Insights on the Worldwide Viral Vector and Plasmid Manufacturing Industry to 2030 – Analysis and Forecast – ResearchAndMarkets.com – Business Wire

DUBLIN--(BUSINESS WIRE)--The "Global Viral Vector and Plasmid Manufacturing Market: Focus on Vector Type, Application, Disease, 5 Region's Data, 15 Countries' Data, Patent Landscape and Competitive Insights - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global viral vector and plasmid manufacturing market was valued at $1.16 billion in 2019 and is expected to be $5.86 billion in 2030.

The viral vector and plasmid manufacturing market is expected to grow at a lower double-digit compound annual growth rate in the forecast period 2020-2030. The growing prominence of vector-based gene therapy products and high funding activities in research for the development of novel therapies, coupled with an increasing prevalence of diseases, such as cancer, genetic diseases, and infectious diseases, is prominently driving the growth of the global viral vector and plasmid manufacturing market.

The rising prevalence of diseases has led to an increasing demand for the development of advanced therapies and drugs to meet the needs of the growing patient population. The advent of cell and gene therapy has offered the high potential to treat diseases that are otherwise incurable by conventional treatment modalities. Both therapies encompass the use of vector, as gene delivery vehicles, for the introduction of a therapeutic gene into the target cell in order to provide a cure or remedy to disease. Extensive progress made in gene and cell therapy research since the early 1970s and 1980s has, therefore, accelerated the adoption rate of plasmids and viral vectors for their use in these modern therapies.

Progress made in the field of vaccinology, involving the use of vectors, has further intensified the demand for these vectors. A large number of preclinical and clinical studies evaluating the potential of vectors in these advanced therapies have further displayed promising results. This, in turn, has attracted the attention of investors, making viral vector and plasmid manufacturing market an active area of investment as well as encouraging favorable funding activities from both the private and public sectors.

Currently, the global viral vector and plasmid manufacturing market is witnessing the entry of several contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs) that are striving hard to sustain the competition with the main goal to increase the production of vectors that would be both cost-effective and of superior quality. The market is currently dominated by juggernauts, such as Lonza, Thermo Fisher Scientific Inc, Merck KGaA, GE Healthcare, Sartorius AG, and other small-medium enterprises, which offer a wide range of vector manufacturing products and services to the market.

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For more information about this report visit https://www.researchandmarkets.com/r/qy82g1

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Insights on the Worldwide Viral Vector and Plasmid Manufacturing Industry to 2030 - Analysis and Forecast - ResearchAndMarkets.com - Business Wire