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    Oncolytic Virus Therapy Market Report

    Oncolytic Virus Therapy Market Report
    Report code - SRHL313 Delivery - 2 Weeks
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    Global Oncolytic Virus Therapy Market, Trends, Dynamics, and Market Analysis
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    Impact of COVID-19 on Oncolytic Virus Therapy Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Oncolytic Virus Therapy Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Global Oncolytic Virus Therapy Market is expected to grow from USD 101.2 million in 2020 to USD 356.7 million by 2026 at a CAGR of over 23.7% during the forecast period.

    Figure: Global Oncolytic Virus Therapy Market Size, 2020-2026 (USD Million)

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    What is Oncolytic Virus Therapy?

    Oncolytic virus therapy is a type of immunotherapy that involves the usage of the virus in cancer treatment to infect and destroy cancer cells. Some of the commercialized therapy types include imlygic, oncorine and rigvir. These natural viruses are engineered to deliver therapeutic payloads to tumors and produce immune-boosting molecules after infecting tumor cells.

    Key Players

    Key players operating in the global Oncolytic Virus Therapy Market are-

    • Amgen Inc. (The U.S),
    • Oncolytics Biotech, Inc. (Canada),
    • Merck & Co., Inc. (The U.S),
    • Transgene SA (France),
    • Oncolys BioPharma Inc. (Japan),
    • Targovax ASA (Norway),
    • Vyriad Inc. (The U.S),
    • Genelux Corporation (The U.S),
    • Sorrento Therapeutics, Inc. (The U.S), and
    • Lokon Pharma AB (Sweden).

    Market Dynamics

    The growth of the global oncolytic virus therapy market is primarily driven by increasing cancer prevalence among consumers.

    • Growing preference for oncolytic virus therapies over traditional therapies to cure various types of cancer including prostate cancer, breast cancer, lung cancer, blood cancer, and brain tumor is likely to propel the market growth at a significant rate during the review period.
    • Growing emphasis on technological advancement in the treatment methods providing improved efficacy and few side effects is expected to create lucrative opportunities for the market players during the review period.

    Report Features

    End User Trends

    Based on end user, the market has been segmented into hospitals, specialty clinics and cancer research institutes.

    The hospitals segment accounted for the largest market share in 2020. The segment growth can be attributed to presence of skilled staff and availability of modern equipment coupled with increasing number of cancer patients in the hospitals.

    Regional Trends

    Geographically, the market in North America accounted for the largest market share in 2020 and is expected to continue its dominance over the forecast period owing to increasing incidence of cancer disease.

    Additionally, high spending on R&D activities to develop advanced therapies to treat cancer is likely to add to the market growth significantly. The market in Asia-Pacific is expected to register healthy CAGR during the review period on account of increasing prevalence of cancer and rising awareness about the available cancer treatment methods.

    COVID-19 Impact on Global Oncolytic Virus Therapy Market

    The covid-19 outbreak posed significant challenges to the health care system across geographies. It affected the growth of the oncolytic virus therapy market negatively as patients postponed their treatment due to a rapid surge in covid-19 cases across geographies. Additionally, people having cancer were at risk of becoming severely ill. Also, supply chain disruptions due to the imposition of lockdown affected the installation of equipment in the hospital and thus, affected the market growth.

    Critical Questions Answered in the Report

    • What are the key trends in the global Oncolytic Virus Therapy market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the global Oncolytic Virus Therapy market?
    • What are the key strategies adopted by the major vendors to lead in the global Oncolytic Virus Therapy market?
    • What is the market share of the top vendors?

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    Target Audience

    • Oncolytic virus therapy manufacturers
    • Oncolytic virus therapy suppliers
    • Oncolytic virus therapy distributors
    • Organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The oncolytic virus therapy market is expected to witness an impressive growth of 23.7% CAGR in the foreseeable years.

    Amgen Inc. (The U.S), Oncolytics Biotech, Inc. (Canada), Merck & Co., Inc. (The U.S), Transgene SA (France), Oncolys BioPharma Inc. (Japan), Targovax ASA (Norway), Vyriad Inc. (The U.S), Genelux Corporation (The U.S), Sorrento Therapeutics, Inc. (The U.S) and Lokon Pharma AB (Sweden) are among the key players in the oncolytic virus therapy market.

    The oncolytic virus therapy market size is expected to reach USD 356.7 million in the coming years.

    North America is expected to remain dominant in the oncolytic virus therapy market in the coming five years.

    The hospital segment accounted for the largest share in the oncolytic virus therapy market in 2020.

    Increasing cancer prevalence among consumers, growing preference for oncolytic virus therapies over traditional therapies to cure various types of cancer, growing emphasis on technological advancement are the factors driving the growth of oncolytic virus therapy market.

    Oncolytic virus therapy manufacturers, Oncolytic virus therapy suppliers, Oncolytic virus therapy distributors, Organizations, Government bodies are the target audience in the oncolytic virus therapy market.

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