According to a new market research report "Viral Vector Manufacturing Marketby Type (Retrovirus, Gammaretrovirus, AAV), Disease (Cancer, Infectious Disease, Genetic Disorders), Application (Gene Therapy, Vaccinology), End User (Biotech companies, Research Institutes) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 815.8 million by 2023 from an estimated USD 327.8 million in 2018, at a CAGR of 20.0%.
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The key factors driving the growth of this market include rising prevalence of cancer and genetic disorders, funding for the development of novel therapies, effectiveness of viral vectors in gene therapy delivery, and ongoing research into viral vector-based gene and cell therapies.
"The retroviral vectors segment is expected to account for the largest share of the Viral Vector Manufacturing Market by type in 2018"
On the basis of type, the Viral Vector Manufacturing Market is segmented into retroviral vectors, adenoviral vectors, adeno-associated viral vectors, and other viral vectors. Retroviral vectors are expected to hold the largest share in this market in 2018. The large share of these vectors can be attributed to their ease of application in major target diseases such as cancer, and genetic disorders.
"The genetic disorders segment is expected to grow at the highest CAGR during the forecast period"
Based on diseases, the global Viral Vector Manufacturing Market is segmented into cancer, genetic disorders, infectious diseases, and other diseases. During the forecast period, the genetic disorders segment is expected to grow at the highest CAGR in the market. The accelerated research activities on various genetic disorders such as hemophilia A and B, sickle cell anemia, and Huntington's disease and a robust gene therapy pipeline in the last phase of drug development is fueling the growth of this segment.
The gene therapy segment is expected to account for the largest share of Viral Vector Manufacturing Market in 2018"
Based on application, the global Viral Vector Manufacturing Market is segmented into gene therapy and vaccinology. In 2018, the gene therapy segment is expected to hold the largest share in this market and this segment is also expected to grow at the highest rate during the forecast period. The large share and fast growth of this segment can be attributed to the large number of clinical trials conducted for gene therapy on target diseases such as cancer, neurodegenerative diseases, and cardiovascular diseases globally.
"North America is expected to dominate the Viral Vector Manufacturing Market in 2018"
In 2018, North America is estimated to account for the largest share of the Viral Vector Manufacturing Market. Factors such as a large number of regenerative medicine companies (including gene and cell therapy companies), increasing research activities, rising prevalence of target diseases, and availability of funds are supporting the growth of the Viral Vector Manufacturing Market in North America.
The major players in the global Viral Vector Manufacturing Market are Lonza (Switzerland), Merck (Germany), Oxford BioMedica (UK), CGT Catapult (UK), Cobra Biologics (UK), uniQure (Netherlands), FUJIFILM Diosynth Biotechnologies (US), Kaneka Eurogentec (Japan), and Spark Therapeutics (US).
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