by Oncolytic Virus Immunotherapy Spearheads Developments in Modern Oncology
Due to advancements in medical science and technology, at present, immunotherapy is at the helm of modern oncology care due to which, the deployment of oncolytic virus immunotherapy has witnessed consistent growth. A spectrum of immunotherapies that primarily target three major layers of tumor biology, including immune system, niche, and tumor has gained considerable traction due to promising end-results. Oncolytic virus immunotherapy is an emerging primary as well as salvage therapy around the world and as per current observations, the trend is likely to continue during the forecast period.
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Over the past couple of decades, the development of anti-cancer treatment therapies has largely been focused on delivering customized therapy to cellular targets. The promising outcomes during the early stage clinical trials with oncolytic virus immunotherapy are another factor expected to play an imperative role in boosting the overall growth of the oncolytic virus immunotherapy market in the upcoming decade. Research and development activities, increasing collaborations between research institutes and medical colleges, and rising number of cancer patients around the world are some of the primary factors that are expected to drive the global oncolytic virus immunotherapy market during the assessment period.
At the back of these factors, the global oncolytic virus immunotherapy market is expected to cross a market value of ~US$ 2.3 Bn by the end of 2030.
FDA Approval Key to Boost Market Growth
While research and development activities are likely to shift gears during the course of the forecast period, approval from the FDA for various oncolytic virus immunotherapies is projected to drive the oncolytic virus immunotherapy market. In the current scenario, a number of oncolytic viruses are in the pre-clinical and the clinical development stage. In addition, current findings of research indicate that the therapeutic potential of oncolyitc viruses extend beyond melanomas. Over the past decade, oncolytic virus immunotherapy has garnered immense popularity as a novel development in the field of cancer therapies and the trend is set to continue during the forecast period. In addition, oncolytic virus immunotherapy address the underlying challenges associated with traditional therapies, including radiotherapy and chemotherapy due to which, the demand for oncolytic virus immunotherapy has increased worldwide. Oncolytic viruses are likely to influence oncologic care as therapeutic adjuvant– another factor that is projected to propel the demand for oncolytic virus immunotherapy during the forecast period. Moreover, oncolytic virus immunotherapies are likely to address the primary issue of acquired and primary immunotherapeutic resistance.
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.
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Demand to Remain Steady amid COVID-19 Pandemic
The advent of the COVID-19 pandemic is expected to have insignificant impact on the overall growth prospects of the global oncolytic virus immunotherapy market. Research and development activities continue to gain notable traction as researchers continue to explore the possibilities of using oncolytic virus immunotherapy tools to curb the transmission of COVID-19 infection. The COVID-19 pandemic has resulted in a dire need for the development of an effective vaccine against the novel coronavirus due to which, research activities are on the rise.
Analysts’ Viewpoint
The global oncolytic virus immunotherapy market is expected to expand at a staggering CAGR of ~32% during the forecast period. 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. At present, market players should focus on exploring the potential benefits of using oncolytic virus immunotherapy tools to contain the spread of the novel coronavirus.
Oncolytic Virus Immunotherapy Market: Overview
The global oncolytic virus immunotherapy market for the historical period 2018–2019 and forecast period 2020–20230, promising pipeline is projected to drive the global oncolytic virus immunotherapy market
Oncolytic viruses are a form of immunotherapy, which uses viruses to infect and destroy cancer cells. Oncolytic viruses are genetically modified to target specific types of cancer cells. These replicate within the cancer cell via a tumor-specific promoter element that is incorporated into the viral genome or in deletions in key portions of the viral genome.
Rise in Prevalence of Cancer to Drive Oncolytic Virus Immunotherapy Market
Change in lifestyle and dietary habits are risk factors for cancer. Moreover, environmental factors such as asbestos fibers, polynuclear hydrocarbons, metal compounds, and plastic chemicals cause cancer. Hence, increase in burden due to abovementioned factors, population growth, and the changing prevalence of certain causes of cancer linked to social and economic development are expected to boost the growth of the global oncolytic virus immunotherapy market. According to the World Health Organization, in 2018, an estimated 18.1 million new cases of cancer and 9.6 million deaths were reported across the globe.
Focus on Research & Development Propels Oncolytic Virus Immunotherapy Market
Rise in prevalence of cancer leads to increase in demand for newer therapeutics. Hence, key players operating in market are engaged in developing new products and focus on research & development to introduce new products with advanced technologies. For instance, Oncolys BioPharma, Inc. announced the phase 1 study for Telomelysin (OBP-301) of hepatocellular carcinoma (HCC) in South Korea and Taiwan in 2020.
The development of oncolytic viruses as cancer treatment is moving rapidly. A wide array of viruses are being developed for some of the toughest cancers. This is likely to fuel the growth of the global market.
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.
Oncolytic Virus Immunotherapy Market: Competition Landscape
This report profiles major players operating in the global oncolytic virus immunotherapy market based on various attributes and recent developments
The global oncolytic virus immunotherapy market is highly fragmented, with the presence of a number of global as well as regional players
Leading players operating 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.
- SillaJen, Inc.
Key Questions Answered in Oncolytic Virus Immunotherapy Market Report
- What is the scope of growth for product companies in the global oncolytic virus immunotherapy market?
- What will be the Y-o-Y growth of the global oncolytic virus immunotherapy market between 2020 and 2030?
- What is the influence of changing trends in technologies on the global oncolytic virus immunotherapy market?
- Will North America continue to be the most profitable market for oncolytic virus immunotherapy?
- Which factors are anticipated to hamper the global oncolytic virus immunotherapy market during the forecast period?
- Which are the leading companies in the global oncolytic virus immunotherapy market?
Oncolytic Virus Immunotherapy Market – Segmentation
Type
- Herpes Simplex Virus
- Vaccinia Virus
- Adenovirus
- Reovirus
- Others
Route of Administration
- Intratumoral
- Intravenous
Application
- Melanoma
- Non-small Cell Lung Cancer (NSCLC)
- Pancreatic Cancer
- Breast Cancer
- Others
Region
- North America
- Europe
- APAC
- Rest of the World
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