According to FutureWise analysis the market for Viral Vector Production in 2023 is US$ 1.31 billion, and is expected to reach US$ 5.27 billion by 2031 at a CAGR of 19.00%.
Viral vectors are commonly used by molecular biologists to deliver genetic material to cells. In the process of transduction, viruses develop specialized molecular mechanisms for efficiently transferring their genomes into the cells they infect. A growing need for advanced clinical treatments and an emphasis on medical science's evolving field have driven the viral vector manufacturing market to grow significantly. The use of viral vectors in gene therapy can be used to treat diseases such as heart defects, metabolic diseases, cancer, and neurodegenerative disorders. Viral vectors, such as baculoviruses, herpes simplex viruses, and adenoviruses, are finding greater applications in vaccine research and drug development. Modifications should be made to the vectors so they can be handled safely (they shouldn't produce new viruses in the host) and have low toxicity (they shouldn't affect the host's physiology). Further, they should be stable (no genome rearrangement), and for manufacture, it is important that the viral vector is easily quantifiable and can be produced at a large scale. Market growth for viral vector production is primarily driven by the growing adoption of adenoviral vectors, lentiviral vectors, as well as retroviral vectors. Moreover, scientists are developing curative therapies with viral vectors as a result of the growing incidence of cancer, diabetes, hemophilia A, heart disease, and HIV, which is driving the market for viral vectors and plasmid DNA. Due to the approval of therapies, the initiation of late-stage clinical trials for the treatment of genetic disorders, and the need for vaccines to prevent infectious diseases, the use of viral gene transfer vectors has increased. Additionally, initiatives such as the launch of clinical trial base manufacturing platforms by ViroCell Biologics in response to the bottlenecks associated with the viral vector supply chain in the context of COVID suggest that viral vector academic and contract research organizations are embracing manufacturing and research practices. The market growth can be attributed to the growing number of gene therapy-based R D programs being conducted by companies as well as the increasing introduction of advanced therapies. One factor that may restrain the growth of this niche market is the transition of this industry to high manufacturing.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Viral Vector Production Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Viral Vector Production Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.