(MENAFN- GlobeNewsWire - Nasdaq) London , UK, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Brandessence Market Research has published a new report title, Global CAR-T Cell Therapy Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027 . The lead analyst of the report said 'Global CAR-T Cell Therapy market size reached USD 5432.1 Million in 2020. The CAR-T Cell Therapy market size is likely to grow at 19.7% and is expected to reach USD 19126.1 Million by 2027 end. Growing demand for cancer therapies to treat chronic conditions like blood cancers and increasing demand for CAR-T cell therapies for other diseases like autoimmune disease remain key drivers of growth in the market.
The growing research in CAR-T Cell Therapy has opened up tremendous new possibilities in chronic treatments like cancer. In October 2021, The US Food and Drug Administration cleared PRGN-3007 for advanced hematologic malignancies, or solid tumors. The treatment of solid tumors remained a major challenge in the conventional application of CAR-T Cell Therapy. The new approval extends the conventional application of CAR-T Cell Therapy in key areas like breast cancer, and hematologic cancers. Furthermore, the US FDA also granted approval for GC012F for treatment of refractory of relapsed multiple myeloma. The growing investment in CAR-T Cell Therapy, increased efficacy of research, and promising FDA approvals remain key drivers of growth in the CAR-T Cell Therapy market.
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What is CAR-T Cell Therapy Market?
What is CAR-T Cell Therapy Market? The CAR-T Cell Therapy market is a conceptual analysis of all the commercial activity directly or indirectly related to the CAR-T Cell Therapy. So, a new investor can potentially gain information about CAR-T Cell Therapy companies, their key products, their core strategy, key trends in the CAR-T Cell Therapy market, and more.
What is CAR-T Cell Therapy market? This is also a key question to ask if you are planning to invest. The CAR-T Cell Therapy market report can give you insights on total size of the potential opportunity, key segments driving growth, and a thorough analysis of your competitors. The CAR-T Cell Therapy market report is essential for all stakeholders including research companies, manufacturing companies, distribution companies, government agencies, and others.
CAR-T Cell Therapy companies continue to innovate with increased focus on targeting new antigens, and decreasing costs with innovation in new methods. The concerns about high-costs remain real, as agencies like FDA have noted the need for development of new therapies developed using new manufacturing models.
Some key CAR-T Cell Therapy companies are
- Pfizer Inc.
- Merck KGaA
- Gilead Sciences Inc.
- Noile-Immune Biotech Inc.
- Gracell Biotechnology Ltd.
- Novartis AG
- Merck KGaA
- Gilead Sciences Inc.
- TCR2 Therapeutics Inc
- Bluebird Bio Inc.
- Sorrento Therapeutics
- Fate Therapeutics
- Pfizer Inc.
- Celgene Corporation
CAR-T Cell Therapy Market: Key Trends
- Investigative pipeline of CAR T-cell continues to promise major expansions, with 500 trials underway in 2019. Earlier CAR T cell therapies targeted CD19, while today 10 cells including CD 19, CD20, GD2, CD22, CD30, CD33, HER1, HER2, Meso, and EGFRVIII are deployed in commercial application. Moreover, conventional applications have witnessed expansion with increased use of both pediatric, and young adults. This has been achieved, thanks to a promising 90% remission rates.
- The prevalence of cancer remains a key driver of the CAR-T Cell Therapy market. According to the World Health Organization (WHO), cancer remains the leading cause of mortality worldwide. WHO estimates that 18.1 million individuals have cancer, and over 9.6 million died from the disease in 2018. The growing demand for cancer treatment has led to increased collaboration, and mergers between pharmaceutical companies for research. For example, in 2018, Gilead Sciences Inc engaged with Sangamo Therapeutics Inc to produce cancer treatment via gene-editing innovation. The arrangement valued at USD 3 billion, remains a defining feature of the CAR T-cell therapy market.
- The growing demand for cancer therapies has also pushed regulatory agencies to speed up game, with increased funding, streamlined approval process, and guidance for research. In 2020, the FDA granted approval to Kite Pharma's brexucabtagene autoleucel, a principal cell-based gene treatment to treat relapsed mantle cell lymphoma. The agency has also provided orphan drug status for treating various conditions via the CAR T-Cell Therapy, making their path to approval easier with funding.
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CAR-T Cell Therapy Market: Regional Analysis
The CAR-T Cell Therapy market report is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa based on region. Among these, the North America region promises to capture highest share of total revenues during the 2020-2027 period. The National Cancer Institute in the region estimated as many as 1,806,590 new cases of cancer in 20220, while nearly 6 hundred died from the disease in the same year. The establishment of key players in this region, the growing research in biotechnology, and established research chain of some of the best universities in the world remain key drivers of growth for North America region.
Europe also remains a promising region for growth of the CAR-T Cell Therapy market. Europe region remains an attractive promise for companies as highly skilled pool of researchers, increased support for research by government agencies, and transparent regulatory environment promise a stable growth for CAR-T Cell Therapy market.
The Asia Pacific region is likely to register the fastest growth in the CAR-T Cell Therapy market. The region home to a large population has witnessed major expansion in research facilities, healthcare facilities, and supply chain logistics in the last few decades. Moreover, countries like India inhibit a large population of cancer patients, reaching over 2 to 3 million new cases per year. This region is witnessing a major strategic focuc from big pharmaceutical companies as mergers, collaborations, and strategic acquisitions define the market growth. The recent announcement of partnership between EdiGene, and Immunochina in 2020 remains a prime example of this development. Furthermore, growing demand for therapeutics, growing outsourcing in Asia Pacific, and increased focus on adoption of technologies like 3D printing, virtual reality, and Artifical Intelligence for outsourcing conceptualization of drug manufacturing promise new opportunities for growth.
Global CAR T-cell therapy Market Segmentation:
By Therapy Type:
- CAR T-cell Therapy
- T Cell Receptor (TCR)-based
- Tumor Infiltrating Lymphocytes (TIL)-based
- Solid Tumor
- brain & central nervous system
- liver cancer
- Cancer Treatment Centers
Region Covered in CAR T-cell therapy Market Report:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of Latin America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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