Global CAR T-Cell Therapy Market to Surpass $15 Billion by 2030, Driven by Growing Prevalence of Multiple Myeloma and Lymphoma

Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) -- The "CAR T-cell Therapy Market Size, Share & Trends Analysis Report by Product (Abecma, Breyanzi), By Disease Indication (Lymphoma, Leukemia, Multiple Myeloma), By End-use, By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The global CAR T-cell therapy market size is expected to reach USD 15.97 billion by 2030, expanding at 23.32% CAGR from 2023 to 2030, according to this report. CAR T-cell therapy presents a paradigm shift in the treatment of blood cancers such as lymphoma, multiple myeloma, and leukemia by utilizing the patient's immune system to terminate cancer cells. The rising prevalence of cancer types such as multiple myeloma in developing countries is driving the market. Rampant regulatory support in the form of product approvals and an intensive product pipeline of drugs further strengthens the industry. For instance, as per the U.S. National Library of Medicine April 2023, around 310 studies pertinent to CAR T-cells are being conducted across early phase I, phase I, and phase II in various parts of the world.



Various players are entering into strategic partnerships along with geographic expansion to necessitate therapy coverage across the world. Thereby, companies are adopting strategies to increase the geographical footprint in countries without access to potential cures or treatments for blood cancers. For instance, on August 31, 2022, Kite, a medical company operating under Gilead announced the expansion of CAR T-cell therapy in regions of Saudi Arabia, Brazil, and Singapore. The company reported an occurrence of 1000 or higher cases of non-Hodgkin lymphoma (NHL) in Singapore, while around 1700 cases of the disease are diagnosed in Saudi Arabia. Similarly, in Brazil, around 12000 cases of NHL are found each year.

The COVID-19 pandemic has made it difficult to administer CAR T-cell therapy to patients, particularly in the early stages of the pandemic when many hospitals and clinics were overwhelmed with COVID-19 patients. Many hospitals had to postpone or cancel elective procedures, including CAR T-cell therapy, to free up resources for COVID-19 patients. In addition, CAR T-cell therapy has significant side effects, including cytokine release syndrome (CRS), which can cause fever, low blood pressure, and organ damage which mimics the symptoms of COVID-19, thereby, curating problems to treat for condition.

Moreover, hospitals and cancer care centers emerging in developing countries are progressing with the adoption of CAR T-cells. These centers thrive as cost and time-efficient cancer treatments allow the market to grow holistically. For instance, in August 2022, Immunotherapy Institute, a cancer treatment center in Mexico began operations to offer CAR T-cells for American and Canadian patients. Similarly, in Israel, the therapy can be expedited in about 10 days owing to the entire process being conducted in-house, with notable cost reductions.

The lack of skilled professionals in emerging nations coupled with the high cost associated with the therapy remain challenges to market growth. However, rising awareness and increasing approvals for technologically advanced CAR T-cell therapy are anticipated to mitigate these challenges and contribute to market growth over the forecast period. According to Cancer Treatment Centers of America, six CAR T-cell therapies were approved by U.S. FDA for the treatment of blood cancers as of 2023.

CAR T-cell Therapy Market Report Highlights

• By product, the Yescarta (axicabtagene ciloleucel) segment dominated the market with a share of 43.76% in 2022. The high usage of Yescarta can be attributed to strong performance and improved survivability in adults suffering from relapsed B-cell large lymphoma
  
  
• Lymphoma accounted for the largest share of 57.15% in the disease indication segment in 2022. The high penetration of the market segment owes itself to the significant prevalence of the condition across the world. Additionally, the strong product focus by market players to eliminate the CD-19 antigen drives growth
  
  
• By end-use, the hospital segment captured a majority share of 56.26% in 2022 due to the robust presence of fiscal and operational resources. Additionally, in-house labs for hospitals expedite the process faster, helping to gain a strong share
  
  
• North America has shown a dominant position in the market with a 66.70% share in 2022. The primary reason for a sizable share can be attributed to the patient volume and overall access to general and complex healthcare, with speedy approvals and robust medical insurance coverage

Key Attributes:

Companies Mentioned

• Bristol-Myers Squibb Company
• Novartis AG
• Gilead Sciences Inc
• Bluebird Bio Inc
• Johnson & Johnson Services Inc
• Merck & Co.
• Sorrento Therapeutics Inc
• Sangamo Therapeutics
• GSK Plc.
• JW Therapeutics (Shanghai) Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/vzq0b4

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• Global CAR T-cell Therapy Market