Press release
Oncolytic Virus Therapy Market 2024-2033: Opportunity Assessment, Competitive Landscape, Regional Demand And Major Players
Oncolytic Virus Therapy Market
The oncolytic virus therapy market size is expected to see exponential growth in the next few years. It will grow to $0.44 billion in 2028 at a compound annual growth rate (CAGR) of 23.9%. The growth in the forecast period can be attributed to expansion of oncolytic virus platforms, combination therapies with immune checkpoint inhibitors, personalized medicine approaches, expansion of clinical trial landscape, regulatory support and guidelines. Major trends in the forecast period include technological advances in delivery systems, advancements in synthetic biology, collaborations and partnerships in biopharmaceutical industry, advancements in virology and immunology, focus on pediatric oncology.
Market Overview -
Oncolytic virus therapy, also known as virotherapy, is a type of cancer treatment that utilizes viruses to target and destroy cancer cells in the body. The main objective of oncolytic virus therapy is to use viruses that have been genetically modified or naturally occur in a way that allows them to selectively infect and replicate within cancer cells while sparing healthy cells.
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Rising Cancer Prevalence Drives Growth In The Oncolytic Virus Therapy Market
The increasing prevalence of cancer cases is expected to propel the growth of the oncolytic virus therapy market going forward. Cancer is a term used to describe a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body. Oncolytic virus therapy offers the potential to selectively target and destroy cancer cells while stimulating an immune response against the tumor, providing a dual mechanism of action for effective cancer treatment. For instance, in January 2023, according to the American Cancer Society Inc., a US-based non-profit organization, it is anticipated that there will be 609,820 cancer deaths and 1,958,310 new cancer cases in the US during 2022. Therefore, the increasing prevalence of cancer cases is driving the growth of the oncolytic virus therapy market.
Competitive Landscape -
Major companies operating in the oncolytic virus therapy market report are Pfizer Inc., Johnson & Johnson, Sorrento Therapeutics Inc., AbbVie Inc., AstraZeneca plc, Amgen Inc., Boehringer Ingelheim Group, Regeneron Pharmaceuticals, Daiichi Sankyo Company Limited, Eurofins Scientific SE, Recipharm AB, Kissei Pharmaceutical Co. Ltd., Takara Bio Inc., Oncorus Inc., Replimune Inc., Vyriad Inc., Genelux Corporation, Oncolys BioPharma Inc., Adze Biotechnology, Oncolytics Biotech Inc., TILT Biotherapeutics Ltd., Transgene SA, Circio Holding ASA, Lokon Pharma AB, Provectus Biopharmaceuticals Inc., Vibalogics, SillaJen Inc.
Innovation Redefines Oncolytic Virus Therapy For Primary Brain Cancer
Product innovations are a key trend gaining popularity in the oncolytic virus therapy market. Major companies operating in the oncolytic virus therapy market are focused on introducing innovative products to sustain their position in the market. For instance, in November 2021, Daiichi Sankyo Company Limited, a Japan-based pharmaceutical company, launched DELYTACT in Japan. This is the first oncolytic virus approved for primary brain cancer in any region, including genetically engineered oncolytic herpes simplex virus type 1 (HSV-1). The virus selectively replicates and kills tumor cells without affecting normal tissues.
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Key Segments -
The oncolytic virus therapy market covered in this report is segmented -
1) By Therapy Type: HSV-Based Oncolytic Virus Therapy, Adenovirus-Based Oncolytic Virus Therapy, Reovirus, Poxviruses, NDV (Newcastle Disease Virus), Other Therapy Types
2) By Virus Type: Genetically Engineered Oncolytic Viruses, Oncolytic Wild-Type Viruses
3) By Application: Breast Cancer, Lung Cancer, Prostate Cancer, Melanoma, Brain Tumor, Blood Cancer
4) By End-User: Hospitals, Specialty Clinics, Cancer Research Institutes
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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2.2 Approaches for Targeting Tumor Cells
2.2.1 Pro Apoptotic Targeting
2.2.2 Translational Targeting
2.2.3 Transcriptional Targeting
2.2.4 Transductional Targeting
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