SEATTLE, March 25, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global viral vector and plasmid DNA manufacturing market is estimated to be valued at US$ 427.2 million in 2019, and is expected to exhibit a CAGR of 22.8% over the forecast period (2019-2027).
Key Trends and Analysis of the Global Viral Vector and Plasmid DNA Manufacturing Market:
Key trends in the market include increasing incidences of cancer, rising number of product launches, and increasing collaboration and acquisition activities by key market players.
According to World Health Organization (WHO), in 2018, around 9.6 million cancer deaths occurred globally. Over the last decade, development of gene therapy for the treatment of the cancer has increased significantly. Gene therapy treatment for cancer include transfer of foreign genetic material in the targeted cancer cell in the host's body. Various types of viral vectors and plasmid DNA such as retrovirus and HGF plasmid are used in the development of gene therapy.
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Increasing product launches and approvals by regulatory authorities are expected to drive growth of the global viral vector and plasmid DNA manufacturing market over the forecast period. For instance, in December 2017, Spark Therapeutics received the U.S. FDA approval to launch the LUXTURNA in the U.S. market. It is the first FDA approved gene therapy for treatment for an inherited retinal disease (IRD) and the first adeno-associated virus (AAV) vector gene therapy approved in the U.S.
Furthermore, key players operating in the market are focused on adopting acquisition, agreement, and collaboration strategies, in order to expand their product offerings in markets. For instance, in December 2017, Merck KGaA entered into a commercial supply agreement with bluebird bio, Inc., a clinical-stage biopharmaceutical company. According to the agreement, Merck agreed to manufacture viral vectors for bluebird's gene therapy products targeting the rare genetic disorders.
Key Market Takeaways:
- The global viral vector and plasmid DNA manufacturing market is expected to exhibit a CAGR of 22.8% over the forecast period, owing to increasing number of candidates for gene therapy and increasing technological advancements in viral vector and plasmid DNA manufacturing. For instance in January 2016, ViroCyt launched ViroTag portfolio: ViroTag AAV2-3. This reagent in combination with the Virus Counter 3100 enables real-time quantification of Adeno-associated virus serotypes 2 and 3.
- North America is expected to hold largest share in the global market, owing to presence of key players in the region such as VGXI, Inc., Virovek, MassBiologics, and FUJIFILM Diosynth Biotechnologies U.S.A., Inc., and increasing number of candidates for gene therapy. For instance, in November 2018, VGXI Inc. announced opening of a new facility to expand its bio-manufacturing services, which includes space for flexible scale plasmid DNA manufacturing as well as purpose-built GMP production areas for RNA synthesis.
Key players operating in the global viral vector and plasmid DNA manufacturing market include —
Lonza Group AG, FinVector Vision Therapies, Cobra Biologics and Pharmaceutical Services, Sigma-Aldrich Co. LLC, VGXI, Inc., VIROVEK, SIRION Biotech GmbH, FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Sanofi, Cell and Gene Therapy Catapult, Brammer Bio, and MassBiologics.
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- Global Viral Vector and Plasmid DNA Manufacturing Market, By Product Type:
- Global Viral Vector and Plasmid DNA Manufacturing Market, By Therapeutic Application:
- Global Viral Vector and Plasmid DNA Manufacturing Market, By End Product:
- Global Viral Vector and Plasmid DNA Manufacturing Market, By Region:
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