Oncolytic Virus Immunotherapy Market – By Virus Type (HSV, Adenovirus, Vaccinia Virus, Reovirus), Application (Melanoma, Breast Cancer, Prostate Cancer), Route of Administration (Intratumoral, Intravenous), End-user – Global Forecast 2024 – 2032
Report ID: GMI8770
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Published Date: March 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 12
Tables & Figures: 295
Countries covered: 19
Pages: 160
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Oncolytic Virus Immunotherapy Market
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Oncolytic Virus Immunotherapy Market Size
Oncolytic Virus Immunotherapy Market size was valued at USD 306.2 million in 2023 and is expected to grow at a CAGR of 22.6% between 2024 and 2032, due to the increasing incidence of cancer worldwide, which necessitated the development of novel and effective treatment options.
According to the International Agency for Research on Cancer (IARC) estimation in 2022, around 20 million new cancer cases and 9.7 million deaths were estimated. The report also stated the projection figures of 35 million new cases by 2050, up 77% from 2022. Thus, the escalating global cancer burden is expected to surge the demand for innovative therapies. thereby propelling the market growth in the future.
Oncolytic virus immunotherapy is a cancer treatment approach that utilizes genetically modified viruses to selectively infect and destroy cancer cells while stimulating the immune system to recognize and attack tumors. These oncolytic viruses are engineered to replicate within cancer cells, leading to their destruction, and triggering an immune response against tumor antigens, potentially resulting in tumor regression and long-term anti-cancer immunity.
Oncolytic Virus Immunotherapy Market Trends
Oncolytic Virus Immunotherapy Market Analysis
Based on the virus type, the market is classified into herpes simplex virus (HSV), adenovirus, vaccinia virus, Newcastle disease virus, reovirus, and other virus types. The HSV segment has asserted its dominance in the global market by securing a significant share and experiencing growth of 22.7% between 2024 – 2032.
Based on the route of administration, the oncolytic virus immunotherapy market is classified into intratumoral, intravenous, and other routes of administration. The intravenous segment held the largest business share of 53% in 2023.
Based on the application, the global oncolytic virus immunotherapy market is categorized into melanoma, breast cancer, lung cancer, ovarian cancer, prostate cancer, and other applications. The melanoma segment is expected to reach USD 713.5 million by 2032.
Based on the end-user, the oncolytic virus immunotherapy market is classified into hospitals & clinics, cancer research institutes, ambulatory surgical centers, and other end-users. The hospitals & clinics segment accounted for 39.1% market share in 2023 and is expected to reach USD 735.1 million by 2032.
North America region is projected to maintain its lead in the global oncolytic virus immunotherapy market, anticipated to exhibit 22.3% CAGR during the analysis period.
Oncolytic Virus Immunotherapy Market Share
The companies are actively prioritizing R&D efforts to pioneer novel therapies, broaden product portfolios, and fortify market presence. Strategic alliances, partnerships, and acquisitions are prevalent strategies to bolster competitiveness. Moreover, advancements in technology and escalating investments in oncology research are enhancing competition within the market.
Oncolytic Virus Immunotherapy Market Companies
Prominent players operating in the oncolytic virus immunotherapy industry are as mentioned below:
Oncolytic Virus Immunotherapy Industry News:
The oncolytic virus immunotherapy 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 Route of Administration
Market, By Application
Market, By End-user
The above information is provided for the following regions and countries: