Research Nester published a report titled “Adenovirus Based Virotherapy Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global adenovirus-based virotherapy market in terms of market segmentation by pipeline therapy, application, treatment, and by region.
The global adenovirus based virotherapy market is expected to garner a large revenue by growing at a robust CAGR throughout the forecast period, i.e., 2022 – 2030, owing to the increasing occurrence of cancer globally and growing number of clinical trials in developed nations to formulate efficient oncolytic virotherapy. Furthermore, rising number of R&D activities regarding adenovirus and high demand for vector-based therapies are also estimated to fuel the expansion of market in the coming years.
The market is segmented on the basis of pipeline therapy, application and treatment. By treatment, the imlygic segment is anticipated to grow at a considerable rate during the forecast period in view of the efficacy of this treatment to infect cancer cells by stopping their growth and generating a systematic immune response. Additionally, based on application, the solid tumors segment is expected to gather the largest revenue in the coming years ascribing to the increasing number of cases of breast, lung and prostate cancers.
Regionally, the global adenovirus based virotherapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is expected to observe the highest growth in the market during the forecast period, which can be attributed to the accelerated approvals of Asian cell and gene therapy, growing healthcare needs of the people and rising investment to develop regenerative medication in the region.
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Growing Number of Cancer Cases Worldwide to Drive Market Growth
One of the biggest risk factors of cancer is growing age. More than three-fourths of the people diagnosed with cancer are 60 years or older. As the geriatric pollution of the world is increasing at an extremely rapid pace, the prevalence of cancer is also rising. Moreover, growing population of alcohol and tobacco consuming population is also growing. These factors are projected to boost market growth in the forthcoming years.
However, high cost of the virotherapy is expected to operate as key restraint to the growth of the adenovirus based virotherapy market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global adenovirus based virotherapy market which includes company profiling of Merck Sharp & Dohme Corp., Amgen Inc., Vibalogics GmbH, Oncolytics Biotech, Inc., Transgene SA, PSIOXUS THERAPEUTICS LIMITED, Sorrento Therapeutics, Inc., Targovax ASA, Lokon Pharma AB, Genelux Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the adenovirus based virotherapy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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