The global oncolytic virus therapy market is anticipated to grow at a considerable CAGR of over 15% during the forecast period (2024-2031). Oncolytic virus therapy is a promising therapeutic approach for the treatment of cancer. These oncolytic viruses destroy the cancerous cell as well as prevent the growth of tumor cells by stimulating the host anti-tumor immune responses.
The first oncolytic virus therapy was approved in 2015, it is still is in the nascent stage of being considered a suitable and effective cancer therapy. The first oncolytic virus was the genetically modified herpes simplex virus type I that is Talimogene laherparepvec (T-VEC) that reported to be clinically beneficial for patients with melanoma. The oncolytic virus therapy market is anticipated to grow at a decent growth rate during the forecast period.
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Most of the oncolytic virus therapy in clinical trials is in the preclinical phase followed by Phase-I trials. At present, two-three oncolytic drugs have been commercialized, however, around 48 oncolytic virus therapies are in clinical trials. The factors that are fuelling the growth of the market include the higher incidence and prevalence rate of cancer coupled with the advent of new treatment options.
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Market Coverage
- Segment Covered-
o By Application
o By Product
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Amgen Inc., Merck KGaA, Oncolytic Biotech, PsiOxus Therapeutics, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche AG, and Viralytics
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Oncolytic Virus Therapy Market Report Segment
By Product
- HSV-Based Oncolytic Viruses
- Adenoviruses-Based Oncolytic Viruses
- Others
By Application
- Melanoma
- Others
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