Oncolytic virus therapy is a promising approach to cancer treatment that utilizes modified viruses to selectively target and destroy cancer cells while sparing healthy cells. The concept for viruses for cancer treatment dates back to the early 20^th century, when researchers observed tumor regression in patients with viral infections. The field gained momentum in the 1990s with advancements in genetic engineering, enabling scientists to modify viruses to enhance the tumor-specificity and therapeutic efficacy. Oncolytic viruses can infect cancer cells, replicate within them, and induce cell lysis or stimulate immune responses against the tumor. Ongoing research focuses on optimizing viral platforms, developing combination therapies, and expanding the application of oncolytic virus therapy to various cancer types. Collaborations between academia, pharmaceutical companies, and research institutions drive the development of novel oncolytic virus therapies and hold promise for advancing cancer treatment approaches.

Market Dynamics:

The global oncolytic virus therapy market is witnessing strong growth on account of growing advancements in viral engineering, increasing understanding of cancer biology, successful clinical trial results, and the need for innovative cancer treatments. Moreover, exploring new cancer indications, combining therapies for improved outcomes, personalized medicine approaches, and the development of next-generation viruses with enhanced characteristics are expected to bring bright market opportunities in the near future. The market trends include advancements in virotherapy platforms, targeted delivery systems, immune modulation strategies, and addressing manufacturing and commercialization challenges in the field. Moreover, market players are focused on developing novel drugs by collaborating, which is expected to drive the growth of global oncolytic virus therapy market. For instance, on June 29, 2023, Genelux Corporation, a late clinical-stage biopharmaceutical company, and TVAX Biomedical, Inc., a late clinical-stage biopharmaceutical company, announced that the U.S. Patent and Trademark Office granted a patent claiming methods of combining vaccine-enhanced adoptive T cell therapy with oncolytic virus adjunct therapy. The patent has been exclusively licensed to V2ACT Therapeutics, LLC, a joint venture between Genelux and TVAX that was established for the purpose of developing and testing V2ACT immunotherapy. The patent expiry, prior to any patent term extension, will be in 2036 and will add substantial intellectual property protection for V2ACT immunotherapy.

However, limited clinical evidence, delivery and distribution challenges, high costs associated with treatment, and side effects of treatment are expected to hamper market growth. Overcoming these challenges is essential to maximizing the efficiency and broader adoption of oncolytic virus therapies.

Key features of the study:

• This report provides in-depth analysis of the global oncolytic virus therapy market, and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global oncolytic virus therapy market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study Amgen Inc., Merck & Co., Inc., Oncolytics Biotech Inc., Circio Holding ASA, Akamis Bio, Vyriad, Inc., SillaJen Biotherapeutics, Cold Genesys Inc., Sorrento Therapeutics, Inc., Takara Bio Inc., Replimune Group Inc., Genelux Corporation, Synthetic Biologics, Inc., Lokon Pharma AB, and Elicera Therapeutics.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global oncolytic virus therapy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global oncolytic virus therapy market

Detailed Segmentation:

• Global Oncolytic Virus Therapy Market, By Product Type:
• • Herpes simplex virus
  • Adenovirus
  • Vaccinia virus
  • Reovirus
  • Measles virus
  • Others (Newcastle disease virus, Vesicular stomatitis virus)
• Global Oncolytic Virus Therapy Market, By Application:
• • Melanoma
  • Breast cancer
  • Head and neck cancer
  • Bladder Cancer
  • Prostate Cancer
  • Lung Cancer
  • Others (Colorectal Cancer, and among Others)
• Global Oncolytic Virus Therapy Market, By Development Stage:
• • Commercial
  • Pipeline Phase
    • Pre-clinical
    • Phase I
    • Phase II
    • Phase III
• Global Oncolytic Virus Therapy Market, By Distribution Channel:
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Global Oncolytic Virus Therapy Market, By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles:
• • Amgen Inc.
  • Merck & Co., Inc.
  • Oncolytics Biotech Inc.
  • Circio Holding ASA
  • Akamis Bio
  • Vyriad, Inc.
  • SillaJen Biotherapeutics
  • Cold Genesys Inc.
  • Sorrento Therapeutics, Inc.
  • Takara Bio Inc.
  • Replimune Group Inc.
  • Genelux Corporation
  • Synthetic Biologics, Inc.
  • Lokon Pharma AB
  • Elicera Therapeutics