CAR T-Cell Therapy Market: Current Analysis and Forecast (2021-2027)

CAR T-Cell Therapy Market: Current Analysis and Forecast (2021-2027)

CAR T-Cell Therapy is a type of immunotherapy that is regarded as s revolutionary therapy for cancer. In this therapy, the T-cells are taken from the patient’s blood and are modified in the laboratory for attacking the cancer cells. CAR T-cell therapy is most commonly used to treat certain blood cancers and is being studied for the treatment of other cancer types.

The growing adoption of CAR T-Cell Therapy can be attributed to the surging incidences of cancer coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Further, it has been estimated by CDC that the number of cancer cases in the US will increase 49% each year, from 1,534,500 in 2015 to 2,286,300 in 2050, with the largest percentage increase among adults aged ≥75 years. This exponential increase in cancer prevalence globally has created a buzz among various pharmaceutical companies for investing in the development of novel and effective cancer treatment. Thereby, boosting the growth of the CAR T-Cell Therapy Market.

Furthermore, the CAR T-Cell Therapy market is anticipated to grow on account of the growing technological advancement, a large number of ongoing research activities in this field, rising government and public-private investments, a huge CAR T-cell pipeline, and increasing FDA approvals. For example, in February 2022, the FDA approved carvykti, a new customized, cell-based treatment from Johnson & Johnson, for the treatment of multiple myeloma. However, some of the restraints in the market including high-touch commercial models and side-effects associated with CAR T-cell therapy are impeding the growth of this market all over the world.

Based on product, the market is segmented into abecma, breyanzi, kymriah, tecartus, and yescarta. The yescarta segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027.

Based on indication, the market is segmented into relapsed Large B-cell Lymphoma, Acute Lymphoblastic Leukemia (ALL), and Multiple Myeloma. The relapsed Large B-cell Lymphoma segment grabbed XX% market share of the CAR T-Cell Therapy market and gathered revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027.

Based on the end-users, the market is fragmented into hospitals, cancer treatments centers, and others. The hospitals segment captured XX% market share in 2020. The market of this segment is expected to reach USD XX million by 2027. However, cancer treatments centers are also likely to witness the fastest growth during the forecast period.

For a better understanding of the market adoption of the CAR T-Cell Therapy, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the CAR T-Cell Therapy industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players and the rising geriatric population in the region.

Some of the major players operating in the market are Novartis AG, Gilead Sciences, Inc., Amgen, Inc., Juno Therapeutics, Eli Lilly and Company, Sorrento Therapeutics, Fate Therapeutics, Inc., Johnson & Johnson, Celgene Corporation, Bluebird bio, Inc., among others. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced products.

The Global CAR T-Cell Therapy Market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021 to 2027. The CAR T-Cell Therapy market is expected to witness a boost, owing to the surge in the number of cancer incidences and advancement in technology.