Global Oncolytic Virus Therapy Market to Reach Value of USD 2,041.05 Million by 2032 | Emergen Research

Vancouver, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The global oncolytic virus therapy market size is expected to reach USD 2,041.05 Million at a steady CAGR of 23.9% in 2032, according to latest analysis by Emergen Research. Robust growth of the oncolytic virus therapy market can be attributed to growing geriatric population. Aging is a major factor accountable for cancer incidence, and prevalence increases drastically with age, particularly owing to rise in specific cancer associated risks that increase as individuals grow older and cellular repair mechanisms getting less effective. According to estimation for 2019, around 140,000 cancer cases were diagnosed in the US, and around 103,000 deaths occurred in individuals aged 85 years or above.

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Scope of Research

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MAJOR COMPANIES and Competitive Landscape

The global oncolytic virus therapy market is moderately fragmented with a large number of small- and medium-sized companies accounting for a major revenue share. Major companies have well-equipped research facilities and engage in various activities and initiatives to develop and deploy new and more efficient technologies in the oncolytic virus therapy market. Some prominent players operating in the oncolytic virus therapy market are:

• Oncolytics Biotech Inc.
• Lokon Pharma AB
• PsiOxus Therapeutics
• Sorrento Therapeutics Inc.
• CG Oncology Inc.
• ORYX GmbH & Co. KG
• VCNBiosciences
• DNAtrix
• Targovax
• SillaJen Inc

Strategic Development

In January 2021, Turnstone Biologics Corporation, which is a biotechnology firm focusing on cancer immunotherapies, announced the acquisition of Myst Therapeutics, which is a US-based private biotechnology firm engaged in innovative T-cell therapy advancements for solid tumors.

In October 2020, Oncolytics Biotech announced about signing of a partnership agreement with AIO and Roche to commence a Phase ½ trial (GOBLET) for gastrointestinal cancer. The trial would examine the use of pelareorep with anti-PD-L1 checkpoint inhibitor by Roche in cancer patients.

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Some Key Highlights in the Report

• In January 2021, Turnstone Biologics Corporation, which is a biotechnology firm focusing on cancer immunotherapies, announced the acquisition of Myst Therapeutics, which is a US-based private biotechnology firm engaged in innovative T-cell therapy advancements for solid tumors.
• Talimogene laherparepvec, which is a genetically engineered herpes simplex virus, is the only FDA approved oncolytic virus for treating melanoma.
• Immune checkpoint inhibitors provide various advantages such as greater survival time, commercial availability, and high potency against tumors. Various cancer types, including lung, breast, cervical, bladder, liver, stomach, colon, skin, and rectal cancer, have been found offer positive response when treated with checkpoint inhibitors. Checkpoint inhibitors function by blocking checkpoint proteins from binding with tumor cell proteins, thereby enabling the T cells to destroy cancer cells.
• According to a report published by the World Health Organization, in 2019, breast cancer was responsible for 2.09 million cancer cases and over 0.6 million deaths worldwide.
• Oncolytic virus therapy market revenue in Asia Pacific is expected to register the fastest growth rate as compared to that of other regional markets during the forecast period. This can be attributed to increasing healthcare expenditure in countries in the region, supportive government initiatives to raise awareness about cancer, and a large population and patient pool. In addition, rising disposable income and growing geriatric population are other factors causative of robust growth of the market in the region.

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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; 2019–2032)
  • Monoclonal Antibodies
  • Checkpoint Inhibitors
  • Cancer Vaccines
  • Immunomodulators
• Application Outlook (Revenue, USD Million; 2019–2032)
  • Melanoma
  • Lung Cancer
  • Breast Cancer
  • Others
• End-Use Outlook (Revenue, USD Million; 2019–2032)
  • Hospitals
  • Clinics
  • Research Institutes
  • Others     
• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Rest of MEA

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