The global Car T Cell Therapy Market is estimated to be valued at US$ 12709.23 Mn 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.
Car T cell therapy uses genetically modified T cells, a type of white blood cell, known as chimeric antigen receptor (CAR) T cells that are designed to recognize and attack cancer cells. CAR T-cell therapy holds promise for improving outcomes for some patients with otherwise difficult-to-treat blood cancers. This innovative approach to cancer treatment has demonstrated high rates of remission in patients with certain types of lymphoma and leukemia.
Market key trends:
One of the key trends in the Car T Cell Therapy Market is the rising number of clinical trials. Several pharmaceutical companies are conducting clinical trials to test the safety and efficacy of CAR T-cell therapy in treating various blood cancers and solid tumors. According to clinicaltrials.gov, as of June 2023, there were over 1,300 clinical trials worldwide evaluating CAR T-cell therapy for various cancer types, including leukemia, lymphoma, multiple myeloma, and solid tumors like lung cancer, melanoma, and prostate cancer. The number of clinical trials indicates strong research and development of CAR T-cell therapy as an emerging treatment option for various cancers.
The global car T cell therapy market is segmented into target antigen, manufacturing, indication, end user, and region. Based on target antigen, the market is segmented into CD19, CD22, BCMA, and others. The CD19 segment dominates the market owing to rising research and development of CD19 targeted car T cell therapies. CD19 is involved in the formation of mature B-cells and is expressed on the surface of B-cell lymphoma, acute lymphoblastic leukemia, and chronic lymphocytic leukemia cells, making it an attractive target for car T cell therapy.
The global Car T Cell Therapy Market size was valued at US$ 12,709.23 Million In 2023 and is expected to witness high growth, exhibiting a CAGR of 20% over the forecast period. The increasing prevalence of cancer and rising investments in cell and gene therapies are driving the market growth.
North America holds the largest share of the car T cell therapy market owing to presence of well-developed healthcare infrastructure and increasing adoption of advanced treatment options. Asia Pacific is expected to witness fastest growth during the forecast period. Growing healthcare spending, rising geriatric population, and increasing investments by key players are boosting the regional market growth.
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, Fate Therapeutics. The market players are adopting various organic and inorganic strategies such as new product launches, collaborations & partnerships, and acquisitions to expand their geographical presence and customer base.