Dublin, March 27, 2024 (GLOBE NEWSWIRE) -- The "Global CAR-T Cell Therapy Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global market for CAR-T cell therapy is experiencing rapid growth, driven by innovative treatments and increasing demand for advanced cancer therapies. Experts anticipate substantial growth in the CAR-T cell therapy sector, with forecasts suggesting a reach of USD 34.04 billion by 2034, starting from a valuation of USD 3.39 billion in 2023.
Factors Contributing to Market Expansion
The surge in the market size is attributed to a variety of factors, including the increasing prevalence of chronic diseases such as cancer and leukemia. There is a heightened focus on the development of cell therapies, rising research and development activities, and a significant influx of investment for the development of new CAR-T cell therapy innovations. Technological advancements have also played an integral role, alongside the growing number of drug product launches and rising regulatory approvals for novel treatments.
Drug Type and Application Segmentation Growth
Specific drug types, such as Yescarta, have achieved substantial revenue in the CAR-T cell therapy market, reflecting the growing need for effective treatment options for B-cell lymphoma. Emerging drug types like Carvykti have also shown promise, with regulatory approvals signposting robust future growth trajectories. The multiple myeloma segment has shown considerable revenue generation within the market due to numerous FDA approvals and strategic collaborations, while the lymphoma segment is poised for accelerated growth, fueled by efforts to develop targeted CAR-T cell therapies.
End-User Landscape and Geographical Market Share
Hospitals are currently leading as the predominant end-user, while the forecast indicates significant growth in cancer treatment centers due to their comprehensive therapeutic offerings and increasing numbers of clinical trials. Geographically, North America retains the highest revenue share in the global market, which can be largely attributed to the growing incidence of chronic conditions, promising clinical trials, and swift regulatory approvals for CAR-T cell therapies.
The Asia Pacific region is projected to expand at the fastest pace in the upcoming years, aided by increasing R&D investments and regulatory body activities. In the emerging landscape of cancer treatment, CAR-T cell therapies stand at the forefront of personalized medicine, offering hope and new avenues for patients with relapsed or refractory conditions. The market dynamics indicate a transformative period ahead for the CAR-T cell therapy industry, with innovations and therapeutic advancements continuing to shape the future of cancer treatment on a global scale.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $3.39 Billion |
| Forecasted Market Value (USD) by 2034 | $34.04 Billion |
| Compound Annual Growth Rate | 23.3% |
| Regions Covered | Global |
Companies Mentioned
- Eli Lilly and Company
- Bristol-Myers Squibb Company
- Celyad Oncology
- Sangamo Therapeutics Inc.
- Novartis AG
- ACROBiosystems
- Miltenyi Biotec
- Johnson & Johnson
- Servier Laboratories
- Gilead Sciences Inc. (Kite Pharma)
- Sorrento Therapeutics Inc.
- Noile-Immune Biotech Inc.
For more information about this report visit https://www.researchandmarkets.com/r/7esvjs
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