CAR T-cell Therapy Market Is Expected to Reach USD 6.1 Billion by 2030, Grow at a CAGR Of 13.5% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
Contrive Datum Insights Pvt Ltd
10 min read
Contrive Datum Insights Pvt Ltd
According to a market research study published by Contrive Datum Insights, North America is the biggest market for CAR T-cell therapy right now, and it is likely to stay that way in the years to come.
Farmington, March 30, 2023 (GLOBE NEWSWIRE) -- The global CAR T-Cell Therapy Market Was Valued at USD 1.7 Billion In 2022, And Is Projected to Reach USD 6.1 Billion By 2030, growing at a CAGR Of 13.5% From 2022 to 2030. The market for chimeric antigen receptor (CAR) T-cell therapies is called the global CAR T-cell therapy market. CAR T-cell therapies are a type of immunotherapy that involves changing a patient's T-cells to target and kill cancer cells. CAR T-cell therapy is a promising new way to treat some types of cancer, and clinical trials have shown that it has a lot of promise.
In the next few years, the global CAR T-cell therapy market is expected to grow a lot. This is because more people are getting cancer around the world and more people are looking for new and innovative cancer treatments.
Several things are driving the market, such as the growing number of clinical trials looking into the use of CAR T-cell therapies, the rising number of people with cancer, and the increasing amount of money that biotechnology and pharmaceutical companies are spending on research and development. Also, the approval of CAR T-cell therapies like Kymriah and Yescarta by the FDA has made it easier for new therapies to be made and has made the market bigger.
But the growth of the market could be slowed down by the high cost of CAR T-cell therapies, the complexity of the treatment, and the risk of serious side effects. Still, the market for CAR T-cell therapy is likely to keep growing as new therapies are made and more people can get this promising treatment.
CAR T-cell therapy is most often used to treat ALL, and this is likely to stay the case in the years to come. The main things driving the growth of the market are the high rate of ALL and the growing use of CAR T-cell therapy as a standard treatment for ALL.
Multiple myeloma, solid tumors, and glioblastoma are all types of cancer that are being studied with CAR T-cell therapy in clinical trials that are still going on. If CAR T-cell therapy is made to work for these conditions, it could make the outlook segment of the global CAR T-cell therapy market much bigger.
At the moment, ALL, DLBCL, and MCL are the most important indications for CAR T-cell therapy on the global market. But there are still clinical trials going on to see if CAR T-cell therapy can be used to treat other types of cancer, which could lead to the market growing. The growth of the market in each indication is based on many things, such as how common the disease is, whether or not CAR T-cell therapy is available, and whether or not new therapies are being made.
Drug Type Insights:
Autologous CAR T-cell therapy involves taking a patient's own T-cells, changing them genetically so they can express a chimeric antigen receptor (CAR), and then putting them back into the patient. This type of CAR T-cell therapy is the most common and is expected to take over the market soon.
Switchable CAR T-cell therapy uses a CAR T-cell therapy that can be turned on and off by giving a small molecule. This type of CAR T-cell therapy is still in its early stages of development, but it could make CAR T-cell therapy safer and more effective.
End User Insights:
Research institutes are important end users of CAR T-cell therapy because they are involved in making and testing new CAR T-cell therapies. Research institutes also offer a place to do preclinical studies, which are important for making progress on CAR T-cell therapies.
In the end-user segment of the global CAR T-cell therapy market, hospitals, clinics, and research institutes make up most of the market. These facilities are very important for making, testing, and giving out CAR T-cell therapy. As more people use CAR T-cell therapy, there may be more demand for it in other types of health care facilities, such as ASCs.
Regional Outlook:
North America is the biggest market for CAR T-cell therapy right now, and it is likely to stay that way in the years to come. The market is growing because there is a lot of cancer in the area and there are a lot of big biotechnology and pharmaceutical companies there.
Europe is the second largest market for CAR T-cell therapy, and it is expected to grow a lot over the next few years. The growth of the market is mostly due to the increasing use of CAR T-cell therapy, good reimbursement policies, and the presence of large biotechnology and pharmaceutical companies.
North America: (US, Canada, Mexico, Rest of North America)
Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America(Brazil, Argentina, Rest of Latin America)
Rest Of the World
Base Year
2022
Historical Year
2017 to 2022
Forecast Year
2023 to 2030
Market Dynamics:
Latest Trends:
Increasing prevalence of cancer: The number of people getting cancer around the world is going up, and this is one of the main reasons why the CAR T-cell therapy market is growing. As the number of people with cancer keeps going up, there is a growing need for new and creative ways to treat the disease.
Partnerships and collaborations: Biotechnology and pharmaceutical companies are working together to make CAR T-cell therapies and sell them to the public. The goal of these partnerships is to speed up the creation and sale of new therapies, which will help the market grow.
Restraining Factors:
High cost: CAR T-cell therapy is a very complicated and expensive way to treat cancer. The high cost of treatment is one of the main things that patients and doctors have to think about. CAR T-cell therapy is hard for many people to get because of how much it costs, especially in developing countries.
Regulatory challenges: The approval process for CAR T-cell therapy by the government is complicated and takes a long time. This could make it harder for new therapies to be made and sold, which could slow the growth of the market.
Opportunity Analysis:
Development of new therapies: The market for CAR T-cell therapy is still in its early stages, and there is a lot of room for new therapies to be made. Biotechnology and pharmaceutical companies are spending a lot of money on research and development. As more therapies become available, the market is expected to grow.
Increasing regulatory approvals: Two CAR T-cell therapies have already been approved by the FDA, and more therapies could be approved in the future. As more therapies get approved by the government, the market is likely to grow.
Challenges:
High cost: CAR T-cell therapy is a complicated and expensive treatment, which makes it harder for patients to get and makes it harder for them to get. The high cost of the treatment can also make it hard for doctors and insurance companies to pay for it.
Limited availability: Currently, CAR T-cell therapy is only available in a small number of centers around the world. Many people can't get the treatment because there aren't enough of them, especially in developing countries.
Safety concerns: Some of the side effects of CAR T-cell therapy, like cytokine release syndrome (CRS) and neurotoxicity, can be very bad. Because of these safety concerns, CAR T-cell therapy may not be used as much and the market may not grow as fast.
Competition from alternative treatments: For many types of cancer, there are other ways to treat it, such as chemotherapy, radiation therapy, and targeted therapy. If these other treatments are available, the demand for CAR T-cell therapy could go down.
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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