Oncolytic Virus Therapy Market Size to Reach USD 866.1 Million by 2028 | Growing Awareness About Early Cancer Detection is a Significant Factor Driving Industry Growth, says Emergen Research

By Globe Newswire10 days ago

Vancouver, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The global oncolytic virus therapy market size is expected to reach USD 866.1 Million at a steady CAGR of 23.9% in 2028, according to latest analysis by Emergen Research. Robust growth of the oncolytic virus therapy market can be attributed to growing geriatric population. Aging is a major factor accountable for cancer incidence, and prevalence increases drastically with age, particularly owing to rise in specific cancer associated risks that increase as individuals grow older and cellular repair mechanisms getting less effective. According to estimation for 2019, around 140,000 cancer cases were diagnosed in the US, and around 103,000 deaths occurred in individuals aged 85 years or above.

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Some Key Highlights in the Report

  • In January 2021, Turnstone Biologics Corporation, which is a biotechnology firm focusing on cancer immunotherapies, announced the acquisition of Myst Therapeutics, which is a US-based private biotechnology firm engaged in innovative T-cell therapy advancements for solid tumors.
  • Talimogene laherparepvec, which is a genetically engineered herpes simplex virus, is the only FDA approved oncolytic virus for treating melanoma.
  • Immune checkpoint inhibitors provide various advantages such as greater survival time, commercial availability, and high potency against tumors. Various cancer types, including lung, breast, cervical, bladder, liver, stomach, colon, skin, and rectal cancer, have been found offer positive response when treated with checkpoint inhibitors. Checkpoint inhibitors function by blocking checkpoint proteins from binding with tumor cell proteins, thereby enabling the T cells to destroy cancer cells.
  • According to a report ...

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