Oncolytic Virus Therapies Market to Reach US$ 492.6 Million by 2028

IMARC Group, a leading market research company, has recently releases report titled “Oncolytic Virus Therapies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global oncolytic virus therapies market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of Oncolytic Virus Therapies Market

Oncolytic virus therapies are a type of immunotherapy that utilizes viruses to infect and destroy cancer cells. These therapies employ various natural and genetically modified viruses, such as herpes simplex, vaccinia, adenovirus, reovirus, and picornavirus. By infecting tumor cells, oncolytic viruses trigger danger signals that stimulate an immune response and effectively target solid tumors, melanoma, and unresectable lesions. They selectively destroy cancer cells while sparing healthy cells, making them less toxic compared to traditional chemotherapy treatments. Oncolytic virus therapies have shown significant efficacy and have the potential to extend the survival of cancer patients. As a result, they are widely utilized in hospitals, clinics, and cancer research institutes.

How Big Is the Oncolytic Virus Therapies Market?

The global oncolytic virus therapies market size reached US$ 130.4 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 492.6 Million by 2028 exhibiting a CAGR of 20.90% during 2023-2028.

Oncolytic Virus Therapies Market Trends and Drivers:

The oncolytic virus therapies market is primarily driven by the widespread adoption of these therapies in the treatment of various cancers, including glioblastoma, breast, lung, and prostate cancers. These therapies possess potent anti-tumor properties and can accurately target tumors while minimizing harm to surrounding tissues. Additionally, there is a growing demand for oncolytic virus therapies in the treatment of melanomas and hematological malignancies, including lymphoma, leukemia, and myeloma. The market is further bolstered by increasing patient concerns regarding the negative effects of traditional cancer treatments such as surgery, radiotherapy, chemotherapy, and immunotherapy. Oncolytic virus therapies offer a promising alternative with potentially fewer side effects. Furthermore, the ongoing clinical studies on oncolytic viruses, such as herpesvirus, adenovirus, and vaccinia, have shown promising results, further driving market growth. The demand for advanced treatments and novel therapeutics, coupled with government initiatives aimed at raising awareness about cancer causes and promoting early diagnosis, is expected to fuel the oncolytic virus therapies market.

Global Oncolytic Virus Therapies Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: Amgen Inc., Dnatrix Inc., Genelux Corporation, Lokon Pharma AB, Replimune Group Inc., Rigvir Ltd., Sorrento Therapeutics, Takara Bio Inc. (Takara Holdings Inc.), Targovax, TILT Biotherapeutics Ltd, Transgene SA and Vyriad.

The report segmented the market based on region, digital channel and end-use industry.

Breakup by Virus Type:

Genetically Engineered Oncolytic Viruses
- Herpes Simplex Virus
- Adenovirus
- Vaccinia Virus
Oncolytic Wild-Type Viruses
- Reovirus
- Newcastle Disease Virus
- Vesicular Stomatitis Virus

Breakup by Application:

Solid Tumors
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Glioblastoma
Melanoma
- Hematological Malignancies
- Lymphoma
- Leukemia
- Myeloma

Breakup by End Use:

Hospitals
Specialty Clinics
Cancer Research Institute

Breakup by Region:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa