Press release
Global TCR Therapy Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033
TCR Therapy Market
The TCR therapy market size is expected to see exponential growth in the next few years. It will grow to $0.65 billion in 2028 at a compound annual growth rate (CAGR) of 37.0%. The growth in the forecast period can be attributed to increase in ongoing clinical trials, the use of innovative technologies in healthcare, expanding application in solid tumors, regulatory support and streamlined approval processes, integration with complementary therapies. Major trends in the forecast period include expansion to solid tumors, next-generation TCR engineering, increasing personalization and neoantigen identification, global collaborations and strategic partnerships, continuous research in immunology and tumor biology.
Market Overview -
T-cell receptor (TCR) therapy refers to a form of immunotherapy that involves modifying a patient's T cells to better recognize and attack cancer cells. It is primarily used as a treatment for cancer and is designed to harness the power of the body's own immune system to target and destroy cancer cells.
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Growing Incidence Of Cancer Is Driving The TCR Therapy Market
The growing incidence of cancer is expected to propel the growth of the TCR therapy market going forward. Cancer refers to a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body. These cells can invade and destroy healthy tissues, impairing the function of organs and bodily systems. It arises because of lifestyle factors, the aging population, the obesity epidemic, and genetic factors. T-cell receptor (TCR) therapy harnesses the power of the immune system to specifically target and improve the effectiveness of TCR therapy, making it a potentially transformative approach for cancer treatment in the future. For instance, in October 2022, Macmillan Cancer Support, a UK-based healthcare charity organization, estimated that there were 3 million people having cancer in 2020, and it is estimated that it will rise to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Therefore, the growing incidence of cancer is driving the growth of the TCR therapy market.
Competitive Landscape -
Major companies operating in the TCR therapy market are Pfizer Inc., Johnson & Johnson Services Inc., Novartis AG, Bristol Myers Squibb Company, GlaxoSmithKline PLC, Gilead Sciences Inc., Bluebird bio Inc., Immunocore Limited, Immatics N.V., Poseida Therapeutics Inc., Fate Therapeutics Inc., Atara Biotherapeutics Inc., Intellia Therapeutics Inc., Precision Biosciences Inc., Takara Bio Inc., Tessa Therapeutics, Adaptimmune Therapeutics plc, Cellectis S.A., Zelluna Immunotherapy AS, Cellular Biomedicine Group Inc., Lion TCR Pte Ltd., TCRCure Biopharma Corp., Asher Biotherapeutics Inc., Be Biopharma Inc., Alaunos Therapeutics Inc., China Immunotech Inc.
Strategic Partnerships Driving Innovation In The TCR Therapy Industry
Major companies operating in the TCR therapy industry are adopting a strategic partnership approach to provide essential treatments to patients and gain a competitive edge in the market. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in December 2023, ImmunoScape, a US-based biotechnology company, partnered with the Experimental Drug Development Centre (EDDC), a Singapore-based pharmaceutical company, to develop new TCR-based bispecific molecules for solid tumors. This partnership aims to leverage ImmunoScape's expertise in systems immunology and computational biology, along with EDDC's capabilities, to advance research in this field and create a strategic alliance that leverages their unique strengths to accelerate the development of more accessible and potentially more effective cancer treatments.
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Key Segments -
The TCR therapy market covered in this report is segmented -
1) By Product Type: Infusions, Injectables, Other Product Types
2) By Indication: Leukemia, Lymphoma, Myeloma, Other Indication
3) By Distribution Channel: Online, Offline
4) By End-User: Hospital Pharmacy, Retail Pharmacy, Specialty Clinics
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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