Pune, May 19, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a globally recognized healthcare research and business consulting firm, has recently published an extensive market intelligence report titled "Viral Vector Market”. The report presents a comprehensive overview of the market at both regional and global levels. Maximize Market Research predicts a strong growth trajectory for the Viral Vector Market, estimating that its market value will rise from USD 0.60 billion in 2022 to USD 2.13 billion by 2029. This projection reflects a notable compound annual growth rate of 19.7 percent throughout the forecast period.
Viral Vector Market Report Scope and Research Methodology
| Market Size in 2022 | USD 0.60 Bn. |
| Market Size in 2029 | USD 2.13 Bn. |
| CAGR | 19.7 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 268 |
| No. of Tables | 116 |
| No. of Charts and Figures | 110 |
| Segment Covered | Application, Disease, Expression System, End User, and Type. |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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- The Viral Vector Market report is based on primary and secondary research methodologies to obtain qualitative and quantitative data.
- The primary research involved collecting data from key industry leaders, subject matter experts, and market players. The secondary research involved studying company reports, investor presentations, annual reports, and regulatory filings.
- The report uses facts, figures, illustrations, and presentations to provide key data analysis for the historical period from 2018 to 2022. It also investigates the market's drivers, limitations, prospects, and barriers including the company overview, financial overview, global presence, capacity portfolio, business strategy, and recent developments.
- The report offers insights into market participants' data and covers regions such as North America, Asia Pacific, Europe, Middle East & Africa, and South America.
Viral Vector Market Overview
The viral vector is a highly efficient tool for transferring genes into specific cell types, allowing the expression of therapeutic genes. The viral vector market has been impacted by the COVID-19 pandemic, as investments and healthcare spending are increasing, creating new opportunities in the market. In addition, the pandemic highlighted the importance of vaccines, which directly focused on the viral vectors market and their role in the market of vaccine development. The market growth has been supported by various public and private initiatives. North America currently leads the viral vector industry, holding the majority of the market share. In addition, the Asia Pacific region is expected to witness the highest CAGR and the potential to hold a significant market share within the forecasted period.
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Viral Vector Market Dynamics
The Viral Vector Market is primarily driven by the advancements in gene therapy and its application in treating potentially deadly diseases. Gene therapy has garnered significant attention as a potential cure for various diseases, and viral vectors play a critical role in delivering therapeutic genes to target cells. The growing demand for efficient gene treatments has led to an expansion of the viral vector market. These vectors are not only used in gene therapy but also find applications in cell therapy and regenerative medicine. Government support in framework and regulatory bodies like FDA and EMA are helping to streamline the path for the market. This type of regulatory environment indicates a significant amount of opportunity in the viral vector market.
The market faces some of the challenges such as the selection of appropriate production systems, optimization of downstream processes, development quality assays, etc. The process of viral vector multiplication can trigger an immune response in the vector body, which results in less effectiveness of gene therapy. In addition, the transport of viral vectors has challenges such as the blood-brain barrier and cellular receptors, which are present in different tissues and cell types, can hinder the transport of viral vectors.
Viral Vector Market Regional Insights
North America is the leading region in the viral vector market; North America held approximately 36% of the total market share and is expected to show the same dominance over the forecast period. The US leads the way with the highest market share amongst the other countries. Big players have contributed thoroughly to this market growth. Asia Pacific region is also a major market for the viral vector industry and is expected to show rapid growth in the forecasted period. The attributes such as the increasing population, higher demand for healthcare products, and well-developed technology in the region.
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Viral Vector Market Segmentation
By Disease:
- Cancer
- Genetic Disorders
- Infectious Diseases
By Application:
- Gene Therapy
- Vaccinology
Gene therapy is the most value-holding application of the viral vector market and is currently around 66% of this total segment. In addition, vaccinology is also one of the emerging segments in the market and around held 34% of the segment. The growth potential for vaccinology is huge but gene therapy is creating new opportunities for the market.
By Expression System:
- Stable
- Transient
By End User:
- Biopharmaceuticals and Pharma companies
- Research Organisations
By Type:
- Adenoviral Vectors
- Adeno-associated Viral Vectors
- Lentiviral Vectors
- Retroviral Vectors
Key Competitors include:
- Pfizer Inc. (United States)
- Bluebird bio, Inc. (United States)
- Spark Therapeutics, Inc. (United States)
- Sarepta Therapeutics, Inc. (United States)
- Krystal Biotech, Inc. (United States)
- MeiraGTx Holdings PLC (United States)
- Regenxbio Inc. (United States)
- Abeona Therapeutics Inc. (United States)
- Genprex, Inc. (United States)
- Cognate BioServices (United States)
- Brammer Bio (United States)
- Biogen Inc. (United States)
- Dimension Therapeutics (United States)
- Thermo Fisher Scientific Inc. (United States)
- FUJIFILM Diosynth Biotechnologies (Japan)
- Astellas Pharma Inc. (Japan)
- Lonza Group Ltd. (Switzerland)
- Viral Vector Market: Europe
- Merck KGaA (Germany)
- Sanofi S.A. (France)
- UniQure N.V. (Netherlands)
- Cellectis (France)
- Oxford Biomedica PLC (United Kingdom)
- GenSight Biologics (France)
- Genethon (France)
- Novartis AG (Switzerland)
- GeneOne Life Sciences (Brazil)
- GenCell (Colombia)
- Medivir (South Africa)
The US is the global leader and covers nearly 36% of the market. US has invested huge funds in R&D and the presence of many notable companies such as Pfizer, Bluebird Bio, and Spark Therapeutics. Europe is the second largest market on the list and has many key companies like Oxford Biomedica, a major viral vector manufacturer. Germany has companies like Merck KGaA, while France has Genethon and Cellectis among its prominent players.
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Key questions answered in the Viral Vector Market are:
- What is Viral Vector Market?
- What is the expected Viral Vector Market size during the forecast period?
- What was the Viral Vector Market size in 2021?
- Which region dominates the largest market share in Viral Vector Market?
- What are the global trends in the Viral Vector Market?
- What are the upcoming industry applications and trends for the Viral Vector Market?
- Who are the leading companies and what are their portfolios in Viral Vector Market?
- Which segment dominated the Viral Vector Market growth?
- What are the major restraints for the Viral Vector Market?
- What is the demand pattern for the Viral Vector Market?
- What growth strategies are the players considering to increase their presence in
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application, and Industry Vertical
- Market Segmentation – A detailed analysis by Disease, Expression System, Application, End User, and Type.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
