Emergen Research latest document, titled ‘Global Oncolytic Virus Therapies Market - Forecast to 2027,’ is one of the most sought-after market reports involving an in-depth analysis of the global Oncolytic Virus Therapies market. The report’s authors have offered necessary details on the latest Oncolytic Virus Therapies market trends and the crucial parameters impacting both short-term and long-term market growth.
Oncolytic virus is a virus which infects and kills cancer cells and as these cancer cells are destroyed by oncolysis, they release new infectious particles which destroy remaining tumor. Cancer mortality rate is 158.3 per 100,000 people per year. Estimated national expense for cancer in the U.S. was USD 150.8 billion in 2018. This cost is likely to increase as population ages and need for development of new effective therapies will fuel oncolytic virus therapies market growth.
Breast cancer is among the second most diagnosed cancer across the globe and current treatments are insufficient to cure metastatic breast cancer often associated with severe side effects which destroys patient’s quality of life. Oncolytic virus therapies has emerged as a relevant tool to target different kinds of cancer such as breast cancer. For instance, Pelareorep is an unmodified and intravenously delivered oncolytic virus which primes an immune response among patients with breast cancer.
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Various awareness campaigns are being conducted to encourage people to opt for early diagnosis which will increase the patient pool of oncolytic virus therapy. However, there are some common side-effects of the therapy, which include chills, nausea, fatigue, fever, flu-like symptoms, and injection site pain. This hinders oncolytic virus therapies market revenue growth.
Some Key Highlights in the Report
In January 2021, Enara Bio and Boehringer Ingelheim announced a strategic collaboration and licensing agreement for RD of novel targeted cancer immunotherapy. The new collaboration combines Boehringer’s approach to treat cancer through pairing science with innovative platforms such as oncolytic virus and cancer vaccines, with Enara’s expertise in cancer antigen identification.
Rise in number of research institutes for development of effective therapies and drugs to treat and study cancer, particularly in developing countries, is driving the growth of cancer research institute segment. Increased investment by private and government sectors into these institutions is driving segment growth.
North America accounted for the largest revenue share in 2020. The U.S. is the primary contributor and is expected to witness high growth due to the large amount of funding by the private firms and government for clinical trials. Other factors driving the oncolytic virus therapies market are an increase in research and development initiatives to develop therapeutic options for chronic diseases, easy approval for clinical trials, and availability of highly sophisticated research infrastructure.
Key players in the market include Oncolytics Biotech, Inc., Amgen Inc., Sorrento Therapeutics, Inc., Transgene SA, Daiichi Sankyo Company, Limited, Shanghai Sunway Biotech Co., Ltd., Takara Bio Inc., PsiOxus Therapeutics, SillaJen, Inc., and ViroCure.
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Emergen Research has segmented the global oncolytic virus therapies market on the basis of virus type, application, end-use, and region:
Virus Type Outlook (Revenue, USD Million; 2018–2028)
Genetically Engineered Oncolytic Viruses
Herpes Simplex Virus
Adenovirus
Vaccinia Virus
Oncolytic Wild-Type Viruses
Reovirus
Newcastle Disease Virus
Vesicular Stomatitis Virus
Application Outlook (Revenue, USD Million; 2018–2028)
Solid Tumors
Breast Cancer
Prostate Cancer
Lung Cancer
Glioblastoma
Melanoma
Hematological Malignancies
Lymphoma
Leukemia
Myeloma
End-use Outlook (Revenue, USD Million; 2018–2028)
Hospitals
Specialty Clinics
Cancer Research Institute
Key Questions Answered in the Report:
What is the growth rate of the Oncolytic Virus Therapies market? What is the anticipated market valuation of Oncolytic Virus Therapies industry by 2027?
What are the key growth driving and restraining factors of the Oncolytic Virus Therapies market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Oncolytic Virus Therapies industry over the forecast period?
Which region is expected to show significant growth in the coming years?
Read More: https://www.emergenresearch.com/industry-report/oncolytic-virus-therapies-market
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