Oncolytic Virus Therapy Market Rapid Growth and Key Research Insights through 2031- Amgen, Shanghai Sunway Biotech Co. Ltd, and RIGVIR.

The global oncolytic virus therapy market reached US$ 38.27 million in 2023 and is expected to reach US$ 146.20 million by 2031, growing at a CAGR of 18.5% during the forecast period 2024-2031.

Oncolytic Virus Therapy Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Oncolytic virus therapy is a form of cancer treatment that uses genetically modified or naturally occurring viruses to selectively target and destroy cancer cells. These viruses replicate within tumors, triggering immune responses that help eliminate cancerous cells. Approved treatments like Talimogene Laherparepvec (T-VEC) are used for melanoma, with ongoing research expanding its applications. This therapy offers a promising alternative to traditional treatments like chemotherapy. Advances in immunotherapy and precision medicine are driving market growth.

List of the Key Players in the Oncolytic Virus Therapy Market:

Amgen, Shanghai Sunway Biotech Co. Ltd, and RIGVIR.

Market Dynamics:

The rising prevalence of cancer and increasing clinical research on oncolytic virus therapy are driving the global market growth. According to ClinicalTrials.gov, 10 interventional clinical studies on oncolytic virus therapy are currently active. Notable examples include:

✦ A Phase II window-of-opportunity trial combining stereotactic body radiation therapy (SBRT) and in situ oncolytic virus therapy for metastatic triple-negative breast cancer and metastatic non-small cell lung cancer, followed by Pembrolizumab. Sponsored by The Methodist Hospital Research Institute, it is expected to be completed by November 2023.

✦ A Phase I/II study of Pexa-Vec oncolytic virus combined with immune checkpoint inhibitors for refractory colorectal cancer, sponsored by the National Cancer Institute (NCI), with an estimated completion date of June 2023.

✦ A Phase 1b/2 study with GL-ONC1 oncolytic immunotherapy for patients with recurrent or refractory ovarian cancer (VIRO-15), sponsored by Genelux Corporation, with an expected completion date of December 2022.

✔ Additionally, WHO statistics indicate that cancer was responsible for 10 million deaths in 2020, accounting for 1 in 6 global deaths. Approximately 70% of these deaths occurred in low- and middle-income countries. The most common cancer types were:

⇥ Breast cancer: 2.26 million cases

⇥ Lung cancer: 2.21 million cases

⇥ Colorectal cancer: 1.93 million cases

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Growth Forecast Projected:

The Global Oncolytic Virus Therapy Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Oncolytic Virus Therapy Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Oncolytic Virus Therapy Market:

By Drug Class: Onxy-15, Talimogene laherparepvec, Reolysin, RIGVIR, Others.

By Application: Melanoma, Ovarian Cancer, Breast Cancer, Others.

By Therapy Type: HSV-based Oncolytic Viruses, Adenoviruses-based Oncolytic Viruses, Vaccinia virus-based Oncolytic Viruses, Vesicular Stomatitis Virus-based Oncolytic Viruses, Newcastle Disease Virus-based Oncolytic Viruses.

Regional Analysis for Oncolytic Virus Therapy Market:

The regional analysis of the Oncolytic Virus Therapy Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Oncolytic Virus Therapy market?

➠ Who are the leading manufacturers in the global Oncolytic Virus Therapy industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Oncolytic Virus Therapy industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Oncolytic Virus Therapy market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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