Viral Vector Market Size To Reach $7.35 Billion By 2030

Viral Vector Market Growth & Trends

The global viral vector market size is expected to reach USD 7.35 billion by 2030, registering a CAGR of 11.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Key markets driving factors include the increasing demand for gene therapy, advancements within the viral vector technology space, and growing investment favoring gene therapy and vaccine research and developments. In addition, initiatives are taken by the existing players to increase the capacity production for viral vectors which will supplement the upcoming demand. For instance, in August 2022, Thermo Fisher Scientific inaugurated a new 300,000-square-foot viral vector manufacturing facility in Massachusetts. By introducing the facility, now the company houses six viral clinical and commercial sites in the U.S. and Europe. 

Contract research and manufacturing organizations continue to fuel the viral vector industry through innovations and capacity expansion to support the preclinical and overall manufacturing activities. For instance, in 2022, Genezen, a contract development and manufacturing firm specializing in lentiviral and retroviral vector manufacturing completed the construction of its early-phase clinical manufacturing facility within Indiana. Moreover, the firm highlights that the following expansion comes under its master plan for a 75,000-square-foot lentiviral and retroviral process development and cGMP production unit. Furthermore, the favorable investment space for expansionary activities pertinent to viral vectors will continue to aid market growth. For example,  Vector BioMed, a Maryland-based biomanufacturing firm was launched in January 2023 to fill the growing gap for lentiviruses as a tool for genetic medicines. The firm raised $15 million in the first round primarily led by Viking Global Investors and Casdin Capital and will transform the industry by utilizing algorithm-optimized lentiviral vectors, allowing the clients and partners to quickly move from clinical trials to commercialization. 

Furthermore, the pandemic remitted a mixed impact on the market. Due to familiarity with viral vector technology in vaccines, biotechnology firms, and pharmaceutical giants were quick to respond to the social need for a COVID-19 vaccine, primarily to reduce the mortality risk of the disease. For instance, on February 2021, Janssen COVID-19 Vector viral-based vaccine by Johnson and Johnson received a EUA to prevent COVID-19 in individuals who are 18 years or older. However, the pandemic also resulted in various operational and fiscal troubles for pharmaceutical companies. Owing to various supply chain disruptions and a highly complex viral vector manufacturing line, the market faced challenges at the onset of the pandemic.

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Viral Vector Market Report Highlights

• By vector type, the adeno-associated virus (AAV) segment held the highest share of 48% in 2022. It is due to a high degree of safety and efficacy remitted by the AAV while maintaining specificity to target cells in the body

• Cell and gene therapy segment accounted for the dominant share of 65% in the application segment for the year 2022. The dominant share is attributed to the growing gene disorder and other forms of malignancies. Moreover, high regulatory support provides a strong impetus to the segment

• By end-user, pharmaceutical and biotechnology segment held a massive share of 53% in 2022 due to the easy and larger access to public and private funds while containing high operational efficiency for complex trials and manufacturing allowing the segment to hold a dominant share

• North America took a dominant share of 48.31% share in the year 2022. It was owing to strong support from investors, while the region also garners superior healthcare coverage platforms which further necessitates a higher disease-prone patient pool

Viral Vector Market Segmentation

Grand View Research has segmented the global viral vector market based on vector type, application, end-user, and region.

Viral Vector Type Outlook (Revenue, USD Million, 2018 - 2030)

• Adeno-associated Virus (AAV)

• Adenovirus

• Lentivirus

• Retrovirus

• Others

Viral Vector Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cell And Gene Therapy

• Vaccine

• Biopharmaceutical & Pharmaceutical Discovery

Viral Vector End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Academic & Research Institutes

• Pharmaceutical & Biotechnology Companies

• CROs & CMOs

Viral Vector Regional Outlook (Revenue, USD Million, 2018 - 2030) 

• North America

• U.S.

• Canada

• Europe

• UK

• Germany

• France

• Italy

• Spain

• Denmark

• Sweden

• Norway

• Asia Pacific

• Japan

• China

• India

• South Korea

• Australia

• Thailand

• Latin America

• Brazil

• Mexico

• Argentina

• Middle East & Africa

• South Africa

• Saudi Arabia

• UAE

• Kuwait

List of Key Players in the Viral Vector Market

• Oxford Biomedica

• Lonza

• Thermo Fisher Scientific Inc

• Batavia Biosciences B.V.

• Biogen

• Spark Therapeutics, Inc.

• Regenxbio Inc.

• uniQURE N.V.

• Asklepios BioPharmaceutical, Inc. (AskBio)

• Sanofi