CAR T-Cell Therapy Market's Impact on Cutting-edge Cancer Treatments

According to a new market research report, 'CAR T-Cell Therapy Market by Brand (Abecma [idecabtagene vicleucel], Breyanzi [lisocabtagene maraleucel], Yescarta [axicabtagene ciloleucel]), Target Antigen (CD, BCMA, HER2, Indication (Lymphoma, ALL, AML, Multiple Myeloma) - Global Forecast to 2030,' published by Meticulous Research®, the CAR T-Cell therapy market is projected to reach $51.6 billion by 2030, at a CAGR of 43.3% from 2023 to 2030.

The well-known cancer treatments have been surgery, chemotherapy, and radiation therapy, but new treatment modalities have recently helped transform the treatment scenario for people with cancer. This developed therapy is CAR T-Cell Therapy. The therapy includes collecting T-cells from the patient and re-engineering them in the laboratory to produce proteins called chimeric antigen receptors (CARs) on the surface. CARs recognize and bind on the surface of cancer cells. The engineered T-cells are expanded into the millions in the laboratory and then infused back into the patient. Then the CAR T cells will continue to multiply in the patient's body, and with the help of engineered receptors, they will recognize and kill any cancer cells that harbor the target antigen on their surfaces.

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The growth of this market is driven by increasing cancer prevalence, a rise in awareness regarding CAR T-cell therapy, and increasing R&D activities and clinical trials. However, the complex manufacturing process and adverse effects of the therapy may restrain the growth of this market. Additionally, a high scope in emerging economies, innovation in CAR T-cell therapies and manufacturing processes are creating opportunities for market growth. Moreover, the high treatment cost of therapy and the lack of skilled professionals are challenging factors for the market.

Rise in Awareness of CAR T-cell Therapy Boosts Market Growth

The advancement of technology and growing awareness regarding CAR-T cells results in "armoured CARs" that interact with cytokines that promote inflammation, such as Interleukin 15 (IL-15) or Interleukin 12 (IL-12). At the start of cancer-mediated immune suppression, it boosts CAR T-cell growth and persistence. Several governments have initiated numerous initiatives to raise public awareness about CAR T cell therapies and funded research into CAR T cell therapies. For instance, the National Cancer Institute (NCI) funded the research and development of CAR T-cell therapy and multiple research centers.

Additionally, some governments have increased their support for CAR T-cell therapies by providing legislative support, favorable reimbursement guidelines, collaborating with private companies, and performing clinical research studies to increase awareness of CAR T-cell therapies. Thus, rising awareness of CAR T-cell therapy is driving the growth of the CAR T-cell therapy market.

The CAR T-cell therapy market is segmented by drug type {Abecma [idecabtagene vicleucel], Breyanzi [lisocabtagene maraleucel], Kymriah [tisagenlecleucel], Tecartus [brexucabtagene autoleucel], Yescarta [axicabtagene ciloleucel], and Carvykti [ciltacabtagene autoleucel]}, target antigen (CD, BCMA, HER2, Other Target Antigens), indication (lymphoma, acute lymphoblastic leukemia, non-Hodgkin's lymphoma, multiple myeloma, acute myeloid leukemia, other indications), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

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Based on drug type, in 2023, the Yescarta (axicabtagene ciloleucel) segment is expected to account for the largest share of the CAR T-cell therapy market. The large market share of this segment is attributed to the numerous advantages of idecabtagene vicleucel, such as clinical advantages which offer a complete response and safe treatment.

Based on target antigen, the CD target antigen segment is projected to register the highest CAGR during the forecast period due to strong product pipeline, the increasing clinical trials focusing on the CD antigen therapies, and the ongoing research studies to develop the therapies focusing on the CD target antigen.

Based on indication, in 2023, the lymphoma segment is expected to account for the largest share of the CAR T-cell Therapy market. The rising prevalence of lymphoma globally, affecting people of all ages and the adoption of CAR T-cell therapy as the treatment method among other treatment methods primarily contributed to the largest share of the segment.

Based on geography, in 2023, North America is expected to account for the largest share of the global CAR T-cell therapy market, followed by Europe and Asia-Pacific. The presence of several therapy product manufacturers, growing awareness toward the advantages of CAR T-Cell therapies, active involvement of academic and research institutes to conduct advanced research and development, and support from the government to promote the use of CAR T-cell therapy for cancer treatment. However, Asia Pacific is expected to register the fastest CAGR during the forecast period. The growth of this market is mainly driven by the large pool of patient population seeking cancer treatment, increasing prevalence of cancer, investments by the major players in the market, increasing government spending on healthcare, and growing disposable income of the population leading to improved access to cancer treatment.

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The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market players in the past few years. In recent years, the CAR T-cell therapy market has witnessed several organic and inorganic strategic developments. Some of the key players operating in this market are Novartis AG (Switzerland), bluebird bio, Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Caribou Biosciences, Inc. (U.S.), Cartesian Therapeutics, Inc. (U.S.), Pfizer Inc. (U.S.), Cellectis S.A. (France), Celyad Oncology SA (Belgium), Gilead Sciences, Inc. (U.S.), Intellia Therapeutics, Inc. (U.S.), Merck & Co., Inc. (U.S.), Amgen Inc. (U.S.), Inovio Pharmaceuticals, Inc. (U.S.), and OncoTherapy Science, Inc. (Japan).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/car-t-cell-therapy-market-5508

Scope of the Report:

CAR T-Cell Therapy Market Size & Trend Analysis - by Brand

Abecma (idecabtagene vicleucel)
Breyanzi (lisocabtagene maraleucel)
Kymriah (tisagenlecleucel)
Tecartus (brexucabtagene autoleucel)
Yescarta (axicabtagene ciloleucel)
Carvykti (ciltacabtagene autoleucel)
Other Brands
CAR T-Cell Therapy Market Size & Trend Analysis - by Target Antigen

CD
BCMA
HER2
Other Target Antigens
Other target antigens majorly include EGFR, GD2, MUC16, Lewis Y, and ROR1

CAR T-Cell Therapy Market Size & Trend Analysis - by Indication

Lymphoma
Acute Lymphoblastic Leukemia
Multiple Myeloma
Acute Myeloid Leukemia
Other Indications
Other indications include pancreatic cancer, breast cancer, ovarian cancer, scleroderma, HIV/AIDs, and autoimmune diseases.

CAR T-Cell Therapy Market Size & Trend Analysis - by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of APAC
Latin America
Middle East & Africa
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This release was published on openPR.