Oncolytic Virus Therapy Market Top Companies Study - Provectus Biopharmaceuticals, Inc., Takara Bio Inc., SillaJen, Inc., Oncorus, Inc., Amgen.

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 2031."

The Oncolytic Virus Therapy Market is estimated to grow at a 25% CAGR during the forecast period for 2024-2031.

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Oncolytic viruses (OVs) are either naturally occurring or genetically engineered viruses designed to selectively target and destroy cancer cells while sparing healthy tissue. This innovative therapeutic approach has shown promising results in treating cancer globally. Oncolytic virus therapies operate by targeting DNA or RNA, either within or outside the body, intersecting with other biomedical research fields with similar therapeutic objectives. These therapies, functioning as a form of gene therapy, utilize natural viruses to identify and eliminate cancerous cells, representing a novel strategy for potentially treating, curing, or preventing diseases through genetic modification.

The market for oncolytic virus therapies is experiencing significant growth due to the increasing demand for effective treatments for chronic diseases and the rising global incidence of cancer. Factors such as population growth, an aging demographic, and greater exposure to cancer risk factors have contributed to the heightened prevalence of cancer. The growing need for advanced cancer diagnostics and treatments is expected to drive market expansion during the forecast period. Furthermore, the increasing demand for targeted cancer therapies, bolstered by advances in cancer research and the rising number of immuno-oncology drug approvals, is anticipated to accelerate the market's growth. Rising healthcare expenditures, particularly in developing regions where governments are actively promoting cancer awareness, are also contributing to market expansion. Technological advancements are facilitating the development of cost-effective treatments, further strengthening the drug pipeline and driving growth in the oncolytic virus therapy market.

However, the potential side effects of oncolytic virus therapies, including injection site discomfort, chills, nausea, fatigue, and fever, may pose challenges and limit market growth to some extent.

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North America is expected to play a pivotal role in the growth of the oncolytic virus therapy market, with the United States poised for significant expansion. This growth is primarily fueled by substantial investments in clinical trials from both private sector players and government agencies. Key drivers of market expansion include heightened research and development activities focused on chronic disease treatment, efficient approval processes for clinical trials, and the availability of a highly advanced research infrastructure.

Furthermore, the oncolytic virus therapy market in the Asia Pacific region is projected to experience considerable growth, driven by the increasing incidence of various cancers, such as ovarian, lung, and breast cancers. The growth of research initiatives aimed at developing effective therapies for these cancers is also contributing to the market's expansion in this region.

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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