LOS ANGELES, March 16, 2021 (GLOBE NEWSWIRE) -- The Global T-Cell Therapy Market is anticipated to grow at a CAGR of around 20.9% during the forecast period 2020 to 2027 and to reach around US$ 17.3 Bn by 2027.
Increasing government expenditure on biotechnology R&D is a major factor expected to drive the growth of global T-cell therapy market.
The market in North America is expected to account for a major revenue share in the global T-cell therapy market due to the high patient pool suffering from liver cancer. Noticeable increase in the number of patients suffering from liver cancer is resulting in demand for promising medication that aid in increasing life expectancy. According to U.S. Department of Health & Human Services each year in the United States, about 24,000 men and 10,000 women get liver cancer, and about 18,000 men and 9,000 women die from the disease.
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Government is spending high on drug R&D activities, coupled with high focus of private players on clinical trials and introduction of innovative solutions are factors expected to impact the growth of T-cell therapy market.
In 2020, the U.S. Food and Drug Administration (FDA) approved Tecartus (brexucabtagene autoleucel), cell-based gene therapy for treatment of adult patients diagnosed with mantle cell lymphoma (MCL) who have not responded to or who have relapsed following other kinds of treatment. Tecartus, a chimeric antigen receptor (CAR) T cell therapy, is the first cell-based gene therapy approved by the FDA for the treatment of MCL.
In 2021, OrganaBio a global player in gene therapy launched a new cell product, ImmunoPAC-T-CB T cells, designed to support the development of allogeneic immune cell-based therapies, such as chimeric antigen receptor (CAR) T cells. This product launch is expected to help the company to enhance the product portfolio and increase the revenue share.
The market in Asia Pacific is expected to witness faster growth in the T-cell therapy market due to rising government spending on development of healthcare infrastructure. In addition, presence of large number of companies operating in countries in China and India and focused on introduction of novel products are factors expected to boost the growth of the T-cell therapy market.
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Flourishing biopharmaceutical sector across the globe and increasing focus of players for development of protein and small molecule-based treatments to adoptive therapies are major factors expected to drive the growth of global T-cell therapy market. Currently, there are 362 investigational cell and gene therapies currently in clinical development, a 20 percent increase from 2018, according to a March report from Pharmaceutical Research and Manufacturers of America (PhRMA). In addition, increasing number of patients suffering from chronic cancer, increasing gene therapy market, and players focus on introduction new products are factors expected to impact the growth of target market. High focus on acquisition activities in order to increase the revenue share is expected to boost the T-cell therapy market growth.
- In 2020, Sanofi a global biopharmaceutical company acquired Kiadis another biopharmaceutical company for US$ 359 Mn. The acquisition is expected to help the company in development of NK cell-based medicines for the treatment of patients undergoing hematopoietic stem cell transplant, liquid and solid tumors, and other infectious diseases.
- In 2020, Astellas Pharma Inc a pharmaceutical company acquired Xyphos and its next-generation take on CAR-T therapies. This acquisition is expected to help the company to enhance the business presence and increase the revenue share.
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Factors such as high cost associated to R&D activities and therapy are expected to hamper the growth of global T-cell therapy market. In addition, stringent government regulations related to product approval is expected to challenge the growth of target market. However, increasing investment by major players, introduction of innovative solutions and focus on expansion of manufacturing facilities are factors expected to create new opportunities for players operating in the T-cell therapy market over the forecast period.
In addition, increasing partnership between regional and international players and focus on tracking the untapped market in developing countries are factors expected to support the revenue transaction of the target market. Players operating in the global T-cell therapy market are Novartis AG, Merck KGaA, Gilead Sciences Inc., TCR2 Therapeutics Inc., Bluebird Bio Inc., Sorrento Therapeutics, Fate Therapeutics, Pfizer Inc., and Amgen. The market is highly competitive due to presence of large number of players operating on global level.
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