Oncolytic Virus Immunotherapy Market: Rise in Prevalence of Cancer to Drive Global Market
Wilmington, Delaware, United States, Transparency Market Research Inc. – According to Transparency Market Research’s latest report on the global oncolytic virus immunotherapy market for the historical period 2018–2019 and forecast period 2020–20230, promising pipeline is projected to drive the global oncolytic virus immunotherapy market.
Oncolytic viruses are a form of immunotherapy, which uses viruses to infect and destroy cancer cells. Oncolytic viruses are genetically modified to target specific types of cancer cells. These replicate within the cancer cell via a tumor-specific promoter element that is incorporated into the viral genome or in deletions in key portions of the viral genome.
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Rise in Prevalence of Cancer to Drive Oncolytic Virus Immunotherapy Market
Change in lifestyle and dietary habits are risk factors for cancer. Moreover, environmental factors such as asbestos fibers, polynuclear hydrocarbons, metal compounds, and plastic chemicals cause cancer. Hence, increase in burden due to abovementioned factors, population growth, and the changing prevalence of certain causes of cancer linked to social and economic development are expected to boost the growth of the global oncolytic virus immunotherapy market. According to the World Health Organization, in 2018, an estimated 18.1 million new cases of cancer and 9.6 million deaths were reported across the globe.
Focus on Research & Development Propels Oncolytic Virus Immunotherapy Market
Rise in prevalence of cancer leads to increase in demand for newer therapeutics. Hence, key players operating in market are engaged in developing new products and focus on research & development to introduce new products with advanced technologies. For instance, Oncolys BioPharma, Inc. announced the phase 1 study for Telomelysin (OBP-301) of hepatocellular carcinoma (HCC) in South Korea and Taiwan in 2020.
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The development of oncolytic viruses as cancer treatment is moving rapidly. A wide array of viruses are being developed for some of the toughest cancers. This is likely to fuel the growth of the global market.
Limitations of Oncolytic Virus Therapy to Hamper Oncolytic Virus Immunotherapy Market
A number of oncolytic viruses are currently under clinical development. Each oncolytic virus carries the characteristics of the parental wild type virus, not only the advantages, but also the disadvantages. One major concern of oncolytic virus therapy has been that the efficacy may be diminished by the presence of circulating antibodies. Moreover, relative poor intratumoral penetration by the oncolytic viruses, which were modified to have a reduced replicative potential, is one of the major limitations of oncolytic virus. This hampers the growth of market.
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Oncolytic Virus Immunotherapy Market: Competition Landscape
This report profiles major players operating in the global oncolytic virus immunotherapy market based on various attributes and recent developments
The global oncolytic virus immunotherapy market is highly fragmented, with the presence of a number of global as well as regional players
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Leading players operating in the global oncolytic virus immunotherapy market include
- Amgen, Inc.
- Merck & Co., Inc. (Viralytics Limited)
- Shanghai Sunway Biotech Co., Ltd.
- TILT Biotherapeutics
- Oncorus, Inc.
- Replimune Group, Inc.
- Oncolys BioPharma, Inc.
- Sorrento Therapeutics, Inc.
- Oncolytics Biotech, Inc.
- SillaJen, Inc.
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