Oncolytic Virus Immunotherapy Market

The global Oncolytic Virus Immunotherapy Market is valued at USD 100 Million in 2022 and is projected to reach a value of USD 615.39 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 25.5% between 2023 and 2030.

Premium Insights

The growing investments in advanced technology therapies, increasing clinical trials, and supportive government reimbursement policies contribute to the market's growth. The rise in cancer patients is also driving the market expansion. According to the World Health Organization (WHO), areas such as Northern Africa and Western Asia, South America, the Caribbean, and Southeast Asia may witness a significant increase of over 75% in cancer deaths by 2020 compared to 2000. Many pharmaceutical companies are conducting clinical trials to evaluate the effectiveness of oncolytic viruses in combination with radiotherapy, immune checkpoint inhibitors, and chemotherapeutic agents. These trials have shown promising results in cancer treatment. In 2020, T-VEC, RIGVIR, and Oncorine oncolytic viral drugs were approved for cancer treatment and have demonstrated positive therapeutic effects. Oncolytic research has gained significant attention in recent years. The number of articles published on oncolytic virus therapy studies has risen by 395% in the past decade. Companies are also entering into collaborations and agreements to enhance their market presence. For example, in December 2022, Bionaut Labs announced a strategic partnership with Candel Therapeutics, Inc. to explore using Bionaut's remote-controlled microscale robots to precisely deliver Candel's oncolytic viral immunotherapy agents to specific brain tumors.

• The Oncolytic Virus Immunotherapy Market size is anticipated to reach USD 600 million by 2030.
• By Product Type, in 2022, the Adenovirus segment has held the maximum revenue share due to its efficacy in targeting and destroying cancer cells.
• By Application, in 2022, the breast cancer segment has generated the largest revenue share. However, the lung cancer segment is growing at the fastest CAGR during the forecast period.
• Based on the End-User, the hospital segment is expected to sustain its dominance in the market.
• In 2022, North America dominated the market with the highest revenue share of 43.1%, owing to the growing prevalence of melanoma cancer cases in Canada and the U.S.
• The Asia Pacific region is expected to register the fastest CAGR from 2023 to 2030.

Top Market Trends

1. The rising number of cancer patients is a significant driving factor for the Oncolytic Virus Immunotherapy market. Cancer is a major cause of illness and death at a global scale, responsible for roughly one out of every six fatalities, as stated by the World Health Organization (WHO). This high burden of cancer is creating a massive demand for innovative therapies like Oncolytic Virus Immunotherapy.
2. Combination therapies, where Oncolytic Virus Immunotherapy is used with other treatment modalities like chemotherapy, radiation therapy, or immune checkpoint inhibitors, are gaining traction in the market. Improved patient outcomes can be achieved by combining different therapeutic approaches, resulting in synergistic effects. For example, talimogene laherparepvec (T-VEC) is an oncolytic virus therapy approved by the FDA for treating advanced melanoma when injected with immune checkpoint inhibitor pembrolizumab.
3. The Oncolytic Virus Immunotherapy market is witnessing significant investment in R&D activities by pharmaceutical and biotechnology companies. This investment aims to explore new targets, optimize viral vectors, improve safety profiles, and expand Oncolytic Virus Immunotherapy's applications to various cancer types. The number of publications on oncolytic and immunotherapy research increased 400% between 2012 and 2018.
4. Advances in manufacturing techniques, such as viral vector production and purification technologies, have enabled efficient large-scale production of oncolytic viruses. This has reduced the cost of production and made Oncolytic Virus Immunotherapy more accessible.
5. Initially, Oncolytic Virus Immunotherapy was mainly focused on treating melanoma. However, research is being conducted to explore its efficacy in various other cancer types, including breast, lung, prostate, and pancreatic cancers. Over 70 novel cancer therapies have emerged in the last few years, effectively combating over 20 tumors.

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Economic Insights

The Centers for Medicare and Medicaid Services stated that healthcare spending in the United States increased by 9.7 percent in 2020, totaling USD 4.1 trillion, equivalent to USD 12,530 per individual. This accounted for 19.7 percent of the country's Gross Domestic Product. The market for cancer treatment is expected to experience significant growth due to various factors. Major pharmaceutical companies are increasing their investments in developing new approaches to cancer treatment. Government funding is also allocated to increase cancer screening and reduce mortality rates. Additionally, there has been a rise in the approval of immuno-oncology drugs by medical regulators, further contributing to market growth. Recent acquisitions, such as Amgen's agreement to acquire ChemoCentryx for USD 3.7 billion, are helping companies expand their presence in regions like Europe and Asia. The market also benefits from increasing awareness about different cancer treatments, demonstrated by campaigns like the Be Clear on Cancer initiative in the United Kingdom, which aims to promote early cancer detection and raise public awareness.

