CAR T Cell Therapy Market – Global Trends, Growth, Analysis and Forecast till 2028

CAR T Cell Therapy Market
CAR T Cell Therapy Market
Press Release

The Global Car T Cell Therapy Market is expected to be valued at US$ 7.7 Billion by 2028, as analyzed by Coherent Market Insights. 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.

Market Dynamics

CAR-T cell therapy is expected to be an important development in cancer treatment and therapeutics industry due to its cost efficiency. Moreover, rising incidence of cancer is leading to high demand for its treatment. According to the World Cancer Research Fund International (WCRFI), around 14.1 million cancer cases were reported worldwide, in 2012. As per WCRFI, it is projected that by 2035, around 24 million cancer cases would be observed worldwide. Moreover, introduction of new therapies into the market is further expected to bolster growth of CAR-T cell therapy market. For instance, in October 2017, the U.S. Food and Drug Administration granted marketing approval to Yescarta (axicabtagene ciloleucel), a cell-based gene therapy, to treat adult patients with certain types of large B-cell lymphoma. However, risks of side effects resulting in various neurological disorders is expected to hinder growth of the global CAR-T cell therapy market.

Market players are engaged in developing and launching innovative products and adopt merger and acquisition strategies to retain position in the global CAR-T cell therapy market

Key players in the market are engaged in extensive research and development to launch new targeted cell therapies in the market. For instance, the University of Texas MD Anderson Cancer Center, Houston is conducting phase 1 clinical trial studies of central memory–derived CD19 CAR T–cell therapy for relapsed intermediate-grade B-cell non-Hodgkin lymphoma. Moreover, key players are focusing on strategic merger and acquisition to enhance their share in the global CAR-T cell therapy market. For instance, in April 2018, Pfizer, Inc. signed a deal with Allogene, to develop an investigational CAR-T cell therapy for treating cancer.

Key players operating in the global CAR-T cell therapy market include Novartis International AG, Kite Pharma, Inc. (Gilead Sciences, Inc.), Juno Therapeutics (Celgene Corporation), Bluebird Bio, Inc. (Celgene Corporation), Sorrento Therapeutics Inc., Mustang Bio, Inc., Aurora Biopharma Inc., Legend Biotech (Genscript Biotech Corporation), Pfizer, Inc., CARsgen Therapeutics, Ltd., and others.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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