CAR T-cell Therapy Market: Introduction
According to the report, the global CAR T-cell therapy market was valued at US$ 1.1 Bn in 2020 and is projected to expand at a CAGR of 30.6% from 2021 to 2031. CAR T-cell therapy is a recently approved treatment option for various types of cancer. CAR T cell therapy is provided by removing or harvesting T cells from a patient with cancer, transfecting the cells with CAR genes that are directed against the patient’s tumor type, expanding the modified T cell population, and reinfusing the cells back into the patient. Currently, Kymriah, Yescarta, Tecartus, Breyanzi, and ABECMA are the CAR T-cell therapy approved products for acute lymphocytic leukemia, diffuse large B-cell lymphoma, mantle cell lymphoma, follicular lymphoma, multiple myeloma, and others.
The global CAR T-cell therapy market is driven by increase in incidence of cancer and strong product pipeline. North America dominated the global CAR T-cell therapy market in 2020 and the trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early adoption of new products, high prevalence rate of cancer, and presence of major players are expected to propel the CAR T-cell therapy market in North America. Asia Pacific is likely to be a highly lucrative market for CAR T-cell therapy during the forecast period. The market in the region is projected to expand at a high CAGR from 2021 to 2031.
Request a PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=64910
Increase in Incidence of Cancer and Strong Product Pipeline to Drive Global Market
Increase in incidence of cancer and strong product pipeline are anticipated to boost the growth of the global CAR T-cell therapy market. According to the WHO, one in five people develop cancer during their lifetime, and one in eight men and one in 11 women die from the disease. These new estimates suggest that more than 50 million people are living within five years of a past cancer diagnosis. According to the WHO, in 2020, around 544,352 new cases of non-Hodgkin lymphoma were recorded globally.
Strong product pipeline is a major factor driving the demand for CAR T-cell therapy products. For instance, Autolus Therapeutics plc has one innovative product, AUTO1, in phase I trial for treatment of adult acute lymphoblastic leukemia. AUTO1 contains obecabtagene autoleucel, which is a CD19 CAR T cell investigational therapy designed to overcome the limitations in clinical activity and safety compared to current CD19 CAR T cell therapies.
Axicabtagene Ciloleucel to Dominate CAR T-cell Therapy Market
In terms of product type, the global CAR T-cell therapy market has been classified into axicabtagene ciloleucel, tisagenlecleucel, brexucabtagene autoleucel, lisocabtagene maraleucel, idecabtagene vicleucel, and others. The axicabtagene ciloleucel segment dominated the global CAR T-cell therapy market in 2020 and the trend is expected to continue during the forecast period. Yescarta is a product, which contains axicabtagene ciloleucel. Increase in demand for Yescarta in the treatment of diffuse large B-cell lymphoma and follicular lymphoma is likely to boost the growth of the segment during the forecast period. In October 2017, Kite Pharma, Inc. received the U.S. FDA approval for Yescarta for adult patients with relapsed or refractory follicular lymphoma (FL) after two or more lines of systemic therapy.
Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=64910
Tisagenlecleucel was the second largest segment in terms of market share in 2020. Increase in demand for Kymriah for treatment of acute lymphoblastic lymphoma and product approval in different countries are likely to drive the segment.
Diffuse Large B-cell Lymphoma to be Highly Lucrative
Based on indication, the global CAR T-cell therapy market has been categorized into acute lymphocytic leukemia, diffuse large B-cell lymphoma, mantle cell lymphoma, follicular lymphoma, multiple myeloma, and others. The diffuse large B-cell lymphoma segment dominated the CAR T-cell therapy market due to increase in incidence of diffuse large B-cell lymphoma. Diffuse large B-cell lymphoma is the most common type of non-Hodgkin lymphoma. Increase in number of cases of non-Hodgkin lymphoma is likely to propel the segment during the forecast period. According to WHO, globally, around 544,352 new non-Hodgkin lymphoma cases were recorded in 2020.
Hospitals to Emerge as Significant End-user
In terms of end-user, the global CAR T-cell therapy market has been divided into hospitals and cancer treatment centers. The hospitals segment led the global CAR T-cell therapy market in terms of revenue in 2020 and the trend is projected to continue during the forecast period. The hospitalization for cancer treatment is anticipated to boost the growth of the hospitals segment. Moreover, increase in use of CAR T-Cell therapy in the treatment of cancers contributes to the segment’s large market share. The segment is driven by surge in number of cancer patients who visit hospital for treatment of cancer.
Buy CAR-T Cell Therapy Market Research – https://www.transparencymarketresearch.com/checkout.php?rep_id=64910<ype=S
North America to Dominate CAR T-cell Therapy Market
In terms of region, the global CAR T-cell therapy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global CAR T-cell therapy market in 2020, followed by Europe. North America’s large market share can be ascribed to technologically advanced research and treatment platforms, increase in number of cancer patients, new product launches, and presence of major players. The CAR T-cell therapy market in Asia Pacific is anticipated to expand at a high CAGR from 2021 to 2031. This can be ascribed to the presence of developing countries with commercial hubs, expansion of business organizations, rise in awareness about CAR T-cell therapy, improvement in healthcare infrastructure, and increase in investments by companies.
The global CAR T-cell therapy market is consolidated due to limited approved products. Key players operating in the global market include Pfizer, Inc., Novartis AG, Bristol-Myers Squibb, Amgen, Inc., Sorrento Therapeutics, Inc., Johnson & Johnson Services, Inc., Gilead Sciences, Inc., Merck & Co., Inc., and bluebird bio, Inc.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Mr. Rohit Bhisey
Transparency Market Research
USA – Canada Toll Free: 866-552-3453
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/car-t-cell-therapy-market.htm