Viral Vector Production Market to Hit US$ 32.73 Billion by 2031, Says Growth Plus Reports
Newark, New Castle, USA, June 27, 2023 (GLOBE NEWSWIRE) — The market analysis of the global viral vector production market was conducted by Growth Plus Reports in 2022 and is valued at US$ 4.30 billion. The market is expected to hit a revenue CAGR of 25.3% to reach US$ 32.73 billion by 2031.
The Viral Vector Production market refers to the global industry focused on the production and manufacturing of viral vectors for gene therapy and vaccine development. Viral vectors are genetically engineered viruses that serve as delivery vehicles to transfer therapeutic genes or vaccine antigens into target cells. They are critical components in the field of gene therapy, which aims to treat genetic disorders by introducing therapeutic genes into the patient’s cells, as well as in vaccine development, where they play a key role in delivering antigens to stimulate the immune system.
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Viral Vector Production Market Scope
|Market Size Value in 2022||US$ 4.30 billion|
|Revenue Forecast in 2031||US$ 32.73 billion|
|Base Year for Estimation||2022|
|Forecast Period||2023 to 2031|
|Segments Covered||Type, Disease, Application, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
Analysis of the global market for viral vector production indicates that during the forecast period, revenue share is likely to increase significantly. The Viral Vector Production market is experiencing significant growth and is a crucial component of the biotechnology and pharmaceutical industries. Viral vectors, which are genetically modified viruses used to deliver therapeutic genes or vaccine antigens, play a pivotal role in gene therapy and vaccine development.
This market revenue is driven by factors such as the rising prevalence of genetic disorders and infectious diseases, the growing adoption of gene therapies, and advancements in biotechnology. The increasing demand for targeted and personalized treatments, along with favorable regulatory frameworks and funding support, further fuel the market’s expansion. Key players are focused on developing efficient and scalable production processes, optimizing cell culture systems, and enhancing quality control measures. The viral vector production market is poised for continuous growth as it enables innovative therapies and vaccines for a range of diseases and conditions.
Recent Development in the Viral Vector Production Market:
The R/R various myeloma medication ABECMA (idecabtagene vicleucel), based on lentivirus technology, received FDA approval in March 2021. As gene therapy approvals grow and manufacturing capacity increases, it is anticipated that the degree of competition in this industry will increase soon.
A list of the prominent players operating in the global market for viral vector production includes:
- FUJIFILM Diosynth Biotechnologies
- Thermo Fisher Scientific
- Cobra Biologics
- BioNTech IMFS GmbH
- Wuxi Biologics
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Based on type, the global viral vector production market is segmented into adenoviral vectors, adeno-associated viral vectors, lentiviral vectors, retroviral vectors, and others.
Based on disease, the global viral vector production market is cancer, genetic disorders, infectious diseases, and others.
The cancer segment will likely dominate the market during the forecast period, with a 35% revenue.
Based on application, the global viral vector production market is segmented into gene therapy and vaccinology.
North America is expected to rise and dominate the global market revenue share during the forecast period. Numerous businesses in the area have been developing their facilities and making large financial investments.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- GLOBAL VIRAL VECTOR PRODUCTION MARKET – ANALYSIS & FORECAST, BY TYPE
- Adenoviral Vectors
- Adeno-associated Viral Vectors
- Lentiviral Vectors
- Retroviral Vectors
- Other Types
- GLOBAL VIRAL VECTOR PRODUCTION MARKET – ANALYSIS & FORECAST, BY DISEASE
- Genetic Disorders
- Infectious Diseases
- Other Diseases
- GLOBAL VIRAL VECTOR PRODUCTION MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Gene Therapy
VIRAL VECTOR PRODUCTION MARKET TOC
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