Sunday, 14 April 2024
Friday, 02 Feb 2024 12:00 am

Viral Vector Manufacturing Market is expected to reach US$ 5.00 billion by 2030

The viral vector manufacturing market is estimated to secure US$ 5.00 billion by 2030. Forecast by type, end-user, & geography.

By The Insight Partners

Adeno-Associated Viral Vectors, by Type, to Dominate Viral Vector Manufacturing Market Share During 2022–2030

According to our new research study on "Viral Vector Manufacturing Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis," the market is expected to grow from US$ 1.29 billion in 2022 to US$ 5.00 billion by 2030; the market is anticipated to record a CAGR of 18.4% from 2022 to 2030. Key factors driving the market growth are increasing clinical studies and development of viral-vector therapeutics and increasing demand for gene therapy. However, the complex viral-vector development process hinders the growth of the market. Furthermore, technological advancements and strategic activities by viral vector manufacturers are expected to bring new viral vector manufacturing market trends in the coming years.

The prevalence of genetic diseases is rising across the world and impacting the health of people at a severe level. Genetic diseases show many symptoms that are uncommon and are mostly non-curable. Most genetic diseases are rare and are developed due to mutations in people's genetic makeup. According to The World Health Organization (WHO), 10 out of every 1,000 people were affected by single-gene diseases in 2021, signifying that 70 million and 80 million people worldwide live with any single type of single-gene disease. According to the Global Genes, ~7,000 known rare diseases and disorders have been identified worldwide, and more are discovered yearly. According to the University of Sheffield research, ~300 million people are living with genetic diseases around the world. In 2022, a report by MJH Life Sciences (US) estimated that 300,000 newborns worldwide are born with sickle cell disease yearly, accounting for ∼5% of the global population. Also, as per the study titled "Sickle Cell Disease," published in August 2023, 1 in 500 African Americans is affected by sickle cell disease, and ∼1 in 12 African Americans carry the autosomal recessive mutation. In June 2020, as per Novartis AG (Switzerland) report, ∼15,000 individuals had sickle cell disease in the UK, and 270 newborns are diagnosed with the condition every year. In Asia Pacific and the Middle East, a significantly large population is diagnosed with genetic diseases due to consanguineous marriage favored in many communities. To control these conditions, countries in the Middle East are mandatorily conducting genetic evaluations for couples getting married so that the prevalence of these diseases can be managed and treated. Thus, the rising prevalence of genetic diseases fuels the demand for gene therapies, which drives the viral vector manufacturing market growth.

Viral Vector Manufacturing Market, by Geography, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00038970 Source: The Insight Partners Analysis

The viral vector manufacturing market analysis is carried out by identifying and evaluating key players in the market across different regions. Charles River Laboratories, Merck KGaA, Biovian Oy, Global Life Sciences Solutions USA LLC, Lonza Group Ltd, Creative Biogene, VIVEbiotech SL, Genezen Laboratories Inc, GenScript Biotech Corporation, and AGC Biologics are among the prominent players profiled in the viral vector manufacturing market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem.

The viral vector manufacturing market forecast can help stakeholders plan their growth strategies. In July 2023, Biovian Oy announced an expansion of its manufacturing facility in Turku, Finland. The company announced a major investment of over €50 million (~US$ 55) for a facility with an area of 69,000 sq.ft. The facility houses advanced technologies and cutting-edge equipment to support the development and manufacturing of advanced therapy medicinal products, such as adenoviral and AAV (adeno-associated viral) therapies. The manufacturing facility also features dedicated Class A to D cleanroom areas for bulk drug materials and final drug product manufacturing.

Similarly, in May 2023, AGC Biologics, the leading biopharmaceutical contract development and manufacturing organization (CDMO) in the world, launched two viral vector platforms: BravoAAV and ProntoLVV. AGC Biologics' innovative platforms provide quick, effective, and repeatable clinical and commercial GMP production and release by utilizing their combined 30 years of experience in the development, manufacturing, and analyses of lentiviral vector (LVV) and AAVs. The CDMO can offer GMP products in nine months because of its patented methodology and capsid-specific platform approaches, which can shorten development time. 

In terms of revenue, North America dominated the viral vector manufacturing market share. The developments in medical infrastructure, the prevalence of cancer and genetic disorders, and the increasing expenditure on healthcare services across the US are the key factors, driving the growth of the market in the country. For instance, according to the American Cancer Society estimates, in 2022, ~1.9 million new cancer cases were diagnosed, and more than 609,000 cancer deaths were reported in the US. Thus, the use of viral vectors in clinical trials, vaccine development, and biomedical research for cancer treatment and other diseases will substantially impact the viral vector manufacturing market growth.

The viral vector manufacturing market is segmented into type, disease indication, application, and end user. 

Based on type, the viral vector manufacturing market is divided into adenoviral vectors, adeno-associated viral vectors, lentiviral vectors, retroviral vectors, and others. The adeno-associated viral vectors segment held the largest share in 2022. The lentiviral vectors segment is anticipated to register the highest CAGR during 2022–2030.

By disease indication, the market is segmented into cancer, genetic disorders, infectious disease, and others. The cancer segment held the largest market share in 2022 and the genetic disorders segment is anticipated to register the highest CAGR from 2022 to 2030.

In terms of application, the market is differentiated into therapeutics development, vaccine development, and research. In 2022, the vaccine development segment held the largest market share, and the therapeutics development segment is anticipated to register the highest CAGR during 2022–2030.

Based on end user, the market is segmented into pharmaceutical & biotechnology companies, research institutes, and CDMOs & CROs. In 2022, the pharmaceutical & biotechnology companies segment held the largest market share and is anticipated to register the highest CAGR during 2022–2030.

The scope of the viral vector manufacturing market report covers North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Contact Us
Contact Person: Content Team 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy