Oncolytic Virotherapy Market Analysis

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.
 

• The leading share of genetically engineered oncolytic viruses can be attributed to their enhanced specificity and targeting capabilities. Genetically engineered viruses such as adenovirus and herpes simplex virus can be designed to target and infect cancer cells specifically, without impacting healthy cells. Owing to their target specificity, majority of researchers are focusing towards using genetically engineered oncolytic viruses, which is contributing towards the growth of the segment.
   
• Moreover, genetic engineered oncolytic viruses can be modified through incorporating additional therapeutic genes into the virus, enhancing its overall anti-cancer activity. As a result, they offer improved efficacy and efficient treatment outcomes. These benefits are fueling the adoption of genetic engineered oncolytic viruses across in market.
   

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.
 

• Leading share of solid tumor segment can be attributed to high prevalence of breast, prostate, and lung cancer. For instance, according to the World Health Organization, in 2022, about 2.3 million women were diagnosed with breast cancer. The high prevalence of breast cancer is driving the demand for oncolytic virotherapy in solid tumor segment, which is driving the overall growth of the segment.
   
• Furthermore, once the chemotherapy and surgery are unsuccessful, there are limited treatment options for patients with solid tumors. This has also propelled the investments for developing new cancer therapies such as oncolytic virotherapies, thereby driving the revenue growth in the segment.
   

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.
 

• Increasing preference for inpatient settings to avail cancer therapies is driving the revenue growth in hospitals segment. Inpatient settings such as hospitals have specialized oncology departments with skilled healthcare professionals, including radiation oncologists, medical oncologists, and surgical oncologists, who have a significant experienced in diagnosing and treating cancer patients.
   
• Moreover, the rising utilization of combination treatments, which involves a collaborative approach wherein patients undergo oncolytic virotherapy alongside chemotherapy, radiation therapy, and surgical interventions, is further bolstering the preference for hospitals among patients. Hospitals are well-equipped to manage and monitor combination therapies as they offer comprehensive care through multidisciplinary care teams.
   

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.
 

• Leading share of North America can be attributed to its robust research infrastructure. Leading pharmaceutical companies, academic institutions, and research centers actively contribute to the development and commercialization of oncolytic virotherapy in this region.
   
• Furthermore, early adoption of innovative therapies, including oncolytic virotherapy is also supporting the revenue growth for market in the region. Presence of advanced healthcare ecosystem and proactive approach to new treatments among cancer patients, due to rising awareness for high efficacy of viral therapies is increasing the adoption of oncolytic virotherapy in North America.
   

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.

• High investments by vendors to accelerate research and developments in their pipeline technologies has contributed to an increased availability of oncolytic viral platforms in the U.S. For instance, in December 2022, Adstiladrin received approved from U.S. FDA, for use in patients with high-risk Bacillus Calmette-Guérin unresponsive non-muscle invasive bladder cancer. Availability of new oncolytic virotherapy platforms is further accelerating the revenue growth in the market.
   
• Moreover, the U.S. boasts a robust infrastructure for conducting clinical trials through utilizing its large network of hospitals, academic medical centers, and research organizations that actively recruit patients for oncolytic virotherapy trials. Availability of robust clinical infrastructure is helping the companies to accelerate their clinical developments in oncolytic virotherapy.
   
• Additionally, FDA's accelerated approval pathways and orphan drug designation to many pipelines under clinical stages have boosted the availability of oncolytic virotherapy treatments for rare cancers in the U.S.
   

Germany oncolytic virotherapy market is expected to show lucrative growth during the forecast period.
 

• Increasing growth in pre-clinical research programs for developing new oncolytic virus platforms such as measles vaccine virus, oncolytic adenoviruses, and parvoviruses platform are expected to surge the availability of oncolytic virotherapies in Germany.
   
• Moreover, growing availability of dedicated research facilities for developing new cancer therapies such as National Cancer Prevention Center and German Cancer Research Center is also expected to contribute to an accelerated research and development activities in market in Germany during the forecast period.
   

India oncolytic virotherapy market is anticipated to grow remarkably over the coming years.
 

• Increasing prevalence of cancer along with growing support from government to develop advanced cancer care capabilities is driving the revenue growth in the market in India. For instance, in December 2023, the central government implemented the strengthening of tertiary care cancer facilities scheme under the National Programme for Prevention and Control of Non-Communicable Diseases (NP-NCD) such as cancer.
   
• Additionally, India has become a preferred location for clinical trials due to its well-established clinical research infrastructure, large patient population, and supportive regulatory environment. As a result, an increasing growth in clinical research in the country is expected to ensure an increasing availability of new oncolytic virotherapies in the country.