Vancouver, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The global oncolytic virus therapies market size is expected to reach USD 1,546.51 Million at a steady CAGR of 26.2% in 2032, according to latest analysis by Emergen Research. Exponential rise in cancer across the globe is driving the growth of oncolytic virus therapies market.
Cancer is among the leading cause of death globally. The disease leads to 10 million deaths every year with 18 million new cases being diagnosed annually. Emergence of oncolytic viruses provide a new strategy to alleviate and sometimes cure malignant tumors. Oncolytic virus therapy is a novel approach to treat, cure and even prevent diseases by changing a person’s genes expression. This therapy is used in cancer treatment to find and destroy malignant cells.
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Most of oncolytic virus therapies are given to patients with brain tumor and melanoma through injections into tumors. According to research studies, injecting oncolytic virus into patients before their surgery alter their immune response and improves the effects of ensuing treatment. Majority of oncolytic virus immunotherapies by leading market players are for melanoma, breast cancer, and glioblastoma.
There exists an error between independently run and industry sponsored clinical trials which is expected to delay the availability of oncolytic therapies in the market. Surge in clinical research on oncolytic therapies will boost market revenue growth. Oncolytic virus immunotherapies have the potential to attack and infect healthy cells, which can lead to infection. This challenges the growth of the market.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 94.7 Million |
| CAGR (2023–2032) | 26.2% |
| Revenue forecast in 2032 | USD 1,546.51 Million |
| Base year for estimation | 2020 |
| Historical data | 2017–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Million and CAGR in % from 2023 to 2032. |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends. |
| Segments covered | Virus type, application, end-use, and region. |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa. |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA. |
| Key companies profiled | Oncolytics Biotech, Inc., Amgen Inc., Sorrento Therapeutics, Inc., Transgene SA, Daiichi Sankyo Company, Limited, Shanghai Sunway Biotech Co., Ltd., Takara Bio Inc., PsiOxus Therapeutics, SillaJen, Inc., and ViroCure. |
| Customization scope | 10 hours of free customization and expert consultation. |
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MAJOR COMPANIES and Competitive Landscape
The global oncolytic virus therapies market is consolidated, with few small- and medium-sized players accounting for majority revenue share. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient technologies and solutions in the oncolytic virus therapies market. Some prominent players operating in the market are:
- Oncolytics Biotech, Inc.
- Amgen Inc.
- Sorrento Therapeutics, Inc.
- Transgene SA
- Daiichi Sankyo Company, Limited
- Shanghai Sunway Biotech Co., Ltd.
- Takara Bio Inc.
- PsiOxus Therapeutics
- SillaJen, Inc.
- ViroCure
Strategic Development
- In January 2021, Enara Bio and Boehringer Ingelheim announced a strategic collaboration and licensing agreement for R&D of novel targeted cancer immunotherapy. The new collaboration combines Boehringer’s approach to treat cancer through pairing science with innovative platforms such as oncolytic virus and cancer vaccines, with Enara’s expertise in cancer antigen identification.
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Some Key Highlights in the Report
- In April 2021, Bristol Myers Squibb and PsiOxus Therapeutics expanded their partnership to study PsiOxus Therapeutics cancer-killing virus. Under the agreement, the partnership will combine Bristol’s checkpoint inhibitor Opdivo, and new asset NG-641, in different types of tumors. NG-641 is based on PsiOxus’s oncolytic virus, ‘enadenotucirev’.
- Melanoma is a serious disease which can advance and spread to different parts of the body where it becomes difficult to treat. It is the most common form of cancer in the U.S. Development of innovative treatments such as T-VEC is driving the growth of melanoma segment. T-VEC is made from genetically modified herpes virus, commonly known as cold sore virus. The therapy is designed to kill harmful cancer cells and enhances immune system’s ability to fight cancer.
- Hospitals segment accounted for the largest revenue share in 2020 due to increase in number of hospitals treating cancer in developing countries. Moreover, rise in patient emphasis on effective and timely disease management and rise in investment in healthcare infrastructure is driving the growth of the segment.
- Asia Pacific is forecasted to grow at a rapid rate during the forecast period due to increase in patient pool suffering from various types of cancer, such as breast cancer, lung cancer, ovarian cancer, and other cancers. Rise in research activities to develop effective therapies for the disease is also propelling the growth of the market in the region.
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Emergen Research has segmented the global oncolytic virus therapies market on the basis of virus type, application, end-use, and region:
- Virus Type Outlook (Revenue, USD Million; 2019–2032)
- Genetically Engineered Oncolytic Viruses
- Herpes Simplex Virus
- Adenovirus
- Vaccinia Virus
- Oncolytic Wild-Type Viruses
- Reovirus
- Newcastle Disease Virus
- Vesicular Stomatitis Virus
- Genetically Engineered Oncolytic Viruses
- Application Outlook (Revenue, USD Million; 2019–2032)
- Solid Tumors
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Glioblastoma
- Melanoma
- Hematological Malignancies
- Lymphoma
- Leukemia
- Myeloma
- Solid Tumors
- End-use Outlook (Revenue, USD Million; 2019–2032)
- Hospitals
- Specialty Clinics
- Cancer Research Institute
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
- North America
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