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.
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).
Download PDF Brochure :
Based on disease, the market is segmented into cancer, genetic disorders, infectious diseases, and other diseases. In 2018, cancer is expected to account for the largest share of the global market. Its large share can be attributed to growing research on viral vector gene therapies for cancer.
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.
Comments
Post a Comment