Viral Vector Vaccines Market to Grow at 3.9% CAGR by 2033

Market Overview:

The global viral vector vaccines market was valued at US$ 738.4 million in 2022 and is projected to expand at a CAGR of 3.9% over the forecast period (2023 to 2033), as per this latest market study by Persistence Market Research. Demand for viral vector vaccines is set to reach US$ 1.23 billion by the end of 2033.

Development of gene therapy has paved the way for the use of viral vectors in vaccine development. This has led to the expansion of viral vector technology beyond traditional vaccine development. Advancements in technology have allowed for the creation of more efficient and safer viral vector vaccines. Use of synthetic biology and CRISPR/Cas9 has allowed for more targeted and precise gene editing. Use of viral vectors in gene therapy has led to the expansion of viral vector technology beyond traditional vaccine development.

The success of gene therapies for genetic disorders has demonstrated the potential of viral vectors to target specific cells or tissues. Viral vector vaccines, which use weakened or modified viruses to deliver genetic material into cells to stimulate an immune response, have shown promise in treating a range of diseases, including cancer, HIV/AIDS, and other infectious diseases.

Other than this, an increase in government and private funding for the development of viral vector vaccines has encouraged pharmaceutical and biotech companies to invest in the development of these vaccines. Furthermore, the increase in government and private funding for research and development of gene therapy and viral vector vaccines has encouraged pharmaceutical and biotech companies to invest in the development of these therapies. All these factors will boost the global demand for this market over the forecast period.

Market growth Factors:

The viral vector vaccines market has witnessed significant growth in recent years, driven by several key factors:

Viral vector vaccines have showcased remarkable efficacy and safety profiles in clinical trials, instilling confidence among healthcare professionals and the public alike, thereby driving demand for these vaccines. The COVID-19 pandemic emphasized the critical need for swift vaccine development and distribution, wherein viral vector platforms played a pivotal role, accelerating investment and interest in this technology for future pandemic preparedness. Notably, the versatility of viral vectors in carrying a wide array of antigens renders them invaluable for vaccine development across various diseases, including infectious diseases, cancers, and genetic disorders. Moreover, their ability to elicit robust and enduring immune responses makes them particularly suitable for diseases requiring long-term protection, such as HIV and malaria.

In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at -https://www.persistencemarketresearch.com/market-research/viral-vector-vaccines-market.asp

Continual advancements in viral vector design, manufacturing, and delivery techniques have significantly enhanced vaccine production efficiency and scalability, reducing both timelines and costs. Noteworthy global health initiatives by organizations like the WHO and Gavi, alongside governmental investments, underscore the collective commitment to addressing global health challenges and ensuring equitable vaccine access. Biotechnology investments have surged, fueling viral vector research and development, thereby expediting vaccine programs. Collaborations among pharmaceutical companies, research institutions, and governments have facilitated resource pooling, expertise exchange, and funding support, accelerating viral vector vaccine projects. Regulatory agencies like the FDA and EMA have streamlined pathways for viral vector vaccine development and approval, expediting market entry. Increased public awareness and acceptance, especially following successful COVID-19 vaccination campaigns, have positively impacted vaccination rates for various diseases. Furthermore, the continuous emergence of new infectious diseases and variants underscores the necessity for rapid vaccine platforms like viral vectors to counter evolving threats. Intense market competition has spurred innovation and investment, resulting in a diverse pipeline of viral vector vaccine candidates. Sustained global immunization efforts aimed at achieving universal coverage and combating preventable diseases further contribute to the enduring demand for viral vector vaccines.

• The global viral vector vaccines market is predicted to reach a valuation of US$ 1.23 billion by the end of 2033.
• The adults segment held a market share of 64.5% in 2022.
• By distribution channel, hospitals led with a market share of 67.5% in 2022.
• The Middle East and Africa dominated the global market with North Africa contributing US$ 205.6 million in revenue in 2022.

• North America accounted for 28.7% market share in 2022.

"Advancements in biotechnology & genetic engineering and increased R&D activities are expected to boost the demand for viral vector vaccines over the forecast period," says an analyst at Persistence Market Research.

Market Competition

Leading manufacturers of viral vector vaccines are focusing on developing partnerships and collaborations with other companies as well as government institutes to expand their R&D activities related to various vaccines. Apart from this, they also involve themselves in expanding manufacturing capacity and diversifying product portfolios.

• In January 2021, Merck and UNICEF inked a contract to create the Ebola vaccine stockpile with ERVEBO. The ERVEBO vaccination is a significant milestone in the battle against Ebola, resulting from groundbreaking innovation and worldwide collaboration. The vaccination is recommended for individuals aged 18 and up to prevent illness caused by the Zaire ebolavirus.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the viral vector vaccines market in its latest study, presenting a historical demand assessment for 2017 to 2022 and projections for 2023 to 2033.

The research study is based on patient (pediatric and adults) and distribution channel (hospitals and government institutes), across four regions of the world (North America, Europe, East Asia, and the Middle East and Africa [MEA]).

Market Segmentation:

Patient:

• Pediatric
• Adults

Distribution Channel:

• Hospitals
• Government Institutes

Region:

• North America
• Europe
• East Asia
• Middle East & Africa

About Persistence Market Research:

Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on "micros" by Persistence Market Research helps companies overcome their "macro" business challenges.

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Contact

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COMTEX_448479610/2840/2024-02-28T08:04:19