Cancer has emerged as one of the leading causes of death across the world. With spiralling cases of malignant tumours globally, an increasing requirement for effective cancer therapeutics has emerged. Present treatment options have proved effective but surgical inventions, radiotherapies, chemotherapies, and immunotherapies have their own restrictions. Hence, in order to ensure stable lifestyles for cancer-affected patients, there has been an increased focus on developing new methods of treatment.

Oncolytic viral therapy has been gaining popularity due to its non-pathogenic, targeted, and transformative treatment line. This has ensued multiple oncolytic viruses such herpesvirus, adenovirus, and vaccinia virus to be put under clinical trials. The increasing use of these viruses for treating cancer and aid diagnosis has been a primary contributor to the market growth for oncolytic virus therapy.

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Hospital and Solid Tumour Segments Take Up Popular Shares of Market Growth for Oncolytic Viral Therapy Market

Oncolytic viruses can activate local immune responses, induce T-cell priming and infiltration, and counteract cancer-mediated evasion of the immune system. This has made it possible for these viruses to be used in combinations with various cancer immunotherapies. Due to this reason, tolerability, specificity, and potency of these therapies has increased ten-fold. This is expected to serve as a key driver for generating significant market revenues over the projected period.

Increasing cases of malignant cancer has ensued an escalated use of oncolytic virus. Similarly, lack of existing treatment options for metastatic tumours is instigating aggressive research in the area using oncolytic viruses. In collective gratitude to these factors and developing advancements in oncolytic viral therapies for solid tumours, the market for oncolytic viral therapy is undergoing tremendous growth.

Furthermore, increasing number of patients being admitted to hospitals for cancer treatment is also projected to stimulate market growth. This is due to availability of growing network of hospitals dedicated to cancer treatment, skilled professionals and advanced medical facilities, and increasing investment to accelerate development of robust healthcare infrastructure.

North America Transcends as an Established Region Whereas Countries of APAC Region Expected to Witness Substantial Growth

North America holds a significant share of the market for oncolytic viral therapy. This is due to the presence of a well-established healthcare infrastructure and considerable investments in research and development in the region. Europe as well constitutes satisfactory growth in the area. Asia Pacific is expected to register rapid growth in revenue over the forecast period owing to rising investment to accelerate research and development activities in oncology, rapid adoption of advanced cancer treatment approaches, increasing prevalence of cancer, growing number of clinical trials and preclinical studies for oncolytic viruses, and development of advanced healthcare facilities.

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Major Companies Dominating the Market for Oncolytic Viral Therapy

Some of the major companies with a foothold in the global oncolytic viral therapy market include Oncolytics Biotech, Inc., Amgen Inc., Sorrento Therapeutics, Inc., Transgene SA, Daiichi Sankyo Company, Limited., Shanghai Sunway Biotech Co., Ltd., Takara Bio Inc., PsiOxus Therapeutics, SillaJen, Inc. and ViroCure. These companies are expected to leverage the tremendous potential of research centres to develop indigenous capabilities.

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