CAR-T Cell Therapy Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028
The global CAR-T cell therapy market is set to chart stellar growth owing to an impressive CAGR (Compound Annual Growth Rate) between 2018 and 2028. Multiple factors driving growth in the market, and thus contributing to generation of a plethora of growth opportunities, include increase in incidence of cancer and rising investment in the field of immune oncology.
Thus, it does not come as a surprise that research is being carried out at an intense level and funding is seeing an inflow from both government and pharmaceutical players. As per WHO, it can be prevented by managing lifestyle such as smoking habits and few other parameters such as exposure to gasoline, radiation, etc. It is noteworthy here that prevention can happen only to a limited extent.
Certain developments happening in the market place are transforming the landscape. Some of these are outlined below.
In 2017, U.S. FDA approved Tisagenlecleucel (Kymriah), CAR-T cell therapy which is historic in its right. It is used for treating ALL (Acute Lymphoblastic Leukemia) in young adults and children. This happened in August and in October of the year, Yescarta for treating refractory or relapsed diffuse large B-cell lymphomas.
In 2018, the same treatment – Kymriah - was approved for another indication. It is diffuse large B-cell Lymphoma. The same year, both treatments were approved in Europe.
The global CAR-T Cell Therapy market is consolidated and highly competitive. Key names in the global CAR-T Cell Therapy market Gilead Sciences, Inc., Bellicum Pharmaceuticals, Inc., Immune Therapeutics, Celgene Corporation, Cellectis, Kite Pharma, Eureka Therapeutics, Juno Therapeutics, Sorrento Therapeutics and Novartis AG among others.
The global CAR-T Cell Therapy market is on an upward growth curve owing to various trends and drivers. Some of the prominent ones are outlined below
Europe and Asia Pacific will hold a substantial share of the global CAR-T Cell Therapy Market owing to increasing cases of leukemia. North America and Europe will also see growth owing to a large patient pool, better healthcare infrastructure and good levels of awareness. Besides, research and development programs are increasing like that for Kymriah, mentioned above.. And, approvals are also contributing positively to the growth of the global CAR-T cells market. This awareness levels are also seeing a steep upward curve in the Asia Pacific region, creating lucrative opportunities for players operating in the global CAR-T Cell Therapy market.
The market is segmented as presented below:
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