CAR T-Cell Therapy Market to Surpass Valuation of USD 106.06 Billion by 2031 | SkyQuest Technology
Westford, USA, Nov. 18, 2024 (GLOBE NEWSWIRE) -- CAR T-Cell Therapy Market size was valued at USD 7.27 billion in 2023 to USD 106.06 billion by 2031, growing at a CAGR of 39.80% during the forecast period (2024-2031). Due to its extraordinary efficacy in combating hematological malignancies such as non-Hodgkin’s lymphoma (NHL) and acute lymphoblastic leukemia (ALL), the acceptance of CAR T-cell therapy has considerably increased, thereby enhancing the prospects of growth in the industry. CAR T cell therapy is a treatment that concentrates on healthy cells within the body and only attacks the cancerous cells. These benefits are expected to boost growth even further. However, the manufacturing and utilization of CAR T cells was adversely affected due to the advent of the COVID-19 pandemic.
Browse in-depth TOC on the " CAR T-Cell Therapy Market"
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Tables – 95
Figures – 73
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CAR T-Cell Therapy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.27 Billion |
| Estimated Value by 2031 | USD 106.06 Billion |
| Growth Rate | Poised to grow at a CAGR of 39.80% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Disease Indication, and End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Development of allogeneic CAR T-cell therapy |
| Key Market Opportunities | Rising investments cell research |
| Key Market Drivers | Demand for personalized medicine |
CAR T-Cell Therapy Market Segmental Analysis
Global CAR T-Cell Therapy Market is segmented by Product, Target, Indication, Demographic, End User, and region.
Based on Product, the market is segmented into Yescarta, Kymriah, Carvykti, Abecma, Tecartus, Breyanzi, and Other Products.
Based on Target, the market is segmented into CD19, BCMA, and Other Targets.
Based on Indication, the market is segmented into Multiple Myeloma, B-Cell Lymphoma, Acute Lymphoblastic Leukemia, and Other Indications.
Based on Demographic, the market is segmented into Adults, and Pediatrics.
Based on End User, the market is segmented into Hospitals, Specialty Centers, and Long-Term Care Facilities.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Lymphoma to Hold Significant Growth due to High Prevalence to Conventional Treatments
Lymphoma's dominance in the global CAR T-cell therapy industry is driven by its high prevalence and limited response to conventional treatments, creating a strong demand for innovative therapies. The ability to effectively target and kill specific cancer cells by CAR T-cell therapy uniquely tackles the biological makeup of lymphoma, thereby boosting the adoption of the therapy along with its market growth due to the noticeable results of the therapy.
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Hospitals to Lead Market due to Having Necessary Advanced Medical Infrastructure
Hospitals dominate the global CAR T-cell therapy market due to their advanced medical infrastructure, skilled healthcare professionals, and capacity to handle complex procedures, which are essential for CAR T-cell treatment. Such arrangements also facilitate easy supervision and control of any likely adverse reactions, hence making them suitable for the administration of these therapies, further cementing the global CAR T-cell therapy market growth.
North America to Dominate Market due to Extensive Research Funding and Early Regulatory Approvals
North America leads the global CAR T-cell therapy market due to high healthcare investments, extensive research funding, and early regulatory approvals, which drive rapid therapy development and access. Moreover, the association of large biopharma companies along with the network of dedicated treatment facilities, enhances the innovation and availability further cementing North America’s leading position in the global CAR T-cell therapy market forecast.
CAR T-Cell Therapy Market Insight
Drivers:
- Rising Incidence of Lymphoma and Leukemia
- Progress in Genetic Modification Techniques
- Proven Success Rates in Treating Certain Cancers
Restraints:
- Substantial Cost of CAR T-cell Treatment
- CAR T-cell Therapy Requires Personalized Manufacturing Process
- Limited Insurance Coverage & Reimbursement Options
Prominent Players in CAR T-Cell Therapy Market
- Novartis AG (Switzerland)
- Johnson & Johnson (US)
- JW (Cayman) Therapeutics Co. Ltd. (Cayman Islands)
- Immunoadoptive Cell Therapy Private Limited (Immunoact) (India)
- Carsgen Therapeutics Holdings Limited (China)
- IASO Biotherapeutics (China)
- Guangzhou Bio-Gene Technology Co., Ltd (Hedy Group Co., Ltd.) (China)
- Cartesian Therapeutics, Inc. (US)
- Autolus Therapeutics (UK)
- Allogene Therapeutics (US)
- Crispr Therapeutics (Switzerland)
- Wugen (US)
- Sangamo Therapeutics, Inc. (US)
- Bluebird Bio, Inc. (US)
- TCR2 Therapeutics Inc. (US)
- Genocea Biosciences, Inc. (US)
- Blairex Laboratories, Inc. (US)
- Medigene AG (Germany)
- Athenex, Inc. (US)
- Zymeworks Inc. (Canada)
- Regenxbio Inc. (US)
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Key Questions Answered in Global CAR T-Cell Therapy Market Report
- What is the projected market size of the global CAR T-cell therapy industry by 2031?
- Why is North America expected to dominate the market?
- Which disease indication is driving demand for CAR T-cell therapy?
This report provides the following insights:
Analysis of key drivers (Positive results from CAR T-Ceel clinical trials, higher cancer prevalence among aging populations, personalized medicine trend), restraints (No long-term treatment success rates, competition from alternative therapies), opportunities (Development of next-generation CAR T-cells, expanding applications beyond hematological cancers).
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the CAR T-cell therapy market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the CAR T-cell therapy market.
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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