Industry Background:
An oncolytic virus is defined as genetically engineered or naturally occurring viruses that selectively replicate in and kill cancer cells without harming the normal tissues. Oncolytic virus therapy is perhaps the next major breakthrough in cancer treatment following the success in immunotherapy using immune checkpoint inhibitors. An oncolytic virus is recognized as a new therapeutic approach for cancer treatment, this has led to significant growth of the global oncolytic virus market in the forecast period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Merck & Co., Inc. (United States), Otsuka Pharmaceutical Co., Ltd. (Japan), Pfizer Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), Cold Genesys, Inc. (United States), Genelux Corporation (United States), Amgen Inc. (United States), Oncolytics Biotech Inc. (Canada), Viralytics (Australia) and Transgene SA (France) |
This growth is primarily driven by Increasing chronic diseases such as cancer, diabetes, epilepsy are the major driver of the global oncolytic virus market. In recent years, the global rate of cancer incidence has increased. Cancer is still a significant factor in threatening human health. Cancer cells use high mutation to evade immune surveillance, gradually forming a low pH, low oxygen microenvironment containing proteolytic enzymes..
Globally, a noticeable market trend is evident Oncolytic Virus are used as new Therapeutic Agents in the Field of Malignant Tumor Treatment Major Players, such as Merck & Co., Inc. (United States), Otsuka Pharmaceutical Co., Ltd. (Japan), Pfizer Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), Cold Genesys, Inc. (United States), Genelux Corporation (United States), Amgen Inc. (United States), Oncolytics Biotech Inc. (Canada), Viralytics (Australia) and Transgene SA (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. According to Patsnap Synapse, as of 24 Sep 2023, there are a total of 364 Oncolytic virus drugs
Key Developments in the Market:
In February 2018,Merck known as MSD outside the United States and Canada, and Viralytics Limited announced that the companies have signed a definitive agreement under which it is proposed that Merck, through a subsidiary, will acquire Viralytics, an Australian publicly traded company focused on oncolytic immunotherapy treatments for a range of cancers by way of a scheme of arrangement (Scheme) for AUD 1.75 cash per Viralytics share.
In November 2021 Daiichi Sankyo Company, Limited (hereafter, Daiichi Sankyo), announced that it has launched DELYTACT® (teserpaturev/G47∆)*1, an oncolytic virus developed by the, company in collaboration with Professor Tomoki Todo (hereinafter, Dr. Todo) of the Institute of Medical and Science, The University of Tokyo.
Regulatory Insights:
The Center for Biologics Evaluation and Research (CBER)/Office of Cellular, Tissue, and Gene Therapies (OCTGT) is issuing this guidance, sponsors of virus or bacteria-based gene therapy products (VBGT products) and oncolytic viruses or bacteria (oncolytic products) with recommendations on how to conduct shedding studies during preclinical and clinical development.
Influencing Trend:
Oncolytic Virus are used as new Therapeutic Agents in the Field of Malignant Tumor Treatment
Market Growth Drivers:
Increasing chronic diseases such as cancer, diabetes, epilepsy are the major driver of the global oncolytic virus market. In recent years, the global rate of cancer incidence has increased. Cancer is still a significant factor in threatening human health. Cancer cells use high mutation to evade immune surveillance, gradually forming a low pH, low oxygen microenvironment containing proteolytic enzymes.
Challenges:
Choice of virus platform.
Restraints:
Strict Government Norms and Regulations
Opportunities:
Rising Healthcare Spending in Developed and Developing Economies and Increasing Research and Development in the Cancer Drugs
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Oncolytic Virus Market
- Analysis about New Entrants in Oncolytic Virus Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Oncolytic Virus Study Sheds Light on
The Oncolytic Virus Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Oncolytic Virus industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Oncolytic Virus industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.