Herpes Simplex Virus Treatment Market size was over USD 2.64 billion in 2023 and is projected to exceed USD 6.92 billion by 2036, witnessing over 7.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of herpes simplex virus treatment is assessed at USD 2.8 billion.
The growth of the market can be attributed to the growing prevalence of rare kinds of cancer, and the growing demand for better and more effective treatments for cancer. According to the data by the World Health Organization (WHO), cancer is the second leading cause of death and caused over 10 million deaths in 2020. The virotherapy is a new approach for treatment of various diseases which do not have any existing cures. In Herpes simplex virus treatment, herpes simplex virus is mutated in a controlled environment and is used to destroy the cancerous cells in the patient’s body. Moreover, increasing research and development in medical science, along with mounting investment by major pharmaceutical companies to develop new treatment approach, is estimated to boost the market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.7% |
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Base Year Market Size (2023) |
USD 2.64 billion |
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Forecast Year Market Size (2036) |
USD 6.92 billion |
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Regional Scope |
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The global Herpes simplex virus treatment market is segmented by type into anti-cancer oncolytic viruses, viral vectors gene therapy and viral immunotherapy, out of which, the anti-cancer oncolytic viruses segment is anticipated to hold the largest share in the market during the forecast period on account of growing investment in developing treatment methods for cancer backed by mounting cases of cancer. As per other report by the WHO, in 2020, Lung cancer was the cause of 1.80 million deaths, whereas 935 000 deaths were caused by colon and rectum cancer; liver cancer was responsible for 830 000 deaths of the total deaths and breast cancer caused 685000 deaths. Furthermore, increasing government funding to increases cancer screening, and curb the cases of cancer mortality, is estimated to boost the market growth. On the basis of end-user, the market is segmented into hospital, research center, specialty clinics, and others. Out of these, the research center segment is estimated to garner the major share over the forecast period owing to the ongoing clinical research on virotherapy with HSV.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Application |
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By End-User
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North America Market Statistics
Regionally, the global herpes simplex virus treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to hold largest revenue share by 2036, on the back of high government investment in this sector, along with presence of leading pharmaceutical companies conducting innovative clinical experiments. According to other report of the WHO, per capita healthcare expenditure in North America valued around USD 10,050.279 in the year 2018. Moreover, rising demand for advanced treatment options and growing R&D investment for medical research, are estimated to further boost the market growth in the region.
APAC Market Analysis
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the high prevalence of cancer, and other chronic disease, backed by the growing geriatric population and advancing medical facilities.
· February 23, 2021: Oncolytics Biotech Inc. announced positive results for its ongoing clinical trial of using CAR T cell therapy for solid tumors.
Author Credits: Radhika Pawar
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