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Report ID: HC0037
Pages: 190
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
MARKET SCOPE:
The global Oncolytic Virus Immunotherapy market is projected to grow significantly, registering a CAGR of 12.6% during the forecast period (2024 – 2032).
Oncolytic virus immunotherapy represents a form of cancer treatment that harnesses the power of viruses to selectively target and eliminate cancer cells. In contrast to conventional chemotherapy or radiation therapy, which can impact both healthy and cancerous cells throughout the body, oncolytic viruses are specifically engineered to replicate within and destroy cancer cells while sparing normal, healthy cells. The fundamental concept behind oncolytic virus immunotherapy involves the utilization of viruses that have been modified to infect and replicate selectively within cancer cells. These modified viruses can exert their effects by directly lysing (destroying) cancer cells or by triggering the immune system to recognize and attack cancer cells. Furthermore, the viral replication within cancer cells can result in the release of tumor-associated antigens, prompting an immune response against the cancer.
To enhance safety and specificity for cancer cells, the oncolytic viruses employed in this therapy are often engineered. Modifications can be made to enable these viruses to preferentially replicate in cancer cells with specific genetic mutations or alterations characteristic of tumor cells. While some oncolytic viruses are naturally occurring, others are genetically modified versions of existing viruses. Various oncolytic viruses, such as herpes simplex virus, adenovirus, vaccinia virus, and others, have been extensively studied and developed for clinical applications. Oncolytic virus immunotherapy is regarded as a promising approach in the realm of cancer treatment, with ongoing investigations in diverse clinical trials targeting different types of cancers.
MARKET OVERVIEW:
Driver: FDA approval is driving the market growth.
While the trajectory of research and development activities is expected to evolve during the forecast period, approvals from the FDA for various oncolytic virus immunotherapies are anticipated to propel the oncolytic virus immunotherapy market. Currently, numerous oncolytic viruses are progressing through pre-clinical and clinical development stages. Moreover, recent research findings suggest that the therapeutic potential of oncolytic viruses extends beyond melanomas. Over the last decade, oncolytic virus immunotherapy has gained significant traction as a groundbreaking advancement in cancer therapies, and this trend is poised to persist in the forecast period. Additionally, oncolytic virus immunotherapy addresses inherent challenges associated with traditional therapies such as radiotherapy and chemotherapy, contributing to the global surge in demand. Oncolytic viruses are expected to play a transformative role in oncologic care as therapeutic adjuncts, further fueling the demand for oncolytic virus immunotherapy. Furthermore, oncolytic virus immunotherapies are positioned to tackle the critical issue of acquired and primary immunotherapeutic resistance.
Opportunities: The rising number of clinical studies in oncolytic virus is expected to pave the way for market growth in the upcoming years.
The increasing volume of clinical studies in oncolytic virus therapies and the growing approvals from the FDA for various oncolytic virus immunotherapies are expected to boost the demand for oncolytic virus immunotherapy software in the forecast period. The market is witnessing growth driven by the availability of oncolytic virus immunotherapy drugs for melanoma therapeutics, along with a well-defined pipeline for breast cancer. However, long-term market prospects are hindered by diminishing efficacy due to the presence of circulating antibodies. Additionally, poor intratumoral penetration by oncolytic viruses poses a challenge to market growth. Nevertheless, emerging market trends, including a rise in the number of clinical trials and increased research funding, may present significant opportunities for leading players in the market.
COVID IMPACT:
The onset of the COVID-19 pandemic is anticipated to exert minimal impact on the overall growth trajectory of the global oncolytic virus immunotherapy market. Research and development endeavors persistently attract significant attention as investigators explore the potential utilization of oncolytic virus immunotherapy tools to mitigate the spread of COVID-19 infection. The urgent necessity for developing an efficacious vaccine against the novel coronavirus has heightened research activities. Consequently, the COVID-19 pandemic has spurred increased efforts towards the exploration of oncolytic virus immunotherapy in the context of addressing the challenges posed by the virus.
SEGMENTATION ANALYSIS:
The Adenovirus is anticipated to grow significantly during the forecast period.
Adenovirus exhibits the ability to infect and eliminate cancer cells without causing harm to normal cells, making it the most effective agent in gene-targeted oncolytic virus therapy (GTOVT) due to its favorable characteristics. Furthermore, the oncolytic adenovirus elicits an anti-cancer immune response, enhancing its anti-cancer effectiveness, even in addressing metastatic aspects. This, in turn, is anticipated to drive the growth of the loaded cargo segment in the forecast period.
The Non-small Cell Lung Cancer (NSCLC) is anticipated to grow significantly during the forecast period.
This segment is attributed to the fact that NSCLC is the predominant form of lung cancer, constituting the majority of lung cancer diagnoses. Various risk factors such as exposure to smoking, hazardous materials, air pollution, and a family history of lung cancer contribute to the prevalence of NSCLC. The other segment, encompassing ovarian cancer and head & neck squamous cell carcinoma, is expected to experience significant growth due to the rising incidence of ovarian cancer and head & neck squamous cell carcinoma worldwide.
REGIONAL ANALYSIS:
The North American region is set to witness significant growth during the forecast period.
The growth of the oncolytic virus immunotherapy market in North America is attributed to the increasing incidence of cancer cases in the region. Furthermore, the substantial presence of major manufacturers and vendors in the United States and Canada is expected to significantly contribute to the regional market’s success. Generous government funding for research activities focused on the development of novel therapies for cancer treatment and the creation of new drugs is anticipated to boost the size of the oncolytic virus immunotherapy market in North America. Evidently, the oncolytic virus immunotherapy industry is poised for substantial growth prospects in the sub-continent, driven by a significant proportion of sponsorships from cancer drug molecule manufacturers in the region.
COMPETITIVE ANALYSIS
The global Oncolytic Virus Immunotherapy market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Scope of the Report
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.