ID: MRFR/HC/6630-CR | 88 Pages | Published By Rahul Gotadki on February 2021
The rising market trends and demand are likely to show a positive result for the CAR-T cell therapy market size. Based on the forecast laid by the industry experts, the market is likely to grow at a CAGR of 48.96% during the forecast period and reach a final market value worth USD 10.41 Billion by the end of the period in 2027. Chimeric Antigen Receptor (CAR)-T is a novel treatment that includes reengineering of the WBC’s of the patient to help in fighting the malignant cells by identifying them.
COVID 19 Analysis of CAR-T Cell Therapy Market
Owing to the advanced degree to which the global coronavirus pandemic is unfolding and the continuous variants and waves that have disrupted the lives of people across the globe, the industries, and market players are equally suffering the wrath. So much so, that some of the business players have given up and they are shutting their manufacturing and production units. Also, the imposed lockdown has not proved to be of any benefit as people are working from home which is disrupting both their personal and professional life, thus, resulting in an increased degree of unavailability of a skilled workforce that is further, hampering the ability to meet the demand quantum as a result of inefficient production. Also, the raw material available is no or very little quantity that is hampering the quality of products and it has become nearly impossible for the businesses to function amid a series of restrictions and cross-border difficulties.
Hence, the need of the hour is for the public sector to intervene and the governments of the global locations to enhance the funds that will help in the market’s revival. Also, it is important to understand that the population is increasing and the demands of people are different. The key market players should enhance their production ability and take it to the international market to launch a variety of products. Also, mergers and acquisitions are an important and innovative way to help the target audience choose from a variety of products and change their lifestyle preferences accordingly.
CAR-T Cell Therapy Market Dynamics
The CAR-T cell therapy market companies are expected to thrive at an excellent rate during the ongoing forecast period of 2021-2027. The overall industry has a very dynamic approach and the key players belonging to the market are gaining access in the major CAR-T cell therapy market size. The companies are securing the treatment centers that will help in increasing patients owing to the development of a series of medical service demands.
There have various growth restraints that emerge as major issues for the market while on its path of growth during the forecast period that ends in 2027. One of the major restraints that the market players tend to face is the lack of demand for treatment. The target population is too rigid and understands the native methods of treatment only. Also, the associated cost for treatment is very high that does not sit well with the people as they belong to different income groups and spending capacities. If the cost and prices are not reduced, the global CAR-T cell therapy market trends and operations are likely to pose major restraints for the market and bar the market from growing as per the predictions laid by the industry leaders and CAR-T cell therapy market experts during the forecast period of 2021-2027.
The rising rate of people being diagnosed with various types of cancer is one of the major reasons that lead to the death of the global population. Hence, the need of the hour is for the companies to evolve the conventional and cytotoxic immunotherapies that are available on the global market scale. The tumors are believed to have complex behaviors and the degree of involvement of a variety of cellular and genetic factors in metastasis and tumorigenesis is pushing the companies to divert their trends in the development of new treatment trends so that the main focus lays on tumors at both the stated levels.
CAR-T Cell Therapy Market Segment Overview
The CAR-T cell therapy market report shows that the market has been segmented based on the following:
Based on the Target antigen:
The global CAR-T cell therapy market by targeted antigen includes BCMA that is B-Cell maturation antigen, CD19/CD22, and others like PSCA, Lewis Y, ROR1, NKR-2, and MUC16 amongst others.
Based on the Application:
The indication segment of the CAR-T cell therapy market includes Diffuse Large B-Cell Lymphoma, Acute Lymphoblastic Leukemia and Other.
Based on Geography:
Based on the division of the target audience, types of equipment, and resources, the CAR-T cell therapy market has been divided into 4 major regions namely North America, Europe, the APAC region, and the rest of the world.
CAR-T Cell Therapy Market Regional Analysis
The CAR-T cell gene therapy market analysis shows that the North American region shows signs of excellent growth during the period and is expected to grow at a global CAGR of 36.4%. Similarly, the changing trends in the European market and the increased use of proper technology will help the CAR-T cell therapy market grow at a significant rate. The recommended approvals of Yescarta and Kymriah by the European Medicine Agencies (EMA), are showing signs of positive attributes that will help the market boost its overall growth during the forecast period that ends in 2028.
The rising degree of competition in the global CAR-T cell therapy market scenario is the result of recent developments of CAR-T cell therapy companies. They are as follows:
The curated reports aim to have a deep and helpful discussion of the global manufacturing of the CAR-T cell therapy in terms of the market trends and dynamics that will lead the market towards splendid growth during the ongoing forecast period that ends in 2028. The CAR-T cell therapy market report aims to help the market investors gain qualitative market insights related to the performance of the market segments and the growth strategies taken by the market players in various regions during the period that will help both the companies and the domestic regions to grow on the international market scale. Also, the report is a clear depiction of the rising competition amongst the key market players and the aim is to consider the recent developments undertaken during the ongoing forecast period that ends in 2028.
|Market Size||USD 10.41 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Target Antigen, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Pfizer (US), Kite Pharma (US), Novartis (Switzerland), Cellectis (Switzerland) and Juno Therapeutics (US)|
|Key Market Opportunities||Increase in the setups of research & development centers and the inclination of top companies toward the developing countries boost|
|Key Market Drivers||
The Market is expected to rise to a valuation of USD 10.41 Billion by 2027.
The global market is expected to exhibit a strong 42.98% CAGR over the forecast period.
The growing prevalence of cancer and the growing support for the development of effective therapies against cancer is the major driver for the market.
The U.S. holds an overwhelming majority in the global market and is likely to remain the dominant regional market over the forecast period.
Leading players in the market include Novartis, Pfizer, Juno Therapeutics, Kite Pharma, Autolus Therapeutics plc, CARsgen Therapeutics, Cellectis, and Sorrento Therapeutics, among others.