CAR-T Cell Therapy Market Size to Surpass USD 14.42 Billion by 2030, exhibiting a CAGR of 18.5%

As per the report by Fortune Business Insights, the global CAR-T Cell Therapy Market size is projected to reach USD 14.42 billion in 2030, at a CAGR of 18.5% during the forecast period, 2023-2030


Pune, India, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Global CAR-T Cell Therapy Market Size was valued at USD 2.72 billion in 2022 and is projected to grow from USD 14.42 billion by 2030 exhibiting a CAGR of 18.5% during forecast period. The growing prevalence of cancer in the population and rising healthcare burden due to these diseases are the key factors driving the market growth.

A rise in clinical trials and R&D programs by leading companies to offer advanced therapies and more efficient drugs for CAR-T cell therapy are the major elements supporting market expansion.

This information is provided by Fortune Business Insights™ in its research report titled CAR-T Cell Therapy Market, 2023-2030.


Key Industry Development-

  • March 2022: The National Medical Products Administration (NMPA) of China approved an Investigational New Drug (IND) by JW Therapeutics (Shanghai) Co., Ltd. to perform an important clinical trial of its relmacabtagene autoleucel product.


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Key Takeaways –

  • CAR-T Cell Therapy Market size in North America was USD 1.75 billion in 2022
  • Rising Prevalence of Hematological Cancer to Surge the Demand for CAR-T Cell Therapy
  • The higher cancer rates have increased the need for effective drugs and treatments.
  • The axicabtagene ciloleucel segment is expected to hold a major market share during the projected period.


Discover the Leading Players Featured in the Report-

  • Gilead Sciences, Inc. (U.S.)
  • Novartis AG (Switzerland)
  • Bristol-Myers Squibb Company (U.S.)
  • Johnson & Johnson Services, Inc. (Janssen Global Services, LLC) (U.S.)
  • Caribou Biosciences, Inc. (U.S.)
  • CARsgenTherapeutics Co., Ltd (China)
  • JW Therapeutics (Shanghai) Co., Ltd. (China)
  • Cartesian Therapeutics, Inc. (U.S.)
  • Aurora Biopharma (U.S.)


Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2023 to 2030
Forecast Period 2023 to 2030 CAGR 18.5%
2030 Value Projection USD 14.42 Billion
Base Year 2022
CAR-T Cell Therapy Market Size in 2022 USD 2.72 Billion
Historical Data for 2019 to 2021
No. of Pages 149
Segments covered Drug Type, Indication and Geography


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Drivers & Restraints:

Growing Blood Cancer Awareness among the Population to Drive Market Growth

Surging blood cancer awareness among the population is surging CAR-T cell therapy demand. A rise in programs by healthcare agencies, government bodies, and top market participants to increase diagnosis and treatment rates is projected to the stimulate market progress. An increase in healthcare spending and the rising incidence of non-Hodgkin's lymphoma in both developed and developing countries are boosting market growth.

However, lack of awareness regarding different cancer conditions in certain countries and decrease in eligible patients for CAR-T cell therapy are hampering market growth.


Segmentation:

By Drug Type

  • Axicabtagene Ciloleucel (Yescarta)
  • Brexucabtagene Autoleucel (Tecartus)
  • Ciltacabtagene Autoleucel (Carvykti)
  • Idecabtagene Vicleucel (Abecma)
  • Lisocabtagene Maraleucel (Breyanzi)
  • Tisagenlecleucel (Kymriah)
  • Others

By Indication

  • Acute Lymphoblastic Leukemia
  • Non-Hodgkin Lymphoma
  • Multiple Myeloma

By End User

  • Hospitals
  • Oncology Treatment Centers


Regional Insights:

Rapid Innovations in CAR-T Cell Therapies to Boost Market Expansion in North America

North America holds a substantial global CAR-T cell therapy market share. Market expansion in the region is driven by rapid innovations in CAR-T cell therapies and novel product introductions by key companies.

The Asia Pacific market is set to rise at the highest CAGR over the projected period. An increase in clinical trials, growing acceptance of recent treatments among individuals, and rising focus on product approvals by prominent market players are boosting market development in the region.


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Competitive Landscape:

R&D Investments to Introduce Effective Therapies by Key Companies to Fuel Market Enhancement

Leading companies are investing heavily in R&D initiatives to offer innovative and effective CAR-T cell therapy to treat cancer. This strategic approach of key market players is increasing their market share.


FAQs

How big is the CAR-T Cell Therapy Market?

CAR-T Cell Therapy Market size was USD 2.72 billion in 2022. It is expected to reach USD 14.42 billion in 2030.

How fast is the CAR-T Cell Therapy Market growing?

The CAR-T Cell Therapy Market will exhibit a CAGR of 18.5% during the forecast period, 2023-2030.


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CAR-T Cell Therapy Market