Global Viral Vector Market is valued at approximately USD 3.10 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2023-2030. A viral vector is a type of tool commonly used in molecular biology and genetic engineering to introduce genetic material into cells. It is constructed using a modified virus that has been rendered harmless for human or animal use and retains the ability to infect cells and deliver its genetic cargo. The Viral Vector Market is expanding because of factors such as increasing demand for gene therapies and rising investments in research and development with immense funding support.
The demand for viral vectors is predicted to increase as genetic abnormalities and infectious diseases become more common. For instance, according to data from the Joint United Nations Programme on HIV/AIDS (UNAIDS), around 38.4 million people had HIV in 2021, and by the end of the year, 28.7 million of those individuals had received antiretroviral therapy. Thus, the market is expanding. Furthermore, the amount of gene therapy research has substantially expanded as a result of the broad acceptance of viral vector medicines, many of which are currently undergoing advanced stages of clinical testing. Retroviral, adenoviral, adeno-associated viral, and lentiviral-based vectors are significant contemporary research and clinical trial candidates. For instance, according to the National Centre for Biotechnology Information, 137 adeno-associated viral-based therapies were in various phases of clinical development. Furthermore, most clinical trials were in their initial stages; nevertheless. 7.7% of them had already advanced to phase III. Along with these, in year 2021, the UK government announced that USD 339 million were invested into the life sciences industry. The USD 78 million dedicated to expanding manufacturing services will support cell and gene therapies, medical devices, and commercial scale production investments by various companies. Thus, rising gene therapy clinical trial activities are fostering market growth. In addition, advancements in genome sequencing and an increased amount of research in this area of gene therapy are creating a lucrative growth opportunity for the market. However, complex manufacturing processes, regulatory challenges, and intellectual property issues stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Viral Vector Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players and the region’s increasing disease prevalence, and the rising number of clinical trial activities in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising disease prevalence, rising government funding for gene therapeutics development, an increase in the number of collaborations for product development, geographic expansion of key players, and active participation of government organizations in the market space.
Major market player included in this report are:
Thermo Fisher Scientific Inc
Batavia Biosciences B.V.
Spark Therapeutics, Inc.
Asklepios BioPharmaceutical, Inc. (AskBio)
Recent Developments in the Market:
Ø In January 2023, Forecyte Bio, a CDMO that deals with cell and gene therapies, built a new GMP facility to speed up the manufacture of viral vectors, cell therapies, and other goods. Additionally, the building would be about 17,000 square feet in size and include separate cleanrooms for each function.
Global Viral Vector Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Vector Type, Application, End User Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Vector Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:
By Vector Type:
Adeno-associated Virus (AAV)
Cell & Gene Therapy
Biopharmaceutical & Pharmaceutical Discovery
By End User:
Pharmaceutical & Biotechnology Companies
Academics & Research Institutes
CROs & CMOs
Middle East & Africa
Rest of Middle East & Africa