by The Car T Cell Therapy Market is estimated to be valued at US$ 12709.23 Mn or Bn in 2023 and is expected to exhibit a CAGR of 20.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Car T cell therapy involves genetically modifying a patient’s own T cells to attack and kill cancer cells. It works by collecting T cells from a patient’s blood and genetically modifying them to recognize and attack cancer cells. The modified T cells are grown in large numbers in the lab and then infused back into the patient to generate an anti-tumor immune response. This innovative therapy has shown promising results in treating certain types of blood cancers that are difficult to treat with other therapies. Key products in this market include YESCARTA, KYMRIAH, TECARTUS and CARVYKTI.
Market Dynamics:
The rising prevalence of blood cancers like leukemia, lymphoma is a major factor propelling growth of the car T cell therapy market. According to statistics by American Cancer Society, over 110,000 new cases of leukemia and 79,000 new cases of non-Hodgkin lymphoma are expected to be diagnosed in the United States in 2021. Car T cell therapy has emerged as a promising treatment for these difficult to treat blood cancers. Moreover, ongoing research activities to expand the applications of car T cell therapy for treating solid tumors is expected to provide new growth avenues over the coming years. While the effectiveness of this therapy has been established, high treatment costs present a major challenge. Complex manufacturing, specialized equipment needs and costs associated with toxicities management contributes to high overall costs of CAR T-cell therapies. However, ongoing research around less complex manufacturing processes and efforts to reduce costs is expected to make these therapies more accessible over the forecast period.
Segment Analysis
The Car T Cell Therapy Market is dominated by the CD19 segment which holds around 70% share of the total market. CD19 targets B-cell hematological malignancies like acute lymphoblastic leukemia (ALL) and non-Hodgkin lymphoma (NHL). It has shown high efficacy and success rates in treating these cancers which has led to its widespread adoption and become the dominant segment.
PEST Analysis
Political: Regulations around cell and gene therapies are still evolving. However, supportive regulatory policies by authorities are helping expedite approvals and commercialization of novel therapies.
Economic: High cost of these therapies poses affordability challenges. However, value-based pricing and installment schemes can help address this issue to some extent.
Social: Increasing cancer prevalence is driving demand for advanced treatment options. Growing awareness is also positively impacting the social acceptance of these novel therapies.
Technological: Continuous innovations are improving efficacy and expanding indications. Use of platforms like CRISPR is introducing newer precision capabilities in this field.
Key Takeaways
The global car T cell therapy market is expected to witness high growth, exhibiting 20% CAGR over the forecast period, due to increasing prevalence of hematological cancers and new product approvals. The market size is projected to reach US$ 146,863.47 Mn by 2030 from US$ 12709.23 Mn in 2023.
North America leads the regional market and is expected to continue dominating due to presence of major players, higher adoption rates, and growing cancer burden. Favorable reimbursements are further supporting market growth in the region. Asia Pacific is poised to be the fastest-growing regional market owing to rising healthcare expenditure, increasing disposable incomes, and growing focus of international players on emerging countries.
Key players operating in the car T cell therapy market are Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Novartis AG, CARsgenTherapeutics Co., Ltd, Aurora Biopharma, Legend Biotech, Gilead Sciences, Inc., Pfizer Inc., bluebird bio, Inc., Sorrento Therapeutics, Inc., and Mustang Bio. These players are involved in new product launches, acquisitions, and collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
