Global Viral Vector Manufacturing Market Expected to Grow At a CAGR of 18.0% between 2021-2028
2021 - 2028 Global Viral Vector Manufacturing Market
The Global Viral Vector Manufacturing Market is accounted for $566.51 million in 2021 and is expected to reach $1,804.59 million by 2028 growing at a CAGR of 18.0% during the forecast period. Viral vectors are manufactured for delivering genetic materials into the target cells in various genetic, vaccinology, and molecular biology applications. Also, viral vectors are exploited for discovering various therapeutic areas. Viral vectors are manufactured using viruses and animal or insect cell cultures. The research institutes segment is expected to have the highest CAGR during the forecast period, due to increasing involvement of the research community in gene and cell therapy research activities and increase in the introduction of advanced therapies along with the rising number of gene therapy-based R&D programs by companies, pharmaceutical, and biopharmaceutical companies. North America is projected to hold the largest market share owing to the high adoption rate of new therapies, high incidence rate of cancer, growing demand for targeted and personalized medicine, and favorable government initiatives. Asia Pacific is projected to have the highest CAGR due to the increasing research activities for the introduction of novel gene therapies in the untapped markets of this region.
Some of the key players profiled in the Viral Vector Manufacturing Market include Merck KGaA, Thermo Fisher Scientific Inc., Brammer Bio, Spark Therapeutics, Fujifilm Holdings Corporation, Lonza, Kaneka Eurogentec, Finvector Vision Therapies, Cobra Biologics, Uniqure, Oxford Biomedica, Massbiologics, Novasep, Regenxbio, and Shape Therapeutics.
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