Oncolytic virus immunotherapy represents a new area of cancer therapy. This oncology immunotherapy utilizes virus’s ability in selectively replicating and killing tumor tissue. They are the special types of viruses which favorably infect cancer cells. Oncolytic viruses are deployed as a part of cancer immunotherapy. Oncolytic virus immunotherapy also regulates the specific immune response of a cancer patient. The effectiveness of oncolytic virus immunotherapy was first detected in the treatment of skin melanoma. Other cancer treatments such as chemotherapy and conventional radiation therapy have restricted in many countries due to a wide array of their side effects. Oncolytic virus immunotherapy is widely adopted in treating various types of cancers including advanced inoperable melanoma. Such USPs are driving the global oncolytic virus immunotherapy market.
Going forward, the global oncolytic virus immunotherapy is anticipated to rise at a solid pace. The global oncolytic virus immunotherapy market is projected to register an impressive CAGR during the forecast period. This has been stated in report on the market by Transparency Market Research.
Growing Demand for Low Toxic Cancer Treatment Fuels Market’s Growth
The main purpose of finding an effective and new cancer therapy is because of the multiple side-effects caused by traditional radiotherapy and chemotherapy. The only common side effects of oncolytic virus immunotherapy are cellutus. Rising number of cancer cases globally, and burgeoning population suffering from infectious diseases are fueling demand in the global oncolytic virus immunotherapy market. Apart from this, rapid lifestyle change in developing countries is the major reason for developing life-threating diseases such as cancer. Such factors are expected to propel demand for better diagnosis and cancer prevention in the future, which in turn is also boosting the global oncolytic virus immunotherapy market. Along with this, governments’ investments in research and development for alternate therapies of cancer treatment, and growing demand for low toxic cancer treatments are also propelling expansion in the global oncolytic virus immunotherapy market.
Recently, Cold Genesys has bagged $22mn by advancing its oncolytic immunotherapy for bladder cancer. The company is currently testing the effectiveness of oncolytic virus immunotherapy – CG0070, as a monotherapy for non-muscle invasive bladder cancer. Along with this, the company is also approaching a preclinical work where they combined the treatment with an immune checkpoint modulator in muscle-invasive bladder cancer. Cold Genesys is hoping for CG0070 to become an effective treatment option for non-muscle invasive bladder cancer patients. Such approaches are also boosting the global oncolytic virus immunotherapy market.
Increasing Incidences of Melanoma to Boost Oncolytic virus immunotherapy Market
Skin melanoma is rapidly increasing due to the inevitable changes in the environment. Such factors are also leading to increase case of numerous cutaneous malignancies which also include non-melanoma skin cancer. Along with this, rising global warming and various aggressive marketing strategies are also responsible for causing skin cancer. Development of new cancer therapy such as oncolytic virus immunotherapy have the higher potency than other conventional treatments towards the cancerous cells of melanoma. Such factors are fueling demand in the global oncolytic virus immunotherapy market.
Flourishing Healthcare Industry in Asia Pacific to Contribute to Market Demand
Geographically, Asia Pacific is leading the global oncolytic virus immunotherapy market as the region has seen rapid establishment of healthcare industry. Rising prevalence of cancer, increasing disposable income, and growing emphasis on research and development in healthcare sector are also responsible for fueling the oncolytic virus immunotherapy market in this region.
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