Oncolytic Virus Immunotherapy Market

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.

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.

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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.

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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.