Major players in the bacterial and plasmid vectors market are Sigma-Aldrich Inc. , ATUM, QIAGEN, Promega Corporation, Thermo Fisher Scientific, Inc. , GenScript Biotech Corporation, Takara Bio Inc. , IBA GmbH, Bio-Rad Laboratories and New England Biolabs.
New York, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bacterial And Plasmid Vectors Global Market Report 2020-30: COVID-19 Growth and Change" - https://www.reportlinker.com/p05998719/?utm_source=GNW
The global bacterial and plasmid vectors market is expected to decline from $0.36 billion in 2019 to $0.34 billion in 2020 at a compound annual growth rate (CAGR) of -7.62%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $0.52 billion in 2023 at a CAGR of 15.48%.
The bacterial and plasmid vectors market consists of sales of bacterial and plasmid vectors and related services by entities (organizations, sole traders and partnerships) that develop bacterial and plasmid vectors for biotechnological applications. Bacterial vectors are DNA molecules that are the basic tool of genetic engineering and are used to introduce foreign genetic material into a host to replicate and amplify the foreign DNA sequences as a recombinant molecule. The vectors are used for introducing a definite gene into the target cell and command the cell’s mechanism for protein synthesis to produce the protein encoded by the gene. These are used for the production of protein in biotechnology applications.
North America was the largest region in the bacterial and plasmid vectors market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
In May 2018, Vectalys, a France-based company engaged in manufacturing and commercializing lentiviral vectors for gene delivery, and FlashCell, a company engineering non-integrating lentiviral delivered RNA therapeutics, announced their merger to create a new gene therapy company - Flash Therapeutics. Flash Therapeutics is expected to collaborate on the two complementary businesses of Vectalys and FlashCell and combine the emergence of cell and gene therapies as major new therapeutic modalities for the treatment of incurable diseases. Flash Therapeutics is a new gene and cell therapy company based in Occitanie, France engaged in developing gene and cell-based therapies by leveraging its bioproduction technologies and lentiviral platform.
The bacterial and plasmid vectors market covered in this report is segmented by host type into E.coli expression vectors; other bacterial expression vectors and by application into genetics; molecular biology; bioinformatics; others.
The high cost of gene therapy is expected to limit the growth of the bacterial and plasmid vectors market during the forecast period. The cost of gene therapy treatments approved by the Food and Drug Administration is between $0.3 million and $2.1 million. Moreover, the cost of Luxturna gene therapy for certain inherited retinal diseases (IRDs) is $0.4 million per eye and LentiGlobin, a gene therapy by Bluebird Bio designed to increase the levels of hemoglobin, costs around $2.1 million. Stringent government regulations, long approval processes, and high production costs are the major factors leading to the high cost of gene therapy. Thus, the high cost of gene therapy is expected to hinder the growth of the bacterial and plasmid vectors market in the near future.
The focus areas for many companies in the bacterial and plasmid vectors market has shifted to mergers and acquisitions to enhance production capabilities. Large prime manufactures are forming joint ventures or buying small or midsized companies to acquire new capabilities or to gain access to new markets. For instance, in May 2018, Vectalys, a France-based company engaged in manufacturing and commercializing lentiviral vectors for gene delivery, and FlashCell, a company engineering non-integrating lentiviral delivered RNA therapeutics, announced their merger to create a new gene therapy company - Flash Therapeutics.
The increasing prevalence of cancer and infectious diseases is anticipated to boost the demand for the bacterial and plasmid vectors market over the coming years. Bacterial vectors are used for the delivery of recombinant proteins into target cells for the treatment of cancer and various infectious diseases. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide, responsible for an estimated 9.6 million deaths in 2018. Moreover, according to the WHO, the world is facing many public health threats which include various issues from climate change to inadequate healthcare facilities, wherein infectious diseases dominated the WHO’s list of 2019 health threats. Therefore, the growing prevalence of cancer and various infectious diseases and the increasing demand for bacterial and plasmid vectors for gene therapy are projected to propel the market revenues for the bacterial and plasmid vectors market.
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