Increase in incidence of genetic disorders have created burgeoning need for customized medications, which is likely to propel the gene vector market growth
Wilmington, Delaware, United States, Jan. 24, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global gene vector market was valued at US$ 0.9911 Bn in 2021 and is estimated to expand at a CAGR of 12.6% from 2022 to 2031, as per TMR research. As per the gene vector market report by TMR, increase in investment in gene therapy research & development activities and rise in demand for gene treatments are the major factors likely to boost the market.
DNA molecules, also termed gene vectors, transmit genetic material into cells. These infuse new genetic material into cells to examine gene function or transform cell traits. New gene editing technologies are expected to be introduced in the global market during the forecast period. Enhanced focus on gene therapy research and clinical applications across the globe is likely to accelerate global gene vector market development.
Development of novel types of gene vectors, such as viral and non-viral, and increase in government financing & support for scientific research are anticipated to bolster the global industry in the near future. The gene vector market limitations include high cost of gene treatment and challenges involved in obtaining regulatory approval for gene therapies.
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Gene Vector Market: Growth Drivers
- Gene therapy, which involves employing gene vectors to transfer functional genes into cells in order to treat or reduce the risk of infection, has become increasingly popular in the past few years. Rise in public awareness about the advantages of gene therapy is likely to increase the utilization of gene vectors considerably in the next few years.
- Genetic issues, malignancies, and infections are some of the ailments that gene therapy may be able to address. It can provide a one-time therapy for conditions such as cystic fibrosis and hemophilia that presently require lifelong monitoring. Additionally, the frequency of inherited diseases, including sickle cell anemia and cystic fibrosis, is rising, which is fueling market expansion. Speedy development of new and upgraded gene vector products is ultimately impacting the gene vector market statistics.
Key Findings of Gene Vector Market
- Based on type of vector, the global market has been segmented into lentivirus, adenovirus, adeno-associated virus (AAV), plasmid DNA, and others. The plasmid DNA segment is expected to dominate the global market in the next few years due to its distinct characteristics. Plasmid DNA can be extracted from bacteria using simple procedures, and can be altered using common molecular biology techniques, including restriction enzyme digestion and ligation. Furthermore, it could be used to clone and express a broad variety of genes in numerous species, including bacteria, yeast, and mammalian cells. Plasmid DNA vectors are commonly utilized in gene therapy research. Hence, the segment is projected to dominate the market during the forecast period.
- Novel gene delivery technologies, such as polymeric nanoparticles and lipid nanoparticles, which have increased the effectiveness and security of gene vectors, have been developed. The development of novel vector types and breakthroughs in gene editing technologies such CRISPR/Cas9 are the two major factors driving the market. The production of new and improved manufacturing procedures for gene vectors has been made possible by the development of new manufacturing techniques and automation.
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Gene Vector Market: Regional Assessment
- North America is anticipated to account for significant market share from 2022 and 2031, according to the global gene vector market forecast. Improvements in research & development infrastructure in the U.S. and Canada is accelerating the gene vector market in North America. Subsequently, well-established biotech & pharmaceutical industries and the presence of several academic research institutions engaged in molecular biology & genetics in the region present significant opportunities in the market.
- Demand for gene therapy services and products in Asia Pacific is driven by rise in the prevalence of genetic disorders such as sickle cell anemia, thalassemia, and beta-thalassemia. Countries, such as India, China, and Japan, are making investing significantly in R&D of gene therapy-related projects. Hence, the market in Asia Pacific is expected to grow at a rapid pace during the forecast period.
Gene Vector Market: Competitive Analysis
Key players have been profiled based on parameters, including company profiles, financial synopsis, product offerings, marketing strategies, market analysis, and recent developments. The global market is estimated to grow at a rapid pace during the forecast period due to increase in mergers & acquisitions, strategic alliances, and new product launches.
Leading companies in the global market are
- CGT Catapult
- FUJIFILM Diosynth Biotechnologies
- Merck KGaA
- Spark Therapeutics, Inc.
- Oxford Biomedica
- uniQure N.V.
- Charles River Laboratories
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Gene Vector Market: Segmentation
- Vector Type
- Adeno-associated Virus (AAV)
- Plasmid DNA
- Gene Therapy
- Genetic Disorder
- Infectious Disease
- Scientific Research
- Others (pharmaceutical and biotechnology companies)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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