The oncolytic virus immunotherapy market reached value at US$ 108 Million in 2020 and predicted to hit US$ 2.4 billion by 2030 with expanding CAGR of 32% from 2021 to 2030. The market growth can be primarily attributed to rising prevalence of cancer worldwide, research and development activities, technological advancements, and increasing collaborations between market players and research institutes.
Oncolytic immunotherapy is a research area of cancer immunotherapy investigating the use of modified viruses to target cancer cells. Currently, a range of genetic modifications is being investigated for the treatment of cancer. It is a novel approach to anticancer therapy; however, the potential of viruses to induce an antitumor immune response has been known for some time.
The global oncolytic virus immunotherapy market is expanding, owing to increase in adoption of newer therapies. This is fueling demand for advanced products. It also represents new business development opportunities. Adenoviruses, herpes viruses, measles viruses, coxsackie viruses, polioviruses, reoviruses, poxviruses, and Newcastle disease viruses are some oncolytic viruses under preclinical and clinical development for cancer therapy.
Focus on Spreading Awareness about Cancer to Drive Oncolytic Virus Immunotherapy Market
The increase in cancer incidence across the globe is a major factor driving the demand for cancer treatment among patients. The burden of cancer prevalence is anticipated to lead to initiatives by governments and companies to spread awareness about rapid diagnosis and treatment of different cancer types. GI Cancers Alliance is an organization that engages in boosting awareness & screening, access to quality medical treatments, and helping member organizations collaborate, innovate, and leverage the full potential of effectuating change for cancer patients.
Limitations of Oncolytic Virus Therapy to Hamper Oncolytic Virus Immunotherapy Market
A number of oncolytic viruses are currently under clinical development. Each oncolytic virus carries the characteristics of the parental wild type virus, not only the advantages, but also the disadvantages. One major concern of oncolytic virus therapy has been that the efficacy may be diminished by the presence of circulating antibodies. Moreover, relative poor intratumoral penetration by the oncolytic viruses, which were modified to have a reduced replicative potential, is one of the major limitations of oncolytic virus. This hampers the growth of market.
Research and Development Activities Likely to Gain Considerable Traction
The oncolytic virus immunotherapy is anticipated to revolutionize the future of cancer treatment. A number of oncolytic virus immunotherapies are in the development phase and likely to hit the oncolytic virus immunotherapy market over the course of the forecast period. Translational and clinical efforts that leverage the findings of research and development activities to curate effective oncolytic virus immunotherapies for cancer patients have gained worldwide popularity in the past few years– a factor that is expected to propel market growth during the assessment period. A number of oncolytic virus platforms are being evaluated in clinical trials, including Adenovirus, Piconavirus, Maraba virus, Reovirus, and Vaccinia virus, among others. While the evaluation of these oncolytic virus platforms continues, the development of new platforms and approaches continues to take shape and offer promise due to which, the prospects of the global oncolytic virus immunotherapy market look bright in the upcoming years. Researchers are also exploring the potential of effective combination immunotherapy by utilizing oncolytic viruses to accurately delivery of chimeric antigen receptor (CAR) targets to solid tumor.
In terms of type, the global oncolytic virus immunotherapy market has been classified into herpes simplex virus (HSV), vaccinia virus, adenovirus, reovirus, and others. Adenovirus is the most promising agent used in gene-targeted oncolytic virus therapy (GTOVT) due to several good characteristics. Adenovirus is able to infect and kill cancer cells with no harm to normal cells. Moreover, the anti-cancer immune response elicited by the oncolytic adenovirus expands its anti-cancer efficacy, including the metastasis side. This, in turn, increases the use of adenovirus in oncolytic therapy, which drives the segment.
Based on route of administration, the global oncolytic virus immunotherapy market has been bifurcated into intratumoral and intravenous. The intratumoral segment is driven by increase in use of intratumoral route of administration. Advantages of intratumoral route such as maintenance of the concentration of oncolytic virus at the target site is anticipated to fuel the growth of the segment.
In terms of application, the global oncolytic virus immunotherapy market has been divided into melanoma, non-small cell lung cancer (NSCLC), pancreatic cancer, breast cancer, and others. The others segment is driven by rise in prevalence and incidence of ovarian cancer and head & neck squamous cell carcinoma. The non-small cell lung cancer (NSCLC) segment accounted for a significant share of the market in 2020. The segment is likely to grow at rapid pace during the forecast period. NSCLC is the most common type of lung cancer, accounting for 80% to 85% of lung cancer diagnoses. The exposure to hazardous material, smoking, air pollution, family history of lung cancer, etc. are risk factors associated with NSCLC.
North America dominated the global oncolytic virus immunotherapy market in 2020. The trend is anticipated to continue during the forecast period. Strategies adopted by key players, such as product approval & launch and mergers & acquisitions, well-established healthcare infrastructure, and early adoption of advanced therapeutics drive the oncolytic virus immunotherapy market in the region. Moreover, the availability of IMLYGIC in the U.S. is expected to boost the growth of market in North America.
Asia Pacific accounted for a significant share of the global oncolytic virus immunotherapy market in 2020. The market in the region is likely to expand at a moderate CAGR during the forecast period. Government initiatives in modernization of healthcare infrastructure in developing countries and rise in awareness about advanced therapeutics are key factors projected to propel the oncolytic virus immunotherapy market in Asia Pacific.
The global oncolytic virus immunotherapy market is fragmented in terms of number of players. Key players in the global oncolytic virus immunotherapy market include Amgen, Inc., Merck & Co., Inc. (Viralytics Limited), Shanghai Sunway Biotech Co., Ltd., TILT Biotherapeutics, Oncorus, Inc., Replimune Group, Inc., Oncolys BioPharma, Inc., Sorrento Therapeutics, Inc., Oncolytics Biotech, Inc., and SillaJen, Inc.
By Route of Administration
This report focuses on oncolytic virus immunotherapy market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall oncolytic virus immunotherapy market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global oncolytic virus immunotherapy market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global oncolytic virus immunotherapy market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the oncolytic virus immunotherapy market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of oncolytic virus immunotherapy are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global oncolytic virus immunotherapy market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global oncolytic virus immunotherapy market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global oncolytic virus immunotherapy market.
The study objectives of this report are:
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