Adeno Associated Virus Vector Manufacturing Market Size, Share & Trends Analysis Report By Scale Of Operations, By Method, By Application, By Therapeutic Area, By Region And Segment Forecasts, 2023 - 2030
Adeno Associated Virus Vector Manufacturing Market Size, Share & Trends Analysis Report By Scale Of Operations (Clinical, Commercial), By Method, By Application, By Therapeutic Area, By Region, And Segment Forecasts, 2023 - 2030.
New York, March 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Adeno Associated Virus Vector Manufacturing Market Size, Share & Trends Analysis Report By Scale Of Operations, By Method, By Application, By Therapeutic Area, By Region And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06428308/?utm_source=GNW
Adeno Associated Virus Vector Manufacturing Market Growth & Trends
The global adeno associated virus vector manufacturing market size is expected to reach USD 3.95 billion by 2030, registering a CAGR of 22.5% over the forecast period. This growth is attributed to the increasing prevalence of chronic diseases like cancers, cystic fibrosis, Duchenne muscular dystrophy, retinitis pigmentosa, and many more. AAV vector plays a vital role in the treatment of these diseases. AAV vectors also have a wide range of applications in gene therapy delivery. Companies are engaged in collaborations, mergers, and partnerships for innovative product launches with advancements in R&D.
For instance, in December 2021, Astellas and Dyno Therapeutics entered into a strategic collaboration to develop an NGS-based AAV vector for gene therapy by using Dyno’s CapsidMap platform for cardiac and skeletal muscle.Such initiatives are expected to expand their market presence in the development and production of antibodies, which is likely to support the growth of the market.
The COVID-19 pandemic had a positive impact on the industry.As adeno associated virus has vast applications in vaccine manufacturing, various companies were involved in the race to manufacture the vaccine to treat COVID-19.
This resulted in a sudden spur in the demand for manufacturing these vectors.
For instance, in September 2021, CEVEC and UCB entered into a strategic agreement for the use of ELEVECTA AAV vector manufacturing technology for R&D and gene therapy applications.As gene therapy involves alterations or modifications in the set of genes, it has raised many ethical issues.
As a result, the U.S. government restricted the usage of federal funds for research on germline gene therapy in people. Gene therapy can help save future generations of a family from acquiring a particular genetic disorder. However, it is anticipated to affect the fetus’s development significantly. The high demand for vaccines, gene therapeutics, CGMP drugs, and products to treat & cure acute diseases and the demand for improving patient care also propel the industry growth. Thus, global stakeholders are investing significantly in expanding their production capacities to fulfill the growing demands.
Adeno Associated Virus Vector Manufacturing Market Report Highlights
• By the scale of operations, the commercial segment dominated the industry in 2022. Owing to the increasing R&D investment by companies and demand from vaccine manufacturers
• The neurological diseases therapeutic areasegment captured the largest share in 2022 due to the high prevalence of chronic neurodegenerative diseases and the effectiveness of the adeno associated virus vector-based therapies to treat these disease
• Vaccine is considered a key application segment, which held the largest revenue share in 2022 and is likely to remain dominant throughout the forecast period due to the rising demand for vaccine therapeutics and increasing investments & funds for the production of vaccines
• North America has established a strong regional position. The increasing incidence of cancer and high R&D expenditure is encouraging companies in the region to undertake product development, which drives the regional market
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