Portland, OR, June 15, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “T-Cell Therapy Market by Therapy Type (CAR T-cell therapy and T-Cell Receptor (TCR)- Based ), Indication (Lymphoma, Acute Lymphocytic Leukemia and Others) and by End User (Hospitals and Cancer Treatment Centers): Global Opportunity Analysis and Industry Forecast, 2023-2032 ” According to the report, the global dental lasers industry generated $2.8 billion in 2022, and is anticipated to generate $15.2 billion by 2032, witnessing a CAGR of 18.3% from 2022 to 2032.
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Prime determinants of growth
Growing prevalence of cancers such as lymphoma, acute lymphocytic leukemia, rise in awareness regarding gene therapy and increase in demand for ideal therapeutics for treatment drive the growth of the global T-Cell therapy market. However, side effects associated with cellular therapies such as cytokine release syndrome and neurotoxicity, which can limit its use and thus hamper the market growth. On the contrary, the growing healthcare infrastructure and adoption of such strategies product approval, agreement, and collaboration by key manufacturers are expected to offer remunerative opportunities for expansion of the T-Cell therapy market during the forecast period.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.8 billion |
| Market Size in 2032 | $15.2 billion |
| CAGR | 18.3% |
| No. of Pages in Report | 274 |
| Segments covered | Therapy type, Indication, End Users, and Region. |
| Drivers | Rise in the prevalence of cancer Increase in demand for ideal therapeutics for the treatment Rise in awareness regarding T-cell therapy |
| Opportunities | Increase in R and D activities to develop T-cell therapeutics |
| Restraints | High cost of T-cell therapies Strict government regulation for the approval of drugs |
Covid-19 Scenario
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the T-Cell therapy market faced a downturn.
- However, as the global situation started ameliorating, the demand for efficient therapy, owing to prevailing cancer cases, was restored back. This, in turn, presented various growth opportunities for companies operating in the T-Cell therapy market.
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The CAR T-cell Therapy segment to maintain its leadership status throughout the forecast period
Based on therapy type, the CAR T-Cell therapy segment held the highest market share in 2022, accounting for more than 90% of the global T-Cell therapy market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to exponential growth in the number of CAR T-cell therapy clinical trial and growth in the commitment of major key players in gene therapy. However, the T-Cell Receptor (TCR)- based segment is projected to manifest the highest CAGR of 25.8% from 2023 to 2032, owing to its positive results in treatment of solid malignancies. Furthermore, the growing focus of key players in expanding its application in treatment of different cancers such as melanoma is driving the growth.
The Lymphoma segment to maintain its leadership status throughout the forecast period
Based on indication, the Lymphoma segment held the highest market share in 2022, accounting for nearly two-thirds of the global T-Cell therapy market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to significant success of T-cell therapy in the treatment of blood cancers such as lymphoma. However, the others segment is projected to manifest the highest CAGR of 21.1% from 2023 to 2032, owing to growing interest in developing T-cell therapies for the treatment of diseases such as multiple myeloma and melanoma, which are often more difficult to treat with traditional therapies.
The hospitals segment to maintain its lead position during the forecast period
Based on end user, the hospitals segment held the largest market share in 2022, accounting for nearly three-fifths of the global T-Cell therapy market revenue, and is estimated to maintain its leadership status throughout the forecast period owing to presence of well-established infrastructure and advanced medical facilities necessary for conducting T-cell therapy. Additionally, the presence of experts in hospitals for performing T- cell therapy is expected to drive the growth. However, the cancer treatment centers segment is projected to manifest the highest CAGR of 18.9% from 2023 to 2032, owing to availability of a wide range of choice of treatment and increase in number of cancer centers in some developing nations.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-thirds of the global T-Cell therapy market revenue, owing to rise in prevalence of cancer cases, growth in investment by private and public agencies and well-established research & commercialization base. However, the Asia-Pacific region is expected to witness the fastest CAGR of 21.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to rise in incidence of relapse cancer, increase in healthcare expenditure, growth in awareness about the importance of early detection and treatment of cancer and rise in adoption of gene therapy arena are expected to boost the market growth.
Leading Market Players: -
- Novartis AG
- Autolus Therapeutics
- Caribou Biosciences, Inc
- Gilead Sciences, Inc.
- Immunocore Ltd.
- Celyad Oncology
- Cartesian Therapeutics, Inc.
- Johnson & Johnson
- Bristol-Myers Squibb Company
- Cellectis, Inc.
The report provides a detailed analysis of these key players of the global T-Cell therapy market. These players have adopted different strategies such as product approval, agreement, and collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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