The global Adoptive Cell Therapy Market is estimated to be valued at US$ 5992.9875 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Adoptive cell therapy uses activated or/and engineered T cells or NK cells as living medications that are infused into patients to induce an antitumor immune response. The therapy relies on the body's own immune cells to fight cancer. Adoptive cell therapy has applications in treating different types of cancers, including lung cancer, leukemia, melanoma, and lymphoma.
Market key trends:
The increasing prevalence of cancer across the globe mainly drives the growth of the adoptive cell therapy market. According to GLOBOCAN 2020 report on cancer statistics, the estimated worldwide cancer burden had risen to 19.3 million new cases and 10.0 million cancer deaths in 2020. Further, growing research activities to develop adoptive cell therapies especially chimeric antigen receptor T (CAR-T) cell therapy for various cancers contributes to the market growth. For instance, major companies are conducting phase 2 and phase 3 clinical trials to evaluate the efficacy and safety of CAR-T therapies in treating acute lymphocytic leukemia, multiple myeloma, and non-Hodgkin lymphoma to expand the approvals of their products.
Segment Analysis
The global adoptive cell therapy market is segmented based on product type, therapy type, end user, and region. Based on product type, the market is segmented into tumor-infiltrating lymphocyte (TIL) therapy, engineered T cell receptor (TCR) therapy, and chimeric antigen receptor (CAR) T cell therapy. The CAR T cell therapy segment is expected to dominate the market during the forecast period due to increasing approvals and launches of CAR T cell therapies to treat cancer. Some key products approved include Kymriah by Novartis and Yescarta by Gilead Sciences.
Key Takeaways
The Global Adoptive Cell Therapy Market Size is expected to witness high growth, exhibiting CAGR of 21.% over the forecast period, due to increasing prevalence of cancer and success of CAR T cell therapies.
Regional analysis
North America is expected to dominate the global adoptive cell therapy market during the forecast period due increasing FDA approvals and rising adoption of CAR T cell therapies in the region.
Key players
Key players operating in the adoptive cell therapy market are Novartis AG, Gilead Sciences, Inc., Castle Creek Biosciences, Inc., Lineage Cell Therapeutics, Inc., Transgene SA, Cellectis, ImmunityBio, Inc., Sorrento Therapeutics, bluebird bio, Inc., Arcellx, Sana Biotechnology, Inc., Biodesix, Inc, and Laurus Labs. The market is dominated by Novartis and Gilead Sciences due to their best-selling CAR T cell therapies Kymriah and Yescarta respectively.
Read more: https://www.rapidwebwire.com/adoptive-cell-therapy-market-insights-trends/
Comments
0 comment