NEW YORK, July 16, 2020 /PRNewswire/ --

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Driving factors such as growing awareness of gene therapy, increasing prevalence of genetic disorders and infectious diseases across the world are expected to upsurge the market growth.Additionally, growth in the global healthcare market is likely to have a positive impact on the market in coming years.

However the high cost associated with gene therapy is the major factor hindering the market growth.

Gene therapies offer an effective way for the treatment of genetic diseases, the acceptance and awareness of gene therapy continues to grow, especially in developed regions.The increase in awareness of gene therapies leads to market entry of new and established players for manufacturing various gene therapy technologies.

For instance, according to a study published by Alliance for Regenerative Medicine in 2018, the number of gene therapy-related clinical trials witnessed growth of an estimated 18.0% compared to the previous year across the world. This growth in the number of clinical trials indicates rise in awareness and massive investments.

Established companies, healthcare organizations, and research institutes are focusing on spreading awareness related to gene therapies as they offer a modern way of disease treatment.For instance, in 2018, Alliance for Regenerative Medicine announced the launch of a new foundation to promote comprehensive understanding and acceptance of gene therapies.

This newly formed organization will work to grow public awareness and benefits of certain gene therapy-based aspects such as cell therapy, tissue-engineering, gene editing, and organ regeneration.

The global viral vector & plasmid DNA manufacturing market is segmented by product and application.Based on product, the viral vector & plasmid DNA manufacturing marketis segmented into viral vectors and non-viral vectors.

The viral vectors segment held the larger share of the market in 2019 andis anticipated to register the higher CAGR during the forecast period.Based on application, the viral vector & plasmid DNA manufacturing markethas been segmented into cancer, inherited disorders, viral infections, and others.

The cancersegment held the largest share of the market in 2019 and the same segment is estimated to register the highest CAGR in the market during the forecast period.

National Institutes of Health, World Health Organization (WHO), European Medical Association, Centers for Disease Control and Prevention, Canada Foundation of Innovation, Contract Research Organizations, and Dubai Health Authority are some of the essential secondary sources included in the report.

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