CAR-T Cell Therapy Market Size to Surpass US$ 25.40 Billion by 2031 - Growth Plus Reports
Newark, New Castle, USA, May 29, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports calculated the size of the global market for *CAR-T cell therapy* in *2022 to be worth US$ 2.46 billion* and is likely to increase at a revenue *CAGR of 29.60%* to *reach US$ 25.40 billion by 2031*.
Analysis of the global market for CAR-T cell therapy indicates that during the forecast period, revenue share is likely to increase significantly. A form of immunotherapy known as CAR-T cell therapy (Chimeric Antigen Receptor T-cell therapy) utilizes genetically modified T cells to combat cancer.
*Key Takeaways: *
· The rising number of patients suffering from cancer and the demand for its effective treatment is driving the market revenue share.
· The introduction of advanced therapy derived from CRISPR is driving the market demand.
· The rising demand for precision medicines is increasing the market revenue growth rapidly.
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* CAR-T Cell Therapy Market Scope*
*Report Attribute* *Details*
Market Size Value in 2022 US$ 2.46 billion
Revenue Forecast in 2031 US$ 25.40 billion
CAGR 29.60%
Base Year for Estimation 2022
Forecast Period 2023 to 2031
Historical Year 2021
Segments Covered Drug type, Indication, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
*Recent Development in the CAR-T Cell Therapy Market: *
· In June 2022, Bristol Myers Squibb got FDA endorsement for Breyanzi (lisocabtagene maraleucel), a CD19-coordinated fanciful antigen receptor (Vehicle) Immune system microorganism treatment, for the treatment of grown-up patients with huge B-cell lymphoma (LBCL).
· In April 2022, Yescarta (axicabtagene ciloleucel) CAR T-cell therapy for patients with large B-cell lymphoma who are refractory to first-line chemotherapy or who relapse within a year of receiving first-line chemotherapy was approved by Kite, a Gilead Company.
*Competitive Landscape*
A list of the prominent players operating in the global market for CAR-T cell therapy includes:
· Johnson & Johnson
· Eli Lilly and Company
· Novartis AG
· Bristol-Myers Squibb Company
· Amgen Inc.
*Market Drivers and Restraints: *
The global CAR-T cell therapy market revenue is driven by the rising increasing prevalence of cancer and the growing demand for personalized and targeted cancer therapies. Additionally, the development of new and innovative CAR-T cell therapies by pharmaceutical companies is expected to fuel market growth.
However, due to the high cost of drugs and their adverse effects, the CAR-T cell therapy market revenue growth is likely to be restrained.
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*Market Segmentation: *
· Based on drug type, the global CAR-T cell therapy market is segmented into Kymriah, Yescarta, Abecma, Breyanzi, Tecartus, Carvykti, and others.
· Based on indication, the global CAR-T cell therapy market is segmented into diffuse large B-cell lymphoma, acute lymphoblastic leukemia, multiple myeloma, chronic lymphocytic leukemia, follicular lymphoma, mantle cell lymphoma, and others.
Segmentation By Indication
Based on the indication, the diffuse large B-cell lymphoma (DLBCL) segment dominates the global CAR-T cell therapy market with the largest revenue share. This share of revenue is attributed to the rapid growth rate of diffuse large B-cell lymphoma (DLBCL) and high unmet need because of no treatment options available. Additionally, the rising pervasiveness of diffuse huge B-cell lymphoma and the developing interest in customized disease medicines are supposed to drive the development of the diffuse enormous B-cell lymphoma portion in the Vehicle Lymphocyte treatment market before long.
Regional Growth Dynamics
Based on the region, Asia Pacific is the region with the fastest rate of revenue growth in the market and is expected to contribute significantly to revenue during the forecast period. The prevalence of cancer is rising alarmingly in the Asia Pacific area, where there is a high burden of the disease. Due to this, there is a rising need of an efficient cancer therapy like CAR-T cell therapy.
*Report Coverage *
Growth Plus Reports conducted extensive research on the world market for CAR-T cell therapy. We looked at the basic market traits, important investment spheres, regional growth analytics, ten years of revenue projections, competitive players, and mergers and acquisitions.
*Table of Content*
1. *INTRODUCTION*
1. Market Ecosystem
2. Timeline Under Consideration
1. Historical Years – 2021
2. Base Year – 2022
3. Forecast Years – 2023 to 2031
3. Currency Used in the Report
2. *RESEARCH METHODOLOGY *
1. Research Approach
2. Data Collection Methodology
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Approach
1. Bottom Up
2. Top Down
5. Market Forecasting Model
6. Limitations and Assumptions
3. *PREMIUM INSIGHTS*
1. Current Market Trends (COVID-19 Perspective)
2. Key Players & Competitive Positioning (2022)
3. Regulatory Landscape
4. *MARKET DYNAMICS*
1. Drivers
2. Restraints/Challenges
3. Opportunities
5. *GLOBAL CAR-T CELL THERAPY MARKET - ANALYSIS & FORECAST, BY DRUG TYPE*
1. Kymriah
2. Yescarta
3. Abecma
4. Breyanzi
5. Tecartus
6. Carvykti
7. Others
6. *GLOBAL CAR-T CELL THERAPY MARKET - ANALYSIS & FORECAST, BY INDICATION*
1. Diffuse Large B-Cell Lymphoma
2. Acute Lymphoblastic Leukemia
3. Multiple Myeloma
4. Chronic Lymphocytic Leukemia
5. Follicular Lymphoma
6. Mantle Cell Lymphoma
7. Others
*CAR-T CELL THERAPY MARKET TOC*
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