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Oncolytic Virus Immunotherapy Market to Reach US$ 572.2 Million by 2031, Driven by Advances in Cancer Treatment and Biotech Innovations - Transparency Market Research Inc.
Oncolytic Virus Immunotherapy
The global oncolytic virus immunotherapy market was valued at US$ 110.2 million in 2022 and is expected to expand at a CAGR of 21.1% from 2023 to 2031, reaching US$ 572.2 million by the end of the forecast period. Key factors propelling market growth include advancements in viral vector technology, increasing clinical trials, and growing adoption of combination therapies with immune checkpoint inhibitors
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Analyst Viewpoint
Analysts anticipate robust growth in the oncolytic virus immunotherapy market due to increasing R&D activities, strategic collaborations among pharmaceutical companies, and the development of novel therapeutic candidates. However, challenges such as manufacturing complexities and stringent regulatory pathways may slow down market penetration.
Market Demand and Key Drivers
Rising Cancer Prevalence: The increasing global cancer burden is driving demand for innovative treatment modalities.
Advancements in Viral Engineering: Improved genetic modifications enhance virus targeting and effectiveness.
Growing Adoption of Combination Therapies: Synergistic effects with checkpoint inhibitors and chemotherapy boost treatment efficacy.
Favorable Regulatory Approvals: Accelerated approvals and orphan drug designations support market expansion.
Expanding Investment in Immuno-oncology: Increased funding for cancer research fosters new therapeutic developments.
Recent Developments
2022, Amgen: Expanded clinical trials for its oncolytic virus therapy, T-VEC, in combination with checkpoint inhibitors.
2023, Replimune Group: Announced positive Phase II results for its oncolytic virus-based melanoma treatment.
2023, Oncorus: Launched a new platform for intravenously administered oncolytic viral therapies.
2024, SillaJen: Partnered with major biotech firms to develop novel oncolytic virotherapies.
2024, Bristol-Myers Squibb: Acquired an emerging biotech company specializing in oncolytic virus platforms.
Key Market Players
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.
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Market Trends and Opportunities
Increasing Interest in Personalized Oncolytic Therapies: Tailoring treatments based on tumor genetics.
Integration with Artificial Intelligence: AI-driven discovery for optimized viral design.
Expansion in Emerging Markets: Rising healthcare investments in Asia-Pacific and Latin America.
Development of Multi-Targeting Oncolytic Viruses: Enhancing efficacy through dual-action mechanisms.
Collaboration Between Pharma and Biotech Firms: Driving innovation and accelerated commercialization.
Market Segmentation
By Virus Type:
Herpes Simplex Virus (HSV)
Adenovirus
Reovirus
Newcastle Disease Virus (NDV)
Others
By Application:
Melanoma
Breast Cancer
Lung Cancer
Glioblastoma
Others
By End-User:
Hospitals
Cancer Research Centers
Biotech & Pharmaceutical Companies
Regional Analysis
North America: Strong regulatory support and high adoption of advanced therapies drive growth.
Europe: Increasing government funding and clinical trials boost market expansion.
Asia-Pacific: Growing prevalence of cancer and rising healthcare expenditures propel demand.
Latin America & Middle East/Africa: Improving access to innovative treatments supports market growth.
Future Market Analysis
The oncolytic virus immunotherapy market is poised for rapid expansion, fueled by advancements in virotherapy, increasing collaborations, and rising demand for alternative cancer treatments. The integration of AI in drug discovery, coupled with a focus on combination therapies, is expected to revolutionize the market landscape. Companies investing in next-generation viral immunotherapies will gain a competitive edge in this evolving industry.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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