The latest market report published by Acute Market Reports “CAR-T cell Therapy Market - Growth, Future Prospects, Competitive Analysis, 2020 - 2030” the global CAR-T cell therapy market is expected to grow at a significant CAGR of 35% during the forecast period of 2023 to 2030.
The Chimeric antigen receptor- T Cell Therapy Market is anticipated to grow at a significantly healthy CAGR of 35% during the forecast period of 2023 to 2030. The increase is primarily due to an increase in cancer patients’ rate combined with increased awareness of the therapy. This report covers all the qualitative and quantitative aspects of the Car-T Cell Therapy Market and also covers key drivers, restraints, challenges and opportunities that are impacting the growth opportunities of the market, and its future market trends.
CAR T-cell therapy is often referred to as a type of cell-based gene therapy because it involves changing the genes within T cells to help them attack cancer. The success rate of CAR-T cell therapy varies depending on the type of cancer being treated by a healthcare professional. The market has been segmented on the basis of Type of Targeted Antigens, Type of Approach, Therapeutic Areas, Products, End Users and by Regions. On the basis of Approach, Autologous was valued over US $700 Million for the year 2020 and was anticipated to grow at a compound annual growth rate of 25% while CD19 dominated the market among targeted antigens with a lion’s share of over 70% and is expected to grow at a compound annual growth rate of 26%. On the basis of Therapeutic Areas, diffuse large B-cell lymphoma presides the market with over 56% share for the year 2020.
According to a 2018 fact sheet published by the World Health Organization (WHO), tobacco consumption caused 7 million deaths each year. Lung cancer is the leading cause of death worldwide, accounting for 37% of all deaths. As a result, the growing number of cancer patients is expected to increase demand for CAR T-cell therapy and fuel the market's growth during the forecast period.
North America dominated the global CAR-T Cell Therapy market in 2021, accounting for over 60 percent of the total market share. The region's dominance is attributed to favorable reimbursement policies, rising incidences of severe lymphoblastic leukemia, early availability of CAR-T cell Therapy products, and high per capita healthcare expenditure. Western Europe and Asia Pacific, followed by North America led the market. Asia Pacific and Western Europe are anticipated to be the fastest-growing regions in the CAR-T therapy market in the coming years, with and expected CAGRs of 85% and 33%, respectively during the forecast period.
Major players of CAR-T Cell Therapy Market are Gilead Sciences, Novartis AG, Pfizer, Bluebird Bio, Sorrento Therapeutics, Celgene Corporation (Juno Therapeutics) and Allogeneic Therapeutics. Market leaders are focusing on Research and Development activities and new product launches as key strategy to enhance their market share.
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