CAR T cell therapy is an evolving method of immunotherapy to treat cancers. It involves collecting T cells from a patient and genetically engineering them to express chimeric antigen receptors (CARs) that bind to specific proteins on tumor cells. The modified CAR T cells are infused back into patients to activate the immune system to eliminate cancer cells. CAR T cell therapy offers the potential of long-term remission for cancers like lymphoma and leukemia.
The global Car T Cell Therapy Market is estimated to be valued at Us$ 12,709.23 Mn in 2023 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:
The increase in the adoption rate of CAR T cell therapy is one of the major trends being witnessed in the CAR T cell therapy market. According to a study conducted by the American Society of Clinical Oncology (ASCO), CAR T cell therapy recorded response rates of 40% to 90% against certain cancers like leukaemia and lymphoma. Owing to promising results and survival benefits, the demand for CAR T cell therapy is rising among patients. Companies are also expanding their manufacturing facilities to meet the growing demand. For instance, in September 2021, Novartis doubled the manufacturing capacity of its CAR T cell therapy Kymriah at its Stein, Switzerland facility. This has propelled the growth of the global CAR T cell therapy market during the forecast period.
Segment Analysis
CAR T cell therapy market is segmented based on target antigen, application and geography. Acute Lymphocytic Leukemia (ALL) dominates the target antigen segment and is accounted around US$12,000 Mn revenue in 2023. This is due to the high number of FDA approvals and commercial launches for CAR T cell therapies for ALL indication. CD19 being a pan B-cell marker used by most of the approved therapies makes it a dominating sub-segment.
Key Takeaways
The Global CAR T Cell Therapy Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The global CAR T Cell Therapy Market is estimated to be valued at US$ 12,709.23 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.
Regional analysis shows that North America is currently the fastest growing region due to presence of major market players, early FDA approval of CAR T therapies, rise in cancer incidence and higher healthcare spending. Europe is also expected to witness significant growth over the coming years.
Key players operating in the CAR T Cell Therapy market are The Wonderful Company LLC, Germack Pista, Novartis, Gilead Sciences, Celgene, Bluebird Bio, MorphoSys and others. Novartis dominated the global market with Kymriah approved for children with ALL. Competition is expected to increase with emerging players focused on developing CAR therapies for solid tumors to expand the target indication. Several pipeline candidates are under clinical trials which will further drive the market revenues if approved.
Collaborations between academic research centers and large pharma companies will play a key role in developing more efficient and affordable CAR T cell therapies. Further focus on overcoming challenges associated with solid tumors will expand the eligible patient pool and market potential over the long run.
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