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Oncolytic Virus Immunotherapy Market Size Will Anticipated to Growing at a CAGR of 21.1% by 2031 | Transparency Market Research Inc.
Oncolytic Virus Immunotherapy
Oncolytic Virus Immunotherapy Market is expected to advance at a CAGR of 21.1% from 2023 to 2031 and reach US$ 572.2 Mn by the end of 2031
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Overview of Oncolytic Virus Immunotherapy Market
The global oncolytic virus immunotherapy market is experiencing significant growth driven by the rising incidence of cancer, the need for more effective treatments, and advancements in biotechnology. The market is segmented by virus type (herpes simplex virus, adenovirus, reovirus, vaccinia virus, others), application (melanoma, breast cancer, prostate cancer, lung cancer, others), end user (hospitals, cancer research institutes, specialty clinics), and geographical regions.
Top Companies:
Merck & Co., Inc. (Viralytics Limited)
Amgen Inc.
Shanghai Sunway Biotech Co., Ltd.
TILT Biotherapeutics
Oncorus, Inc.
Replimune Group, Inc.
Oncolys Biopharma, Inc.
Sorrento Therapeutics, Inc.
Oncolytics Biotech, Inc.
SillaJen, Inc.
Recent Developments in Oncolytic Virus Immunotherapy Market
Recent advancements and trends in the oncolytic virus immunotherapy market include:
Regulatory Approvals: Recent approvals by regulatory bodies, such as the FDA and EMA, for oncolytic virus therapies like T-VEC (talimogene laherparepvec) for melanoma.
Combination Therapies: Increasing use of oncolytic viruses in combination with other immunotherapies, such as checkpoint inhibitors, to enhance therapeutic efficacy.
Genetic Engineering: Advances in genetic engineering techniques allowing for the development of more potent and selective oncolytic viruses.
Clinical Trials: Ongoing and newly initiated clinical trials investigating the efficacy and safety of various oncolytic viruses in different cancer types.
Personalized Medicine: Growing interest in personalized cancer treatments leading to the customization of oncolytic virus therapies based on individual patient profiles.
Drivers of Market Growth
Several factors contribute to the growth of the oncolytic virus immunotherapy market:
Rising Cancer Incidence: Increasing global incidence of cancer driving the demand for innovative and effective treatments.
Advancements in Biotechnology: Continuous advancements in genetic engineering and biotechnology facilitating the development of novel oncolytic viruses.
Success of Immuno-Oncology: Success of immuno-oncology treatments, such as checkpoint inhibitors, boosting interest and investment in complementary therapies like oncolytic viruses.
Targeted Therapy: Ability of oncolytic viruses to selectively target cancer cells while sparing healthy tissues, reducing side effects compared to traditional therapies.
Research and Development: Increased funding and focus on R&D activities aimed at understanding the mechanisms of action and improving the efficacy of oncolytic virus therapies.
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Conclusion
The oncolytic virus immunotherapy market is poised for significant growth, driven by the rising incidence of cancer, advancements in biotechnology, success of immuno-oncology, and the need for targeted therapies. Innovations in regulatory approvals, combination therapies, genetic engineering, clinical trials, and personalized medicine are enhancing the potential and efficacy of oncolytic virus therapies.
Market Segmentation
Type
Herpes Simplex Virus
Vaccinia Virus
Adenovirus
Reovirus
Others
Route of Administration
Intratumoral
Intravenous
Application
Melanoma
Non-small Cell Lung Cancer (NSCLC)
Pancreatic Cancer
Breast Cancer
Others
Regions Covered
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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