In last couple of years, the number of people suffering from chronic diseases like hypertension and cancer are on a surge. This sudden spike can be contributed to multiple factors like non-active lifestyle, bad eating habits etc. Disease like cancer has been claiming lives of numerous people each year and in an attempt to treat cancer, all the leading hospitals and specialty clinics are extensively using several therapies like chemo and radiation. The oncolytic virus cancer immunotherapy has been seen as a potential treatment to treat the life-threatening disease. The oncolytic virus basically infects the cancer cells and then destroys them. Immediately after infected cells of cancer are destroyed, new infectious virus particles are released in order to get rid of the remaining tumour. This is the reason why; the global oncolytic virus cancer immunotherapy market is growing significantly.
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The growth of the global oncolytic virus cancer immunotherapy market slumped in the times of the coronavirus pandemic. Hospitals and clinics were crowded with people infected with dreadful COVID-19 and this dented this market’s growth.
Rising number of cancer patients and higher amount of costs associated with conventional treatments like radiation and chemo, are forcing people to seek newer ways of treatments. This is rapidly driving the growth of the global oncolytic virus cancer immunotherapy market.
Meanwhile, the efficacy of the oncolytic virus cancer immunotherapy is still not proven in couple of countries and this is likely to dent the growth of the global oncolytic virus cancer immunotherapy market. On the other hand, the global oncolytic virus cancer immunotherapy market is forecasted to witness humungous growth over the period of forecast. The need for newer ways of treatment is rising and this will drive the growth of this market in near future.
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Global Oncolytic Virus Cancer Immunotherapy Market Findings:
- In terms of revenue, the global oncolytic virus cancer immunotherapy market was valued US$ 99.8 Mn by 2021 and is growing at an estimated CAGR of 13.7% over the forecast period.
- Number of people suffering from chronic diseases like cancer are on a rise owing to various factors.
- Traditional ways of treating cancer like chemotherapy and radiation burn a hole in pocket and are not affordable for all, which creates demand for new therapies like the oncolytic virus cancer immunotherapy.
- Pre-clinical phase segment accounts for maximum amount of revenue for this market, as several medical research companies are still trying to determine efficacy of this therapy.
- The region of Asia Pacific is forecasted to witness massive growth for the global oncolytic virus cancer immunotherapy market, that too at a faster pace. The number of cancer patients is rapidly going upwards in countries like India and China.
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Some of the major players operating in the global oncolytic virus cancer immunotherapy market are listed below:
- Astra Zeneca
- Daiichi Sankyo Company
- Genelux Corporation
- Lokon Pharma AB
- Merck & Co. (Viralytics)
- Oncolytics Biotech, Inc.
- PFIZER with WESTERN ONCOLYTICS
- Psivac Ltd.
- TNK Therapeutics, Inc (Virttu Biologics)
- Transgene/ Sillajen
- Wellstat Biologics
- Other Market Participants
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Global Oncolytic Virus Cancer Immunotherapy Market
By Virus Type
- Herpes Simplex Virus
- Maraba Virus
- Newcastle Disease Virus
- Vaccinia Virus
- Vesicular Stomatitis Virus
- Coxsackie Virus
By Clinical Trial Phases
- Pre-Clinical Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Immunotherapy Type
- Immune Checkpoint Inhibitors
- T-cell Transfer Therapy
- Monoclonal Antibodies
- Treatment Vaccines
- Immune System Modulators
- Combination Types
By Antitumor Modes of Action for OVs
- Transgene expression
- Vascular Collapse
- Antitumor Immunity
- Intratumoral Dose
By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Head and Neck Cancer
- Ovarian Cancer
- Pancreatic Cancer
- Appendiceal Cancer
By End Users
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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