Plasmid DNA Manufacturing Market Size to Hit US$ 300 Mn by 2026
8 October 2019
LOS ANGELES, Oct. 08, 2019 (GLOBE NEWSWIRE) -- The global plasmid DNA manufacturing market is expected to grow at a CAGR of more than 20% from 2019 to 2026 and reach the market value of over US$ 300 Mn by 2026.
Rapid technological advancements in the healthcare sector, rising prevalence of chronic diseases and genetic disorders across the globe, and increasing R&D activities by major players on gene therapy are some major factors expected to drive the growth of global market. In addition, rising government expenditure on the healthcare sector, coupled with growing clinical trials for development of various vaccinations are among other factors that are expected to support the growth of global plasmid DNA manufacturing market to a certain extent.
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The adoption of gene therapy is expected to be limited by complications such as risk of mutagenesis, safety & efficacy issues and strict regulatory framework, which will impede the market growth. DNA damage caused by a chemical in a cell is an important first step in the process. Several mechanisms for repair of DNA have evolved in order to cure the damage caused by DNA, but each cannot repair, especially if the damage is caused at a high rate. The replication of damaged DNA increases the rate of polymerase errors, leading to gene mutations that can lead to altered protein synthesization. Oncogene mutations, a tumor-suppressor gene or a gene controlled by cells may give rise to a population of clonal cells with a clear propagating advantage. Many such events, occurring in the context of chronic exposure to chemical mutagens over a long time, can lead to human cancer.
Nevertheless, factors that are expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period include increasing healthcare spending and developing regulatory standards in developing countries. In addition, manufacturers’ approach towards expansion in developing countries, owing to availability of required healthcare infrastructure in order to conduct R&D activities is another factor expected to support the market growth.
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Gene therapy accounts for the largest share of global plasmid DNA manufacturing market. The main attribution is that gene therapy products are increasingly accepted in the treatment of rare disorders around the globe. Gene therapy is a promising therapeutic modality for the treatment of inherited as well as acquired genetic disorders. Gene medicines have emerged as a potentially safe and effective gene therapy method for the treatment of a wide variety of acquired and inherited disorders.
The market in North America is expected to contribute major revenue share in the global plasmid DNA manufacturing market. The market for plasmid DNA manufacturing in North America is driven by rapid technological advancements and R&D activities in the healthcare sector. In addition, presence of several biopharmaceutical manufacturers in the US coupled with a strong and effective regulatory structure for development of advanced therapies in the country is boosting the growth of this market in North America. Besides this, recent approval of gene therapies by US FDA is projected to augment the demand for plasmid DNA manufacturing in coming years.
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The market in Asia Pacific is expected to witness faster growth in the global plasmid DNA manufacturing market. This can be attributed to the increasing government expenditure on development of healthcare infrastructure in the region. In addition, the growing government initiatives and increased investments by private companies related to R&D activities are likely to fuel this regional market.
Europe is expected to witness substantial growth in the market for plasmid DNA manufacturing. Factors that are expected to drive the growth in European market are significant incentives offered through Orphan Medicinal Products Regulations (European Union) that has encouraged pharmaceutical and biotechnology companies to consider the development of rare disease medicines as a potentially profitable endeavor.
Some of the key players operating in the global plasmid DNA manufacturing market, profiled in the report include Aldevron, Cobra Biologics Limited, Delphi Genetics, VGXI, Inc., PlasmidFactory GmbH & Co. KG, LakePharma, Inc., Akron Biotech, Waisman Biomanufacturing, Richter-Helm BioLogics, Eurogentec, Kaneka Corporation, Nature Technology Corporation, and Cell and Gene Therapy Catapult.
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