Plasmid DNA Manufacturing Market is Estimated to Witness High Growth Owing to Opportunity of Developing Gene Therapies
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| Plasmid DNA Manufacturing Market |
Plasmid DNA is a small, circular DNA molecule found in bacteria and some other unicellular organisms. Plasmids are used in genetic engineering and gene therapy as they are able to replicate independently of chromosomal DNA. Plasmids are engineered for use in bacterial cloning and gene expression. They are important tools for various biotechnological and medical applications including the development and manufacturing of gene therapies.
The global
plasmid DNA manufacturing market is estimated to be valued at US$ 901.2 Bn in
2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to
2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity for developing gene therapies is driving the growth of the
plasmid DNA manufacturing market. Gene therapies involve the introduction,
elimination, or correction of defective genes responsible for diseases. Plasmid
DNA plays a key role as a delivery vehicle for gene therapies. With the rising
demand for advanced therapeutics and increasing investment in gene therapy
research, more and more plasmid DNA will be required for developing gene
therapies. Technological advancements are also improving the efficacy and
safety of gene therapy products. This will boost the utilization of plasmid DNA
in manufacturing gene therapies, providing opportunities for market players.
Innovations in plasmid engineering and manufacturing processes aimed at
enhancing the effectiveness of gene therapies will further support the market
growth in the coming years.
Porter's Analysis
Threat of new entrants: New players can enter the plasmid DNA manufacturing
market but they need sizable investments for R&D and manufacturing
facilities to produce high quality Plasmid DNA. The industry also requires
approvals and certifications from drug regulatory authorities.
Bargaining power of buyers: The key pharmaceutical and biotechnology companies
have significant bargaining power as buyers due to the consolidated nature of
demand. However, the development of new therapies continues to increase demand.
Bargaining power of suppliers: A few major players dominate the supply of
critical raw materials for plasmid DNA production giving them bargaining power
over manufacturers. However, the emergence of local raw material producers has
reduced this power.
Threat of new substitutes: There are no real substitutes for Plasmid DNA used
in therapies, diagnostics and research. While other nucleic acids can be used
for some applications, Plasmid DNA remains the primary choice.
Competitive rivalry: The plasmid DNA manufacturing market sees intense
competition among the top players to gain market share and create entry
barriers through innovative technologies, acquisitions and strategic
collaborations.
SWOT Analysis
Strengths: Growing genetic and cell therapy research and demand for plasmid DNA
in clinical trials and commercialization of therapies. Established
manufacturing capabilities and expertise of top players.
Weaknesses: High costs associated with plasmid DNA production. Risk of
contamination during manufacturing lowering quality and yield.
Opportunities: Emerging markets in Asia Pacific and Latin America expected to
boost future growth. Rising investments in gene and cell therapy startups
boosting off-take.
Threats: Stringent regulatory approvals and quality standards lengthen product
approval times. Dependence on few suppliers for critical raw materials.
Key Takeaways
The global Plasmid DNA Manufacturing Market is expected to witness high growth
over the forecast period driven by rising genetic and cell therapy research. Global
Plasmid DNA Manufacturing Market Size is estimated to be valued at US$ 901.2 Bn in 2023 and is expected to
exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
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