The global viral vectors and plasmid DNA manufacturing market is segmented based on product, application, and geography

Portland, OR -- (SBWire) -- 11/28/2017 --According to a new report published by Allied Market Research, titled, "Viral Vector and Plasmid DNA Manufacturing Market by Product and Application - Global Opportunity Analysis and Industry Forecast, 2017-2023,"the global viral vector and plasmid DNA manufacturing market was valued at $261 million in 2016, and is projected to reach $1,090 million by 2023, growing at a CAGR of 22.6% from 2017 to 2023.

Gene therapy comprises tools such as viral vectors and plasmid DNA, which have evolved as a favorable treatment option for various diseases (especially those that currently have no cure) such as viral infections, cancer, and inherited disorders. Gene therapy and genetically modified therapy involve the use of a therapeutic DNA (the gene of interest) in cells.

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The major factors that drive the global viral vectors and plasmid DNA manufacturing market include rise in the number of candidates of gene therapy combined with their swift development through the numerous phases of clinical progression, ability of vectors to express therapeutic genes efficiently, and nonpathogenic nature of vectors. However, possible insertional mutagenesis and high cost of gene therapies impede the market growth. Technological advancements to alleviate challenges caused by traditional methods of vector production provide lucrative opportunities for the manufacturers in this industry.

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The cancer application generated the highest revenue of $162 million in 2016, and is anticipated to continue this trend in the future. The requirement for quality drugs and versatile therapies for treatment are expected to boost the growth of this segment. Inherited disorders application is projected to grow at the highest CAGR of 25.1% from 2017 to 2023.

Viral Vector and Plasmid DNA Manufacturing Market Key Segments:

By Product

-Plasmid DNA
-Viral Vectors
-Non-viral Vectors

By Application

-Cancer
-Inherited Disorders
-Viral Infections
-Other