Car T Cell Therapy Market to Surpass US$ 5,030.6 Million by 2028 - Coherent Market Insights

Global Car T Cell Therapy Market, by Type (Abecma, Breyanzi, Kymriah, Tecartus, and Yescarta), by Application (Cancer, Lymphoma, and Others), by End Users (Hospitals, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,085.0 Mn in 2021 and is expected to exhibit a CAGR of 24.5% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Key players operating in the market are focusing in strategic development such as acquisitions, collaborations, distribution agreements, etc. which is expected to drive the growth of the global Car T cell therapy market. For instance, in July 2021, BioNTech SE biotechnology company announced the acquisition of Kite, a Gilead company. This acquisition accelerate the clinical development cell therapies in the U.S. Moreover, this acquisition would support the development of BioNTech’s expanding pipeline of novel cell therapies, including cancer product candidates based on its CAR-T Cell amplifying mRNA vaccine (CARVac) and NEOSTIM platforms as well as the newly acquired individualized neoantigen TCR (tumor neoantigen T cell receptor) program.

In addition, focus of key market players to invest in research and development is likely to fuel the growth of the market. For instance, Yescarta is a product developed by Gilead Sciences, Inc. which is in clinical trial phase 2 for oncology application.

Global Car T Cell Therapy Market– Impact of Coronavirus (COVID-19) Pandemic

The unexpected breakout of the COVID-19 pandemic has negative impact on the pharmaceutical and life sciences industries. The SARS-CoV-2 coronavirus (COVID-19) pandemic has significantly impacted the delivery of cellular therapeutics, including chimeric antigen receptor (CAR) T cells. This impact has extended beyond patient care to include logistics, administration, and distribution of increasingly limited health care resources. The SARS-CoV-2 coronavirus (COVID-19) pandemic is create challenges to the delivery of cellular therapy to patients with hematologic malignancies.

Browse 22 Market Data Tables and 27 Figures spread through 237 Pages and in-depth TOC on ‘Global Car T Cell Therapy Market’- Forecast to 2028, Global Car T Cell Therapy Market, by Type (Abecma, Breyanzi, Kymriah, Tecartus, and Yescarta), by Application (Cancer, Lymphoma, and Others), by End Users (Hospitals, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/car-t-cell-therapy-market-102

Increase in number of cases with cancer leads to increase in demand for the car T cell products and thereby drive the growth of the global cat T cell market. For instance, according to World Health Organization cancer-causing infections, such as hepatitis and human papillomavirus (HPV), are responsible for approximately 30% of cancer cases in low- and lower-middle-income countries. According to Global Cancer Statistics 2020, around 19.3 million new cancer cases and almost 10.0 million cancer deaths were recorded globally in 2020.

Key Takeaways of the Global Car T Cell Therapy Market:

• The global Car T cell therapy market is expected to exhibit a CAGR of 5% during the forecast period, owing to increasing R&D activities in Car T cell therapy products. For instance, according to clinicaltrial.gov, a study sponsored by Chongqing Precision Biotech Co., Ltd for BCMA CAR-T cells is in clinical trial phase 2 for indication multiple myeloma, neoplasm, plasma cell, multiple myeloma in relapse

• Based on type, Abecma segment is estimated to grow with the fastest CAGR in the global Car T cell therapy market over the forecast period, owing to early approval of the product. For instance, Yescarta was approved by the U.S. Food and Drug Administration in 2017

• Among application, cancer segment is estimated to exhibit the significant CAGR over the forecast period in the global Car T cell therapy market owing to increasing prevalence of cancer. Furthermore, Car T cell therapy products plays an important role in treating cancer. This, in turn, is expected to increase the use of these products for cancer treatment and thereby drive the growth of the segment.

• In terms of end users, hospitals segment is expected to exhibit highest CAGR in the Car T cell therapy market during the forecast period. Availability of treatment option leads to increase preference for hospital and thereby drive the growth of the segment
• Among regions, North America is expected to hold major share of the market and expected to continue its dominance during the forecast period. Presence of market players such as Novartis AG, McKinsey & Company, Bristol-Myers Squibb Company etc. is propel the growth of market. In addition, early approval for car T cell products by the U.S. FDA is anticipated to drive the growth of the market in the region. For instance, in March 2021, Bristol Myers Squibb, a pharmaceutical company announced that the U.S. Food and Drug Administration (FDA) had approved Abecma.

• Major players operating in the global Car T cell therapy market include Novartis AG, McKinsey & Company, Bristol-Myers Squibb Company, Kite Pharma, Inc., Gilead Sciences, Inc., Amgen Inc., Juno Therapeutics, Eli Lilly and Company, and Fate Therapeutics, Sorrento Therapeutics, Inc.