Global Oncolytic Virus Immunotherapy Market: Introduction
According to the report,
the global oncolytic virus immunotherapy market was valued at
US$ 108.6 Mn in 2019
and is projected to expand at a CAGR of ~32% from 2020
to 2030. Oncolytic immunotherapy is a research area of cancer immunotherapy
investigating the use of modified viruses to target cancer cells. Currently, a
range of genetic modifications is being investigated for the treatment of
cancer. It is a novel approach to anticancer therapy; however, the potential of
viruses to induce an antitumor immune response has been known for some time.
The global oncolytic
virus immunotherapy market is expanding, owing to increase in adoption of newer
therapies. This is fueling demand for advanced products. It also represents new
business development opportunities. Adenoviruses, herpes viruses, measles
viruses, coxsackie viruses, polioviruses, reoviruses, poxviruses, and Newcastle
disease viruses are some oncolytic viruses under preclinical and clinical
development for cancer therapy.
North America dominated
the global oncolytic virus immunotherapy market in 2019. The trend is
anticipated to continue during the forecast period. Strategies adopted by key
players, such as product approval & launch and mergers & acquisitions,
well-established healthcare infrastructure, and early adoption of advanced
therapeutics drive the oncolytic virus immunotherapy market in the region.
Moreover, the availability of IMLYGIC in the U.S. is expected to boost the
growth of market in North America.
Asia Pacific accounted
for a significant share of the global oncolytic virus immunotherapy market in
2019. The market in the region is likely to expand at a moderate CAGR during
the forecast period. Government initiatives in modernization of healthcare
infrastructure in developing countries and rise in awareness about advanced
therapeutics are key factors projected to propel the oncolytic virus
immunotherapy market in Asia Pacific.
Focus on Spreading Awareness about Cancer to Drive Oncolytic Virus
Immunotherapy Market
The increase in cancer
incidence across the globe is a major factor driving the demand for cancer
treatment among patients. The burden of cancer prevalence is anticipated to
lead to initiatives by governments and companies to spread awareness about
rapid diagnosis and treatment of different cancer types. GI Cancers Alliance is
an organization that engages in boosting awareness & screening, access to
quality medical treatments, and helping member organizations collaborate,
innovate, and leverage the full potential of effectuating change for cancer
patients.
Adenovirus Type to Dominate Oncolytic Virus Immunotherapy Market
In terms of type, the
global oncolytic virus immunotherapy market has been classified into herpes
simplex virus (HSV), vaccinia virus, adenovirus, reovirus, and others.
Adenovirus is the most promising agent used in gene-targeted oncolytic virus
therapy (GTOVT) due to several good characteristics. Adenovirus is able to
infect and kill cancer cells with no harm to normal cells. Moreover, the
anti-cancer immune response elicited by the oncolytic adenovirus expands its
anti-cancer efficacy, including the metastasis side. This, in turn, increases
the use of adenovirus in oncolytic therapy, which drives the segment.
Intratumoral to be Preferred Route of Administration
Based on route of
administration, the global oncolytic virus immunotherapy market has been
bifurcated into intratumoral and intravenous. The intratumoral segment is
driven by increase in use of intratumoral route of administration. Advantages
of intratumoral route such as maintenance of the concentration of oncolytic
virus at the target site is anticipated to fuel the growth of the segment.
Non-small Cell Lung Cancer (NSCLC) to Witness Significant Demand for
Oncolytic Virus Immunotherapy
In terms of application,
the global oncolytic virus immunotherapy market has been divided into melanoma,
non-small cell lung cancer (NSCLC), pancreatic cancer, breast cancer, and
others. The others segment is driven by rise in prevalence and incidence of
ovarian cancer and head & neck squamous cell carcinoma. The non-small cell
lung cancer (NSCLC) segment accounted for a significant share of the market in
2019. The segment is likely to grow at rapid pace during the forecast period.
NSCLC is the most common type of lung cancer, accounting for 80% to 85% of lung
cancer diagnoses. The exposure to hazardous material, smoking, air pollution,
family history of lung cancer, etc. are risk factors associated with NSCLC.
North America to Dominate Oncolytic Virus Immunotherapy Market
In terms of region, the
global oncolytic virus immunotherapy market has been divided into North
America, Europe, Asia Pacific, and Rest of the World. North America dominated
the global oncolytic virus immunotherapy market in 2019, followed by Europe.
North America accounted for a major share of the global oncolytic virus
immunotherapy market in 2019. Presence of key players, adoption of advanced
therapeutics, and focus on research & development are the key factors
anticipated to drive the oncolytic virus immunotherapy market in the region.
The oncolytic virus
immunotherapy market in Asia Pacific is expected to expand at a moderate CAGR
during the forecast period. Strategies adopted by key players to address unmet
needs of cancer treatment in developing regions are likely to boost the growth
of the market in the region. For instance, TILT Biotherapeutics signed a
license agreement with Biotheus, Inc. for cancer therapy with Oncolytic Virus
TILT-123. Under the terms of the agreement, TILT granted Biotheus the rights to
develop and commercialize TILT’s proprietary oncolytic virus TILT-123 in
Greater China in January 2020
Competition Landscape
The global oncolytic
virus immunotherapy market is fragmented in terms of number of players. Key
players 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.,
and SillaJen, Inc.
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