The Oncolytic Virus Therapy Market is expected to register a CAGR of 24.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Oncolytic Virus Therapy Market report covers segmental analysis by Product Type (Vaccinia Virus-based Oncolytic Viruses, HSV-based Oncolytic Viruses, Adenoviruses-based Oncolytic Viruses, Newcastle Disease Virus-based Oncolytic Viruses, Vesicular Stomatitis Virus-based Oncolytic Viruses); Application (Breast Cancer, Lung Cancer, Prostate Cancer, Melanoma, Brain Tumor, Blood Cancer); End User (Hospitals, Specialty Clinics, Cancer Research Institutes), and Geography (North America, Europe, Asia Pacific, and South and Central America). The global analysis is further broken down at the regional level and major countries
Purpose of the ReportThe report Oncolytic Virus Therapy Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Oncolytic Virus Therapy Market Segmentation
Product Type- Vaccinia Virus-based Oncolytic Viruses
- HSV-based Oncolytic Viruses
- Adenoviruses-based Oncolytic Viruses
- Newcastle Disease Virus-based Oncolytic Viruses
- Vesicular Stomatitis Virus-based Oncolytic Viruses
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Melanoma
- Brain Tumor
- Blood Cancer
- Hospitals
- Specialty Clinics
- Cancer Research Institutes
Strategic Insights
Oncolytic Virus Therapy Market Growth Drivers- Advancements in Viral Engineering and Genetic Modifications: Technological advancements in genetic engineering and virology have improved the efficiency of oncolytic virus therapy. Scientists have achieved significant improvements in the manipulation and improvement of viruses to be more selective in attacking cancer cells while avoiding healthy tissues. Such innovations have resulted in more potent and effective oncolytic virus candidates, thus fueling market growth as new therapies come into clinical trials and are closer to commercialization.
- Rising Investment in Cancer Immunotherapy: The growth of the Oncolytic Virus Therapy Market has been indirectly fueled by the growing interest in immunotherapy, especially in cancer immunotherapy. Oncolytic viruses help stimulate the body's immune response to identify and destroy cancerous cells, thereby strengthening the natural capabilities of the immune system. Investments in immunotherapy have been rising as it continues to attract both public and private investments, thus ever more promising as an alternative or standalone therapy in cancer.
- Regulatory Approvals and Breakthrough Therapies: Regulatory approval for oncolytic virus therapies from such bodies as the U.S. Food and Drug Administration has helped the market grow faster. T-VEC, Talimogene laherparepvec, was the first oncolytic virus therapy that was given approval by the FDA in 2015 to treat melanoma. Such approvals have inspired many to research in this area in the recent past. Second, several oncolytic virus drugs have already gained breakthrough therapy designations of many, and this has enabled quicker approval of the treatment and, hence their quicker availability in the market.
- Collaboration Between Pharmaceutical Companies and Research Institutions: The pharmaceutical companies and research institution can hold very good collaborations that would propel oncolytic virus therapy. The companies can gather their respective resources and funding that come with relevant expertize, thus they will be beneficial in developing such therapies. It also gives scope to penetrate into markets faster because marketing in an accelerated pace gets into markets much quicker than normal circumstances.
- High Unmet Medical Need in Cancer Treatment: The unmet need for more effective cancer treatment is left, especially among patients with advanced-stage cancers or those who did not respond to traditional treatments. Oncolytic virus therapy gives an innovative way of targeting and killing cancer cells without affecting normal tissue. The unmet need for more effective cancer treatments creates a demand for oncolytic virus therapies as the promising option for patients with few choices.
- Patient-Specific and Personalized Medicine Approaches: The growth in the Oncolytic Virus Therapy Market can be attributed to the rising trend toward personalized medicine, whereby treatment is adapted according to an individual patient profile. The oncolytic viruses can be tailored with regard to specific types of cancer or even individual characteristics, thus delivering a more targeted and effective therapy. This shift towards precision oncology is giving way to enhanced adoption of oncolytic virus therapies.
- Combination Therapies with Immuno-Oncology Agents: Such treatment is believed to add an option to combine the OncoLytic Virus Therapy with other immuno-oncology drugs like checkpoint inhibitors, like PD-1/PD-L1 inhibitors and antibodies, thereby providing higher synergistic effects in treating diseases. Several clinical results of such studies are very promising, leading the door for potential better treatment by combination and better overall therapy and thereby expanded the scope of this market through high patient outcomes.
