The Global Viral Vector Market size was valued at USD 451.0 Mn by 2020 and is expected to reach USD 1,564.4 Mn by 2027, with a growing CAGR of 20% during the forecast period.
Viral Vector Market Definition
Viral vector is a tool which is used by molecular biologists to deliver important instructions or genetic material to the targeted cells. Viral vectors have specialized molecular mechanisms that transport genetic material inside the cells they infect. Viral vectors are highly used in gene therapy and vaccine development, as it has high specific delivery of genes to target cells, increase cellular immunity and have high-efficiency gene transduction.
Viral Vector Market Dynamics
The driving factors influencing the global viral vector market include growing advances in genetic technology and rising incidences of chronic diseases such as genetic disorders such as down syndrome, Huntington’s syndrome, and cystic syndrome. Moreover, increase funding in research and development activities in genetic therapy is expected to boost the growth of viral vector industry. In addition to this, growing investments into biopharmaceutical productions and rise in government spending on research leverage the growth of viral vector industry.
Increasing healthcare spending and adoption of gene therapy in the treatment is expected to thrive the demand for viral vector industry during the forecast period. Gendicine is the first gene therapy product approved for clinical use in humans in 2003. Gendicine is manufactured by SiBiono GeneTech which was indicated for head and neck squamous cell carcinoma. Such gene therapy product approvals create opportunities for key market players and boost the growth of viral vector industry.
Global Viral Vector Market Segmentation:
Based on type, adeno-associated viral vectors segment accounted for maximum market share in 2020 due to increase its application in treatment of genetic diseases
Based on type, viral vector market is segmented into adenoviral vectors, lentiviral vectors, retroviral vectors and adeno-associated viral vectors. Adeno-associated viral vector is expected to hold the largest market share during forecast period due to its advances in targeting wide range of cells and tissue for gene therapy. The major advantage of AAV (Adeno-Associated Virus) is its long-term expression for transgenes. This offers benefits for the scientists, which can be used as tool in gene therapy. This leverages the demand for adeno-associated viral vector in genetics.
For instance, on February 2021, Biotech Entrepreneur George Chruch launched the latest gene therapy start-up to design safer viral vector which is AAVs immune surveillance obtained by inhibiting the activation of DNA-sensing protein called Toll-like receptor-9 (TLR9). This invention is expected to reduce inflammation and T-cell responses by improving gene expression. Such ongoing inventions on adeno-associated viral vector is expected to boost the growth of viral vector industry.
Based on disease, cancer segment is expected to dominate the market during forecast period owing to rise in prevalence of cancer disease
Based on disease, viral vector market is broadly segmented into genetic disorders, infectious diseases, and cancer. Cancer disease is anticipated to witness fastest growth with highest CAGR during forecast period due to ongoing research activities on cancer. Moreover, increase in number of cancer patients, growing application of viral vector in cancer treatments and rising demand for target specific therapy are expected to boost the growth of market.
According to National Clinical Trial Registry-2021, more than 95 ongoing interventional clinical trials related to the gene therapy for distinct phases of cancer. The upsurge adoption of modern healthcare facilities and therapies is expected to uplift the growth of viral vector industry.
Based on applications, gene therapy held the largest market share in 2020 and is expected to increase more during forecast period due to growing research activities in genetics
Based on applications, viral vector market is broadly segmented into basic research, vaccinology, and gene therapy. Gene therapy accounted for highest market share in 2020 due its promising therapy effect in treating various diseases such as cancer, diabetes, AIDS, heart diseases and cystic fibrosis. Moreover, ongoing research into viral vector gene therapies and growing product approvals for viral vector is expected to thrive the growth of market.
For instance, in 2020, VBL Therapeutics developed VB-111 for targeted anti-cancer gene therapy agent. Moreover, VB-111 is currently being evaluated in phase 3 clinical trial for the treatment of platinum-resistant ovarian cancer. Such inventions leverage the growth of market.
Based on geographical region, North America dominated the market in 2020 owing to high adoption of gene therapy
Based on region, North America is expected to dominate the market during forecast period owing to rise in genetic disorders and increase in genomic–based research activities. According to the survey, the US undertook around 67% of gene therapy clinical trials, however, other countries such as UK, Germany, and Switzerland, China, & Japan contribute 10%, 4% and 3% respectively. Growing research and inventions in viral vector therapy is expected to boost the growth of viral vector industry.
Company Profiles and Competitive Intelligence
The key players operating in the viral vector market are:
The report also provides an in-depth analysis of viral vector market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Viral Vector Market Analysis
Covid-19 has positively impacted the growth of viral vector industry. Increase in applications of viral vectors in development of vaccine has boosted the growth of industry in the recent past. Development of covid-19 vaccine has benefited people by providing protection against covid-19 infection across the globe.
Pharmaceutical and biopharmaceutical companies focused on the research and development of viral vector-based vaccine to meet the rising demand of the globe. Johnson & Johnson, Janssen developed a viral vector vaccine to treat covid-19 infected patients which was authorized for emergency use in the US. Such upsurge in the development of viral vector vaccines for covid-19 infection is expected to uplift the growth of viral vector market during the forecast period.
The report also provides an in-depth analysis of key trends in the viral vector market
The report also provides an in-depth analysis of recent news developments and investments
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