Oncolytic Virus Immunotherapy Market-By Type, By Application (Hospital, Clinic, etc.) and Region-Forecast | By SDKI

The oncolytic virus immunotherapy market is estimated to reach US $ 191.07 million by 2030 from a market value of US $ 86.43 million in 2022, growing at a CAGR of 12.00% during the 2022-2030 forecast period. It is expected that.

With advances in medicine and technology, immunotherapy is at the forefront of modern tumor treatment. For this reason, the deployment of oncolytic virus immunotherapy has witnessed consistent growth. It is a series of immunotherapies that primarily target the three layers of tumor biology, including the immune system, and have gained considerable traction with promising outcomes. In addition, the development of anti-cancer therapies has focused primarily on providing customized therapies for cell targets.

Promising results during early-stage clinical trials with oncolytic virus immunotherapy are expected to play an essential role in boosting market growth. In addition, key players are focusing on strategies such as product launches, innovations and M & A to keep themselves in the fierce competition. In addition, ongoing clinical trials, advances in oncolytic virus immunotherapy, and the imposition of regulations on oncolytic virus immunotherapy will drive the growth of the oncolytic virus immunotherapy market during the 2022-2030 forecast period. It is expected that. However, the failure of these molecules in the late stages of clinical development may be flat for companies doing business in the market. This could impede the growth of the oncolytic virus immunotherapy market during the 2022-2030 forecast period.

Global market growth can be attributed to various significant advances in the healthcare industry to promote health through the development of three basic parameters: detection, prevention, and treatment. These parameters are needed to measure health, quality of life, and the overall health system. In addition, rising medical costs are driving market growth. According to the Organization for Economic Co-operation and Development (OECD) statistics, Japan’s total per capita health care costs (government, compulsory health insurance, voluntary health insurance) increased from US $ 4297.13 in 2016 to US $ 4823 in 2019. Similarly, in the United States, it increased from $ 9880.16 to $ 11072 in 2019. Germany has witnessed an increase from $ 5668 to $ 6646, and the United Kingdom has observed growth from $ 3990 to $ 4653.05 during the above period. Globally, healthcare costs are projected to grow at a CAGR of approximately 5% between 2020 and 2024.

Advances in the healthcare sector are estimated to provide lucrative business opportunities for key players to take advantage of these opportunities in the coming years. In addition, some initiatives taken by healthcare professionals and government agencies to overcome some challenges (unreachable and affordable medical services, lack of medical investment, trained doctors and nurses, etc.) It is expected to boost market growth during the forecast period.

Oncolytic virus immunotherapy market segment

The oncolytic virus immunotherapy market is divided by type (engineering oncolytic virus and wild-type oncolytic virus), application (hospital, clinic, and outpatient surgery center) and region. These segments are further subsegmented based on a variety of factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional overview of the oncolytic virus immunotherapy market

The North American region is a major region of the oncolytic virus immunotherapy market during the forecast period. This is due to the high prevalence of cancer, especially melanoma. The strong presence of major manufacturers and the high sponsorship of manufacturers are also driving the growth of the market in the region. This has helped increase the availability of oncolytic virus immunotherapy in the region. Meanwhile, the oncolytic virus immunotherapy market in the Asia-Pacific region is expected to show the highest growth rate / CAGR during the forecast period (2022-2030).

These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore, Other Asia Pacific); Latin America (Brazil, Mexico, Argentina, etc.) Latin America); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy) , Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.

A key player in the oncolytic virus immunotherapy market

Leading key players in the oncolytic virus immunotherapy market include Merck, Amgen, TILT Biotherapeutics, Oncorus, Sorrento Therapeutics, Shanghai Sunway Biotech, BioVex, Inc., Cold Genesys, Inc., DNAtrix Therapeutics and Genelux Corporation. .. The study includes a detailed competitive analysis of these leading companies in the oncolytic virus immunotherapy market, company profiles, recent developments, and key market strategies.

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