- Development of Novel Oncolytic Virus Strains: The market for oncolytic virus therapy is all set to introduce innovative novel strains of viruses that may be used on a more diverse scope of cancers. Various viruses including engineered adenoviruses, herpes simplex viruses, and vesicular stomatitis viruses are also under research with respect to its ability to fight cancerous disorders. Availability of the new generation of highly specific and less harmful oncolytic viruses for application will further create large scope for greater applications of market share.
- Integration with Gene Therapy Approaches: The combination of oncolytic virus therapy with gene therapy is a very exciting prospect. Oncolytic viruses can be genetically engineered to carry specific genes that enhance the immune response or directly attack cancer cells. This dual approach of viral infection and gene delivery may bring some groundbreaking treatments of hard-to-treat cancers, such as pancreatic or glioblastoma. That, in respect, is a good side of gene therapy-because it is bringing ever-increasing potential for boost in the functionalities of oncolytic viruses that propel the growth of the tumor as well as innovation in cancer treatment.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Oncolytic Virus Therapy Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Oncolytic Virus Therapy Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The Oncolytic Virus Therapy Market is expected to register a CAGR of 24.5% from 2025-2031.
The major factors impacting the Oncolytic Virus Therapy Market are: Advancements in Viral Engineering and Genetic Modifications, Rising Investment in Cancer Immunotherapy and Regulatory Approvals and Breakthrough Therapies
Key future trends in this market are - Collaboration Between Pharmaceutical Companies and Research Institutions, High Unmet Medical Need in Cancer Treatment and Patient-Specific and Personalized Medicine Approaches
Key companies of this market are: Amgen Inc, Oncolytics Biotech, Inc., Merck & Co., Inc., Transgene, Oncolys BioPharma Inc., Targovax ASA, Vyriad Inc., Genelux Corporation, Sorrento Therapeutics, Inc., Lokon Pharma AB
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Oncolytic Virus Therapy Market - By Product Type
1.3.2 Oncolytic Virus Therapy Market - By Application
1.3.3 Oncolytic Virus Therapy Market - By End User
1.3.4 Oncolytic Virus Therapy Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ONCOLYTIC VIRUS THERAPY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ONCOLYTIC VIRUS THERAPY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ONCOLYTIC VIRUS THERAPY MARKET - GLOBAL MARKET ANALYSIS
6.1. ONCOLYTIC VIRUS THERAPY - GLOBAL MARKET OVERVIEW
6.2. ONCOLYTIC VIRUS THERAPY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ONCOLYTIC VIRUS THERAPY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. VACCINIA VIRUS-BASED ONCOLYTIC VIRUSES
7.3.1. Overview
7.3.2. Vaccinia Virus-based Oncolytic Viruses Market Forecast and Analysis
7.4. HSV-BASED ONCOLYTIC VIRUSES
7.4.1. Overview
7.4.2. HSV-based Oncolytic Viruses Market Forecast and Analysis
7.5. ADENOVIRUSES-BASED ONCOLYTIC VIRUSES
7.5.1. Overview
7.5.2. Adenoviruses-based Oncolytic Viruses Market Forecast and Analysis
7.6. NEWCASTLE DISEASE VIRUS-BASED ONCOLYTIC VIRUSES
7.6.1. Overview
7.6.2. Newcastle Disease Virus-based Oncolytic Viruses Market Forecast and Analysis
7.7. VESICULAR STOMATITIS VIRUS-BASED ONCOLYTIC VIRUSES
7.7.1. Overview
7.7.2. Vesicular Stomatitis Virus-based Oncolytic Viruses Market Forecast and Analysis
8. ONCOLYTIC VIRUS THERAPY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BREAST CANCER
8.3.1. Overview
8.3.2. Breast Cancer Market Forecast and Analysis
8.4. LUNG CANCER
8.4.1. Overview
8.4.2. Lung Cancer Market Forecast and Analysis
8.5. PROSTATE CANCER
8.5.1. Overview
8.5.2. Prostate Cancer Market Forecast and Analysis
8.6. MELANOMA
8.6.1. Overview
8.6.2. Melanoma Market Forecast and Analysis
8.7. BRAIN TUMOR
8.7.1. Overview
8.7.2. Brain Tumor Market Forecast and Analysis
8.8. BLOOD CANCER
8.8.1. Overview
8.8.2. Blood Cancer Market Forecast and Analysis
