Oncolytic Virotherapy Market Size was valued at USD 0.05 Billion in 2023. The oncolytic virotherapy market industry is projected to grow from USD 0.06 Billion in 2024 to USD 0.27 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.60% during the forecast period (2024 - 2032). The oncolytic virotherapy market's growth can be attributed to market drivers, including the desire to cure uncommon malignancies and their increasing incidence, as well as the aging population's rising demand for better and more potent therapies.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Growing numbers of rare cancers, the need to treat them, the need for powerful and effective treatments, the aging population, and many more elements are the impetus for the oncolytic virotherapy market. The World Health Organization (WHO) has cancer listed as one of the leading causes of death, and death statistics for 2020 indicate ten million cancer deaths. Cancer is the greatest cause of death all around the world. The primary reason lies in the GLOBOCAN 2020 database, which estimates that there will be a rise in global cancer incidence. 350,000 new cases daily, of which 45,000 get the status of COVID-19. In the year 2021, up to 2 million Cancer patients are going to be documented. Many databases were set up that highlighted the possible benefits of gene therapies over a more refined method of cancer treatment, like the monoclonal antibodies. The nanoparticles, with their capabilities for strong selectivity, affinity, and stability, as well as offer further specific targets. Due to this, gene therapies in cancer management have been promoted by their application. As a result, oncolytic virotherapy is being propelled by the rising cancer burden and acts as a main growth-driving factor in the expansion of the market.
Moreover, the FDA states that there has been a drastic rise in the number of IND submittals once oncolytic virotherapy products transition from preclinical research. The officials display optimism in the next few years on the wide use of oncolytic virotherapy in the treatment of cancer. This indicates a notable advancement in science and the potential for these innovative treatments to treat patients. The FDA now has over 800 active INDs for directly administered or cell-based gene therapy on file with the agency as of January 2019. By 2021, the FDA is expected to receive over 200 INDs annually. Furthermore, the FDA projects that by 2025, 10 to 20 gene treatments will be approved annually based on an assessment of the present pipeline and the clinical success rates of these medications. With the perspective of the oncolytic virotherapy marketplace becoming solid, it is soon to assume that companies have tons of opportunities. For the past several years, a growth in both cancer incidents and cancer-related healthcare spending has been observed.
In addition, a significant period of time and effort has been put into the development of various therapies in immunotherapy, immune oncology, and other methods of cancer treatment. There are a couple that are becoming more popular: stem cell treatment, adoptive cell treatment, and oncolytic virus therapy. The use of drugs and other medications causes side effects, pharmaceutical resistance, and off-target effects that ultimately limit the efficacy of numerous therapeutic alternatives. Therefore, scientists are looking for new pathway-specific or signaling-specific therapies that are potent against the cancer cells without damaging the healthy cells. Oncolytic virotherapy has been the focus of the scientific community as one of the candidates for improving cancer treatment in the future, driving the market CAGR. Oncolytic virotherapy has shown great promise and possibilities for improving cancer treatment in the future. Using oncolytic virotherapy would surely offer an essential means of survival. Thus, driving the oncolytic virotherapy market revenue.
The Oncolytic Virotherapy Market segmentation, based on type, includes HSV-based Oncolytic Viruses, Adenoviruses-based Oncolytic Viruses, and Others. In 2023, the adenoviruses-based oncolytic viruses segment dominated the market because of its capacity to target and destroy cancer cells efficiently. Oncolytic viruses based on adenoviruses provide a number of advantages, including excellent tumor selectivity, relatively low toxicity, and the ability to trigger an immune response.
Figure 1: Oncolytic Virotherapy Market, by Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Oncolytic Virotherapy Market segmentation, based on application, includes Melanoma, Prostate Cancer, Breast Cancer, Ovarian Cancer, Lung Cancer, and Others. The breast cancer category generated the most income in 2023 because of the increasing global incidence of occurrences of breast cancer and the noteworthy advancements in oncolytic viral therapy for the treatment of breast cancer. Patients and medical professionals have also been made aware of the advantages of immunotherapy for breast cancer, which has accelerated the oncolytic virotherapy market growth.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American oncolytic virotherapy market area will dominate this market, driven by the expanding number of therapeutic activities. This has resulted in the creation of novel oncolytic viruses, which are alterations of pre-existing viruses in the area that cause severe illnesses like cancer. Because of the increased advantages and increased patient eligibility resulting from new improvements, oncolytic virotherapy may become more in demand in the area.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ONCOLYTIC VIROTHERAPY MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe oncolytic virotherapy market accounts for the second-largest market share, driven by the increasing number of oncolytic virus therapy medication approvals. This has resulted in the creation of novel oncolytic viruses, which are alterations of pre-existing viruses in the area that cause severe illnesses like cancer. Because of the increased advantages and increased patient eligibility resulting from new improvements, oncolytic virotherapy may become more in demand in the area. Further, the German oncolytic virotherapy market held the largest market share, and the UK oncolytic virotherapy market was the fastest growing market in the European region.
