A new report projects steady growth for the global transfection technologies market over the next several years. The market, valued at $1.2 billion in 2023, is anticipated to reach $1.8 billion by 2028, reflecting a compound annual growth rate (CAGR) of 9.4%.
Driving this growth is an uptick in spending on research and development by biotechnology companies seeking to bring cell and gene therapies to market. The rising incidence of diseases like cancer is creating strong demand for these advanced treatment approaches. To develop them requires the process of transfection, by which foreign genetic material is delivered into cells.
The transfection technologies space encompasses methods like electroporation and viral transfection along with enabling products such as reagent kits and specialized equipment. Currently, physical transfection that leverages approaches like electroporation accounts for the biggest portion of the market. However, the report suggests even faster expansion in applications for therapeutic delivery.
Major players are actively investing to expand capabilities on this front. For instance, in 2023 Thermo Fisher Scientific introduced a new electroporation platform specifically designed to boost genome editing outcomes. Others like Merck have recently acquired assets including CDMOs specializing in mRNA, which also utilizes transfection in the production process.
Geographically, North America made up the largest share of the 2022 global transfection technologies market at over 40%. Strong growth is anticipated here as well as in Europe thanks to supportive government policies, research funding programs, and advanced healthcare infrastructure capable of facilitating cell and gene therapy research.
However, key challenges for even faster industry growth include toxicity associated with some methods as well as inconsistent or low efficiency rates that impact outcomes. As protocols improve, these obstacles may decline in coming years.
Overall the transfection technologies space appears primed for substantial expansion as precision medicine and advanced biologics continue gaining momentum worldwide. Market players both big and small have major opportunities to enable these cutting-edge applications through continual innovation.
SOURCE:https://www.marketsandmarkets.com/Market-Reports/transfection-technologies-market-895.html
