SEATTLE, March 26, 2020 /PRNewswire/ -- According to Coherent Market Insights, global viral vector and plasmid DNA testing services market was valued at US$ 76.4 million in 2018 and is expected to exhibit a CAGR of 25.0% over the forecast period (2019-2027).
Key Trends and Analysis of the Global Viral Vector and Plasmid DNA Testing Services Market:
Key trends in the market include rising acquisitions in the global viral vector and plasmid DNA testing services market by players, which is expected to propel the market growth over the forecast period. For instance, in 2017, Eurofins acquired Villapharma Research SL in Spain to expand its portfolio of services into comprehensive offering and further strengthen its service proposition for the pharma and biotech industries. Moreover, various mergers, partnerships, and collaborations by key players are expected to propel the market growth.
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For instance, in September 2018, Charles River Laboratories, Inc. and PathoQuest announced the expansion of partnership, in order to offer next-generation sequencing (NGS) services to biopharmaceutical companies Moreover, in September 2018, Charles River Laboratories, Inc. and PathoQuest expanded their partnership, in order to offer next-generation sequencing (NGS) services to biopharmaceutical companies.
However, high cost of testing services such as safety, potency and others are expected to restrain the market growth over the forecast period. For instance, according to VIROVEK, a company offering quality control assays for the Adeno-associated virus (AAV) products costs US$ 2,500 to perform multiplicity of infection (MOI) optimization for the first sample and additional sample costs US $ 2,500/per additional sample.
Key Market Takeaways:
- The global viral vector and plasmid DNA testing services market is expected to exhibit a CAGR of 25.0% over the forecast period (2019-2027) due to favorable regulatory scenario for better gene therapies solution by the government authorities. For instance, in January 2020, the U.S. Food and Drug Administration (FDA) issued 6 new guidelines for gene therapy on manufacturing and clinical development of gene therapy products to avoid the similar characteristics of viral vector and plasmid DNA products.
- Key players in the market are focused on partnerships for the development of drugs innovated with the viral vector or plasmid DNA, which is expected to propel the market growth over the forecast period. For instance, in August 2017, Takara Bio Inc. entered into a partnership with Osaka University Hospital for the project of cancer genome medicine. The Osaka University Hospital lab was established to perform cancer genetic testing services.
Key players operating in the global viral vector and plasmid DNA testing services market include—
Charles River Laboratories, Inc., WuXi AppTec Co., Ltd., Cobra Biologics and Pharmaceutical Services, Merck KGaA, Lonza, Eurofins Scientific, FinVector Vision Therapies, Advanced Bioscience Laboratories, Inc., Takara Bio Inc., ViruSure GmbH, and Genezen Laboratories
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- Global viral vector and plasmid DNA testing services market, by testing services:
- Global viral vector and plasmid DNA testing services market, By end user:
- Global viral vector and plasmid DNA testing services market, By Region:
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Mr. Raj Shah
Coherent Market Insights
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SOURCE Coherent Market Insights