9. ONCOLYTIC VIRUS THERAPY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. SPECIALTY CLINICS
9.4.1. Overview
9.4.2. Specialty Clinics Market Forecast and Analysis
9.5. CANCER RESEARCH INSTITUTES
9.5.1. Overview
9.5.2. Cancer Research Institutes Market Forecast and Analysis
10. ONCOLYTIC VIRUS THERAPY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Oncolytic Virus Therapy Market Overview
10.1.2 North America Oncolytic Virus Therapy Market Forecasts and Analysis
10.1.3 North America Oncolytic Virus Therapy Market Forecasts and Analysis - By Product Type
10.1.4 North America Oncolytic Virus Therapy Market Forecasts and Analysis - By Application
10.1.5 North America Oncolytic Virus Therapy Market Forecasts and Analysis - By End User
10.1.6 North America Oncolytic Virus Therapy Market Forecasts and Analysis - By Countries
10.1.6.1 United States Oncolytic Virus Therapy Market
10.1.6.1.1 United States Oncolytic Virus Therapy Market by Product Type
10.1.6.1.2 United States Oncolytic Virus Therapy Market by Application
10.1.6.1.3 United States Oncolytic Virus Therapy Market by End User
10.1.6.2 Canada Oncolytic Virus Therapy Market
10.1.6.2.1 Canada Oncolytic Virus Therapy Market by Product Type
10.1.6.2.2 Canada Oncolytic Virus Therapy Market by Application
10.1.6.2.3 Canada Oncolytic Virus Therapy Market by End User
10.1.6.3 Mexico Oncolytic Virus Therapy Market
10.1.6.3.1 Mexico Oncolytic Virus Therapy Market by Product Type
10.1.6.3.2 Mexico Oncolytic Virus Therapy Market by Application
10.1.6.3.3 Mexico Oncolytic Virus Therapy Market by End User
10.2. EUROPE
10.2.1 Europe Oncolytic Virus Therapy Market Overview
10.2.2 Europe Oncolytic Virus Therapy Market Forecasts and Analysis
10.2.3 Europe Oncolytic Virus Therapy Market Forecasts and Analysis - By Product Type
10.2.4 Europe Oncolytic Virus Therapy Market Forecasts and Analysis - By Application
10.2.5 Europe Oncolytic Virus Therapy Market Forecasts and Analysis - By End User
10.2.6 Europe Oncolytic Virus Therapy Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Oncolytic Virus Therapy Market
10.2.6.1.1 Germany Oncolytic Virus Therapy Market by Product Type
10.2.6.1.2 Germany Oncolytic Virus Therapy Market by Application
10.2.6.1.3 Germany Oncolytic Virus Therapy Market by End User
10.2.6.2 France Oncolytic Virus Therapy Market
10.2.6.2.1 France Oncolytic Virus Therapy Market by Product Type
10.2.6.2.2 France Oncolytic Virus Therapy Market by Application
10.2.6.2.3 France Oncolytic Virus Therapy Market by End User
10.2.6.3 Italy Oncolytic Virus Therapy Market
10.2.6.3.1 Italy Oncolytic Virus Therapy Market by Product Type
10.2.6.3.2 Italy Oncolytic Virus Therapy Market by Application
10.2.6.3.3 Italy Oncolytic Virus Therapy Market by End User
10.2.6.4 Spain Oncolytic Virus Therapy Market
10.2.6.4.1 Spain Oncolytic Virus Therapy Market by Product Type
10.2.6.4.2 Spain Oncolytic Virus Therapy Market by Application
10.2.6.4.3 Spain Oncolytic Virus Therapy Market by End User
10.2.6.5 United Kingdom Oncolytic Virus Therapy Market
10.2.6.5.1 United Kingdom Oncolytic Virus Therapy Market by Product Type
10.2.6.5.2 United Kingdom Oncolytic Virus Therapy Market by Application
10.2.6.5.3 United Kingdom Oncolytic Virus Therapy Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Oncolytic Virus Therapy Market Overview
10.3.2 Asia-Pacific Oncolytic Virus Therapy Market Forecasts and Analysis
10.3.3 Asia-Pacific Oncolytic Virus Therapy Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Oncolytic Virus Therapy Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Oncolytic Virus Therapy Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Oncolytic Virus Therapy Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Oncolytic Virus Therapy Market
10.3.6.1.1 Australia Oncolytic Virus Therapy Market by Product Type
10.3.6.1.2 Australia Oncolytic Virus Therapy Market by Application
10.3.6.1.3 Australia Oncolytic Virus Therapy Market by End User
10.3.6.2 China Oncolytic Virus Therapy Market
10.3.6.2.1 China Oncolytic Virus Therapy Market by Product Type
10.3.6.2.2 China Oncolytic Virus Therapy Market by Application
10.3.6.2.3 China Oncolytic Virus Therapy Market by End User
10.3.6.3 India Oncolytic Virus Therapy Market
10.3.6.3.1 India Oncolytic Virus Therapy Market by Product Type
10.3.6.3.2 India Oncolytic Virus Therapy Market by Application
10.3.6.3.3 India Oncolytic Virus Therapy Market by End User
10.3.6.4 Japan Oncolytic Virus Therapy Market
10.3.6.4.1 Japan Oncolytic Virus Therapy Market by Product Type
10.3.6.4.2 Japan Oncolytic Virus Therapy Market by Application
10.3.6.4.3 Japan Oncolytic Virus Therapy Market by End User
10.3.6.5 South Korea Oncolytic Virus Therapy Market
10.3.6.5.1 South Korea Oncolytic Virus Therapy Market by Product Type
10.3.6.5.2 South Korea Oncolytic Virus Therapy Market by Application
10.3.6.5.3 South Korea Oncolytic Virus Therapy Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Oncolytic Virus Therapy Market Overview
10.4.2 Middle East and Africa Oncolytic Virus Therapy Market Forecasts and Analysis
10.4.3 Middle East and Africa Oncolytic Virus Therapy Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Oncolytic Virus Therapy Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Oncolytic Virus Therapy Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Oncolytic Virus Therapy Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Oncolytic Virus Therapy Market
10.4.6.1.1 South Africa Oncolytic Virus Therapy Market by Product Type
10.4.6.1.2 South Africa Oncolytic Virus Therapy Market by Application
10.4.6.1.3 South Africa Oncolytic Virus Therapy Market by End User
10.4.6.2 Saudi Arabia Oncolytic Virus Therapy Market
10.4.6.2.1 Saudi Arabia Oncolytic Virus Therapy Market by Product Type
10.4.6.2.2 Saudi Arabia Oncolytic Virus Therapy Market by Application
10.4.6.2.3 Saudi Arabia Oncolytic Virus Therapy Market by End User
10.4.6.3 U.A.E Oncolytic Virus Therapy Market
10.4.6.3.1 U.A.E Oncolytic Virus Therapy Market by Product Type
10.4.6.3.2 U.A.E Oncolytic Virus Therapy Market by Application
10.4.6.3.3 U.A.E Oncolytic Virus Therapy Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Oncolytic Virus Therapy Market Overview
10.5.2 South and Central America Oncolytic Virus Therapy Market Forecasts and Analysis
10.5.3 South and Central America Oncolytic Virus Therapy Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Oncolytic Virus Therapy Market Forecasts and Analysis - By Application
10.5.5 South and Central America Oncolytic Virus Therapy Market Forecasts and Analysis - By End User
10.5.6 South and Central America Oncolytic Virus Therapy Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Oncolytic Virus Therapy Market
10.5.6.1.1 Brazil Oncolytic Virus Therapy Market by Product Type
10.5.6.1.2 Brazil Oncolytic Virus Therapy Market by Application
10.5.6.1.3 Brazil Oncolytic Virus Therapy Market by End User
10.5.6.2 Argentina Oncolytic Virus Therapy Market
10.5.6.2.1 Argentina Oncolytic Virus Therapy Market by Product Type
10.5.6.2.2 Argentina Oncolytic Virus Therapy Market by Application
10.5.6.2.3 Argentina Oncolytic Virus Therapy Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ONCOLYTIC VIRUS THERAPY MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Rest of the World
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. ONCOLYTIC VIRUS THERAPY MARKET, KEY COMPANY PROFILES
13.1. AMGEN INC
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. ONCOLYTICS BIOTECH, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. MERCK AND CO., INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. TRANSGENE
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. ONCOLYS BIOPHARMA INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. TARGOVAX ASA
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. VYRIAD INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. GENELUX CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SORRENTO THERAPEUTICS, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. LOKON PHARMA AB
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Amgen Inc
2. Oncolytics Biotech, Inc.
3. Merck & Co., Inc.
4. Transgene
5. Oncolys BioPharma Inc.
6. Targovax ASA
7. Vyriad Inc.
8. Genelux Corporation
9. Sorrento Therapeutics, Inc.
10. Lokon Pharma AB
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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