PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1081029
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1081029
The global CAR T-cell therapy Market is anticipated to grow with an exponential CAGR over the forecast period (2021-2027). CAR T-Cell Therapy is a type of immunotherapy that is regarded as s revolutionary therapy for cancer. In this therapy, the T-cells are taken from the patient's blood and are modified in the laboratory for attacking the cancer cells. CAR T-cell therapy is most commonly used to treat certain blood cancers and is being studied for the treatment of other cancer types.
The growing adoption of CAR T-Cell Therapy can be attributed to the surging incidences of cancer coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Further, it has been estimated by CDC that the number of cancer cases in the US will increase 49% each year, from 1,534,500 in 2015 to 2,286,300 in 2050, with the largest percentage increase among adults aged ≥75 years. This exponential increase in cancer prevalence globally has created a buzz among various pharmaceutical companies for investing in the development of novel and effective cancer treatment. Thereby, boosting the growth of the CAR T-Cell Therapy Market.
Furthermore, the CAR T-Cell Therapy market is anticipated to grow on account of the growing technological advancement, a large number of ongoing research activities in this field, rising government and public-private investments, a huge CAR T-cell pipeline, and increasing FDA approvals. For example, in February 2022, the FDA approved carvykti, a new customized, cell-based treatment from Johnson & Johnson, for the treatment of multiple myeloma. However, some of the restraints in the market including high-touch commercial models and side-effects associated with CAR T-cell therapy are impeding the growth of this market all over the world.
Novartis AG, Gilead Sciences, Inc., Amgen, Inc., Juno Therapeutics, Eli Lilly and Company, Sorrento Therapeutics, Fate Therapeutics, Inc., Johnson & Johnson, Celgene Corporation, Bluebird bio, Inc., are some of the prominent players operating in the CAR T-cell therapy market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with CAR T-cell therapy.
Insights Presented in the Report
"Amongst Product, yescarta segment holds the major share"
Based on product, the CAR T-Cell Therapy market is segmented into abecma, breyanzi, Kymriah, tecartus, and yescarta. The yescarta segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe. Yescarta is the first CAR T-cell therapy that has been approved for certain types of non-Hodgkin lymphoma (NHL). The growth of this segment can be attributed to the customization of each dose of yescarta as the treatment is created by using a patient's immune system to help fight the lymphoma.
"Amongst Indication, relapsed Large B-cell Lymphoma segment holds the major share"
Based on indication, the CAR T-Cell Therapy market is divided into relapsed Large B-cell Lymphoma, Acute Lymphoblastic Leukemia (ALL), and Multiple Myeloma. The relapsed Large B-cell Lymphoma segment occupied the major share of the CAR T-Cell Therapy market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. The growth of this segment is attributed to the growing incidences of relapsed large b-cell lymphoma and the increase in FDA approval of CAR T-cell therapy for the same.
"Amongst End-Users, hospitals segment holds the major share"
Based on end-users, the market is fragmented into hospitals, cancer treatments centers, and others. In 2020, hospitals segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increasing number of hospitals in various emerging economies, better infrastructure & accessibility of various healthcare services at hospitals leading to the growing preference of patients for treatment in the hospital settings. However, cancer treatments centers are also likely to witness the fastest growth during the forecast period.
"North America represents one of the largest markets of CAR T-cell therapy market"
For a better understanding of the market dynamics of the CAR T-cell therapy market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the CAR T-cell therapy market industry and generated revenue of USD XX Million in 2020 owing to strong healthcare infrastructure and growing adoption of CAR T-cell therapy in the region.
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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
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