CAR T Cell Therapy Market Research focuses on the key trends prevailing in the Global CAR T Cell Therapy Industry sector. The existing Industry scenario has been studied and future projections with respect to the sector have also been investigated.ย Market study report comprises evaluation of numerous influential factors including industry overview in terms of historic and present situation, key manufacturers, product/service application and types, key regions and marketplaces, forecast estimation for global market share, revenue and CAGR.
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Overview:
CAR T-cell therapy is a type of treatment in which a patient’s T cells (a type of immune cell) are changed in the laboratory so they will bind to cancer cells and kill them.
Drivers:
Increasing demand for CAR T-cell products due to the increasing prevalence of cancer around the world is expected to propel growth of the global CAR T-cell therapy market. For instance, according to World Health Organization (WHO), cancer-causing infections, such as HPV and hepatitis, are responsible for around 30% of cancer cases, especially in low- and lower-middle-income countries. Moreover, worldwide, more than 19.3 million new cancer cases and almost 10.0 million cancer deaths occurred in 2020.
Market players are adopting various strategies, such as merger and acquisition, to strengthen their product portfolio or to strengthen their market position. This in turn is expected to drive growth of the global CAR T-cell therapy market over the forecast period. For instance, in July 2021, BioNTech SE and Kite, a Gilead Company, announced that two companies have entered into a purchase agreement for BioNTech to acquire Kiteโs Neoantigen T Cell Receptor (TCR) R&D platform and clinical manufacturing facility in Gaithersburg, MD.
Moreover, market players are increasingly investing in research and development, which in turn is also expected to boost the growth of the global CAR T-cell therapy market. For instance, Gilead Sciencesโ Yescarta is in clinical trial phase II for oncology application.
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COVID-19 Impact:
The outbreak of COVID-19 has severely affected many industries, such as pharmaceutical and life sciences industries. The pandemic has also affected the delivery of cellular therapeutics, including CAR T-cells. Moreover, the outbreak of COVID-19 has also affected administration, logistics, and distribution of increasingly limited healthcare resources. The pandemic is also creating challenges for the delivery of therapies to patients with hematologic malignancies.
Key Players:
Key players active in the global CAR T-cell therapy market are Amgen Inc., Fate Therapeutics, Juno Therapeutics, Eli Lilly and Company, Sorrento Therapeutics, Inc. Kite Pharma, Inc., Novartis AG, McKinsey & Company, Gilead Sciences, and Bristol-Myers Squibb Company.
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