Oncolytic Virus Immunotherapy Market Size & Share to Surpass $615.39 Million by 2030 | Vantage Market Research

WASHINGTON, Nov. 14, 2023 (GLOBE NEWSWIRE) — As per Vantage Market Research, the Global Oncolytic Virus Immunotherapy Market has been significantly growing over the years due to the increasing prevalence of cancer and the adoption of advanced medical technologies.      

According to Vantage Market Research, the Global Oncolytic Virus Immunotherapy Market is estimated to be valued at USD 615.39 Million by 2030 and is expected to exhibit a CAGR of 25.5% from 2023 to 2030. The global Oncolytic Virus Immunotherapy market grew to USD 100 million in 2022.

Oncolytic Virus Immunotherapy is an inventive approach in cancer treatment that utilizes viruses to selectively target and destroy cancer cells while stimulating the defense mechanism to mount an anti-tumor response. These viruses have undergone genetic modification, customizing them to target and reproduce only within cancer cells. As a result, they cause the cancer cells to rupture, releasing tumor antigens that stimulate the immune system. This therapeutic approach can potentially enhance outcomes in individuals with cancer by directly eliminating malignant cells and strengthening the immune system’s capacity to detect and attack cancerous cells throughout the body.

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Key Highlights

  • The Oncolytic Virus Immunotherapy Market size is anticipated to reach USD 600 million by 2030.
  • By Product Type, in 2022, the Adenovirus segment has held the maximum revenue share due to its efficacy in targeting and destroying cancer cells.
  • By application, in 2022, the breast cancer segment has generated the largest revenue share. However, the lung cancer segment is growing at the fastest CAGR during the forecast period.
  • Based on the end-user, the hospital segment is expected to sustain its dominance in the market.
  • In 2022, North America dominated the market with the highest revenue share of 43.1%, owing to the growing prevalence of melanoma cancer cases in Canada and the U.S.
  • The Asia Pacific region is expected to register the fastest CAGR from 2023 to 2030.

The Oncolytic Virus Immunotherapy industry is a rapidly growing sector in cancer treatment. This therapy uses viruses to selectively target and destroy cancer cells while stimulating the immune response to enhance its reaction against the disease. Numerous companies and research institutions are actively developing oncolytic virus immunotherapies to improve patient outcomes. Hence, patients have several choices in a very competitive drug market.

Factors Affecting the Growth of the Oncolytic Virus Immunotherapy Industry

  • Increasing prevalence of cancer: As per GLOBOCAN 2020, 19.3 million new cancer cases were identified, and almost 10.0 million died from cancer in 2020. This growing burden of cancer creates a significant demand for innovative and effective treatment options like Oncolytic Virus Immunotherapy.
  • Advancements in oncolytic virus technology: Significant improvements have been made in oncolytic virus therapy, including developing genetically modified viruses that selectively target and kill cancer cells. For example, Talimogene laherparepvec (T-VEC), an oncolytic virus therapy for melanoma, has substantially improved overall survival rates.
  • Favorable regulatory environment: The U.S. Food and Drug Administration (FDA) has recognized the potential of Oncolytic Virus Immunotherapy and has provided accelerated approval pathways for specific treatments. This facilitates faster market entry and commercialization of these therapies.
  • Cost-effectiveness: Some studies suggest that Oncolytic Virus Immunotherapy may provide cost-effective treatment options compared to conventional therapies. For example, a study published in the Journal of Clinical Oncology found that T-VEC was cost-effective in treating unresected stage IIIb-IV melanoma.

Top Companies in The Global Oncolytic Virus Immunotherapy Market

  • Sorrento Therapeutics Inc. (U.S.)
  • Merck & Co. Inc. (U.S.)
  • Amgen Inc. (U.S.)
  • Shanghai Sunway Biotech Co. Ltd. (China)
  • Cold Genesys Inc. (U.S.)
  • Oncolytics Biotech Inc. (Canada)
  • Transgene Biotek Ltd. (India)
  • SillaJen Inc. (South Korea)
  • ORYX GmbH & Co. KG (Germany)
  • Viralytics Ltd. (Australia)

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Top Trends in the Global Oncolytic Virus Immunotherapy Market

The Oncolytic Virus Immunotherapy market is seeing significant trends that are worth noting. One such trend is the growing emphasis on personalized therapies, which involve using genetically modified viruses to create treatments tailored to individual patients. Another trend is the increase in collaborative partnerships between pharmaceutical companies and research institutions as they work together to advance the development of oncolytic virus immunotherapies. Calidi Biotherapeutics recently secured an exclusive license agreement in August 2021 with the City of Hope and the University of Chicago to access revolutionary oncolytic virotherapy technology. Furthermore, there is a rise in investments in clinical trials and research activities as the market seeks to explore the potential of oncolytic virus immunotherapies in cancer treatment.

Market Drivers
The main driving factor for the Oncolytic Virus Immunotherapy market is the rising cancer prevalence worldwide. By 2040, the global number will rise to 27.5 million new cancer patients and around 16.3 million cancer deaths. According to the American Cancer Society, in 2021, breast and prostate cancer held the highest share, registering 281,550 and 248,530 cases, respectively.

