Rockville, Feb. 06, 2024 (GLOBE NEWSWIRE) -- The global car T-cell therapy market, estimated to be valued at US$ 2.25 million in 2024, is projected to increase at a stupendous CAGR of 17.7% from 2024 to 2034.
Main reasons propelling CAR T-cell therapy market growth are increased incidence of leukemia, burst of activity in research and development to create novel CAR T-cell therapy, and superior efficacy of CAR T-cell therapy over other traditional cancer treatments.
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In the realm of cancer treatment, CAR T-cell therapy is a revolutionary method. This approach to immunotherapy fights cancer by utilizing the patient's own cells. The potential of CAR T-cell therapy as a game-changing therapeutic option for patients who have not responded to traditional treatments has been demonstrated by its amazing success in treating several hematologic malignancies, such as specific types of leukemia and lymphoma.
| Report Attribute | Details |
| Value Projection (2034) | US$ 11.49 Billion |
| Growth Rate (2024-2034) | 17.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- In 2024, the market for CAR T-cell therapy is estimated to be valued at US$ 2.25 billion.
- Demand for Car T-cell therapy is forecasted to rise at a CAGR of 17.7% from 2024 to 2034.
- By the end of 2034, the market is forecasted to reach US$ 11.49 billion.
- North America is estimated to account for 65.7% share of the market in 2024.
- Demand for Yescarta (axicabtagene ciloleucel) is projected to increase at a CAGR of 17.4% from 2024 to 2034.
- The market in North America is forecasted to expand at a CAGR of 16.5% through 2034.
- From 2024 to 2034, the Western European market is projected to expand at a CAGR of 18.7%.
“CAR T-cells are genetically modified from either donors or patients to express a chimeric antigen receptor, specifically targeting a tumor antigen. Market growth through 2034 is projected to be influenced by a rise in cancer incidence and heightened research and development in CAR T-cell treatment. CAR T-cell therapies, a novel approach to cancer treatment that harnesses the immune system to combat illness, hold great promise,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Autolus Therapeutics
- 2Seventy Bio, Inc.
- Bristol-Myers Squibb
- Pfizer
- Gilead Sciences
- Intellia Therapeutics
- Caribou Biosciences, Inc.
- Cartesian Therapeutics, Inc.
- Novartis AG
Rising Leukemia Cases Worldwide Fueling Demand for CAR T-Cell Therapy
An important factor driving the market for CAR T-cell therapy is the rise in leukemia prevalence. Cases of leukemia, which is defined by the unchecked growth of aberrant white blood cells, have been rising in recent years.
- The American Cancer Society states that about 60,650 new cases of leukemia were identified in the United States in 2022.
Several causes, including genetic predispositions, environmental exposures, and lifestyle changes, can be related to this rise. One innovative immunotherapy that has gained popularity as a possible treatment for leukemia is CAR T-cell therapy. By modifying a patient's own T cells, this therapeutic strategy improves identification and eradication of cancer cells.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the CAR T-cell therapy market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (Yescarta [axicabtagene ciloleucel], Kymriah [tisagenlecleucel], JCAR017 [lisocabtagene maraleucel], bb2121), indication (relapsed large B-cell lymphoma, acute lymphoblastic leukemia [ALL], multiple myeloma), and end user (hospitals, cancer treatment centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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