Global CAR T-Cell Therapy Market Size To Worth USD 21.92 Billion By 2033 | CAGR of 17.72%
The Global CAR T-Cell Therapy Market Size was Valued at USD 4.29 Billion in 2023 and the Worldwide CAR T-Cell Therapy Market Size is Expected to Reach USD 21.92 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Sorrento Therapeutics, Inc., Novartis AG, GSK plc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, JW Therapeutics (Shanghai) Co., Ltd., Sangamo Therapeutics, bluebird bio, Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., and Other key vendors.
New York, United States, April 18, 2024 (GLOBE NEWSWIRE) -- The Global CAR T-Cell Therapy Market Size is to Grow from USD 4.29 Billion in 2023 to USD 21.92 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 17.72% during the projected period.
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Chimeric antigen receptor (CAR) T-cell therapy is the use of T cells, which are immune cells, that have been genetically modified in a lab to increase their ability to recognize and eliminate cancer cells. For some tumors, CAR T-cell therapy can be extremely effective when other treatments are not working. Furthermore, it is expected that throughout the projected period, increasing cancer incidence will support the global market expansion for CAR T-cell therapy. For instance, in February 2022, the World Health Organization (WHO) published a data sheet indicating that 2.26 million cases of breast cancer were found globally in 2021 and that 400,000 children worldwide receive a cancer diagnosis each year. The increasing incidence of cancer is expected to drive up the production of CAR T-cells for use in therapeutic areas. It is well-recognized that altered T-cell receptors may be used to treat several malignancies. Chimeric immunoreceptors are becoming more widely used because they enable T-cells to identify and destroy cancer cells that have the specific protein that the receptor can bind to. However, the market's growth is limited by the rising cost of drugs for treating chimeric antigen receptor T-cells and higher out-of-pocket costs.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "*Global CAR T-Cell Therapy Market **Size, Share, and COVID-19 Impact Analysis, By Drug Type (Axicabtagene Ciloleucel, Lisocabtagene Maraleucel, Brexucabtagene Autoleucel, Idecabtagene Vicleucel, Tisagenlecleucel, Ciltacabtagene Autoleucel, Others), By Indication (Non-Hodgkin Lymphoma, Multiple Myeloma, Acute Lymphoblastic Leukemia, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."*
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*The axicabtagene ciloleucel segment is anticipated to hold the greatest share of the global CAR T-cell therapy market during the projected timeframe. *
Based on the drug type, the global CAR T-cell therapy market is divided into axicabtagene ciloleucel, lisocabtagene maraleucel, brexucabtagene autoleucel, idecabtagene vicleucel, tisagenlecleucel, ciltacabtagene autoleucel, and others. Among these, the axicabtagene ciloleucel segment is anticipated to hold the greatest share of the global CAR T-cell therapy market during the projected timeframe. This is because axicabtagene ciloleucel is in greater demand, which has resulted in the observed dominance. Other contributing factors are the rising incidence of non-Hodgkin lymphoma, rising healthcare expenses, and increased public awareness produced by various campaigns.
*The axicabtagene ciloleucel segment is anticipated to hold the greatest share of the global CAR T-cell therapy market during the projected timeframe. *
Based on the indication, the global CAR T-cell therapy market is divided into non-Hodgkin lymphoma, multiple myeloma, acute lymphoblastic leukemia, and others. Among these, the non-Hodgkin lymphoma segment is anticipated to hold the greatest share of the global CAR T-cell therapy market during the projected timeframe. The increasing number of initiatives to raise public awareness of these conditions, which have resulted in more diagnoses and a growing market for treatment solutions, has made this situation even worse.
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*North America is expected to hold the largest share of the global CAR T-cell therapy market over the forecast period*.
North America is expected to hold the largest share of the global CAR T-cell therapy market over the forecast period. This is because hematopoietic cancer is growing in frequency and receiving more diagnoses and treatments. Additionally, when adequate remuneration is offered for hospital stays that require inpatient care, the major nations in the region are incentivized to embrace state-of-the-art medical care. Hospitalizations for Chimeric Antigen Receptor T-cell therapy are categorized as MS-DRG 018, with a base reimbursement rate of USD 246,958, according to a September 2022 Avalere Health article. The region's success is also attributed to industry participants' introduction of new products and technological advancements in the field.
Asia Pacific is predicted to grow at the fastest pace in the global CAR T-cell therapy market during the projected timeframe. This can be linked to an increase in clinical studies, patients' increased awareness of novel and cutting-edge treatments, and the importance big industrial companies are making on obtaining regulatory clearances before releasing and selling their products in the market. The market in this region is expanding as a result of each of these causes. An IND for JW Therapeutics (Shanghai) Co., Ltd., for example, was granted by China's National Medical Products Administration (NMPA) in February 2022. With this approval, the business can move on with a significant clinical trial that uses relmacabtagene autoleucel, an autologous chimeric antigen receptor T-cell immunotherapy product that targets CD19, to treat large B-cell lymphoma.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global CAR T-cell therapy market include Sorrento Therapeutics, Inc., Novartis AG, GSK plc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, JW Therapeutics (Shanghai) Co., Ltd., Sangamo Therapeutics, bluebird bio, Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., and Other key vendors.
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*Recent Developments*
· *In March 2024, *the FDA expeditiously approved Breyanzi, a CD19-directed chimeric antigen receptor (CAR) T cell therapy, for the treatment of adult patients with relapsed or refractory small lymphocytic lymphoma (SLL) or chronic lymphocytic leukemia (CLL) who have received at least two prior lines of therapy, which included an inhibitor of B-cell lymphoma 2 (BCL-2) and an inhibitor of Bruton tyrosine kinase (BTK) inhibitor.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global CAR T-cell therapy market based on the below-mentioned segments:
*Global CAR T-Cell Therapy Market, By Drug Type*
· Axicabtagene Ciloleucel
· Lisocabtagene Maraleucel
· Brexucabtagene Autoleucel
· Idecabtagene Vicleucel
· Tisagenlecleucel
· Ciltacabtagene Autoleucel
· Others
*Global CAR T-Cell Therapy Market, By Indication*
· Non-Hodgkin Lymphoma
· Multiple Myeloma
· Acute Lymphoblastic Leukemia
· Others
*Global CAR T-Cell Therapy Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of the Middle East & Africa
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