Governments of developed and developing nations are actively conducting awareness campaigns and programs to encourage early cancer diagnosis, which is expected to boost the adoption of newer therapies and drive market growth. Additionally, several developing countries have initiated awareness initiatives about the different causes of cancer, further contributing to the demand for Oncolytic Virus Immunotherapy. This is complemented by the increasing number of clinical studies in this field and the FDA’s approval of various oncolytic virus immunotherapies. These factors are expected to drive the demand for Oncolytic Virus Immunotherapy in the forecast period.

Market Restraints

The high medical cost, risks associated with treatment, and stringent regulatory standards may hinder the market growth over the forecast period. For example, the FDA-approved oncolytic virus therapy, T-VEC, costs around USD 65,000 monthly. Additionally, the limited accessibility and availability of oncolytic virus therapies and the potential for adverse side effects pose challenges for widespread adoption and market growth.

Market Opportunities
The global Oncolytic Virus Immunotherapy market will experience significant growth opportunities in the coming years. This treatment method shows great promise in tackling diverse forms of cancer, such as melanoma and lung cancer. The rising number of cancer patients globally and the demand for novel and efficient treatment options fuel the popularity of Oncolytic Virus Immunotherapy. Moreover, technological progress and the growing emphasis on personalized medicine are projected to boost market growth. The extensive scope for research and development activities also provides avenues for market expansion.

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Recent Development of the Global Oncolytic Virus Immunotherapy Market

  • In January 2022, Siga Technologies announced a preclinical collaboration with Bioarchitech to develop cancer treatment immunotherapy. 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.

Report Segmentation of the Global Oncolytic Virus Immunotherapy Market
Product Type Analysis

Adenovirus dominated the market with the largest share because of its efficacy in targeting and destroying cancer cells. Adenovirus-based oncolytic viruses offer advantages such as high tumor selectivity, the ability to stimulate the immune response, and relatively low toxicity. The global Oncolytic Virus Immunotherapy market is based on product types segmented into herpes simplex, adenovirus, vaccinia, vesicular stomatitis, and other product types. The demand for Adenovirus-based Oncolytic Virus Immunotherapy will continue its dominance in the coming years, driven by increasing research and development activities, clinical trials, and the growing demand for targeted cancer therapies.

Application Analysis
The Breast Cancer segment dominated the largest market share. It will dominate in the forecast period because of the global prevalence of breast cancer cases and the significant advancements in oncolytic virus therapy designed for breast cancer treatment. Moreover, the increasing awareness among patients and healthcare providers regarding the benefits of immunotherapy in breast cancer has further fueled market growth. The global Oncolytic Virus Immunotherapy market is based on the application analysis segmented into melanoma, prostate cancer, ovarian cancer, lung cancer, breast cancer, and other applications. With ongoing research and development to enhance the efficacy and safety of Oncolytic Virus Immunotherapy, the breast cancer segment is expected to maintain its dominant position in the market in the coming years.

End-User Analysis
Hospitals dominated the most significant share owing to several factors, including the availability of advanced medical facilities, a wide range of treatment options, and a higher number of patients opting for hospital-based treatments. The global Oncolytic Virus Immunotherapy market is based on end-user analysis segmented into hospitals, specialty clinics, and cancer research institutes. Furthermore, hospitals have the necessary infrastructure, expertise, and resources to deliver Oncolytic Virus Immunotherapy to cancer patients. Hospitals often collaborate with research centers and pharmaceutical companies to develop and test new immunotherapies, further contributing to their dominant position in this market.

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Oncolytic Virus Immunotherapy Market Forecast Report (2023-2030).                            

Global Oncolytic Virus Immunotherapy Market Segmentation

By Product Type        

  • Herpes Simplex Virus
  • Adenovirus
  • Vaccinia Virus
  • Vesicular Stomatitis Virus
  • Other Product Types

By Application

  • Melanoma
  • Prostate Cancer
  • Ovarian Cancer
  • Lung Cancer
  • Breast Cancer
  • Other Applications

By End-User

  • Hospitals
  • Specialty Clinics
  • Cancer Research Institutes

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis

Due to the growing prevalence of melanoma cancer cases in Canada and the U.S., North America dominated the global market share for Oncolytic Virus Immunotherapy, with a market share of 42.90% in 2022. The region has a strong presence of major market players actively engaged in research and development activities related to Oncolytic Virus Immunotherapy. Additionally, the favorable reimbursement policies and regulatory environment in North America contribute to the growth of the Oncolytic Virus Immunotherapy market in this region. As a result, North America continues to witness significant advancements and the adoption of Oncolytic Virus Immunotherapy for cancer treatment.

The Asia Pacific market is highly lucrative due to several possible areas for future enlargement. Factors such as the large patient population, increasing prevalence of cancer, and rising healthcare infrastructure are driving growth in this region. Additionally, supportive government initiatives and investments in research and development are further contributing to the market’s expansion.

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Scope of the Report:    

Report Attributes Details
Market Size in 2022 USD 100 Million
Revenue Forecast by 2030 USD 615.39 Million
CAGR 25.5% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players Sorrento Therapeutics Inc., Merck & Co. Inc., Amgen Inc., Shanghai Sunway Biotech Co. Ltd., Cold Genesys Inc., Oncolytics Biotech Inc., Transgene Biotek Ltd., SillaJen Inc., ORYX GmbH & Co. KG, Viralytics Ltd.
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