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Global CAR-T Therapy Pipeline Analysis, Market Growth, Trends, Opportunities 2024
CAR-T Therapy Pipeline Analysis, Global Market Overview
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According to The Business Research Company's, The car-t therapy pipeline analysis market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.55 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to increases in healthcare expenditure, increase in pharmaceutical r&d expenditure and advances in drug discovery.
The car-t therapy pipeline analysis market size is expected to see rapid growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to increase in blood cancer incidence rate, rise in healthcare expenditure, strong pipeline of drugs and rising focus on car-t therapy. Major trends in the forecast period include investing in the r&d for creating remodeled car-t therapy to avoid neurological side-effects, creating off-the-shelf allogeneic car-t therapy for advanced cancer treatment, manufacturing next-generation car t cells for improved treatment of high-grade glioma, investing in ai and machine learning solutions to optimize future car-t therapy, carrying out strategic collaborations to boost innovations, collaborating or acquiring competitor companies to expand car-t therapy portfolio, and investing in the car-t therapy to make it more effective.
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Market Drivers and Trends:
The CAR-T therapy market is driven by the increasing financial support provided by different organizations to promote the development and consumption of CAR-T therapy. The government and non-government organizations provide financial support to the companies in the CAR-T therapy market for research and development and the patients for their treatment of acute lymphoblastic leukemia (ALL). For instance, in December 2021, the University of California San Diego School of Medicine (CA, USA) was granted a funding of US$ 4.1 million for the development of novel chimeric antigen receptor (CAR-T) cell therapy. The grant was awarded by California Institute for Regenerative Medicine (CIRM; CA, USA) governing board. The financial support provided by different organizations towards CAR-T therapy positively drives the growth of the CAR-T therapy market.
The companies in the CAR-T therapy market are conducting clinical trials to assess the ability of CAR-T therapy to treat multiple myeloma. Multiple myeloma is a type of white blood cell cancer where the cancer cells accumulate in the bone marrow and surrounds the healthy blood cells. CAR-T therapy is being tested as a treatment for multiple myeloma. CAR-T cells are modified to target the multiple myeloma causing cells to treat the relapsed or refractory multiple myeloma (RRMM). For instance, in December 2021, Novartis announced the introduction of T-Charge™, the company's next-generation CAR-T platform that will serve as the foundation for various new investigational CAR-T cell therapies in the Novartis pipeline. The product was in the early clinical stage (Phase I).
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Major Key Players of the Market:
Gilead Sciences, Novartis AG, Biocon, Gracell Biotechnology Ltd, Aeon Therapeutics, CARsgen Therapeutics, Daiichi Sankyo, Otsuka Pharmaceutical, Ono Pharmaceutical, Japan Tissue Engineering, Nipro Corporation, Takeda Pharmaceutical Company, Astellas Pharma, Innovative Cellular Therapeutics, Cellular Biomedicine Group, PersonGen Biomedicine, Hebei Senlang Biotech, Adaptimmune(UK), Autolus Therapeutics, BioNTech, Cellectis, Celyad, Crescendo Biologics, GammaDelta Therapeutics, Immatics, Biocad, Celgene Corporation, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Amgen, AstraZeneca, Bayer AG, Merck, Pfizer, Juno Therapeutics, Allogene Therapeutics, Bluebird Bio Amgen, Regen BioPharma, OncoSec Medical Incorporated, Precision BioSciences, Bellicum, Sandoz AG, GlaxoSmithKline plc, Elekta, SudairPharma, Janssen, Aspen, Adcock Ingram
CAR-T Therapy Pipeline Analysis Market 2024 Key Insights:
• The car-t therapy pipeline analysis market size is expected to see rapid growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%.
• Financial Support Driving Growth In The Car-T Therapy Market
• Clinical Trials And Advancements In Car-T Therapy For Multiple Myeloma
• North America was the largest region in the CAR-t therapy market in 2023
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Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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