Oncolytic virus therapy utilizes viruses that can selectively infect and kill cancer cells while leaving healthy cells unharmed. It has advantages of targeted tumor cell destruction and potential synergy with other therapies. The technology enables safe and effective treatment of different cancer types through replication-competent viruses.
The Global Oncolytic Virus Therapy Market is estimated to be valued at US$ 10.82 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 To 2031.
Oncolytic Virus Therapy Market Demand uses genetically engineered viruses that can selectively replicate in and kill tumor cells while sparing normal cells. It offers potential better efficacy and safety compared to conventional cancer treatments. Oncolytic viruses destroy tumor blood vessels to cut off nutrients supply and alert the immune system to find and destroy any remaining cancer cells. The treatment is being developed for various cancers including melanoma, lung cancer, prostate cancer and more.
Key Takeaways
Key players operating in the Oncolytic Virus Therapy are Albea, Amcor, Essel Propack, Huhtamaki, Montebello Packaging, Sonoco Products, ALLTUB, Linhardt, Auber Packaging, Antilla Propack, Universal Metal Products, D.N.Industries, Perfect Containers, Jiujiang Deshun Adhesives, Andpak, CONSTRUCT Packaging, Adelphi Healthcare Packaging, IntraPac International, Hubei Xin Ji Pharmaceutical Packaging, World Wide Packaging. The increasing incidence of cancer globally is propelling the demand for advanced treatment options like oncolytic virus therapy. Rapid advances in viral vector engineering, cancer immunotherapy and combination therapies have enabled wider clinical application and commercialization of oncolytic virus therapy.
Market Trends
The key market trends in the oncolytic virus therapy industry include growing popularity of gene therapy viruses and development of targeted viruses. Gene therapy viruses are being researched extensively that are engineered to deliver therapeutic genes to treat cancer. Targeted viruses are being engineered using genetic modifications to specifically recognize receptors on tumor cells for improved therapeutic index. Another trend is the development of combination therapies using oncolytic viruses along with chemotherapy, radiation, immune checkpoint inhibitors for synergistic anti-tumor effects.
Market Opportunities
Major market opportunities in the oncolytic virus therapy market include its application in pediatric cancers, development of personalized vaccines and engineering multi-mechanistic viruses. Oncolytic virus therapy shows promise for hard-to-treat pediatric cancers. Engineering of personalized therapeutic cancer vaccines using patient's own tumor samples also presents an opportunity. Development of viruses acting through multiple anti-tumor mechanisms can further improve the efficacy of oncolytic virus therapy.
Impact of COVID-19 on Oncolytic Virus Therapy Market Growth
The COVID-19 pandemic has significantly impacted the growth of the oncolytic virus therapy market. During the initial wave of the pandemic in early 2020, many cancer clinical trials and academic research projects got postponed or cancelled as global healthcare resources shifted focus towards COVID-19 treatment and management. This led to reduced data generation needed for the development and regulatory approval of oncolytic virus therapy products. Patient enrollment in existing clinical trials also reduced significantly due to lockdowns and restrictions on intercity/interstate travel. Social distancing requirements further hampered physicians' abilities to screen and recruit new patients. Supply chain disruptions caused shortages of critical materials required by biopharmaceutical companies for their R&D activities. All these factors cumulatively slowed down the oncology pipeline progress and new product development.
Post pandemic however, the market is witnessing positive recovery signs as clinical trials resume operations with enhanced safety protocols. The urgent need to develop more effective and targeted cancer therapies has also gotten emaphasised due to COVID-19 exposing the vulnerabilities in healthcare systems worldwide. This is driving increased investments by biotech firms into oncolytic virus research with a focus on speeding up clinical studies. Telemedicine has also emerged as an important tool enabling remote patient management and trial participation. With vaccination drives progressing well across major markets, the oncolytic virus therapy industry is poised to get back on a high growth trajectory in the coming years supported by rapid approval and adoption of novel candidates.
North America accounts for the largest share of the oncolytic virus therapy market in terms of value. This is attributed to presence of major biopharma companies, strong pipeline of experimental candidates and widespread health insurance availability supporting advanced cancer treatments uptake in the US. Europe holds the second largest regional market supported by strategic funding towards oncolytic virus R&D from organizations such as European Commission and European Innovation Council. The Asia Pacific region is recognized as the fastest growing market and expected to witness highest CAGR during the forecast period owing to rapidly developing healthcare infrastructure, increasing cancer incidence, growing medical tourism and rising disposable incomes in developing countries like India and China.
Oncolytic Virus Therapy Market - Fastest Growing Region
The Asia Pacific region represents the fastest growing regional market for oncolytic virus therapy globally. This is attributed to various factors:
Rising Cancer Burden: Asia Pacific countries have witnessed rising incidence of cancer due to rapidly changing lifestyle patterns, growing adoption of tobacco/alcohol and inadequate physical activity among the population. Cancers linked to infections like hepatitis and human papillomavirus are also more common. This growing disease prevalence is driving increased demand for targeted therapy options like oncolytic virus.
Increasing Healthcare Expenditure: Governments across major APAC economies have given a major boost to healthcare investment with a focus on strengthening biopharmaceutical R&D and modernizing medical infrastructure. This allows for higher accessibility and affordability of advanced treatment modalities.
Favorable Regulations: Countries like India and China have formulated industry-friendly guidelines to facilitate fast market approval of novel oncology drugs including genetically engineered viral therapeutics. This provides global players an attractive regulatory environment for regional product launches and clinical trials.
Presence of Low-Cost Manufacturing Hubs: India and China have emerged as the pharmaceutical manufacturing powerhouses owing to a large talent pool of scientists and lowest production costs globally. This allows biopharmas to locally manufacture complex viral products at competitive prices and expand operations in the Asia Pacific region.
Rising Medical Tourism: APAC destinations like Thailand, India, South Korea witness influx of international cancer patients seeking affordable yet quality care. This industry generates ample demand for cutting-edge treatments like oncolytic virus therapy in the overall market.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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