PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174534
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174534
Adeno-Associated Viral Vector Market size was valued at USD 320.7 Million in 2021, expanding at a CAGR of 15.2% from 2022 to 2028.
The most effective method for delivering genes to cure a range of human disorders is through adeno-associated virus (AAV) vectors. Single-stranded DNA parvoviruses called adeno-associated viral (AAV) vectors are replication-defective and need a helper ad to replicate.
The adeno-associated viral vectors have witnessed high demand for medical treatment in the past few years which, in turn, is expected to boost the market growth. The adeno-associated viral vectors have attracted a lot of interest in the medical world because of their distinctive biology, straightforward structure, and lack of disease connection. In reality, a number of adeno-associated viral vector-based medicines have been created for the treatment of numerous diseases, such as Duchenne muscular dystrophy, cystic fibrosis, and retinitis pigmentosa. As a result, the market has benefited financially from the significant increase in demand for these vectors. The increase in the incidence of cancer and modern healthcare facilities across the globe are acting as key drivers for the growth of the market.
Furthermore, the potential for new product discoveries is growing due to the rising research and development efforts for the creation of viral vector vaccines or treatments. For instance, in September 2021, researchers from the University of Oxford and the Ludwig Institute for Cancer Research will develop a vaccine to cure cancer, building on the success of the Oxford-AstraZeneca vaccine against SARS-CoV-2. When used in conjunction with immunotherapy, a viral vector cancer vaccine decreases tumor size and raises survival rates in mice models by effectively inducing anti-tumor immune responses. Numerous viral vectors have been developed for use in cancer treatment and prevention. Suicide gene therapy, oncolytic virotherapy, anti-angiogenesis, and therapeutic gene vaccines are just a few of the gene therapy treatments that have been developed to treat a variety of tumors. Additionally, a lot of industry participants have developed fresh medical tools and tests for COVID-19 testing amidst the COVID-19 pandemic.
The Global Adeno-Associated Viral Vector Market is segmented on the basis of Therapy, Gene Delivery Method, Application, and Region.
The market is split into three categories based on Therapy: gene augmentation, immunotherapy, and others. The gene augmentation segment dominates the market. Growing demand for gene detection of disease is mainly contributing to segment growth.
The market is segmented into two categories based on Gene Delivery Method: Ex vivo, and In vivo. The Ex vivo segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for clinical and diagnostics needs.
The market is segmented into three categories based on Application: gene therapy, cell therapy, and vaccines. The gene therapy segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the need for genetic disorders.
The worldwide market for adeno-associated viral vectors is moderately fragmented and comprised of large and small-sized market players with a few large ones dominating the global market share. The companies in the market emphasize adopting aggressive strategies to reach out large consumer base. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new Therapy launches, partnerships, distribution network development, R&D spending, and mergers and acquisitions.
For instance, in May 2022, Ultragenyx acquires global rights to AAV Gene Therapy ABO-102 for Sanfilippo syndrome Type A (MPS IIIA) from Abeona Therapeutics.
The scope of this report covers the market by its major segments, which include as follows: