Global Oncolytic Virotherapy Market - 2022-2029

Market Overview

The global oncolytic virotherapy market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

Oncolytic viruses are the genetically engineered or naturally occurring viruses that selectively replicate in and kill cancer cells without harming the normal tissues. It mainly aims at modifying the genetic material for the treatment of the disease. Oncolytic virus therapy is a novel approach to treat, cure, or ultimately prevent disease by changing the expression of a person's genes.

Market Dynamics

The global oncolytic virotherapy market growth is driven by the rising research and development on cancer treatment using oncolytic virotherapy and the increasing prevalence of cancer are boosting the growth of oncolytic virotherapy market.

Rising research and development on cancer treatment using oncolytic virotherapy is expected to hold the largest share in this market segment

According to the data published by International Agency for Research on Cancer (IARC), in 2020, 19.3 million new cases and 10 million deaths from cancer were projected globally, respectively.

The market's expansion can be ascribed to the rising occurrence of rare cancers, the need to cure them, increased demand for better and more effective therapies, and an increase in the geriatric population. According to the World Health Organization (WHO) statistics, regions including Northern Africa and Western Asia, South America, the Caribbean, and Southeast Asia could face sharp increases of over 75% in the number of cancer deaths in 2020 compared to 2000.

The major factors expected to grow over the projected horizon are increasing awareness of oncolytic virus therapy and its benefits in treatments, advanced imaging technology, and rising adoption of cutting-edge cancer treatments. It has become a most promising therapy in cancer treatment in the new era. Many pharmaceutical companies are conducting various clinical trials of oncolytic viruses in combination with radiotherapy, immune checkpoint inhibitors, and chemotherapeutic agents, showing immense effects and progress in cancer treatments. In 2020, T-VEC, RIGVIR, and Oncorine oncolytic viral drugs were approved for cancer treatments having good therapeutic results.

Few side effects associated with the oncolytic virus are likely to hamper the market growth

Side effects may differ according to the type of oncolytic virus and its target site and may also be influenced by the location and type of cancer and a patient's overall health. Because of their potential to infect healthy cells and stimulate overall immune activity, sometimes oncolytic viruses may cause the immune system to attack healthy cells, and their use may carry some risk of infection. Some common side effects associated with the currently approved oncolytic virus may include chills, fatigue, flu-like symptoms, injection site pain, nausea, and fever.

COVID-19 Impact Analysis

The COVID-19 outbreak had a dramatic impact on the nation's health sector. The fastest rate of growth experienced in the healthcare expenditure in 2020. The unprecedented pandemic at the initial stage resulted in the shutting down of the healthcare industry globally which resulted in the large-scale disruptions in manufacturing, supply, and demand activities resulting in the cancellation of the orders and decline in exports. However, the precautionary measures taken by governments like social distancing and restrictions have severely disrupted the patient's treatments in hospitals. As per the statistics published by the Centers for Medicare and Medicaid Services (CMS), Federal government spending for health care grew 36.0% in 2020, significantly faster than the 5.9% growth in 2019. This faster growth was largely in response to the COVID-19 pandemic. The pandemic and emergence of variants continue to cause a concern and sudden and drastic downturn in the economic activity of the countries.

Segment Analysis

The adenoviruses-based oncolytic viruses' segment is expected to hold the largest share in this market segment

The Adenovirus-based Oncolytic Viruses segment held a huge market share and is expected to attain a significant market share in the forecast period. The growing usage demand due to their high accuracy in delivering the gene to the specific region has driven the market share in this segment.

Adenoviruses are double-stranded DNA viruses. They are considered excellent vectors due to their ability to induce innate and adaptive immune responses to deliver target antigens to the hosts.

The need for oncolytic virotherapy as a primary treatment is growing due to the increased prevalence of cancer. Many oncolytic viruses are being studied as a potential treatment for cancer in clinical trials. According to the American Cancer Society, 2021, breast and prostate cancer held the highest share, registering 281,550 and 248,530 cases.

Moreover, companies are also engaging in collaborations and agreements to increase their market share. For example, in August 2021, Calidi Biotherapeutics entered into an exclusive license agreement with the City of Hope and the University of Chicago for novel oncolytic virotherapy technology. The deal grants Calidi commercial exclusivity in using an oncolytic adenovirus (CRAd-pk-S-7) combined with a clinical-grade allogeneic neural stem cell line.

In January 2021, Theolytics, a European start-up, focuses on creating change in the oncolytic viral therapy field by using its phenotypic screening platform to discover and develop highly efficacious, targeted candidates suitable for intravenous delivery and optimized for a chosen cancer patient population.

Geographical Analysis

North America region holds the largest market share of global oncolytic virotherapy market

North America is expected to hold a high market share during the forecast period owing to the increasing patient population compared to other countries. The rising incidences of cancer in the United States boost the market growth. As per the 2021 report by the American Cancer Society, there were an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States in 2021. The other factors that are attributed to the market's growth are increasing awareness about different cancer treatments, the availability of advanced immune-oncology drugs in the region, and the growing healthcare spending in countries such as the United States. According to the statistics published by the Centers for Medicare and Medicaid Services (CMS), U.S. health care spending grew 9.7 percent in 2020, reaching USD 4.1 trillion or USD 12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7 percent.

Companies are also engaging in collaborations and agreements to increase their market share. In December 2021, Bionaut Labs announced a strategic partnership with Candel Therapeutics, Inc investigating Bionaut's remote-controlled microscale robots for precision delivery of Candel's oncolytic viral immunotherapy agents to specific brain tumors. In this collaboration, Bionaut Labs will apply its micro-robotic technology to deliver Candel's oncolytic viruses directly to brain tumors minimally invasive.

Competitive Landscape

The global oncolytic virotherapy market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Amgen Inc., Shanghai Sunway Biotech Co., Ltd., TILT Biotherapeutics Ltd., Oncorus, Inc., Takara Bio Inc., Vyriad, Transgene SA, Lokon Pharma AB, Pfizer Inc., Roche., AstraZeneca. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the oncolytic virotherapy globally. For instance, In January 2022, Siga technologies announced a preclinical collaboration with Bioarchitech for developing immunotherapy for cancer treatments. The research collaboration investigates the TPOXX (tecovirimat) in combination with Bioarchitech's proprietary 'vaccinia-based immunotherapy platform which utilizes engineered antibodies and other proteins within the genome of the oncolytic virus.

Key Companies to Watch

Amgen

Overview: Amgen was incorporated in 1980. The company is engaged in the research, development, and manufacturing of pharmaceutical products. Amgen is one of the world's leading biotechnology companies. The company offers a wide range of products for the treatment of central nervous system, neurosciences, ophthalmology, medical aesthetics, plastic surgery, dermatology, liver disease, inflammation, metabolic syndromes, and fibrosis.

Product Portfolio: It includes products like IMLYGIC (talimogene laherparepvec) is a prescription medication injected on the skin, beneath the skin, or in Their lymph glands to treat a type of skin cancer called melanoma when it can no longer be surgically removed.

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