InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Oncolytic Virus Therapy Market- by Product (Herpes Simplex Virus (HSV), Adenoviruses, Vaccinia Virus, Vesicular Stomatitis Virus and Newcastle Disease Virus), Application (Melanoma, Prostate Cancer, Breast Cancer, Ovarian Cancer and Others), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
According to the latest research by InsightAce Analytic, the global Oncolytic Virus Therapy market will be valued at US$ 125.39 Million in 2021. It is expected to reach US$ 865.01 Million by 2030, with a CAGR of 24.29% during a forecast period of 2022-2030.
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Oncolytic viruses (OVs) are naturally occurring or genetically modified viruses that only target and kill cancer cells, sparing healthy cells. This therapy, a novel therapeutic method for cancer patients, has demonstrated encouraging global results. Targeting DNA or RNA inside or outside the body, oncolytic virus therapies are overlapping biomedical research disciplines with comparable therapeutic objectives. These treatments try to treat a disease by altering genetic material. Oncolytic virotherapy is a gene therapy that locates and eliminates cancerous cells using a natural virus. Oncolytic virus treatment is an innovative strategy for treating, curing, or ultimately preventing disease by altering a person's gene expression. It is a gene therapy that locates and eradicates cancerous cells using natural elements (virus).
The market is expanding primarily due to the necessity to treat such chronic diseases and the increased prevalence of cancer. Worldwide population growth, ageing, and rising exposure to cancer risk factors have increased cancer incidences.