According to the new market research report “T-Cell Immunotherapy Market (Mechanism of Action – Active Immunotherapy and Passive Immunotherapy; Type of Therapy – CAR-T, TCR, TIL; Product Class – Monoclonal Antibodies, Oncolytic Virus Therapy, Bispecific Antibodies and Cytokines): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024.”In 2018, the global T-Cell immunotherapy market was valued at USD 34 billion. Its revenue is anticipated to progress at an extremely solid CAGR of 16.24% and is projected to reach over USD 100 Billion by 2024.
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At present, cancer is one of the leading causes of death worldwide. According to the WHO, cancer is likely to account for 9.6 million death in 2018. The growing prevalence of cancer is the key driver that drives the growth if the global cancer market. In recent years, immunotherapies are rapidly emerging in the treatment of cancer.
T-cells are the lymphocytes that play an important part in hostile infection and diseases including cancer. They help to sharpen and strengthen the immune system to fight against cancer. In the treatment of pediatric relapsed acute lymphoblastic leukemia (ALL) and refractory non-Hodgkin lymphoma, T-cell therapy is FDA-approved as the standard of care. Furthermore, growing demand for better cancer treatment in cancer in children is escalating the growth of T-cell immunotherapy market. Additionally, the rising preference for the gene therapies in the cancer treatment is anticipated to escalate the growth of the market in upcoming years.
The Report on Global T-Cell Immunotherapy Market is Segmented into the Mechanism of Action, Type of Therapy and Product Class
In terms of the type of therapy the market is bifurcated as CAR-T, TCR, TIL. Among these types, CAR-T is expected to dominate the market over the forecast period. CAR T-cell therapy approvals are significantly favoring the booming immunotherapy market. In this treatment, the patient’s T cells are collected and modify them to treat their cancer. Growing technological advancements in the field of immunotherapy are contributing to the growth of T cell immunotherapy market. Moreover, based on the mechanism of action the market is categorized into active immunotherapy and passive immunotherapy.
On the basis of Product Class, the global market of monoclonal antibodies, oncolytic virus therapy, bispecific antibodies, and cytokines. The growing acceptance of T cell therapies in the treatment of blood cancer are exacted escalate the growth T cell immunotherapy market.
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North America Holds More than 50% Market Share in the Global T-cell Immunotherapy Market
Geographically, North America is the largest market in the T-cell flowed by Europe. North America holds more than 50% market share in the global T-cell immunotherapy market and is anticipated to remain dominant over the forecast period. The high prevalence of cancer in the US and other countries are driving the growth of North America T cell immunotherapy market. In addition, the developed healthcare infrastructure and ongoing research in cancer treatment are contributing to the growth of this market in the North America region.
Key Players Mentioned in this Report
The key players in the T cell market include Adaptimmune Therapeutics, bluebird bio, Innovative Cellular Therapeutics, Novartis, Sinobioway Cell Therapy, Cellectis, CARsgen Therapeutics, Autolu, and Celgene. The partnerships and the collaboration are the key expansion strategies adopted by the key players. For instance, Phio and Glycostem has collaborated on use of its sd-rxRNA® platform and Glycostem’s oNKord® Cell Therapy Products for the Next Generation of Natural Killer Cell-based Immunotherapy for Cancer Treatment.
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