The Global Car T Cell Therapy Market is expected to be valued at US$ 7.7 Billion by 2028. Increasing demand for genetically engineered treatment approach for high success rate in cancer treatment along with growing cancer incidence rate are key factors driving demand for CAR T cell therapy products worldwide. Lately, CAR T cell therapy has emerged as the new pillar for cancer treatment, creating high market potential for companies engaged in development and promotion of the product. Currently, Novartis International AG, Juno Therapeutics and Kite Pharma Inc. are dominating the CAR T cell therapy market.
Clinical research by these players have revealed high rate of remission in patients with r/r B cell ALL and DLBCL. These companies are making major investments in R&D to expedite the clinical process. Novartis invested around US$ 9 billion in R&D – significant share of it is allocated towards oncology and development of CAR-T cell products in 2016. This novel cellular immunotherapy has attracted significant investment in last two years.
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CAR T cell therapy market is expected to be primarily driven by increasing demand for highly effective therapy mode of treating cancer. Combating cancer has been a major concern for healthcare industry for years. CAR T cell works on gene transfer technology that boosts the immune response of cancer affected individual by destroying affected tumor cells. It has been analyzed to act as a lifesaving drug for over 30 million patients’ sufferings from lymphoma. Though the CAR T cell therapy market outlook is highly optimistic, market players need to address the manufacturing and scalability options to generate higher profits. Novartis and Kite have already started building a roadmap for it.
Key takeaways of the market are:
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