Global Oncolytic Virus Immunotherapy Market Overview
The key drivers impacting the oncolytic virus immunotherapy market are the increasing prevalence of cancer cases across the globe. For instance, According to the International Agency for Research on Cancer (IARC) report estimations, there were aa 17.0 million new cancer cases and 9.5 million cancer deaths globally in 2018. By 2040, the global burden is estimated to expand to 27.5 million new cancer cases and about 16.3 million cancer deaths. Also, governments of developed and developing nations are conducting considerable awareness campaigns and programs to persuade people to go for early cancer diagnosis, which in turn are expected to raise the adoption of newer therapies. This is raising the demand for advanced products, thus positively impact market growth. Moreover, the governments in various developing countries have been taking initiatives to spread awareness regarding different causes of cancer that contribute to oncolytic virus immunotherapy market demand in the later years.
According to Value Market Research, the global Oncolytic virus immunotherapy market size was valued at about USD 0.14 billion in 2020 and is estimated to grow at a CAGR of around 32.5% during the forecast period 2021 to 2027.
The increasing number of clinical studies in oncolytic virus and growing approval from the FDA for various oncolytic virus immunotherapies will likely augment the demand for oncolytic virus immunotherapy software in the forecast period. There is an availability of oncolytic virus immunotherapy drugs for melanoma therapeutics, and a definitive pipeline for breast cancer is driving the market growth. However, diminishing efficacy by the presence of circulating antibodies hampers the market in the long run. In addition, poor intratumoral penetration by the oncolytic viruses impedes market growth. Nevertheless, the market trends, such as the rise in the number of clinical trials and enhancement in research funding, might provide considerable opportunities to the market's leading players.
The oncolytic virus immunotherapy market is widespread, with many local and international players. The market leaders follow diverse strategies such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to strengthen their market share globally. The key players in the report are Amgen, Inc., Shanghai Sunway Biotech Co., Ltd., Oncorus, Inc., Sorrento Therapeutics, Inc., SillaJen, Inc., Replimune Group, Inc., Merck & Co., Inc. (Viralytics Limited), Oncolys BioPharma, Inc., and Oncolytics Biotech, Inc.
In this research report, the oncolytic virus immunotherapy market is segmented by type, route of administration, application, and region.
Analysis by Type:
By type, the report is segmented into the herpes simplex virus, vaccinia virus, adenovirus, reovirus, and others. The adenovirus segment dominates with the highest market share in 2020. Adenovirus can infect and kill cancer cells without any harm to normal cells, and it is the most capable agent utilized in gene-targeted oncolytic virus therapy (GTOVT) due to various good characteristics. Moreover, the anti-cancer immune response extracted by the oncolytic adenovirus can expand its anti-cancer efficacy, including the metastasis side, which in turn contributes to the growth of the loaded cargo segment in the forecast period.
Analysis by Route of Administration:
By route of administration, the report is divided into intratumoral and intravenous. The intratumoral segment dominates with a significant market share in 2020. It is due to the rise in the use of the intratumoral route of administration. Moreover, the benefits of the intratumoral route, such as maintenance and concentration of oncolytic virus at the target site, are adding growth to the market.
Analysis by Application:
By application, the report is divided into melanoma, non-small cell lung cancer (NSCLC), pancreatic cancer, breast cancer, and others(ovarian cancer and head & neck squamous cell carcinoma). The non-small cell lung cancer (NSCLC) segment dominates with a significant market share in 2020. It is due to the NSCLC is the most common type of lung cancer, as it accounts for the majority of lung cancer diagnoses. Exposure to smoking, hazardous material, air pollution, family history of lung cancer, etc., is certain risk factors associated with NSCLC. The other segment, which includes ovarian cancer and head & neck squamous cell carcinoma, is likely to grow at a considerable rate owing to an increase in occurrence and ovarian cancer and head & neck squamous cell carcinoma incidence across the globe.
Analysis by Region:
In the regional outlook of the global oncolytic virus immunotherapy market, the North America region dominates with the largest market share in 2020. It is due to the growing prevalence of cancer cases, particularly melanoma cancer in Canada and the U.S. Moreover, the presence of key players, high adoption of advanced therapeutics, and growing focus on research & development in the U.S. contribute to the huge market growth across North America.
Market Segmentation covered in the Report:
By Type
- Herpes Simplex Virus
- Vaccinia Virus
- Adenovirus
- Reovirus
- Others
By Route of Administration
By Application
- Melanoma
- Non-small Cell Lung Cancer (NSCLC)
- Pancreatic Cancer
- Breast Cancer
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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