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The oncolytic virus immunotherapy involves the use of viruses to infect and subsequently eliminate cancerous cells. Cancer cells are known to exhibit impaired antiviral defenses, which make them more susceptible to infections than normal cells of the body. Oncolytic viruses are engineered in such a way that they have decreased ability to infect healthy cells and simultaneously deliver therapeutic payloads to tumor cells. This, in turn, increases the production of immune-boosting molecules. Post infection, oncolytic viruses cause the cancer cells to burst, eventually eradicating the cells. This further leads to the release of cancer antigens that can stimulate immune responses. Moreover, cancer antigens help in eliminating remaining tumor cells within the body.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the oncolytic virus immunotherapy market.
Exponential rise has been witnessed in the number of cancer cases globally, due to poor lifestyle and exposure to carcinogens in many forms. This has encouraged pharmaceutical companies to invest in advanced therapeutics.
Oncolytic virus immunotherapy has been a pioneer in the therapeutic market and has significant competitors, as a large number of therapies are in pipeline to be developed.
Moreover, significant increase in investment in R&D in the field of oncolytic virus immunotherapy, changes lifestyles in developing economies, and surge in geriatric population are expected to boost the growth of the market during the forecast period.
However, rise in prevalence of treatment-related side effects & off-target effects as well as increase in risk of drug resistance restrain the growth of the global oncolytic viruses immunotherapy market.
In addition, lack of therapy-specific assay and high cost of therapies remain to be the key issues that need to be addressed for future growth.
On the contrary, upsurge in number of clinical trials, and increase in research funding are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
Oncolytic virus immunotherapy is an overlapping biomedical research field with the therapeutic goal to target DNA or RNA outside or inside the body. This therapy modifies the genetic material for the treatment of a disease.
The trends of oncolytic virus immunotherapy market are as follows:
Key Benefits of the Report
Questions Answered in the Global Oncolytic Virus Immunotherapy Market Report
Key Market Segments
Key Market Players