Wilmington, Delaware, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The CAR T-cell therapy market was estimated to have acquired US$ 1.1 billion in 2020. It is anticipated to register a 30.6% CAGR from 2021 to 2031 and by 2031, the market is likely to gain US$ 21.8 billion.
The key element driving the market for CAR T-cell therapy is the efficacy in cancer treatment. The CAR T-cell therapy has demonstrated remarkable efficacy in treating certain types of leukemia and lymphoma, driving its adoption and market growth. Ongoing research and trials are exploring the potential of CAR T-cell therapy in treating solid tumors, opening up new opportunities for market expansion.
The demand for CAR-T therapy is also being driven by minimized relapse rates. CAR T-cell therapy has shown to reduce relapse rates in some patients, making it a potentially curative treatment option and fueling market demand.
CAR T-cell therapy is designed to be patient-specific, aligning with the growing trend of personalized medicine in oncology. Continued investment in R&D by pharmaceutical companies and research institutions is propelling advancements in CAR T-cell technology and applications. Regulatory approvals and support for CAR T-cell therapies are increasing globally, streamlining their commercialization and market growth.
Collaborations between research institutions, pharmaceutical companies, and healthcare providers are accelerating the development and adoption of CAR T-cell therapies.
CAR T-cell therapy is being explored for various types of cancers beyond hematological malignancies, broadening its potential patient base and market reach. Advances in manufacturing technologies are streamlining the production process of CAR T-cell therapies, addressing scalability challenges and expanding market accessibility.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.1 Bn | |
| Estimated Value | US$ 21.8 Bn | |
| Growth Rate - CAGR | 30.6% | |
| Forecast Period | 2021-2031 | |
| No. of Pages | 180 Pages | |
| Market Segmentation | By Product Type, Indication, End-user | |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East & Africa | |
| Companies Covered | Pfizer, Inc., Novartis AG, Bristol-Myers Squibb, Amgen, Inc., Sorrento Therapeutics, Inc., Johnson & Johnson Services, Inc., Gilead Sciences, Inc., Merck & Co., Inc., bluebird bio, Inc., Other Prominent Players | |
Key Findings of the Market Report
- CAR T-cell therapy is showing promise in treating pediatric cancers, such as pediatric acute lymphoblastic leukemia (ALL), presenting a growing market opportunity in pediatric oncology.
- Ongoing advancements in CAR design, including third-generation CARs and armored CARs, are expected to enhance the effectiveness and safety of CAR T-cell therapy, driving its adoption.
- Increasing penetration of CAR T-cell therapy in emerging markets, driven by rising healthcare infrastructure and patient awareness, offers significant growth prospects.
- Research into combination therapies involving CAR T-cell therapy and other immunotherapies, targeted therapies, or traditional treatments may unlock new synergistic treatment options.
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Market Trends for CAR T-cell Therapy Market
- Developing healthcare infrastructure, especially in emerging economies, facilitates the availability and accessibility of CAR T-cell therapies, driving market growth.
- Continuous improvement in clinical outcomes and long-term survival rates associated with CAR T-cell therapy is boosting confidence among both healthcare professionals and patients.
- Increasing awareness and education campaigns about the benefits and availability of CAR T-cell therapy are driving patient demand and market growth.
- Efforts to reduce the overall cost of CAR T-cell therapy, such as process optimization and reimbursement strategies, are making this treatment more accessible and fueling market growth.
Global Market for CAR T-cell Therapy: Regional Outlook
Various reasons are propelling the growth of the CAR T-cell therapy market in different countries. These are:
- North America boasts well-developed healthcare infrastructure and a robust regulatory framework, enabling the rapid adoption and commercialization of CAR T-cell therapies.
- The region is a hub for biomedical research and development, fostering innovation in CAR T-cell therapy. Leading academic institutions, research centers, and pharmaceutical companies contribute to advancements in the field.
- North America has a relatively high incidence of blood cancers like leukemia and lymphoma, which are key indications for CAR T-cell therapy. This prevalence drives market growth.
- Asia Pacific has a substantial population, and a significant portion of cancer patients can benefit from CAR T-cell therapies, particularly for blood cancers.
Global CAR T-cell Therapy Market: Key Players
A few dominant worldwide firms hold the majority of the market share in the CAR T-cell therapy industry. The market's major companies are concentrating on diversifying their product lines. The big players' primary strategy includes mergers and acquisitions. In order to acquire a competitive edge in the industry, market competitors are concentrating on offering high-quality services.
The following companies are well-known participants in the global CAR T-cell therapy market:
- Pfizer, Inc.
- Novartis AG
- Bristol-Myers Squibb
- Amgen Inc.
- Sorrento Therapeutics, Inc.
- Johnson & Johnson Services, Inc.
- Gilead Sciences, Inc.
- Merck & Co. Inc.
- bluebird bio Inc.
- Other Prominent Players
Key developments in the global CAR T-cell therapy market are:
- In 2023, Bristol Myers Squibb and bluebird bio announced a collaboration to develop and commercialize CAR T-cell therapies for multiple myeloma.
- In the same year, Celgene (acquired by Bristol Myers Squibb in 2020) received FDA approval for Breyanzi, a CAR T-cell therapy for relapsed or refractory large B-cell lymphoma.
- In 2022, Novartis and Amgen announced a collaboration to develop and commercialize CAR T-cell therapies for solid tumors.
- In 2022, Kite Pharma (acquired by Gilead Sciences in 2017) received FDA approval for Tecartus, a CAR T-cell therapy for relapsed or refractory acute lymphoblastic leukemia (ALL).
Partial Table of Content (ToC):
1. Preface
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Assumptions and Acronyms Used
2.2. Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunity
4.3. Global CAR T-cell Therapy Market Forecast
4.4. Global CAR T-cell Therapy Market Outlook
5. Market Outlook
5.1. Key Industry Events
5.2. Diseases Epidemiology
5.3. Product Pipeline Analysis
5.4. Impact of COVID-19 Pandemic
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Global CAR T-cell Therapy Market Segmentation
By Product Type
- Axicabtagene Ciloleucel
- Tisagenlecleucel
- Brexucabtagene Autoleucel
- Lisocabtagene Maraleucel
- Idecabtagene Vicleucel
- Others
By Indication
- Acute Lymphocytic Leukemia
- Diffuse Large B-cell Lymphoma
- Follicular Lymphoma
- Mantle Cell Lymphoma
- Multiple Myeloma
- Others
By End-user
- Hospitals
- Cancer Treatment Centers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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