SEATTLE, Feb. 14, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global viral vector and plasmid DNA manufacturing market was valued at US$ 290.0 million in 2017, and is projected to exhibit a CAGR of 22.5% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Viral Vector and Plasmid DNA Manufacturing Market:
Factors such as increasing prevalence of inherited disease, cancer, and viral infection, rising funding by governments and other organizations to support gene therapy in clinical trial, rising awareness regarding gene therapy, and increasing research and development activities of plasmid DNA, viral vector, and gene therapy are expected to increase growth of the global viral vector and plasmid DNA manufacturing market.
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Market players are actively investing in research for developing vector and plasmid DNA. Moreover, the players are committed in offering new and improved products in order to address the critical unmet needs of patients. For instance, in January 2016, Transgene S.A. announced the initiation of randomized Phase 3 open label study with the Pexa-Vec (Oncolytic immunotherapy), in patients with hepatocellular carcinoma (HCC).
Moreover, key players operating in the market are focused on adopting various business strategies, in order to gain access to innovative products and expand its product offerings in the potential markets. For instance, in October 2011, Cobra Biologics acquired Unitech Pharma Group to expand and grow its business and address the needs of patients through high-value innovative medicines.
However, risk of mutagenesis, lengthy laboratory procedures for conducting clinical studies, and safety and efficacy issues are expected to hinder the market growth. For instance, some viral vectors, such as gamma-retroviruses, insert its genomes at random location on the host chromosomes, which can lead to cancer.
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Key Market Takeaways:
- The viral vector and plasmid DNA manufacturing market is expected to exhibit a CAGR of 22.5% during the forecast period (2018 – 2026), attributed to increasing number of cancer, inherited disorders and viral infections. For instance, in September 2018, World Health Organization (WHO), stated that cancer is the second largest cause of deaths, globally.
- Market growth is attributed to increasing approval and new launches of novel viral vector and plasmid DNA to treat patients diagnosed with cancer or other diseases. For instance, in April 2018, GE Healthcare launched ‘ready-to-run factory-in-a-box’ that speeds up production of viral vector-based therapeutics. This includes viral vector-based vaccines, oncolytic viruses, and gene and cell therapies.
- Key players in the market are focused on adopting various business strategies to enhance its product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance, in September 2018, Amicus Therapeutics acquired Celenex, a spinout of Nationwide Children’s Hospital. It expanded Amicus Therapeutics’ portfolio of rare disease drug development into gene therapy with 10 clinical and preclinical programs in neurologic lysosomal storage disorders (LSDs).
- Key players operating in the global viral vector and plasmid DNA manufacturing market include, Kaneka Eurogentec S.A., FinVector, Brammer Bio, Cell and Gene Therapy Catapult, Transgene SA, FUJIFILM Diosynth Biotechnologies, Sanofi, Spark Therapeutics, Cobra Biologics, UniQure , MassBiologics, 4D Molecular Therapeutics, Renova Therapeutics, Shenzhen SiBiono GeneTech Co., Ltd., and Thermo Fisher Scientific, Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.