Oncolytic Virus Therapies Market Size 2023: Global Report, Industry Analysis and Trends by 2028

Industry Overview of Oncolytic Virus Therapies Market
Oncolytic virus therapies are a type of immunotherapy that harnesses the power of viruses to selectively infect and destroy cancer cells. These therapies utilize a range of natural and genetically modified viruses, including herpes simplex, vaccinia, adenovirus, reovirus, picornavirus, and more. By infecting cancer cells, oncolytic viruses activate danger signals that stimulate an immune response and target solid tumors, melanoma, and unresectable lesions. They can effectively eliminate tumors by specifically attacking and destroying the malignant cells while sparing healthy tissue. In contrast to traditional chemotherapy, oncolytic virus therapies are non-toxic and offer enhanced efficacy, leading to improved survival rates for cancer patients. This makes them a promising treatment option in the field of oncology. Oncolytic virus therapies are extensively utilized in hospitals, clinics, and cancer research institutes, where they are employed to advance patient care, explore new treatment strategies, and conduct clinical trials.

How Big Is the Oncolytic Virus Therapies Market?
The global oncolytic virus therapies market size reached US$ 130.4 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 492.6 Million by 2028 exhibiting a CAGR of 20.90% during 2023-2028.

Read Full Report: https://www.imarcgroup.com/oncolytic-virus-therapies-market

Oncolytic Virus Therapies Market Trends and Drivers:
The oncolytic virus therapies market is experiencing significant growth driven by several factors. One key factor is the widespread adoption of these therapies for treating various cancers, including glioblastoma, breast, lung, and prostate cancers. These therapies possess potent anti-tumor properties and the ability to precisely target tumors while minimizing harm to surrounding healthy tissues, making them highly effective in cancer treatment. Additionally, there is an increasing demand for oncolytic virus therapies in managing different types of melanomas, such as hematological malignancies, lymphoma, leukemia, and myeloma, which further contributes to market growth. Moreover, patients' growing concerns about the potential negative health impacts of conventional cancer treatments like surgery, radiation therapy, chemotherapy, and immunotherapy are driving the demand for alternative options like oncolytic virus therapies. These therapies offer a promising and less invasive treatment approach. Furthermore, the increasing number of advanced clinical studies focusing on oncolytic viruses, including herpesvirus, adenovirus, and vaccinia, that have reached the final stages and demonstrated promising experimental results, positively influences the global market. The findings from these studies contribute to the growing body of evidence supporting the effectiveness of oncolytic virus therapies. Additionally, the rising need for advanced treatments and novel therapeutics, along with the launch of initiatives by government bodies to raise awareness about different causes of cancer and promote early diagnosis, are expected to drive the oncolytic virus therapies market. Overall, the oncolytic virus therapies market is propelled by the adoption of these therapies for various cancers, increasing patient demand for alternative treatments, advancements in clinical studies, and supportive initiatives by government organizations.

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What Is Included In Market Segmentation?
The report has been segmented the market into following categories:

Breakup by Virus Type:
Genetically Engineered Oncolytic Viruses
Herpes Simplex Virus
Adenovirus
Vaccinia Virus
Oncolytic Wild-Type Viruses
Reovirus
Newcastle Disease Virus
Vesicular Stomatitis Virus

Breakup by Application:
Solid Tumors
Breast Cancer
Prostate Cancer
Lung Cancer
Glioblastoma
Melanoma
Hematological Malignancies
Lymphoma
Leukemia
Myeloma

Breakup by End Use:
Hospitals
Specialty Clinics
Cancer Research Institute

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:

Amgen Inc., Dnatrix Inc., Genelux Corporation, Lokon Pharma AB, Replimune Group Inc., Rigvir Ltd., Sorrento Therapeutics, Takara Bio Inc. (Takara Holdings Inc.), Targovax, TILT Biotherapeutics Ltd, Transgene SA and Vyriad.

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