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HEALTHCARE & PHARMACEUTICAL

Adenovirus Based Virotherapy Market Segmentation by Pipeline Therapy (Phase I, II, III, and IV); by Application (Solid Tumors, and Hematological Malignancies); by Treatment (RIGVIR, Imlygic, and Oncorine) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Adenovirus Based Virotherapy Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·   November, 2020: Vibalogics announced to establish its presence in the United States in a facility near Boston, Massachusetts. It is planning to invest USD 150 million into the establishment of its US production site.

Adenovirus Based Virotherapy Market Highlights 2022 – 2030

The adenovirus based virotherapy market is estimated to garner a large revenue by growing at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to factors such as growing number of cancer incidences around the world and increasing clinical trials to formulate effective oncolytic virotherapy in developing nations. According to the World Health Organization, cancer is the leading cause for deaths worldwide. The disease led to the demise of nearly 10 million people in the world. Along with these, escalating research & development concerned with adenovirus and surging demand for vector-based therapies are also projected to drive market growth in the coming years. Furthermore, rising government investments to spread awareness about early cancer detection is expected to provide ample growth opportunities to the market in the near future.

Adenovirus Based Virotherapy Market

The market is segmented by application into solid tumors and hematological malignancies, out of which, the solid tumors segment is anticipated to hold the largest share in the adenovirus based virotherapy market on account of the commonness of cancers, namely breast, lung and prostate cancers, and rising R&D activities regarding cancer treatment across the world. According to the National Cancer Institute, the total number of cases of breast, lung and prostate cancer in the United States alone in the year 2021 are calculated to be 284,200, 235,760 and 248,530 respectively. In addition, the segment for imlygic is evaluated to observe highest growth during the forecast period owing to its efficacy in treating infected cancer cells by slowly hindering their growth and generating a systematic immune response. CLICK TO DOWNLOAD SAMPLE REPORT 

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Adenovirus Based Virotherapy Market Regional Synopsis

On the basis of geographical analysis, the adenovirus based virotherapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in North America is estimated to acquire the largest share over the forecast period on the back of availability of improved healthcare infrastructure, improvised reimbursement policies and high healthcare expenditure in the region. Additionally, presence of leading manufacturers is also expected to fuel the region’s market growth in the coming years. More than USD 510 billion were spent on medicines in the United States in 2019. Around 75% of drugs in the country are branded. Moreover, Asia Pacific is assessed to witness notable growth during the forecast period, which can be credited to the accelerated approvals of Asian cell and gene therapy, rising healthcare needs of the population, and increasing government and private investments to develop effective regenerative medication in the region.

Adenovirus Based Virotherapy Market

The adenovirus based virotherapy market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the adenovirus based virotherapy market includes the following segments:

By Pipeline Therapy

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

By Application

  • Solid Tumors
    • Prostate Cancer
    • Breast Cancer
    • Melanoma
    • Lung Cancer
    • Glioblastoma
  • Hematological Malignancies
    • Leukemia
    • Lymphoma
    • Myeloma

By Treatment

  • RIGVIR
  • Imlygic
  • Oncorine

Growth Drivers

  • Rising Prevalence of Cancer Around the World
  • Increasing Number of Clinical Trials in Developed Nations

Challenges

  • High Cost of Adenovirus Based Therapy

Top Featured Companies Dominating the Market

  • Merck Sharp & Dohme Corp.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amgen Inc.
  • Vibalogics GmbH
  • Oncolytics Biotech, Inc.
  • Transgene SA
  • PSIOXUS THERAPEUTICS LIMITED
  • Sorrento Therapeutics, Inc.
  • Targovax ASA
  • Lokon Pharma AB
  • Genelux Corporation

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