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Increasing prevalence of cancer & rising awareness regarding need for early diagnosis are some key factors driving growth of the oncolytic virus therapy market

VANCOUVER, BC, CANADA, May 19, 2022 /EINPresswire.com/ -- The global oncolytic virus therapy market 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.

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.

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Oncolytic virus therapy is an immunotherapy which utilizes engineered viruses to destroy cancer cells without having a negative impact on healthy cells in the human body. After a cancer cell is destroyed in the body, it releases cancer antigens which trigger immune responses to further destroy other tumor cells present in the body. Growing demand for effective treatment for hard-to-treat cancers, while also having minimal impact on the patient will boost oncolytic virus therapy market through 2028.

Research Report on the Oncolytic Virus Therapy Market Addresses the Following Key Questions:

Who are the dominant players of the Oncolytic Virus Therapy market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Oncolytic Virus Therapy market?

What are the key growth drivers and restraining factors of the Oncolytic Virus Therapy market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Oncolytic Virus Therapy market and its key segments?

To know more about the report, visit @ https://www.emergenresearch.com/industry-report/oncolytic-virus-therapy-market

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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Market Overview:
The report bifurcates the Oncolytic Virus Therapy market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

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

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Oncolytic Virus Therapy market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Thank you for reading our report. Please connect with us to know more about the report or the customization of the report. Our team will ensure the report is best suited to meet your requirements.

About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Oncolytic Virus Therapy Market Size Worth USD 866.1 Million by 2028

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