Transparency Market Research (TMR) has published a new report titled, ‘Viral Vector & Plasmid DNA Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ According to the report, the global viral vector & plasmid DNA manufacturing market was valued at US$ 0.4 Bn in 2018 and is projected to expand at a CAGR of 23.3% from 2019 to 2027. Overview
Viral vector and plasmid DNA are tools to transfer genetic material into cells. Viral vectors are generally utilized as vectors for gene therapy. There are various types of vectors, such as lentivirus, adenovirus, adeno-associated virus (AAV), and others, which include herpes simplex virus and chimeric viral vectors. Plasmid DNA is also employed as a vector in gene therapy and vaccinology. Plasmid DNA is used as raw material in the production of various viral vectors. Technological advancements, increase in awareness about viral vector-based treatments, and rise in demand for vector-based products for research are the major factors anticipated to drive the global viral vector & plasmid DNA manufacturing market during the forecast period North America held major share of the global viral vector & plasmid DNA manufacturing market in 2018. Availability of the U.S. FDA (Food and Drug Administration) approved gene therapy products and rich product pipeline are the factors expected to augment the viral vector & plasmid DNA manufacturing market in the region during the forecast period. The viral vector & plasmid DNA manufacturing market in Asia Pacific is likely to expand at a high CAGR of 24.5% from 2019 to 2027, due to recent developments in regenerative medicines, rise in prevalence of chronic diseases, and increase in demand for gene therapies. Additionally, demand for viral vector & plasmid DNA is increasing in emerging markets such as India and China.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=30428 Rise in Prevalence of Cancer, Genetic Diseases, and Infectious Diseases to Propel Global Viral Vector & Plasmid DNA Manufacturing Market
Rise in prevalence of cancer and genetic diseases is projected to augment the global viral vector & plasmid DNA manufacturing market during the forecast period According to the Cancer Research UK, 17 million new cases of cancer were reported globally in 2018 and the four most common types of cancer were breast, lung, bowel, and prostate, which account for around 43% of all new cases According to the National Cancer Institute, cancer is among the leading causes of death across the world, and the number of new cases per year is anticipated to rise to 23.6 million by 2030.
Plasmid DNA Segment Dominated Global Viral Vector & Plasmid DNA Manufacturing Market
In terms of type, the global viral vector & plasmid DNA manufacturing market can be classified into lentivirus, adenovirus, adeno-associated virus (AAV), plasmid DNA, and others The plasmid DNA segment dominated the global viral vector & plasmid DNA manufacturing market in 2018 and the trend is expected to continue during the forecast period Increase in use of plasmid DNA as raw material in the manufacture of viral vectors is likely to drive the segment during the forecast period