Oncolytic Virotherapy Market – Virus Type (Genetically Engineered Oncolytic, Oncolytic Wild-type), Application (Solid Tumors, Melanoma), End user (Hospitals, Specialty Clinics, Cancer Research Institutes) – Global Forecast (2024 – 2032)
Report ID: GMI9645
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Published Date: May 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 15
Tables & Figures: 228
Countries covered: 22
Pages: 125
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Oncolytic Virotherapy Market
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Oncolytic Virotherapy Market Size
Oncolytic Virotherapy Market size was valued at USD 20.1 million in 2023 and is anticipated to showcase growth at 26.9% CAGR from 2024 and 2032. Rising incidence of cancer, growing approvals for oncolytic therapy for treating rare cancers, and increasing investments for developing new oncolytic virotherapies are driving the revenue growth in market. Additionally, growing focus towards combination therapies is also driving the market.
Oncolytic virotherapy is a form of cancer treatment that uses viruses to selectively infect, replicate within, and destroy cancer cells while sparing normal cells. Oncolytic viruses are typically engineered to target and replicate in tumor cells, leading to their destruction through direct lysis, induction of apoptosis, or through stimulating the immune system's anti-tumor response.
Oncolytic virotherapy Market Trends
Oncolytic Virotherapy Market Analysis
Based on virus type, the oncolytic virotherapy market is segmented into genetically engineered oncolytic viruses and oncolytic wild-type viruses. The genetically engineered oncolytic viruses segment has been further sub-segmented into adenovirus, herpes simplex virus, vaccinia virus. similarly, the oncolytic wild-type viruses segment has been further sub-segmented into reovirus, vesicular stomatitis virus, newcastle disease virus. The genetically engineered oncolytic viruses segment held the majority of market share in 2023 and is anticipated to grow at CAGR of 27.3% over the coming years.
Based on application, the oncolytic virotherapy market is classified into solid tumors and melanoma. Solid tumors are further segmented into breast cancer, prostate cancer, lung cancer, and glioblastoma. Similarly, melanoma is further segmented into leukemia, lymphoma, myeloma, and hematological malignancies. The solid tumors segment dominated the market with a revenue of about USD 12.1 million in 2023.
Based on end-user, the oncolytic virotherapy market is classified into hospitals, specialty clinics, cancer research institutes. The hospitals segment secured a leading share of about 65.6% in 2023 and is anticipated to grow at 26.7% CAGR during the forecast period.
North America oncolytic virotherapy market accounted for 42.1% of market share in global market in 2023 and is predicted to reach USD 68.9 million by 2032.
The U.S. oncolytic virotherapy market was valued at USD 7.3 million in 2023 and is anticipated to grow at a CAGR of 26.5% over the forecast period.
Germany oncolytic virotherapy market is expected to show lucrative growth during the forecast period.
India oncolytic virotherapy market is anticipated to grow remarkably over the coming years.
Oncolytic Virotherapy Market Share
The oncolytic virotherapy industry is moderately fragmented due to the requirement for high capital investments for research and development of oncolytic virus platform. The established vendors have substantial financial and human resources required to conduct capital intensive clinical trials and develop new oncolytic virotherapies, which contributes to their leading market share. The vendors compete in terms of efficacy and early approval and commercialization of their oncolytic virotherapy products.
Oncolytic Virotherapy Market Companies
Prominent players operating in the oncolytic virotherapy industry include:
Oncolytic Virotherapy Industry News:
The oncolytic virotherapy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Virus Type
Market, By Application
Market, By End-user
The above information is provided for the following regions and countries: