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Oncolytic Virus Therapy Market Growth – at a CAGR of 23.9%, Market Trends – Increased investments in research and development of advanced cancer therapies.

VANCOUVER, BC, CANADA, May 4, 2022 /EINPresswire.com/ -- Increasing prevalence of cancer and rising awareness regarding need for early diagnosis are some key factors driving growth of the global oncolytic virus therapy market growth

The Global Oncolytic Virus Therapy Industry size is expected to reach USD 866.1 Million at a steady CAGR of 23.9% in 2028, according to latest analysis by Emergen Research.  The report titled ‘Global Oncolytic Virus Therapy Market’ is a comprehensive report that offers detailed research and analysis of key aspects of the global Oncolytic Virus Therapy market. The data is gathered through extensive primary and secondary research and further validated by industry experts and professionals. The report provides full coverage of the key driving factors, restraints, challenges, trends, and growth prospects to offer a complete overview of the global Oncolytic Virus Therapy market. New entrants and top players can benefit from the data offered by the report to plan effective business and investment strategies. Additionally, the report provides a comprehensive analysis of current and emerging trends.

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Key Companies Profiled in the Report:
Oncolytics Biotech Inc.
Lokon Pharma AB
PsiOxus Therapeutics
Sorrento Therapeutics Inc.
CG Oncology Inc.
ORYX GmbH & Co. KG
VCNBiosciences
DNAtrix
Targovax
SillaJen Inc.

Steady growth of oncolytic virus therapy market can be attributed to rising cancer incidence globally. Cancer is a major cause of deaths in countries across the globe and it is estimated that in 2020, over 1.8 million new cancer cases were diagnosed in the US, with over 0.6 Million deaths occurring due to the disease.

Also, around 70% of cancer mortality occurs in low and middle-income countries. Oncolytic virus therapy (a type of immunotherapy) uses engineered viruses to destroy cancer cells without affecting healthy cells in the human body. Once a cancer cell is destroyed, it releases cancer antigens that trigger immune responses to destroy other tumor cells in the body.

Some Key Highlights in the Report
In October 2020, Oncolytics Biotech made announced the signing of a partnership agreement with AIO and Roche to commence a Phase ½ trial(GOBLET) for gastrointestinal cancer. The trial would examine the use of pelareorep with anti-PD-L1 checkpoint inhibitor by Roche in cancer patients.

Monoclonal antibodies are considered beneficial in stimulating immune responses to destroy cancer cells. In addition, certain monoclonal antibodies are capable of blocking the connection between the cellular growth promoting proteins and cancer cells, thereby killing the cancer cells.

Oncolytic virus therapy in the treatment of lung cancer is used to deliver specific immunomodulatory or therapeutic genes to destroy cancer cells.

Oncolytic virus therapy holds significant potential to improve tumor cell oncolysis and circumvent resistance mechanisms of tumor cells. It was estimated that in 2020, over 0.2 million adults in the US were diagnosed with lung cancer, which accounted for around 13.0% of the total individuals diagnosed with cancer in the same year.

The North America oncolytic virus therapy accounted for largest revenue share in the global oncolytic virus therapy market in 2020, which can be attributed to rising incidence of cancer, particularly among the elderly population. Furthermore, presence of major oncolytic virus therapy firms and rising investments in cancer immunotherapy is a major factor driving growth of the market in the region.

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Emergen Research has segmented the global oncolytic virus therapy market on the basis of type, application, end-use, and region:

Type Outlook (Revenue, USD Million; 2021–2028)
Monoclonal Antibodies
Checkpoint Inhibitors
Cancer Vaccines
Immunomodulators

Application Outlook (Revenue, USD Million; 2021–2028)
Melanoma
Lung Cancer
Breast Cancer
Others

End-Use Outlook (Revenue, USD Million; 2021–2028)
Hospitals
Clinics
Research Institutes
Others

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Regional Outlook (Revenue, USD Million; 2021–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of MEA

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Key Offerings of the Report:
Detailed overview of market dynamics including drivers, restraints, opportunities, challenges, and growth prospects
Analysis of the key strategic initiatives and competitive landscape including mergers & acquisitions, joint ventures, collaborations, product launches, and brand promotions, and partnerships, among others
Comprehensive analysis of the industry outlook and analysis of the industrial chain
Market forecast based on global, regional, and country-level market analysis
Competitive landscape benchmarking
In-depth analysis of the key market players with their product portfolios, financial positions, unique selling points, market share and size, and a comprehensive overview of their business

Thank you for reading this report. For further details or inquiries, please connect with us, and our team will ensure the report is tailored to meet your requirements.

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