Oncolytic Virus Immunotherapy Market Size, Status, Scope and Growth Prospects 2020-2030

Global Oncolytic Virus Immunotherapy Market: Introduction

According to the report, the global oncolytic virus immunotherapy market was valued at US$ 108.6 Mn in 2019 and is projected to expand at a CAGR of ~32% from 2020 to 2030. Oncolytic immunotherapy is a research area of cancer immunotherapy investigating the use of modified viruses to target cancer cells. Currently, a range of genetic modifications is being investigated for the treatment of cancer. It is a novel approach to anticancer therapy; however, the potential of viruses to induce an antitumor immune response has been known for some time.

The global oncolytic virus immunotherapy market is expanding, owing to increase in adoption of newer therapies. This is fueling demand for advanced products. It also represents new business development opportunities. Adenoviruses, herpes viruses, measles viruses, coxsackie viruses, polioviruses, reoviruses, poxviruses, and Newcastle disease viruses are some oncolytic viruses under preclinical and clinical development for cancer therapy.

North America dominated the global oncolytic virus immunotherapy market in 2019. The trend is anticipated to continue during the forecast period. Strategies adopted by key players, such as product approval & launch and mergers & acquisitions, well-established healthcare infrastructure, and early adoption of advanced therapeutics drive the oncolytic virus immunotherapy market in the region. Moreover, the availability of IMLYGIC in the U.S. is expected to boost the growth of market in North America.

Asia Pacific accounted for a significant share of the global oncolytic virus immunotherapy market in 2019. The market in the region is likely to expand at a moderate CAGR during the forecast period. Government initiatives in modernization of healthcare infrastructure in developing countries and rise in awareness about advanced therapeutics are key factors projected to propel the oncolytic virus immunotherapy market in Asia Pacific.

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Focus on Spreading Awareness about Cancer to Drive Oncolytic Virus Immunotherapy Market
The increase in cancer incidence across the globe is a major factor driving the demand for cancer treatment among patients. The burden of cancer prevalence is anticipated to lead to initiatives by governments and companies to spread awareness about rapid diagnosis and treatment of different cancer types. GI Cancers Alliance is an organization that engages in boosting awareness & screening, access to quality medical treatments, and helping member organizations collaborate, innovate, and leverage the full potential of effectuating change for cancer patients.

Adenovirus Type to Dominate Oncolytic Virus Immunotherapy Market

In terms of type, the global oncolytic virus immunotherapy market has been classified into herpes simplex virus (HSV), vaccinia virus, adenovirus, reovirus, and others. Adenovirus is the most promising agent used in gene-targeted oncolytic virus therapy (GTOVT) due to several good characteristics. Adenovirus is able to infect and kill cancer cells with no harm to normal cells. Moreover, the anti-cancer immune response elicited by the oncolytic adenovirus expands its anti-cancer efficacy, including the metastasis side. This, in turn, increases the use of adenovirus in oncolytic therapy, which drives the segment.

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Intratumoral to be Preferred Route of Administration

Based on route of administration, the global oncolytic virus immunotherapy market has been bifurcated into intratumoral and intravenous. The intratumoral segment is driven by increase in use of intratumoral route of administration. Advantages of intratumoral route such as maintenance of the concentration of oncolytic virus at the target site is anticipated to fuel the growth of the segment.

Non-small Cell Lung Cancer (NSCLC) to Witness Significant Demand for Oncolytic Virus Immunotherapy
In terms of application, the global oncolytic virus immunotherapy market has been divided into melanoma, non-small cell lung cancer (NSCLC), pancreatic cancer, breast cancer, and others. The others segment is driven by rise in prevalence and incidence of ovarian cancer and head & neck squamous cell carcinoma. The non-small cell lung cancer (NSCLC) segment accounted for a significant share of the market in 2019. The segment is likely to grow at rapid pace during the forecast period. NSCLC is the most common type of lung cancer, accounting for 80% to 85% of lung cancer diagnoses. The exposure to hazardous material, smoking, air pollution, family history of lung cancer, etc. are risk factors associated with NSCLC.

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North America to Dominate Oncolytic Virus Immunotherapy Market

In terms of region, the global oncolytic virus immunotherapy market has been divided into North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global oncolytic virus immunotherapy market in 2019, followed by Europe. North America accounted for a major share of the global oncolytic virus immunotherapy market in 2019. Presence of key players, adoption of advanced therapeutics, and focus on research & development are the key factors anticipated to drive the oncolytic virus immunotherapy market in the region.
The oncolytic virus immunotherapy market in Asia Pacific is expected to expand at a moderate CAGR during the forecast period. Strategies adopted by key players to address unmet needs of cancer treatment in developing regions are likely to boost the growth of the market in the region. For instance, TILT Biotherapeutics signed a license agreement with Biotheus, Inc. for cancer therapy with Oncolytic Virus TILT-123. Under the terms of the agreement, TILT granted Biotheus the rights to develop and commercialize TILT’s proprietary oncolytic virus TILT-123 in Greater China in January 2020

Competition Landscape
The global oncolytic virus immunotherapy market is fragmented in terms of number of players. Key players in the global oncolytic virus immunotherapy market include Amgen, Inc., Merck & Co., Inc. (Viralytics Limited), Shanghai Sunway Biotech Co., Ltd., TILT Biotherapeutics, Oncorus, Inc., Replimune Group, Inc., Oncolys BioPharma, Inc., Sorrento Therapeutics, Inc., Oncolytics Biotech, Inc., and SillaJen, Inc.

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