The global viral vector manufacturing market is projected to grow at a CAGR of 20.0%
NEW YORK, August 15, 2018 /PRNewswire/ -- The global viral vector manufacturing market is projected to grow at a CAGR of 20.0%.
The viral vector manufacturing market is expected to reach USD 815.8 million by 2023 from an estimated USD 327.8 million in 2018, at a CAGR of 20.0%. The growth of this market is expected to be driven by rising prevalence of target diseases and disorders, the availability of funding for gene therapy development, effectiveness of viral vectors in gene therapy delivery, and ongoing research into viral vector-based gene & cell therapies. On the other hand, the high cost of gene therapies and short shelf-life of viral vectors are likely to restrain the growth of this market to a certain extent.
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The genetic disorders segment is expected to grow at the highest rate during the forecast period
By disease, the viral vector manufacturing market is segmented into cancer, genetic disorders, infectious diseases, and other diseases. During the forecast period, the genetic disorders segment is expected to grow at the highest CAGR owing to the accelerated research activities on various genetic disorders such as hemophilia A and B, sickle cell anemia, and Huntington's disease.
The pharmaceutical and biopharmaceutical companies to hold the largest share of the market
Based on end user, the global viral vector manufacturing market is segmented into pharmaceutical and biopharmaceutical companies and research institutes.The pharmaceutical and biopharmaceutical companies segment is expected to hold the largest share of the market in 2018.
The successful launch of viral vector gene therapies and a robust pipeline of such therapies are the key factors contributing to the growth of the pharmaceutical and biopharmaceutical companies segment during the forecast period.
North America is expected to dominate the viral vector manufacturing market in 2018
In 2018, North America is expected to account for the largest share of 64.8% of the global viral vector manufacturing market. Factors such as a large number of regenerative medicine companies (including gene and cell therapy companies), increasing research activities, rising prevalence of target diseases, and availability of funding are supporting the growth of the viral vector manufacturing market in North America.
Break of primary participants was as mentioned below:
-- By Company Type - Tier 1-40%, Tier 2-30% and Tier 3-30%
-- By Designation - C-level-20%, Director Level-40%, Others-40%
-- By Region - North America-50%, Europe-20%, Asia Pacific-20%, RoW-10%
The major players in the global viral vector manufacturing market are Lonza (Switzerland), Merck (Germany), Oxford BioMedica (UK), CGT Catapult (UK), Cobra Biologics (UK), uniQure (Netherlands), FUJIFILM Diosynth Biotechnologies (US), and Spark Therapeutics (US).
Research Coverage:
The report analyzes the viral vector manufacturing market and aims at estimating the market size and future growth potential of this market based on various aspects such as type, disease, application, end user, and region. The report also includes the competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help established firms as well as new entrants/smaller firms gauge the pulse of the market, which in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on product portfolios offered by key players in the global viral vector manufacturing market. The report analyzes the global viral vector manufacturing market by type, disease, application, end user, and region
-- Product Innovation: Detailed insights on upcoming trends and product launches in the global viral vector manufacturing market
-- Market Development: Comprehensive information about the lucrative emerging markets by type, disease, application, and end user
-- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the market
-- Competitive Assessment: In-depth assessment of market shares and growth strategies of leading players in the global market
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