The latest study on the Oncolytic Virus Therapy Market industry includes a detailed analysis of the future trends and demands for the forecast period, 2020 - 2032 . The report is furnished with the latest scenario and growth outlook of the market with regard to the impact of the pandemic.The report considers 2017-2018 as historical years, 2019 as the base year, and 2020- 2032 as the forecast timeline. The report offers strategic recommendations to the key stakeholders and investors to help them ascertain maximum returns on their investments and formulate new strategic business plans.
The global oncolytic virus therapy market size is expected to reach USD 866.1 Million at a steady CAGR of 23.9% in 2028, according to latest analysis by Emergen Research. Steady growth of oncolytic virus therapy market can be attributed to rising cancer incidence globally. Cancer is a major cause of deaths in countries across the globe and it is estimated that in 2020, over 1.8 million new cancer cases were diagnosed in the US, with over 0.6 Million deaths occurring due to the disease. Also, around 70% of cancer mortality occurs in low and middle-income countries.
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Drivers:
Several factors are driving the growth of the Oncolytic Virus Therapy Market. Foremost among these is the need for more effective and targeted cancer treatments that can overcome tumor heterogeneity, drug resistance, and treatment-related toxicities. Oncolytic viruses offer a unique mechanism of action that selectively targets and kills cancer cells while sparing normal tissues, making them particularly attractive for treating aggressive or refractory cancers. Moreover, advancements in viral engineering techniques, tumor-specific targeting strategies, and immune modulation are enhancing the safety, efficacy, and specificity of oncolytic virus therapies, driving interest and investment in the field.
Restraints:
Despite its promising growth prospects, the Oncolytic Virus Therapy Market faces certain challenges that could impede its expansion. One of the primary restraints is the complexity and variability of tumor biology and the tumor microenvironment, which can influence the efficacy and response to oncolytic virus therapies. Additionally, concerns about off-target effects, immunogenicity, and viral replication kinetics raise safety and regulatory hurdles for the development and approval of oncolytic virus therapies. Moreover, manufacturing challenges, scalability issues, and high development costs may limit the accessibility and affordability of oncolytic virus treatments for patients.
Key players operating in the market are
Oncolytics Biotech Inc., Lokon Pharma AB, PsiOxus Therapeutics, Sorrento Therapeutics Inc., CG Oncology Inc., ORYX GmbH & Co. KG, VCNBiosciences, DNAtrix, Targovax, and SillaJen Inc.
Segmentation :
Emergen Research has segmented the global oncolytic virus therapy market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Million; 2021–2028)
Monoclonal Antibodies
Checkpoint Inhibitors
Cancer Vaccines
Immunomodulators
Application Outlook (Revenue, USD Million; 2021–2028)
Melanoma
Lung Cancer
Breast Cancer
Others
End-Use Outlook (Revenue, USD Million; 2021–2028)
Hospitals
Clinics
Research Institutes
Others
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The report classifies the global Oncolytic Virus Therapy Market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Oncolytic Virus Therapy Market products is expected to drive the demand for Oncolytic Virus Therapy Market , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.