Oncolytic Virus Therapy Market Targeting Cancer with Viruses Engineered for Success

Oncolytic Virus Therapy Market worth $ 865.01 Million by 2030 - Exclusive Report by InsightAcea Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Oncolytic Virus Therapy Market- by Product (Herpes Simplex Virus (HSV), Adenoviruses, Vaccinia Virus, Vesicular Stomatitis Virus and Newcastle Disease Virus), Application (Melanoma, Prostate Cancer, Breast Cancer, Ovarian Cancer and Others), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Oncolytic Virus Therapy market will be valued at US$ 125.39 Million in 2021. It is expected to reach US$ 865.01 Million by 2030, with a CAGR of 24.29% during a forecast period of 2024-2031.

Oncolytic Viral Therapy: A Promising Approach for Cancer Treatment
Oncolytic viral therapy is a cutting-edge cancer treatment approach utilizing naturally occurring or genetically modified viruses (oncolytic viruses or OVs) to selectively target and destroy cancer cells while leaving healthy cells unharmed. This innovative therapy has shown promising results in global clinical trials.
Therapeutic Similarities and Distinctions

Oncolytic viral therapies share some similarities with other areas of biomedical research focused on similar therapeutic goals:
• Targeting DNA or RNA: Both oncolytic viral therapies and other gene therapies aim to modify genetic material to treat diseases.

• Internal or External Application: Some gene therapies target genetic material outside the body, while oncolytic viral therapies deliver their therapeutic effect through viruses infecting cancer cells within the body.
However, oncolytic viral therapy has a distinct characteristic:

• Utilizing Viruses: It leverages naturally occurring viruses specifically modified to target and eliminate cancer cells.
Market Growth Drivers

The oncolytic viral therapy market is experiencing growth due to several factors:
• Rising Cancer Rates: The increasing incidence of cancer globally, driven by population growth, aging populations, and exposure to risk factors, is a key driver.

• Demand for Advanced Therapies: The growing need for more effective and innovative cancer detection and treatment methods is fueling market expansion.

• Targeted Cancer Therapies: The rising demand for targeted cancer treatments, bolstered by rapid advancements in cancer research and the increasing approval of immuno-oncology drugs, is propelling market growth.

• Technological Advancements: Developments in technology that facilitate the creation of more affordable oncolytic viral therapies and the progress of related pipeline projects are significant growth drivers.

Challenges and Considerations
Despite its promise, oncolytic viral therapy faces some challenges:
• Limited Revenue Growth: While the market is expanding, its revenue growth is restricted by some common adverse effects experienced by patients, including injection site pain, fever, chills, nausea, and fatigue.

• Focus on Awareness: Developing countries, where cancer rates are rising, need increased awareness and education about oncolytic viral therapy as a treatment option.

I hope this revision improves readability by separating the explanation of oncolytic viral therapy from the market analysis and highlighting the specific factors driving growth and challenges.

North America is anticipated to contribute to the Oncolytic Virus Therapy market. Due to the substantial financing provided for clinical trials by private businesses and the government, the U.S., the primary provider, is anticipated to experience rapid expansion. Growth in research and development initiatives to create treatment alternatives for chronic diseases, simple approval for clinical studies, and highly advanced research infrastructure drive the market for oncolytic virus medicines. In addition,

the Asia Pacific Oncolytic Virus Therapy market is expected to register significant growth due to an increase in the number of patients with various malignancies, including ovarian, lung, breast, and other cancers. The market expansion in the region is also being driven by an increase in research efforts to create efficient treatments for the condition.

Major market players operating in the Oncolytic Virus Therapy market include
Provectus Biopharmaceuticals, Inc., Takara Bio Inc., SillaJen, Inc., Oncorus, Inc., Amgen, OncoMyx Therapeutics, Inc., Replimune Inc., Oncolytics Biotech, Vyriad, Inc., Viralytics, Transgene SA, OncolysBioPharma, Unleash ImmunoOncolytics, Inc., TargovaxPsiOxus Therapeutics, Sorrento Therapeutics, Lokon Pharma AB, Genelux Corporation, TILT Biotherapeutics, Cold Genesys and Western Oncolytics.

Recent collaborations and agreements in the market:
• In April 2021, to research PsiOxus Therapeutics' cancer-killing virus, Bristol Myers Squibb and PsiOxus Therapeutics increased their collaboration. Opdivo, a checkpoint inhibitor from Bristol, and NG-641, a novel asset, will be used in combination in several tumor types, according to the agreement. Enadenotucirev, an oncolytic virus developed by PsiOxus, is the foundation of NG-641.
• In January 2021, the development of innovative targeted cancer immunotherapy will be supported by a strategic partnership and licensing agreement between Enara Bio and Boehringer Ingelheim. The newly formed partnership combines Enara's proficiency in cancer antigen identification with Boehringer's approach to treating cancer and blends research with cutting-edge platforms like oncolytic viruses and cancer vaccines.

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Market Segments
Global Oncolytic Virus Therapy Market, by Product, 2022-2030 (Value US$ Mn)
• Herpes Simplex Virus (HSV)
• Adenoviruses
• Vaccinia Virus
• Vesicular Stomatitis Virus
• Newcastle Disease Virus

Global Oncolytic Virus Therapy Market, by Application, 2022-2030 (Value US$ Mn)
• Melanoma
• Prostate Cancer
• Breast Cancer
• Ovarian Cancer
• Others

Global Oncolytic Virus Therapy Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Oncolytic Virus Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada

Europe Oncolytic Virus Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Oncolytic Virus Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Oncolytic Virus Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Oncolytic Virus Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Oncolytic Virus Therapy market
 To receive an industry overview and future trends of the Oncolytic Virus Therapy market
 To analyze the Oncolytic Virus Therapy market drivers and challenges
 To get information on the Oncolytic Virus Therapy market value (US$ Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Oncolytic Virus Therapy market industry

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