CAR T cell therapy is an immunotherapy that helps the immune system fight cancers like leukemia and lymphoma. CAR T cell therapy involves collecting T cells from a patient and genetically modifying them with a chimeric antigen receptor (CAR) that directs the T cells to identify and attack cancer cells that have a specific protein on their surface. The modified CAR T cells are then infused back into the patient to trigger an immune response against the cancer. With high rates of remission for certain blood cancers, CAR T cell therapy offers new hope to patients with relapsed or refractory cancers.
The global CAR T Cell Therapy Market is estimated to be valued at US$ 12709.23 Mn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the CAR T cell therapy market is the rapid adoption of new therapies by healthcare facilities and patients. Several new CAR T cell therapies have been approved or are in late stages of clinical trials for a variety of cancer types in recent years. This includes therapies targeting CD19 for the treatment of lymphoma and leukemia as well as therapies targeting other novel antigens. The development of these novel CAR T cell therapies for new cancer indications is expected to significantly boost the adoption of CAR T cell therapy worldwide over the forecast period. With an improving understanding of cancer immunology and advances in cell therapy manufacturing techniques, more targeted and effective CAR T cell therapies are expected to enter the market leading to higher treatment rates globally.
Segment Analysis
The global CAR T cell therapy market segment is dominated by CD-19 therapies which account for around 95% of the market share currently. CD-19 therapy targets B-cell maturation antigen which is present on B-cell lymphomas and acute lymphoblastic leukemia. These therapies primarily treat relapsed/refractory aggressive B-cell non-Hodgkin's lymphoma and acute lymphoblastic leukemia. CD-19 therapies have seen the most clinical success currently and have revolutionized the treatment of these blood cancers. Other segments within CAR T cell therapy include CD 20, CD 22, and BCMA therapies however, these have not progressed as far in clinical development as CD-19 therapies currently.
Key Takeaways
The Global CAR T Cell Therapy Market Size is expected to witness high growth over the forecast period of 2023 to 2030 driven by an increasing incidence of cancer worldwide and launch of new CAR T cell therapies. The market size is forecast to reach US$ 12709.23 Mn by 2024.
Regional analysis:
North America currently dominates the CAR T cell therapy market and is expected to continue its dominance over the forecast period. This can be attributed to availability of reimbursement for CAR T cell therapies in the region along with increasing research activities. In addition, approval and launch of Abecma and Breyanzi in the US has driven market growth. Asia Pacific is expected emerge as the fastest growing region due to large patient pool, rising healthcare spending, and increasing focus of key players on expanding in countries of China, Japan and India.
Key players:
Key players operating in the CAR T cell therapy market include The Wonderful Company LLC, Germack Pistachio Company, Primex Farms, LLC, Horizon Growers, Nichols Pistachio, Keenan Farms and Setton Pistachio of Terra Bella Inc. Other players are Santa Barbara Pistachio Company, Hellas Farms LLC, Del Alba International and Ready Roast Nut Company.
For More Insights, Read: https://www.newswirestats.com/car-t-cell-therapy-market-size-share-and-growth-forecast-2023-2030/
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