The global oncolytic viral therapy market is experiencing significant growth, driven by the escalating prevalence of cancer worldwide. Despite the development of numerous cancer treatment regimens over the years, the need for novel interventions remains high. Oncolytic viral therapies, which utilize genetically altered live viruses to target cancer cells and activate the body’s immune system, are emerging as highly effective and safe alternatives to traditional chemotherapy. Recent approvals from the US Food and Drug Administration (FDA) have given a substantial boost to this market. Currently, only two oncolytic viral therapies are on the market, highlighting the unique capabilities and assets required to work with live viruses in cancer treatment.
Expanding Scope with High Incidence Rates
Cancer encompasses over 20 different indications, with a significant portion of revenue generated from just five major types: breast cancer, multiple myeloma, non-small-cell lung carcinoma (NSCLC), prostate cancer, and non-Hodgkin’s lymphoma (NHL). These cancers have high incidence rates and unmet treatment needs, accounting for approximately 65% of the market in 2020. Additionally, common cancer types such as brain, head & neck, skin, thyroid, pancreatic, bladder, kidney and renal pelvis, and soft tissue cancers present substantial opportunities for oncolytic viral therapy. Women’s health is also a focus, with breast, lung, and colon/rectum cancers expected to collectively represent 50% of all new cancer diagnoses by 2026.
Oncology Dominates R&D Investment
Oncology is at the forefront of research and development (R&D) expenditure, with the highest number of novel FDA approvals predicted in the US pipeline. The projected total clinical development spend in the US is estimated at US$ 82.0 billion, and oncology commands a significant portion of this expenditure, constituting 37.4% of total pipeline spending and 28.7% of total FDA approvals. This area witnesses extensive therapeutic development efforts and significant investments. The first FDA approval for oncolytic viral therapy, Imlygic, was granted in 2015 for the treatment of melanoma lesions and lymph nodes. Oncorine, another oncolytic virus, is available in China, marking significant progress in this field.
Challenges Amid the Pandemic
The COVID-19 pandemic has posed challenges to the oncology sector, with a decrease in cancer screening, disruptions in the supply of cancer drugs, and decreased demand for physician-administered products. The Lancet reported a ~60% decrease in new clinical trials for cancer drugs and biological therapies during the pandemic. In the US, cancer screening tests between March and June 2020 dropped to 15,453 from 60,344 in the same period of 2019. Emergency hospitalizations for COVID-19 patients have also impacted oncology drug sales.
North America Leads Global Market
North America, particularly the United States, leads the global oncolytic virus immunotherapy market. The high prevalence of cancer, robust R&D spending by leading companies, and a growing number of cancer survivors make the US a prominent market. As of January 2019, there were approximately 16.9 million cancer survivors in the US, with projections estimating 22.2 million by 2030. The cost of cancer care in the US was around US$150.8 billion in 2018, with expected increases due to rising cancer diagnoses and the adoption of more expensive treatments.
Strategic Collaborations Drive Market Growth
Key players in the global oncolytic viral therapy market are actively pursuing collaboration opportunities to strengthen their market positions and enhance market penetration. Recent examples include Turnstone Biologics Corp.’s acquisition of Myst Therapeutics and Merck & Co.’s acquisition of Viralytics. Major players in this market include Amgen, Inc. (BioVex, Inc.), Cold Genesys, Inc., Genelux Corporation, DNAtrix Therapeutics, Oncolytics Biotech, Inc., Lokon Pharma AB, Sorrento Therapeutics, Inc., ORYX GmbH & Co. KG, Takara Bio, PsiOxus Therapeutics, SillaJen, Inc., Viralytics Ltd. (Merck & Co., Inc.), Turnstone Biologics, Vyriad, and Shanghai Sunway Biotech.
Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2029) https://www.fairfieldmarketresearch.com/report/oncolytic-viral-therapy-market
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