Oncolytic Virus Therapy Market Trends

Growth Drivers

• Rising Demand for Personalized Treatment– Multiple scientific advancements and a growing number of different pharmaceutical businesses have contributed to the rise of personalized medicine. With personalized treatment, oncologists can customize the oncolytic viruses to target specific genetic alterations to increase the chances of therapeutic success.
  Over 38% of all new pharmaceuticals approved by the US Food and Drug Administration (FDA) in 2020 were personalized medicine therapy.
• Increasing Geriatric Population – The elderly population is more susceptible to cancer, and as people age their cellular repair mechanism gets less effective, which is expected to drive the demand for oncolytic virus therapy since aged people with cancer look for better treatment options.
  The global population of those 65 and older is increasing more rapidly, and lately, there are over 610 million persons over the age of 65.

Challenges

• Side Effects of the Therapy– Oncolytic viruses occasionally may contaminate healthy cells and excite overall immune movement, and they may also transmit a potential risk of infection. The common side effects are chills, fatigue, flu-like indications, injection site pain, sickness, and fever which negatively affect the market growth.
• Limited Access to Healthcare in Low and Middle Income Countries
• Lack of Professionals to Perform the Therapy- since Intratumoral injections are difficult to perform, ordinary nurses cannot administer these injections.