Insights on the Viral Vector & Plasmid DNA Manufacturing Global Market to 2027 – by Product, Application and Geography – ResearchAndMarkets.com -…

The "Viral Vector & Plasmid DNA Manufacturing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application, and Geography" report has been added to ResearchAndMarkets.com's offering.

The global viral vector & plasmid DNA manufacturing market is expected to reach US$ US$ 2, 247.7 million by 2027 from US$ 459.4 million in 2019. The market is estimated to grow with a CAGR of 22.1% from 2020 to 2027.

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.

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Companies Mentioned

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200720005364/en/

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Insights on the Viral Vector & Plasmid DNA Manufacturing Global Market to 2027 - by Product, Application and Geography - ResearchAndMarkets.com -...