Portland, OR, July 13, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Viral Vector Production Market by viral vector type (Adenoviral Vectors, Lentiviral Vectors, Retroviral, Adeno-associated Viral Vectors and Other Viral Vectors), by Indication (Cancer, Genetic Disorders, Infectious Diseases, and Other Diseases), by application (Gene Therapy, and Vaccinology): Global Opportunity Analysis and Industry Forecast, 2023-2032 ". The viral vector production market was valued at $1.1 billion in 2022 and is estimated to reach $6.1 billion by 2032, exhibiting a CAGR of 18.8% from 2023 to 2032.
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Prime determinants of growth
The viral vector production market is driven by the increase in prevalence of genetic disorders, cancer, and advancements in gene therapy and viral vector-based vaccines. Moreover, the rise in awareness and acceptance of gene therapy treatments contributes to the growth of the viral vector production market. Also, rise in funding for R and D activities pertaining to gene therapy, also boost the market growth. There has been a significant rise in funding for research and development activities pertaining to gene therapy in recent years. Thus, the increase in understanding of genetic diseases, advancements in gene editing technologies, and the promising results of early clinical trials have contributed to the growth of the viral vector production market.
Report coverage and details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1.1 billion |
| Market Size in 2032 | $6.1 billion |
| CAGR | 18.8% |
| No. of Pages in Report | 286 |
| Segments covered | Viral Vector Type, Indication, Application and Region |
| Drivers | Rise in prevalence of cancer, infectious diseases, and genetic disorders Increase in demand and awareness for gene therapy Surge in number of strategies adopted by market key players |
| Opportunities | Robust pipeline in gene ther apy and viral vaccines |
| Restraints | High cost associated with viral vector production Regulatory Requirements for viral vector production |
Covid-19 Scenario
- The COVID-19 pandemic had a positive impact on the viral vector production market, both in the short term and long term. This was due to the urgent need for vaccines and therapies to combat the corona virus.
- The development of COVID-19 vaccines and potential gene therapies necessitated the production of enormous quantities of viral vectors. Viral vectors have been employed as delivery vehicles for COVID-19 vaccines to elicit immune responses. The global demand for viral vectors surged, putting pressure on manufacturers to scale up production capacities rapidly. This positively impacted the market growth.
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The adeno-associated viral (AAV) vectors segment to maintain its leadership status throughout the forecast period
Based on viral vector type, the adeno-associated viral (AAV) vectors segment held the highest market share in 2022, accounting for around one-third of the global viral vector production market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the significant demand for these vectors in gene therapies. On the other hand, the lentiviral vectors segment is projected to manifest the highest CAGR of 19.6% from 2023 to 2032, owing to the ability of lentiviral vectors to efficiently transduce both dividing and non-dividing cells during gene therapy.
The cancer segment to maintain its lead position during the forecast period
Based on indication, the cancer segment accounted for the largest share in 2022, accounting for nearly three-fifths of the global viral vector production market revenue and is projected to maintain its lead position during the forecast period. This is owing to the rise in prevalence of cancer cases around the globe.
On the other hand, the genetic disorders segment is anticipated to grow at a fastest CAGR of 19.5% during the forecast period. There is significant potential for vector-based gene therapies in treating genetic disorders. The development of gene therapies targeting specific genetic disorders holds promise for providing potential cures or treatments for these conditions.
The gene therapy segment to maintain its lead position during the forecast period
Based on application, the gene therapy segment accounted for the largest share in 2022, accounting for nearly three-fourths of the global viral vector production market revenue and is anticipated to grow at a fastest CAGR of 19.0% during the forecast period. The growth is attributed to the increasing adoption of gene therapy as a promising treatment approach for various diseases.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global viral vector production market revenue and is likely to dominate the market during the forecast period. This growth is attributed to the high prevalence of cancer and genetic disorders in this region along with well-developed healthcare infrastructure.
However, the Asia-Pacific region is expected to witness the fastest CAGR of 19.8% from 2023 to 2032, owing to large population base in countries such as China and India, rising healthcare expenditure, developing healthcare infrastructure along with rise in people's knowledge regarding gene therapy in this region.
Leading Market Players: -
- Andelyn Biosciences
- Charles River Laboratories
- Danaher Corporation
- FinVector Oy
- Lonza
- Novartis AG
- Oxford Biomedica plc
- Takara Holdings Inc.
- Thermo Fisher Scientific Inc.
- Avid Bioservices Inc.
The report provides a detailed analysis of these key players in the global viral vector production market. These players have adopted different strategies such acquisition, agreement, partnership, collaboration, expansion, product launch, geographical expansion, product approval and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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