Dublin, Aug. 17, 2020 (GLOBE NEWSWIRE) -- The "Global Viral Vectors & Plasmid DNA Market 2020-2030: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.

The global viral vectors & plasmid DNA market is expected to grow from $0.46 billion in 2019 to $0.60 billion in 2020, at a compound annual growth rate (CAGR) of 31.3%.

The growth is mainly due to the outbreak of COVID-19 and requires targeted delivery of the drug to treat affected patients. The number of cases has been increasing resulting in a surge in demand for viral vectors & plasmid DNA. The market is expected to reach $1.05 billion in 2023 at a CAGR of 20.4%.

The rise in the global incidence of cancer is driving the viral vector & plasmid DNA market. According to Cancer Research UK, in 2018, around 17 million new cases of cancer were recorded with deaths of around 9.6 million, and the estimated cancer incidence rate is 62% between 2018-2040 worldwide. The rise in the global incidence of cancer has boosted the demand for the viral vectors and plasmid DNA market.

The unaffordable cost of gene therapies is a major challenge in the viral vectors & plasmid DNA market. The prices of gene therapies range between $0.2 million to $2.1 million. For instance, Gilead company's Yescarta is a gene therapy that costs around $0.3 million and Bluebird Bio's Letiglobin is another gene therapy costing around $2.1 million. The high price is due to various factors like government regulations, production costs, and so on. Therefore, the unaffordable cost of gene therapies is limiting the viral vector & plasmid DNA market growth.

In January 2020, Cognate Bioservices Inc, a US-based company skilled in cell and cell-mediated gene therapy products, acquired Cobra Biologics, specialized in providing manufacturing services for plasmid DNA and viral vector, for an undisclosed amount. The acquisition is expected to create a platform for the life cycle management of cell and gene therapy products. Cobra biologics is well established in the development and manufacture of a variety of viral vectors and DNA. The combined Cognate and Cobra expertise is expected to push both the businesses to a better position to respond to current and future market demand.

North America was the largest region in the viral vectors and plasmid DNA market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

Major players in the viral vectors & plasmid DNA market are FUJIFILM Diosynth Biotechnologies, FinVector Vision Therapies, Lonza, Cobra Biologics and Pharmaceutical Services, Brammer Bio, Cell and Gene Therapy Catapult, VGXI, and MassBiologics.

Report Scope

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider viral vectors & plasmid dna market, and compares it with other markets.

Key Topics Covered

1. Executive Summary

2. Viral Vectors & Plasmid DNA Market Characteristics

3. Viral Vectors & Plasmid DNA Market Size and Growth 3.1. Global Viral Vectors & Plasmid DNA Historic Market, 2015-2019, $ Billion 3.1.1. Drivers of the Market 3.1.2. Restraints on the Market 3.2. Global Viral Vectors & Plasmid DNA Forecast Market, 2019-2023F, 2025F, 2030F, $ Billion 3.2.1. Drivers of the Market 3.2.2. Restraints on the Market

4. Viral Vectors & Plasmid DNA Market Segmentation 4.1. Global Viral Vectors & Plasmid DNA Market, Segmentation by Product, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.2. Global Viral Vectors & Plasmid DNA Market, Segmentation by Applications, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5. Viral Vectors & Plasmid DNA Market Regional and Country Analysis 5.1. Global Viral Vectors & Plasmid DNA Market, Split by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion 5.2. Global Viral Vectors & Plasmid DNA Market, Split by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/25hnfw

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Originally posted here:
Viral Vectors and Plasmid DNA Marketplace 2020-2030: Breakdown of Shares for Gene & Cancer Therapies, Viral Infections, Immunotherapy, Formulation...

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