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Oncolytic Virus Immunotherapy Market Size

Report ID: GMI8770
Published Date: Mar 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Oncolytic Virus Immunotherapy Market Size in 2023:	USD 306.2 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	22.6%
2032 Value Projection:	USD 1.9 billion
Historical Data for:	2021 - 2023
No. of Pages:	160
Tables, Charts & Figures:	295
Segments covered:	Virus Type, Route of Administration, Application, End-user, and Region
Growth Drivers:	Rising incidence of cancer Increasing focus on combination therapies Escalated R&D activities Growing advancements in viral engineering
Pitfalls & Challenges:	Development of immunogenicity and resistance to the treatment High cost of the treatment

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Oncolytic virus immunotherapy market size was USD 302.6 million in 2023 and is expected to register 22.6% CAGR from 2024-2032 owing to the increasing incidence of cancer worldwide, which necessitated the development of novel and effective treatment options.

The herpes simplex virus (HSV) segment is expected to register 22.7% CAGR from 2024-2032 due to its ability to specifically infect and replicate within cancer cells while leaving healthy tissue unaffected.

North America oncolytic virus immunotherapy industry is expected to register 22.3% CAGR from 2024-2032 due to the growing patient population and rising cancer incidences in the region.

Amgen Inc., Creative Biolabs, Daiichi Sankyo Company Limited, Genelux Corporation, Oncorus Inc., Replimune Inc., Siga Technologies, Sorrento Therapeutics Inc., TILT Biotherapeutics, and Viralytics Ltd., are some of the major oncolytic virus immunotherapy companies worldwide.