Global Oncolytic Virus Therapy Market By Type (Newcastle Disease Virus-Based Oncolytic Viruses, Vaccinia Virus-Based Oncolytic Viruses, Vesicular Stomatitis Virus-Based Oncolytic Viruses, Adenoviruses-Based Oncolytic Viruses, HSV-Based Oncolytic Viruses), By Application (Breast Cancer, Ovarian Cancer, Melanoma, Prostate Cancer, and Others), Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019-2026

Market Definition

Global Oncolytic Virus Therapy market is estimated to reach $138.29 million in 2019 with a CAGR of 26.3% from 2019 to 2026. Oncolytic virus (OV) characterize a new class of theraupeutic agents that replicate in cancer cells but not in normal cells, leading to lysis of the tumor mass. OVs raise anti-tumour responses through a dual-mechanism of action that is dependent on selective tumour cell killing and the induction of systematic anti-tumour. These viruses have long been viewed as tools for straight killing cancer cells. Besides, a growing body of research suggests that some oncolytic viruses may work – at least in part – by causing an immune response in the body against cancer.

Industry Forces

The rising prevalence rate of cancer globally is the primary factor driving the growth of the global oncolytic virus market size. For instance, according to the Our World in Data, in the year 2017, approximately 9.6 million people were estimated to have died from various forms of cancer.  In addition, side effects associated with conventional cancer therapies such as chemotherapy and radiation therapy cause certain side-effects such as skin cancer and many other side effects.  This factor is expected to turn the cancer patients towards OVs therapy which has no side-effects whatsoever that eventually upsurges the market growth. However, OV therapy possesses few drawbacks such they cannot destroy resistant cancer cells, have limited replication and spreading, and have antiviral immune  These factors could limit the therapy to grow rapidly on a global scale. Then again, these therapies are still at its initial stage, wherein drug development and clinical trials are still going on, which could also hinder the market from. Till date, only one oncolytic virus i.e. a genetically modified form of a herpesvirus for treating melanoma—has been approved by the Food and Drug Administration (FDA), though a number of viruses are being evaluated as potential treatments for cancer in clinical trials. Moreover, on-going R&D activities to get a perfect cure by these therapies and numerous government investments and initiatives would provide lucrative opportunities for the market in the coming years.

Market Segmentation

The global oncolytic virus therapy market is mainly classified based on type, application. Type is further segmented into Newcastle disease virus-based oncolytic viruses, vaccinia virus-based oncolytic viruses, vesicular stomatitis virus-based oncolytic viruses, adenoviruses-based oncolytic viruses, and HSV-based oncolytic. By application, the market is divided into breast cancer, ovarian cancer, melanoma, prostate cancer, and others.

Regional Analysis

Based on geography, the global oncolytic virus therapy market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle. North America is one of the leader in the global market and is expected to continue its trend throughout the forecast period. In addition, the U.S will also join hands with the North America owing to the growing number of cancer patients in the country. For instance, according to the National Cancer Institute, in 2018, an estimated 1,735,350 new cases of cancer were diagnosed in the United States and 609,640 people and died from the disease.

Key Players

Key players operating in the oncolytic virus therapy industry include Amgen, Cell Genesys, Cold Genesys, Crusade Laboratories, Genelux Corporation, Lokon Pharma, Merck, MultiVir, ncolys BioPharma, Targovax, PsiOxus Therapeutics, SillaJen Biotherapeutics, Sorrento Therapeutics, TILT Biotherapeutics, Transgene SA, Viralytics and Vyriad among others. Global Oncolytic Virus Therapy Industry is highly fragmented and the market leaders/key players/major manufacturers have used various strategies such as product launches, acquisitions, agreements, expansions, partnerships, joint ventures, and others to increase their domination over this market. For instance, on June 05, 2019 – Oncolytics Biotech announced Study to Investigate Combination of Pelareorep and Avelumab in Metastatic Breast Cancer in Collaboration with Merck KGaA and Pfizer. The agreement is to co-develop pelareorep in combination with avelumab and paclitaxel, a human anti-PD-L1 antibody, for the cure of hormone-receptor positive, human epidermal growth factor 2-negative (HR+ / HER2-) metastatic breast cancer.

Oncolytic Virus Therapy Market Key Segments:

By Type

• Newcastle Disease Virus-Based Oncolytic Viruses
• Vaccinia Virus-Based Oncolytic Viruses
• Vesicular Stomatitis Virus-Based Oncolytic Viruses
• Adenoviruses-Based Oncolytic Viruses
• HSV-Based Oncolytic Viruses

By Application

• Breast Cancer
• Ovarian Cancer
• Melanoma
• Prostate Cancer
• Others

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC Countries
  • Egypt
  • South Africa
  • Rest of Middle East & Africa