CAR T cell therapy is an immunotherapy treatment that involves genetically modifying a patient's own T cells into chimeric antigen receptor (CAR) T cells. These engineered T cells are then infused back into the patient to fight cancer. This promising approach to cancer treatment has shown great success in treating blood cancers like leukemia and lymphoma.
The global CAR T Cell Therapy Market is estimated to be valued at US$ 2.26 Bn in 2023 and is expected to exhibit a CAGR of 20.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing clinical trials is one of the key trends driving the growth of the CAR T cell therapy market. There has been a significant rise in clinical trials involving CAR T cell therapy for both hematological as well as solid tumors in the past few years. Several biopharmaceutical companies are conducting clinical trials to evaluate the efficacy and safety of CAR T cell therapy in treating various types of cancer, including glioblastoma, lung cancer, prostate cancer, melanoma, and others. The success and favorable outcomes of ongoing clinical studies are expected to increase the adoption of CAR T cell therapy in mainstream cancer treatment over the forecast period.
Segment Analysis
The global CAR T cell therapy market is dominated by the CD19 CART cells segment. This is because most clinical trials and FDA-approved CAR T-cell therapies target CD19 antigen found on B-cell lymphoma and leukemia. The CD19 antigen is an ideal target as it is only expressed on malignant and normal B cells, making it an attractive target with a wide therapeutic window.
Key Takeaways
The Global CAR T Cell Therapy Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Favorable government regulations and increasing approval of CAR T-cell therapies will boost the market.
Regional analysis
North America is currently the dominant and fastest growing region in the global CAR T cell therapy market. This is due to advanced healthcare infrastructure and higher adoption of novel immunotherapies in the US. Additionally, presence of key market players in the region will continue to support market growth.
Key players
Key players operating in the CAR T cell therapy market are Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Novartis AG, CARsgenTherapeutics Co., Ltd, Aurora Biopharma, Legend Biotech, Gilead Sciences, Inc., Pfizer Inc., bluebird bio, Inc., Sorrento Therapeutics, Inc., Mustang Bio, Fate Therapeutics. These companies are focusing on expanding their product portfolios through acquisitions and collaborations to strengthen their market position.
For More Insights, Read: https://www.newsstatix.com/car-t-cell-therapy-market-size-share-and-growth-forecast-2023-2030/
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