during the forecast period.
Geographically, Asia Pacific is expected to grow at the fastest rate viral vector manufacturing market during the forecast period. The fast growth of this regional segment can be attributed to the growing research activities to launch novel gene therapies in the untapped markets of this region.
While the overall market is expected to grow during the forecast period, the high price of gene therapies and short shelf-life of viral vectors are likely to restrain the growth of this market to a certain extent. The major players in the global market include Lonza (Switzerland), Merck (Germany), Oxford BioMedica (UK), CGT Catapult (UK), Cobra Biologics (UK), uniQure (Netherlands), FUJIFILM Diosynth Biotechnologies (US), and Spark Therapeutics (US).
Comments
Post a Comment