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How has the oncolytic virus therapy market grown over the years?

The market scale of oncolytic virus therapy has seen exponential growth in the past few years. The market is projected to expand from $0.19 billion in 2024 to $0.23 billion in 2025, with a compound annual growth rate (CAGR) of 25.4%. Factors contributing to the historical market growth include advancements in genetic engineering methods, a heightened comprehension of the tumor microenvironment, successful clinical trials and regulatory authorization, the prominence of immunotherapy in cancer management, and progress in gene delivery technologies.

What Is the forecasted market size and growth rate for the oncolytic virus therapy market?

It is projected that the oncolytic virus therapy market will experience rapid expansion in the coming years, eventually reaching a market worth of $0.55 billion in 2029, with a compound annual growth rate of 23.7%. Various factors, such as the growth of oncolytic virus platforms, the combined treatments with immune checkpoint inhibitors, the development of personalized medicine approaches, an increase in clinical trials, and regulatory backing and guidelines contribute to this foreseen growth. Trends likely to stimulate the growth of the market during this forecast period consist of innovation in delivery systems, strides in synthetic biology, partnerships and collaborations within the biopharmacological industry, advances in virology and immunology, and a focus on pediatric oncology.

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What are the major factors driving growth in the oncolytic virus therapy market?

The rising number of cancer diagnoses is projected to fuel the expansion of the oncolytic virus therapy market. Cancer denotes a set of illnesses marked by the uncontrolled proliferation and diffusion of abnormal cells within the body. Oncolytic virus therapy has the capacity to selectively aim at and eliminate cancer cells, while also eliciting an immune response against the tumor. This dual-action methodology is promising for effective cancer treatment. For example, in January 2023, data from the American Cancer Society Inc., a nonprofit organization based in the US, predicts that there will be 609,820 cancer-related fatalities and 1,958,310 new cancer diagnoses in the US during 2022. Thus, the escalating prevalence of cancer diagnoses continues to spur the growth of the oncolytic virus therapy market.

What key areas define the segmentation of the global oncolytic virus therapy Market?

The oncolytic virus therapy market covered in this report is segmented –

1) By Therapy Type: HSV-Based Oncolytic Virus Therapy, Adenovirus-Based Oncolytic Virus Therapy, Reovirus, Poxviruses, NDV (Newcastle Disease Virus), Other Therapy Types

2) By Virus Type: Genetically Engineered Oncolytic Viruses, Oncolytic Wild-Type Viruses

3) By Application: Breast Cancer, Lung Cancer, Prostate Cancer, Melanoma, Brain Tumor, Blood Cancer

4) By End-User: Hospitals, Specialty Clinics, Cancer Research Institutes

Subsegments:

1) By HSV-Based Oncolytic Virus Therapy: Talimogene Laherparepvec (T-VEC), Other HSV-Based Therapies

2) By Adenovirus-Based Oncolytic Virus Therapy: Onyx-015, AdV-5/3-D24, Other Adenovirus-Based Therapies

3) By Reovirus: Reolysin, Other Reovirus Therapies

4) By Poxviruses: JX-594 (OncoVac), Other Poxvirus Therapies

5) By NDV (Newcastle Disease Virus): NDV-Based Therapies, Other NDV Applications

6) By Other Therapy Types: Combination Therapies, Other Emerging Oncolytic Virus Therapies

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What are the top market players propelling the growth of the oncolytic virus therapy industry?

Major companies operating in the oncolytic virus therapy market include Pfizer Inc., Johnson & Johnson, Sorrento Therapeutics Inc., AbbVie Inc., AstraZeneca plc, Amgen Inc., Boehringer Ingelheim Group, Regeneron Pharmaceuticals, Daiichi Sankyo Company Limited, Kissei Pharmaceutical Co. Ltd., Takara Bio Inc., Oncorus Inc., Replimune Inc., Vyriad Inc., Genelux Corporation, Oncolys BioPharma Inc., Adze Biotechnology, Oncolytics Biotech Inc., TILT Biotherapeutics Ltd., Transgene SA, Circio Holding ASA, Lokon Pharma AB, Provectus Biopharmaceuticals Inc., Vibalogics

What are the key trends shaping the future of the oncolytic virus therapy market?

Key players in the oncolytic virus therapy market are focusing on obtaining necessary regulations to speed up the launch of novel cancer therapies. These regulatory approvals are part of a process in which health agencies assess and sanction medical products, including drugs, biologics, and medical equipment, for use on the market. For instance, ImmVira, a biotechnology firm based in China, was granted Fast Track approval by the FDA in March 2024 for its MVR-T3011 IT oncology virus therapy. This treatment targets recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) in patients who have undergone disease progression following platinum-based chemotherapy and at least one prior line of anti-PD-1/PD-L1 therapy. The Fast Track designation aims to accelerate the development and review process for therapies that address severe conditions lacking adequate medical solutions.

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What regions are dominating the oncolytic virus therapy market growth?

North America was the largest region in the oncolytic virus therapy market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the oncolytic virus therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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