CAR T Cell Therapy Market Drivers and Restraints
Market Research Future (MRFR) analysed the global CAR T-Cell Therapy Market 2020a across the review period till 2023. As per MRFR assessment, the Global CAR T-Cell Therapy Market can thrive at 58.52% CAGR across the analysis period. By 2025, the global CAR T-Cell Therapy market value can rise at USD 8716.06 Million by 2025. The growing preference for Chimeric Antigen Receptor (CAR) T Cell Therapy as cancer treatment among the rising number of patients can support the expansion of the market. The immunotherapy therapy uses T cells to treat patient that offers high recovery rate and greater safety. Thus the increase in the adoption of CAR T-Cell therapy can promote the market in the near future. The rise in prevalence of cancer, rapid technological advancements, the rise in awareness about the greater reliance of the treatment, and expansion of the global pharmaceutical industry can cause the CAR T-cell therapy market gain momentum. Increase in clinical studies can also work in favor of the worldwide CAR T cell therapy market. On the contrary, expensiveness and rise in awareness about side-effects of CAR T-cell therapy can hinder the market rise.
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CAR T Cell Therapy Market Segmentation
The segment assessment of the global CAR T cell therapy market is done by target antigen and application. The type-based segments of the CAR T cell therapy market are CD22, and CD19 among others. The CD19 target antigen segment can earn revenue of above USD 342.56 Mn by 2025. The application-based segments of the global CAR T cell therapy market are diffuse large B-cell lymphoma, and acute lymphoblastic leukemia among others.
The growing geriatric population with weak immune system are highly prone to several malaises. Thus, the increase in need for CAR-T cell therapy among geriatric cancer patients can favor the market expansion across the review period. In addition, the growing cases of acquisitions among key players can support the market in the near future, long-term benefits are likely to be earned. The rise in importance of cellular therapies can support the growth of the market through the analysis period.
CAR T Cell Therapy Market Regional Analysis
The regional analysis of the global CAR T cell therapy market is analysed across Europe, APAC, MEA, North America, and the Rest of the World (RoW).
In North America, the US can secure the highest share of the regional CAR T cell therapy market through the analysis period. The rise in cases of cancer throughout the country. In Europe, CAR T-cell therapy market can thrive in the analysis period. The rise in occurrences of hematologic cancer, such as; lymphoma, leukemia, and multiple myeloma in the region is creating the need for immunotherapy that can favor the market in the assessment period. In Europe, the CAR T cell therapy market can acquire about 9.15% share of the world CAR T cell therapy market. The UK, following France can win high profits for the market. In APAC, China and India can thrive at a significant growth pace across APAC market in the study period. The rapid rise of the healthcare infrastructure and escalation of the disposable income can favor the regional market through the analysis period. The CAR T Cell therapy in the Middle East and Africa region can exhibit steady rise as healthcare access is limited and their affordability among the population is less.
CAR T Cell Therapy Market Key Players
Novartis AG (Switzerland), Sorrento Therapeutics (US), Kite Pharma (US), Juno Therapeutics (US), CARsgen Therapeutics (China), Pfizer, Inc. (US), Cellectis (France), Legend Biotech (US), Autolus Therapeutics PLC (UK), and Mustang Bio (US) among others are some reputed companies in the CAR T cell therapy market that are recognized by MRFR.
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