LOS ANGELES, Jan. 29, 2019 (GLOBE NEWSWIRE) -- QY Research has released a new report that carries the title “Global Oncolytic Virus Therapy Market Size, Status and Forecast 2018-2025.” In this report, the global oncolytic virus therapy market is predicted to attain a value of over US$ 13.5 Mn by the end of 2025 while expanding at a staggering CAGR of 24.9% during the forecast period 2018-2025. Virotherapy is considered to be a crucial weapon to attack and destroy cancer cells. The development of advanced genetic engineering techniques is expected to help the global market to attract growth in the coming years. Oncolytic virus therapy is a highly recognized discipline in cancer research.
Global Oncolytic Virus Therapy Market: Drivers
The rising number of cancer patients is prognosticated to increase the demand for oncolytic virus therapy. Development of new cancer therapies with low toxicity toward healthy cells and high potency toward malignant cells is anticipated to highlight the global oncolytic virus therapy market. The advancement in virology and oncology is foreseen to augur well for the growth of the global market.
Limited effectiveness of standard cancer therapeutics is foretold to increase the interest in targeted cancer therapy using viruses. This is expected to create opportunities in the global oncolytic virus therapy market. Oncolytic viruses are studied to primarily kill or infect cancer cells and later destroy the remaining tumor.
Global Oncolytic Virus Therapy Market: Forecast by Application and Type
On the basis of application, the global oncolytic virus therapy market is classified into ovarian cancer, breast cancer, prostate cancer, melanoma, and others. In 2017, research and development investment in melanoma reached a significant percentage, as per the report.
By type, the global market sees a classification into Newcastle disease virus-based oncolytic viruses, vesicular stomatitis virus-based oncolytic viruses, vaccinia virus-based oncolytic viruses, adenoviruses-based oncolytic viruses, and HSV-based oncolytic viruses.
Global Oncolytic Virus Therapy Market: Forecast by Region
The report includes a comprehensive geographical study of the global oncolytic virus therapy market that covers key regions and countries, viz. Central and South America, India, Southeast Asia, Japan, China, Europe, and the U.S.
Each geographical segment of the global market is analyzed in great detail in terms of consumption, share, revenue, and other vital factors.
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Global Oncolytic Virus Therapy Market: Key Players
Some of the prominent names of the global oncolytic virus therapy market profiled in the report are Cold Genesys, TILT Biotherapeutics, Vyriad, Genelux Corporation, Lokon Pharma, Sorrento Therapeutics, SillaJen Biotherapeutics, and PsiOxus Therapeutics. Regional and local players are observed to offer specific application products to end users.
Global Oncolytic Virus Therapy Market: Competitive Analysis
According to the research study, leading companies are anticipated to focus on substantially investing in research marketing to secure a strong position in the industry. The presence of a number of companies in the global oncolytic virus therapy market is prophesied to make the competition intense during the forecast period. Merger and acquisition could be another factor increasing the market competition.
New entrants may find it difficult to compete with established players because of their high technological innovation, reliability, and quality.
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