Oncolytic Virus Therapy Market to Grow with a CAGR of 27.29% During 2021-2028

 Research Nester has released a report titled “Oncolytic Virus Therapy Market: Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

In the year 2020, deaths caused to cancer was estimated to be around 10 Million, according to the statistics by the World Health Organization.

With the rising cases of cancer globally, there is an increasing need amongst the healthcare specialists for advanced cancer detection and treatment procedures, which is one of the major factors anticipated to drive the growth of the global oncolytic virus therapy market. The increasing healthcare expenditure and the rapid surge in the approvals of immune-oncology drugs by the medical fraternities, such as the United States Food and Drug Administration (FDA), are some of the additional factors projected to drive the market growth.

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The global oncolytic virus therapy market is estimated to grow with a CAGR of 27.29% over the forecast period, i.e., 2021 – 2028. The market is anticipated to garner a revenue of USD 1062.7 Million by the end of 2028, up from a revenue of USD 160.4 Million in the year 2019. Based on therapy type, the market is segmented into HSV-based oncolytic virus therapy, adenovirus-based oncolytic virus therapy, reovirus, poxviruses, Newcastle disease virus (NDV), and others. Amongst these segments, in the year 2019, the adenovirus-based oncolytic virus therapy segment held the highest market share of 30.2%, and is further expected to hold significant market share in the coming years.

On the basis of region, the global oncolytic virus therapy market is segmented into North America, Europe, Asia Pacific, and the Rest of World, out of which, the market in North America is projected to attain the largest market revenue of USD 509.4 Million by the end of 2028 and also grab the highest market share throughout the forecast period. Moreover, in the year 2019, the market in the region registered a revenue of USD 68.5 Million.

However, the high cost of cancer drug development is one of the major factors anticipated to hamper the market growth.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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This report also provides the existing competitive scenario of some of the key players of the global oncolytic virus therapy market, which includes company profiling of Amgen Inc., Shanghai Sunway Biotech Co., Ltd., Oncolys BioPharma Inc., TILT Biotherapeutics Ltd., Oncorus, Inc., Takara Bio Inc., Vyriad, Transgene sa, Lokon Pharma AB, Pfizer Inc., and others.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Oncolytic Virus Therapy Market: Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall global oncolytic virus therapy industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global oncolytic virus therapy market in the near future.

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About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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