The Asia-Pacific Oncolytic Virotherapy Market is expected to grow at the fastest CAGR from 2024 to 2032 because the number of companies producing drugs for cancer treatment has significantly increased. The market for oncolytic virotherapy is growing in terms of earnings and revenue as countries like China and Japan bring innovations to the market. Additionally, during the projection period, the region's growing drug approval rate is anticipated to support market expansion. Moreover, China’s oncolytic virotherapy market held the largest market share, and the Indian oncolytic virotherapy market was the fastest growing market in the Asia-Pacific region.
Oncolytic Virotherapy Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the oncolytic virotherapy market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the oncolytic virotherapy industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global oncolytic virotherapy industry to benefit clients and increase the market sector. In recent years, the oncolytic virotherapy industry has offered some of the most significant advantages to medicine. Major players in the oncolytic virotherapy market are attempting to increase market demand by investing in research and development operations, including Lokon Pharma, Amgen, Transgene SA, Vyriad, Sorrento Therapeutics, Oncolys BioPharma, Targovax, CG Oncology Inc., TILT Biotherapeutics, VCNBiosciences, DNAtrix, and Replimune Group Inc.
Amgen became a company in 1980. Pharmaceutical product creation, research, and manufacturing are the company's activities. Amgen is a top biotechnology company in the globe. The company provides a large selection of products to treat conditions related to the neurological system, neurology, ophthalmology, dermatology, plastic surgery, medical aesthetics, liver disease, metabolic syndromes, inflammation, and fibrosis. In August 2022, Amgen acquired the biopharmaceutical company ChemoCentryx for a substantial sum of USD 3.7 billion. Amgen now has access to Tavneos, a critical medication that has already been approved for use in Europe and Japan, thanks to this calculated approach. Amgen is well-positioned to fortify its position and increase its footprint in areas like Asia Pacific and Europe with this acquisition.
Biopharmaceutical company Sorrento Therapeutics Inc. (Sorrento) specializes in creating medicines to treat autoimmune disorders, osteoarthritis, and cancer. The business offers CD38 CAR-T, CD38 DAR-T, CD38 ADC, and sephrehvir as part of its immunotherapy pipeline for cancer treatment. Sorrento is looking at COVID-19 treatments, such as Covishield, Covidrops, and Coviguard. ZTlido, a topical lidocaine system for the treatment of postherpetic neuralgia (PHN), is one of its marketed medicines.
Key companies in the oncolytic virotherapy market include
Oncolytic Virotherapy Industry Developments
January 2022: Siga Technologies and Bioarchitech formed a preclinical partnership to study immunotherapy as a cancer treatment. The TPOXX (tecovirimat) and Bioarchitech's patented "vaccinia-based immunotherapy platform," which makes use of tailored antibodies and other proteins found in the oncolytic virus's genome, are the subjects of the research partnership.
December 2021: Candel Therapeutics, Inc. and Bionaut Labs have established a strategic partnership aimed at utilizing Bionaut's remote-controlled microscale robots to precisely administer Candel's oncolytic virotherapy medicines to certain brain tumors.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.05 Billion |
| Market Size 2024 | USD 0.06 Billion |
| Market Size 2032 | USD 0.27 Billion |
| Compound Annual Growth Rate (CAGR) | 23.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Lokon Pharma, Amgen, Transgene SA, Vyriad, Sorrento Therapeutics, Oncolys BioPharma, Targovax, CG Oncology Inc., TILT Biotherapeutics, VCNBiosciences, DNAtrix, and Replimune Group Inc. |
| Key Market Opportunities | ·        Growing the amount of money spent on research and development |
| Key Market Dynamics | ·        Growing numbers of people with hereditary illnesses and cancer ·        Increase in trials assessing the efficacy and safety of oncolytic virotherapy |
Frequently Asked Questions (FAQ) :
The Oncolytic Virotherapy Market size was valued at USD 0.05 Billion in 2023.
The global market is projected to grow at a CAGR of 23.60% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Lokon Pharma, Amgen, Transgene SA, Vyriad, Sorrento Therapeutics, Oncolys BioPharma, Targovax, CG Oncology Inc., TILT Biotherapeutics, VCNBiosciences, DNAtrix, and Replimune Group Inc.
The adenoviruses-based oncolytic viruses category dominated the market in 2023.
The breast cancer category had the largest share in the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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