The viral vector manufacturing market is projected to reach USD 815.8 million by 2023 from USD 327.8 million in 2018, at a CAGR of 20.0%. Rising prevalence of target diseases, availability of funding for gene therapy development, effectiveness of viral vectors in gene therapy delivery, and ongoing research into viral vector-based gene therapies are the major drivers of this market.
In this report, the market is segmented by type, disease, application, end user, and region.
By type, the viral vector manufacturing market is segmented into retroviral vectors, adenoviral vectors, adeno-associated viral vectors, and other viral vectors. The adeno-associated viral vectors are expected to grow at the highest rate during the forecast period. The growth of this segment can be mainly attributed to the applications of these vectors for many cell-based gene therapies for inherited disorders and neurodegenerative diseases.
By disease, the viral vector manufacturing market is segmented into cancer, genetic disorders, infectious diseases, and other diseases. The cancer segment is expected to account for the largest share of the viral vector manufacturing market in 2018. Its large share can be attributed to growing research on viral vector gene therapies for cancer.
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Based on application, the viral vector manufacturing market is segmented into gene therapy and vaccinology. The gene therapy segment is expected to hold the largest share
in 2018 and grow at the highest rate during the forecast period. The robust gene therapy pipeline, increasing investments and collaborations in the gene therapy industry, and launch of gene therapies for cancer and inherited disorders are responsible for the large share and fast growth of this segment.
Based on end user, the viral vector manufacturing market is segmented into pharmaceutical and biopharmaceutical companies and research institutes. In 2018, pharmaceutical and biopharmaceutical companies are expected to grow at the highest CAGR during the forecast period. 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.
Geographically, North America is estimated to account for the largest share of the viral vector manufacturing market, followed by Europe. The large share of North America in viral vector manufacturing market can be majorly attributed to the R&D activities of leading pharma and biopharma companies in the region. The US holds the largest share in the North American viral vector manufacturing market. Asia Pacific is expected to grow at the highest rate during the forecast period.
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