Wilmington, Delaware, United States, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The solutions in the global CAR T-cell therapy market are increasingly being hailed as cutting-edge innovations in the field of cancer treatments. Clinical trials conducted by players in the global CAR T-cell therapy market are displaying promising results, particularly in end stage patients suffering from acute lymphocytic leukemia. The success of these trials is translating into substantial revenue grab opportunities for market players. As per a recent professional survey report, the global CAR T-cell therapy market is estimated to grow at a CAGR of 30.6% over the forecast period of 2021 to 2031.
Players in the global CAR T-cell therapy market are working closely with research institutes and hospitals to develop cost-effective solutions, as the high cost of CAR T-cell therapies remains a major barrier for the adoption of these solutions. Chimeric Antigen Receptors or CAR are protein constructs that have been genetically engineered to be incorporated into patient’s cytotoxic T cells for aiding them in fighting cancer cells by efficiently recognizing them. Players in the global CAR T-cell therapy market offer various types of novel products, including tisagenlecleucel, lisocabtagene maraleucel, axicabtagene ciloleucel, brexucabtagene autoleucel, and idecabtagene vicleucel, among others.
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CAR T-cell Therapy Market – Key Findings of the Report
- Players Focused on Collaborations: Leading players in the global CAR T-cell therapy market are focused on collaborating with scientists, biotechnologists, and researchers to adopt innovative strategies for enhancing anti-tumor efficacy, improve clinical efficacy, and reduce the levels of toxicity. Furthermore, players are also boosting their efforts for improving clinical efficacy in both solid tumors, as well as hematological malignancy in order to overcome the limitation of current treatments. They are increasingly collaborating with researchers to combine their anti-cancer therapies with new age CAR T-cell therapies.
CAR T-cell Therapy Market – Growth Drivers
- Rise in the incidence of cancer drives demand within the global CAR T-cell therapy market
- The presence of strong drug pipelines for treating cancer further bolsters growth within the market
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CAR T-cell Therapy Market – Key Players
Some of the key companies operating in the global CAR T-cell therapy market include Novartis AG, Amgen, Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Pfizer, Inc., Bristol-Myers Squibb, Sorrento Therapeutics, Inc., Gilead Sciences, Inc., and bluebird bio, Inc., among others. Some of the noteworthy expansion strategies employed by these players include acquisitions, strategic alliances, geographical expansion, new product launches, and distribution agreements.
Furthermore, leading players in the global CAR T-cell therapy market are also focusing on research and development to design and develop new types of CAR T-cell therapy products intended for treating different types of cancer. Stakeholders in the global CAR T-cell therapy market are complying with various research and health policy frameworks in order to adhere to stringent regulations put forth by governments across the world.
CAR T-cell Therapy Market – Regional Growth Assessment
In 2020, North America region held the dominant share of the global CAR T-cell therapy market. This leading industry positioning of the North America region can be attributed to the presence of a large number of leading international players, rising healthcare spending, and early adoption of new medical technologies and techniques. Furthermore, rising number of research activities in the region is also boosting growth within the North America CAR T-cell therapy market. In coming years, Asia Pacific is also expected to witness significant growth in the global market.
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CAR T-cell Therapy Market: Segmentation
CAR T-cell Therapy Market, by Product Type
- Axicabtagene Ciloleucel
- Tisagenlecleucel
- Brexucabtagene Autoleucel
- Lisocabtagene Maraleucel
- Idecabtagene Vicleucel
- Others
CAR T-cell Therapy Market, by Indication
- Acute Lymphocytic Leukemia
- Diffuse Large B-cell Lymphoma
- Follicular Lymphoma
- Mantle Cell Lymphoma
- Multiple Myeloma
- Others
CAR T-cell Therapy Market, by End User
- Hospitals
- Cancer Treatment Centers
CAR T-cell Therapy Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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