Oncolytic Virus Therapy Market Size

Oncolytic Virus Therapy Market size was valued at USD 23.09 million in 2024 and is expected to reach USD 490.46 million by 2037, registering around 26.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of oncolytic virus therapy is evaluated at USD 27.99 million.

The reason behind the growth is impelled by the increasing prevalence of cancer globally which has led to a rapid increase in clinical trials and approval of new virus therapies for cancer treatment. Clinical trials are being conducted to determine the effectiveness of oncolytic viruses since they are effective in treating specific cancer types.

Further, oncolytic viruses (OVs) are an emerging class of cancer therapies that use modified viruses to attack and destroy tumor cells and are being used to treat cancer, particularly advanced metastatic melanoma. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for about 10 million death in 2020.

The growing advancements in viral engineering are believed to fuel the market growth. The viral-vector production has had to quickly advance therefore, numerous technological innovations are being tested by businesses to handle every aspect of viral-vector gene therapy, and as genetic engineering technology has advanced, capabilities of the oncolytic virus have been enhanced for creating new anticancer techniques, and the development of tumor-selective oncolytic virus with effectiveness against a variety of malignancies has been made possible.