Viral Vectors Market Reaches $712 Million as Gene Therapy and COVID-19 Vaccines Create Growth
The quest for a COVID-19 vaccine has spurred development within the viral vector vaccine segment.
The total viral vector market sported revenues of $712.2 million in 2021, according to research published in Viral Vectors Market for Cell Therapy Market: Analysis and Opportunities, a new report by leading medical market researcher Kalorama Information. Viral vectors are altered viruses that can safely transport therapeutic products into cells and growth is forecast for the market for the next several years.
Kalorama Information forecasts the viral vector market will continue to grow as usage increases and novel technologies enter the market. In 2026, the market is expected to exceed a billion dollars, reaching $1.66 billion ($1,655 million) with a compound annual growth rate (CAGR) of 18.4%.
Beyond the aforementioned usage increases and novel technologies, there are a variety of issues and trends currently influencing viral vector market development. Some of the more notable trends include:
- Gene therapy development
- COVID-19
- Cancer optics
- Infectious disease optics
- Transduction and transfection
- Competing methods
- Aging population
- Viral vector shortages
- Products in development
“Several events have created increasing opportunities for developers, manufacturers, and sellers of viral vectors.” – Kalorama Information
Notable among opportunities in the market is the booming gene therapy market through the recent approvals of gene therapies such as Kymriah, Yescarta, Luxturna, Strimvelis and Imlygic have increased research in the area of gene therapies and opened a new frontier
Additionally, the quest for a COVID-19 vaccine has spurred development within the viral vector vaccine segment. Viral vectors have been instrumental in providing new vaccines to treat various infectious diseases including COVID-19. COVID-19 vaccines use a harmless, modified version of a different virus as a vector to carry genetic instructions to cells, limiting the reproduction of the coronavirus. Currently, two inactivated vaccines against SARS-CoV-2 were approved by at least one country: Covaxin (Bharat Biotech) and BBIBP-CorV (Sinopharm). The other whole virus-based vaccines with an inactivated virus, such as Inactivated (Sinopharm), CoronaVac (Sinovac), Inactivated (Chinese Academy of Medical Sciences), are still in phase III of clinical trials. The sole live-attenuated COVI-VAC (Codagenix Inc) is in phase I. Other vaccines have used viral vectors as well to transmit genetic information to infection-causing genomes.
Major growth has also been influenced by collaborations and partnerships within the industry. Pharmaceutical and biotechnology companies have demonstrated interest in viral vector producing companies leading to a flurry of acquisitions.
Further, demand has increased exponentially leading to expansion of viral vector manufacturing facilities in all facets of the industry. Contract development and manufacturing organizations (CDMOs) and pharmaceutical companies alike have invested in building major manufacturing facilities in hopes of meeting the needs that the industry is likely to require in the future.
Find out more by purchasing Viral Vectors Market for Cell Therapy Market: Analysis and Opportunities at https://kaloramainformation.com/product/viral-vectors-market-for-cell-therapy-market-analysis-and-opportunities/.
