According to a new report published by Allied Market Research, titled, “CAR T-Cell therapy Market," The car t-cell therapy market was valued at $1.7 billion in 2021, and is estimated to reach $6.1 billion by 2031, growing at a CAGR of 13.5% from 2022 to 2031.
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What are the upcoming trends of CAR T-Cell therapy Market in the world?
The upcoming trends of CAR T-Cell therapy Market includes approved CAR T-cell therapeutics for treatment of different form of lymphoma with large number of target population.
Which is the largest regional market for CAR T-Cell therapy?
North America is the largest regional market for CAR T-Cell therapy.
The growing demand for ideal therapies for cancer treatment, increasing cancer prevalence, supportive reimbursement policies in some countries related to CAR T cell therapy drugs, and growing awareness of cell therapy drugs CAR T are driving the growth of the global CAR T cell therapy market. However, the lack of trained professionals for CAR T cell therapy and the high cost of therapy hinder market growth. On the other hand, the increased approval of new drugs and drugs for CAR T cell therapy presents new opportunities in the coming years.
Major Key Market Players in the Industry –
- Bluebird Bio-Inc.
- Bristol-Myers Squibb
- Caribou Biosciences Inc.
- Cartesian Therapeutics
- Celgene Corporation
- Celyad, Gilead Sciences, Inc. (Kite Pharma Inc.)
- Intellia Therapeutics
- Juno Therapeutics
- Merck & Co. Inc.
- Miltenyi Biotech
- Novartis AG
- Pfizer Inc.
- Sorrento Therapeutics, Inc.
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However, the market trends of CAR T cell therapy have seen obstacles, due to strict government regulations on the approval of CAR T cell therapy. The side effects of CAR T cell therapy and the high cost of treatment are hindering the growth of the market.
By drug type, the axicabtagene ciloleucel segment contributed the most to the market due to the increased adoption of (Yescarta) axicabtagene ciloleucel for the treatment of relapsed / refractory large B cell lymphoma and relapsed or refractory follicular lymphoma. The autoleucel brexucabtagene segment is expected to witness the highest CAGR during the forecast period, due to the increased approval of CAR T cell therapies in several countries for acute lymphoblastic leukemia (ALL) precursor of relapsed or refractory B cells.
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