During the forecast period 2023 to 2033, the oncolytic adenovirus market is expected to grow at a value of 7.5% CAGR, according to Future Market Insights. By the year 2033, the global market for oncolytic adenovirus is expected to rise up to a market valuation of US$ 250 Billion. Growth of the market can be attributed to increasing investments by key players for research and development of medication for oncolytic adenovirus.
The COVID-19 pandemic affected the development of the oncolytic adenovirus owing to the disruption in the research and development of medication. Lack of funds and access to resources to develop and innovate therapies is affecting the growth of the market. On the other hand, post-pandemic, the increasing use of technology in the formation of therapies is positively influencing the growth of the oncolytic adenovirus market.
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The prevalence of people being affected by cancer in North America and Asia Pacific is a key driver for the growth of the oncolytic adenovirus market. Increasing healthcare expenditure and integration of technology to understand the nature and effect of oncolytic adenovirus is propelling the growth of the overall market. In the upcoming forecast period, funding by government and non-government organizations is expected to drive the overall growth of the market.
Key Takeaways :
- The oncolytic adenovirus market is expected to possess 7.5% CAGR in the forecast period 2023-2033
- By application, lung cancer is expected to possess 35% market share for oncolytic adenovirus in 2023.
- North America is expected to possess 43% market share for Oncolytic adenovirus market in 2023.
- Asia Pacific oncolytic adenovirus market size is expected to possess 39% market share in 2023.
“Growing prevalence of cancer amongst all age groups along with technological integration to create therapeutic medication is creating lucrative opportunities for oncolytic adenovirus market.” states a FMI analyst
Competitive Landscape
Key players in the oncolytic adenovirus market are Amgen, Sorrento Therapeutics, Transgene SA, Oncolys BioPharma, Targovax, Lokon Pharma, Vyriad, TILT Biotherapeutics, CG Oncology Inc, VCNBiosciences, DNAtrix, Replimune Group Inc
- Lokon Pharma AB is a Swedish biotech company developing the LOAd platform of oncolytic adenoviruses genetically engineered to express immunostimulatory genes in malignant tumors and tumor stroma.
- TILT Biotherapeutic’s head of R&D Riikka Havunen was awarded oral presentation “Oncolytic adenoviruses armed with tumor necrosis factor alpha and interleukin-2 enable treatment of solid tumors with T cell therapies” at the 16th Cancer Immunotherapy Annual Meeting in Mainz, Germany in May 2018.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Oncolytic adenovirus market, presenting historical analysis from 2017 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Type (HSV-based Oncolytic Viruses, Adenoviruses-based Oncolytic Viruses, Others), Application (Melanoma, Prostate Cancer, Breast Cancer, Ovarian Cancer, Lung Cancer, Others), regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Key Segments :
Type:
- HSV-based Oncolytic Viruses
- Adenoviruses-based Oncolytic Viruses
- Others
Application:
- Melanoma
- Prostate Cancer
- Breast Cancer
- Ovarian Cancer
- Lung Cancer
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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