Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global CAR-T Cell Therapy Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
With the prevalence of cancer on the rise globally, innovative treatment methodologies are highly sought after. In this context, this market analysis and forecast for the global CAR-T cell therapy sector is a crucial development for stakeholders in the medical and biotechnological landscapes. As the sector embraces cutting-edge therapies, advancements in chimeric antigen receptor (CAR) T-cell therapy are drawing significant industry focus, with expectations of substantial growth over the next decade.
The study brings a comprehensive assessment of the global CAR-T cell therapy market, offering insightful data framed between 2023 and 2034. This authoritative analysis highlights a projected Compound Annual Growth Rate (CAGR) of 25.64% during the forecast period, with the market anticipated to expand notably from USD 2.78 billion in 2023 to a staggering USD 34.23 billion by 2034.
Underpinning this growth are factors such as the intensification of research and development efforts, an enhanced understanding of the therapy's medical potential, and the steady rise in regulatory approval for novel CAR-T cell therapies. For instance, the recent FDA Fast Track Designation to Invectys' IVS-3001 for renal cell carcinoma signifies the progressive strides in this space.
Various segments within the market are highlighted within the report's comprehensive segmentation. In 2023, yescarta (axicabtagene ciloleucel) claimed the lion's share of revenue, backed by increased usage and regulatory endorsements for the treatment of diffuse large B-cell lymphoma and follicular lymphoma. Likewise, kymriah (tisagenlecleucel) is poised to scale rapidly, pushed by heightened demand for acute lymphoblastic lymphoma therapy.
Among the applications, multiple myeloma remains the leading segment, boosted by rising disease prevalence and a robust portfolio of research and development. Contrastingly, leukemia is anticipated to chart the fastest CAGR, owing to the surging awareness and technological advancements in detection and treatment modalities.
In terms of end-users, hospitals retained the highest revenue share, considering the frequency of hospital-based cancer treatments and the integration of CAR T-cell therapy within such institutional settings. Alternatively, cancer treatment centers are projected to witness a surge driven by their comprehensive treatment offerings and burgeoning support from regulatory authorities.
By region, North America stands at the forefront of revenue generation, bolstered by leading-edge research and robust partnerships amongst market players. The report also forecasts the Asia Pacific region to exhibit the fastest CAGR, sparked by a proliferation of new therapy releases, vibrant clinical trials activities, and an uptick in regulatory approvals, as evidenced by Japan's recent nod to Bristol-Myers Squibb Company's Abecma for multiple myeloma treatment.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $2.78 Billion |
| Forecasted Market Value (USD) by 2034 | $34.23 Billion |
| Compound Annual Growth Rate | 25.6% |
| Regions Covered | Global |
Companies Mentioned
- Johnson & Johnson Services Inc.
- Autolus Therapeutics
- Pfizer Inc.
- ALLOGENE THERAPEUTICS
- Miltenyi Biotech
- Intellia Therapeutics
- Lonza
- Caribou Biosciences Inc.
- Gilead Sciences Inc. (Kite Pharma Inc.)
- Aurora Biopharma
- Bluebird Bio Inc.
- Bristol-Myers Squibb company
- Cartesian Therapeutics Inc.
- Cellectis
- Juno Therapeutics Inc.
- Sorrento Therapeutics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/flw8cr
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