Market Segmentation

The Global Oncolytic Virus Immunotherapy Market is segmented across segments:

The global Oncolytic Virus Immunotherapy market can be categorized into Product Type, Application, End User, Region. The Oncolytic Virus Immunotherapy market can be categorized into Herpes Simplex Virus, Adenovirus, Vaccinia Virus, Vesicular Stomatitis Virus, Other Product Types based on Product Type. The Oncolytic Virus Immunotherapy market can be categorized into Melanoma, Prostate Cancer, Ovarian Cancer, Lung Cancer, Breast Cancer, Other Applications based on Application. The Oncolytic Virus Immunotherapy market can be categorized into Hospitals, Specialty Clinics, Cancer Research Institutes based on End User. The Oncolytic Virus Immunotherapy market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product Type

Adenovirus to Lead Maximum Market Share Due to Its Efficacy in Targeting and Destroying Cancer Cells

The adenovirus segment dominates with the highest market share in 2022. Adenovirus can infect and kill cancer cells without harming normal cells, and it is the most capable agent utilized in gene-targeted oncolytic virus therapy (GTOVT) due to its various good characteristics. Moreover, the anti-cancer immune response extracted by the oncolytic adenovirus can expand its anti-cancer efficacy, including the metastasis side, contributing to the growth of the loaded cargo segment in the forecast period.

Based on Application

The Breast Cancer segment Expects Dominion, Owing to The Global Prevalence of Breast Cancer Cases and The Significant Advancements In Breast Cancer Treatment

The Breast Cancer segment will dominate with a significant market share in 2022. Breast cancer ranks second in terms of the most diagnosed cancers globally. Unfortunately, existing treatments for metastatic breast cancer are insufficient, often leading to significant side effects impacting patients' quality of life. However, a promising approach known as Oncolytic Virus Cancer Therapy is gaining recognition as a vital tool for combating different types of cancer, including breast cancer. One such treatment is Pelareorep, an oncolytic virus administered unchanged through intravenous delivery. Pelareorep stimulates an immune response in individuals who have survived breast cancer.

Based on End-User

Hospitals to Lead Maximum Market Share Due to The Availability of Advanced Healthcare Infrastructure and The Presence of Skilled Healthcare Professionals

The Hospital segment dominated the industry in 2022, driven by expanding hospitals in developing nations focusing on disease treatment. This growth is fueled by the growing emphasis on practical and timely disease management by patients, as well as the government's investments in medical infrastructure. The hospitals also play a crucial role in collaborating with research centers and pharmaceutical companies to develop and test new immunotherapies, thus consolidating their leading position in the market.

Based on Region

North America to Dominate Global Sales Owing to The Growing Prevalence of Melanoma Cancer Cases, in Canada and the U.S

The North American region dominates with the largest market share in 2022. It is due to the growing prevalence of cancer cases, particularly melanoma cancer, in Canada and the U.S. As per the 2021 report by the American Cancer Society, an anticipated 1.9 million new cancer cases were confirmed, and 608,570 cancer deaths in the U.S. in 2021. Moreover, the presence of key players, high adoption of advanced therapeutics, and growing focus on research and development in the U.S. contribute to the enormous market growth across North America.

The Oncolytic Virus Immunotherapy industry in the Asia Pacific is rapidly gaining popularity due to a significant increase in manufacturing firms of medications for cancer treatment. The introduction of groundbreaking innovations by countries such as China and Japan is fueling the growth of the oncolytic virus therapy market, leading to a significant increase in revenue and earnings.

Competitive Landscape

The Oncolytic Virus Immunotherapy market is highly competitive, with several key players dominating the industry. Major companies in this market include Sorrento Therapeutics Inc., Merck & Co., Inc., and Amgen Inc. These companies focus on research and developing innovative oncolytic virus therapies to gain a competitive edge in the market. In December 2021, Bionaut Labs announced a strategic collaboration with Candel Therapeutics, Inc., investigating using Bionaut’s remote-controlled microscale robots to precisely deliver Candel’s oncolytic viral immunotherapy agents to specific brain tumors.

The key players in the global Oncolytic Virus Immunotherapy market include - Sorrento Therapeutics Inc. (U.S.), Merck & Co. Inc. (U.S.), Amgen Inc. (U.S.), Shanghai Sunway Biotech Co. Ltd. (China), Cold Genesys Inc. (U.S.), Oncolytics Biotech Inc. (Canada), Transgene Biotek Ltd. (India), SillaJen Inc. (South Korea), ORYX GmbH & Co. KG (Germany), Viralytics Ltd. (Australia) among others.

Recent Market Developments

• In January 2022, Siga Technologies announced a preclinical collaboration with Bioarchitech to develop cancer treatment immunotherapy. The research collaboration investigates the TPOXX (tecovirimat) in combination with Bioarchitech’s proprietary ‘vaccinia-based immunotherapy platform, which utilizes engineered antibodies and other proteins within the genome of the oncolytic virus.

Segmentation of the Global Oncolytic Virus Immunotherapy Market