Global Oncolytic Virus Therapy Market
Global oncolytic virus therapy market report gives a broad outlook on oncolytic virus therapy with particular emphasis on main regions across the globe such as North America, Europe, Asia Pacific and South America, Middle East and Africa. The study on global oncolytic virus Therapy Market offers historical, current and future market sizes (US$ Mn) on the basis of application, type, end user, and geography. This study analyses the global market dynamics of oncolytic virus therapy in a detailed manner to identify current trends & drivers, growth opportunities and potential challenges for the main market stakeholders. In addition, the global market report on oncolytic virus therapy covers human demographics, regulatory scenario, and competition analysis with the competition dashboard being vividly demonstrated for assessing market competition.
Global Oncolytic Virus Therapy Market:
In 2019, the oncolytic virus therapy market was estimated at US$ 103.18 million and is projected to rise by 25.09% from 2020-2026 to cross US$ 514.26 million by 2026. In 2015, cancer was responsible for 8.8 million deaths in that year, according to the WHO. Market growth is also powered by technological advances such as natural killer cells and the use of combination therapies. Further production of viral therapies globally, which are in the pipeline, would further accelerate the growth of the market for oncolytic virus therapy. The industry’s difficulties in developing safe and efficient therapies are likely to obstruct market growth over the forecast period.
Factors responsible for growth of global market:
The increasing use of target therapy over conventional therapy, the advent of biosimilars, the demand for mAbs, increased cancer prevalence are factors driving the market for oncolytic virus therapy. In addition, the increasing acceptance of advanced therapeutic options for cancer coupled with rising incidence of cancer, R&D activities in cancer treatments are positively anticipated to boost the global oncolytic virus therapy market. In addition, the difficulties faced in developing safe and effective therapies along with the restricted availability of drugs are the possible restraining factors that hamper the overall growth of the market for oncolytic virus therapy.
North America and Europe has dominant market share in oncolytic virus therapy market:
North America and Europe are expected to account for the largest market share due to the fast acceptance of new potential treatments, high health care R&D spending and the launch of technologically advanced services in the region. The Asia Pacific market is projected to expand at a high CAGR due to the adoption of innovative treatment options that are growing in developing regions, thereby providing the global market with growth opportunities. Countries like India and China is also expected to grow with XX% CAGR due to availability of better care facilities at comparatively lower costs than the Western countries.
Key players in the global market include:
- Oncolytics Biotech
- Transgene SA
- Oncolys BioPharma
- Sorrento Therapeutics
- Lokon Pharma
- SillaJen Biotherapeutics
- In February 2019, Mustang Bio and National Children’s Hospital signed an exclusive worldwide license agreement to produce an oncolytic virus (c134) for treating Glioblastoma Multiforme.
- In February 2019, Cytonus Therapeutics Inc. revealed that it has created Cargocytes a first-of-its-kind, controllable, cell-based biologic delivery platform technology.
- In February 2019, Oncolytics Biotech Inc. is currently developing pelareorep, announced that it has been given final approval by the Spanish Department for Medicine and Health Products for the upcoming AWARE-1 breast cancer opportunities research.
Key findings of report:
- Global oncolytic virus therapy market expanding at significant CAGR over 2020 to 2026 owing to the acceptance of advanced therapeutic cancer options coupled with the cancer incidence.
- North America accounted for larger share of market revenue in 2019 based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Lung cancer
- Breast cancer
- Monoclonal antibodies
- Cancer vaccines
- Checkpoint inhibitors
- Specialty Clinics
- Cancer research institutes
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of Argentina
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA