Biotech Stocks Surge as Oncology Market Aims for $866 Billion by 2034

Biotech Stocks Surge Amid Oncology Market Growth

The landscape of the biotechnology sector is experiencing a remarkable surge, particularly in the oncology domain. In a recent analysis released by Equity Insider, it has been reported that while federal budget cuts pose serious threats to cancer research initiatives, private equity firms are stepping in with substantial investments. In 2025 alone, hundreds of millions of dollars have been funneled into oncology ventures, highlighting a growing confidence in the sector.

The oncology market, which was valued at approximately $345.1 billion in 2025, is projected to flourish, targeting an astonishing $866.1 billion by 2034, with the United States accounting for a significant portion of this figure. Investors are now redirecting their focus towards innovative companies with robust product pipelines as they seek to capitalize on this anticipated growth.

Among the key players in this dynamic sector is Oncolytics Biotech Inc. (NASDAQ: ONCY), which is making strides towards a pivotal milestone in its development journey. The company is currently pursuing a registration-enabling trial for its leading product, pelareorep, aimed at treating first-line metastatic pancreatic ductal adenocarcinoma (mPDAC).

According to the company’s Q2 2025 report, discussions are actively ongoing with the U.S. Food and Drug Administration (FDA) to finalize a pivotal study design. Plans for starting trial activities could begin as early as Q4 2025. CEO Jared Kelly asserted that the transition from proof-of-concept studies to regulatory clarity is in progress, which is a positive sign for investors looking for validation in the challenging oncology space.

Pelareorep stands out for its novel approach, utilizing oncolytic virus therapies to convert typically