Fort Collins, Colorado, May 07, 2024 (GLOBE NEWSWIRE) --
The growing prevalence of cancer is a prominent factor in the development of CAR T Cell therapy.
The increasing prevalence of cancer worldwide is a significant driving factor for the CAR T Cell Therapy market. According to the World Health Organization, cancer is a leading cause of death globally, with an estimated 19.3 million new cases and 10 million cancer-related deaths in 2020. As the incidence of cancer continues to rise, the demand for effective and targeted therapies like CAR T Cell Therapy is expected to grow. Moreover, the limitations of conventional cancer treatments, such as chemotherapy and radiation, have led to a greater focus on personalized and immune-based therapies, further driving the adoption of CAR T Cell Therapy.
Recent advancements in genetic engineering and cell therapy technologies have played a crucial role in the development and growth of the CAR T Cell Therapy market. Innovations in gene editing tools, such as CRISPR-Cas9, have enabled more precise and efficient modification of T cells, enhancing the effectiveness of CAR T Cell Therapy. Additionally, improvements in cell manufacturing processes, such as automated closed systems, have streamlined the production of CAR T cells, reducing costs and increasing scalability. These technological advancements have made CAR T Cell Therapy more accessible and have contributed to the expansion of the market.
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Segmentation Overview:
The CAR T Cell therapy market has been segmented into therapy type, therapeutic application, end-user, and region.
CD19 is a fast-growing segment and is anticipated to attract more growth in the coming years.
- Based on the market segmentation by target antigen, the CD19 segment held the largest market share in 2023. CD19 is a well-established target for CAR T Cell Therapy, as it is expressed on the surface of most B-cell malignancies, including acute lymphoblastic leukemia (ALL) and diffuse large B-cell lymphoma (DLBCL).
Hematological malignancies dominated the CAR T Cell therapy market.
- In 2023, the hematological malignancies segment dominated the CAR T Cell Therapy market by therapeutic application. Within this segment, acute lymphoblastic leukemia (ALL) and diffuse large B-cell lymphoma (DLBCL) held the most significant market shares.
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CAR T Cell Therapy Market Report Highlights:
- The CAR T Cell Therapy market growth is anticipated at a CAGR of 27.5% by 2032.
- The rising prevalence of cancer and the demand for effective treatments encourage industry developments.
- North America dominates the global CAR T Cell Therapy market, particularly the United States. According to a report by the U.S. Food and Drug Administration (FDA), five CAR T Cell Therapies had been approved in the United States as of August 2023 for the treatment of various hematological malignancies.
- Some prominent players in the CAR T Cell Therapy market report include Novartis AG, Gilead Sciences (Kite Pharma), Bristol Myers Squibb (Celgene), Janssen (Johnson & Johnson), Allogene Therapeutics, Bluebird Bio, Autolus Therapeutics, Cellectis, Celyad Oncology, Mustang Bio, and Poseida Therapeutics.
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