Covina, Aug. 27, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global CAR-T cell therapy market size and share value is projected to grow from USD 2.7 Billion in 2024 and is forecasted to reach USD 8.7 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 1.80% during the forecast period (2024 - 2034).
CAR-T Cell Therapy Market Report Overview
CAR-T Cell Therapy represents a groundbreaking advancement in immunotherapy, particularly for treating certain types of cancer. It involves the modification of a patient’s own T-cells to enhance their ability to target and destroy cancer cells.
This innovative therapy has shown remarkable success in treating cancers that were previously difficult to manage with conventional treatments. By identifying and targeting cancer cells specifically, CAR-T cell therapy provides highly customized therapy and also reduces damage to healthy organs.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The CAR-T Cell Therapy Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Bristol Myer Squibb
- Merck & Co. Inc.
- Pfizer Inc.
- Bluebird Bio-Inc.
- Novartis AG
- Caribou Biosciences Inc.
- Celgene Corporation
- Sorrento Therapeutics Inc.
- Miltenyi Biotech
- Cartesian Therapeutics
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Analyst View:
The target market is propelled by ongoing technological advancements and research. Innovations in cell engineering, improved CAR constructs and a better understanding of tumor antigens are enhancing the efficacy and safety profiles of CAR-T therapies.
Market Dynamics:
Drivers:
Increased Regulatory Approvals
- Adoption of CAR-T therapy has expanded as a result of regulatory approvals for products like Breyanzi, Yescarta and Kymriah which have shown their clinical effectiveness and safety. The industry's optimism has been boosted by the successful results of these therapies, which has encouraged additional investment and advancement in this field.
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Market Trends:
Growing Investment and Funding
- Growth in the CAR-T cell treatment business is being driven by significant investments from government agencies, pharmaceutical corporations and venture capital firms.
Segmentation:
CAR-T Cell Therapy Market is segmented based on Drug Type, Indication, End-Users, and Region.
Drug Type Insights
- This sector includes Ciloleucel, Axicabtagene, Brexucabtagene Autoleucel, Tisagenlecleucel, and Others. The Tisagenlecleucel segment is expected to dominate the target market growth as it has demonstrated substantial clinical efficacy in treating patients with relapsed or refractory B-cell malignancies. Clinical trials have shown that it can lead to significant and durable remissions in patients who have exhausted other treatment options.
Indication Insights
- This sector includes Acute Lymphocyctic Leukemia, Lymphoma, Non-Hodgkin Leukemia, and Others. Acute Lymphoblastic Leukemia segment is expected to dominate the target market growth as CAR-T cell therapies have shown particularly high efficacy in treating Acute Lymphoblastic Leukemia. Acute lymphoblastic leukemia is a type of leukemia characterized by the overproduction of immature lymphocytes, and CAR-T cell therapy targets specific antigens on the surface of these leukemic cells.
End-Users Insights
- This sector includes Hospitals, Cancer Research Centers, and Others. The hospitals segment is expected to dominate the target market growth as these hospitals are equipped with comprehensive care facilities and infrastructure necessary for administering CAR-T cell therapies, which are complex and require advanced medical support.
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Recent Development:
- In October 2023, The Central Drugs Standard Control Organization, India's equivalent of the US Food and Drug Administration, authorized NexCAR19 as the country's first CAR-T cell therapy. The approval was predicated on the outcomes of two minor clinical trials involving 64 patients with advanced leukemia or lymphoma that were carried out in India.
Regional Insights
- North America: The need for novel therapies like CAR-T cell therapy is driven by the increased occurrence of different cancers especially hematological malignancies like lymphomas and leukemia. The target market is growing because there are many patients in this region with illnesses that can be treated with CAR-T treatments.
- Asia Pacific: The increasing incidence of cancer in this region, particularly hematological cancers, creates a growing demand for advanced therapies like CAR-T cell therapy.
Browse Detail Report on "CAR-T Cell Therapy Market Size, Share, By Drug Type (Ciloleucel, Axicabtagene, Brexucabtagene Autoleucel, Tisagenlecleucel, and Others), By Indication (Acute Lymphocyctic Leukemia, Lymphoma, Non-Hodgkin Leukemia and Others), By End-Users (Hospitals, Cancer Research Centers, and Others), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/Global-CART-Cell-Therapy-Market-19
Browse More Research Reports:
- U.S. CAR-T Cell Therapy Market Size, Share Research Report, 2024-2034
- Europe CAR-T Cell Therapy Market Size, Share Research Report, 2024-2034
- Asia Pacific CAR-T Cell Therapy Market Size, Share Research Report, 2024-2034
- North America CAR-T Cell Therapy Market Size, Share Research Report, 2024-2034
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