Revolutionary Cure for Cancer to drive CAR T-cell Therapy Market to cross USD 1.6 Bn by 2024
CAR T-cell therapy, over few years, has received huge acclamation in the field of healthcare. CAR (Chimeric Antigen Receptor) is an engineered receptor which grafts an arbitrary specificity onto a T cell. A T cell, or T lymphocyte, is a type of lymphocyte (a subtype of white blood cell) that performs a vital role in cell-mediated immunity. The global CAR T cell therapy market is foreseen to grow at a CAGR of 41.7% between 2018 and 2024 as per the report available with DecisionDatabases.com. The market was evaluated to be USD 102.07 Mn in 2017 and will cross USD 1.6 Bn by 2024.
CAR T-cell therapy is a type of treatment which helps in curing cancer. It can be described as a kind of immunotherapy called “adoptive cell immunotherapy.” In this process, patients’ T cells are extracted from their blood and taken to the laboratory where the gene for a CAR is added to the cells. These CAR T cells are multiplied to get a large number of these cells. Then they are injected into the patient. They are infused only once in patient’s body as they further multiply in the body. CAR T cells therapy is equivalent to “imparting a living drug to patients.” Although the therapy is at its initial stage in the market but is expected to establish its significance and efficiency in the near future.
The revolutionary innovation of CAR T cell therapy in the health sector has changed the future perspective of the cancer treatment. The market for CAR T cell therapy is expected to expand on the ground of mounting demand for highly effective therapy mode of cancer elimination. Despite the presence of favorable conditions, marketers need to deal with manufacturing and scalability options. This would lead to higher profits. Novartis and Kite are already on the track. Increasing rate of incidence and prevalence of the various type of cancer is a major driver of the global CAR T cell therapy.
The global CAR T cell market analysis has been done on the basis of targeted antigens, application and geography. Taking targeted antigens into account, the market is classified as CD 19, CD 20, GD 2, CD 22, CD 30, CD 33, HER 1, HER 2, Meso, EGFRvlll, and others. Centering application, the market is of Acute Lymphocytic Leukemia, Chronic Lymphocytic Leukemia, Non-Hodgkin Leukemia, Multiple Myeloma, Pancreatic Cancer, Neuroblastoma, Breast Cancer, Acute Myeloid Leukemia, and Hepatocellular Carcinoma.
Children are more vulnerable to acute lymphoblastic leukemia (ALL). Adults comprise more than 40% cases of ALL. CD 19 marker has potential to significantly combat prevalent cases of ALL. Therefore, CD 19 segment is projected to touch a billion dollar mark by few years. Other antigens like CD 20 and CD 22 are also anticipated to earn substantial revenue by treating other tumors.
Regionally, North America is the dominant market and is expected to follow the trend in future. In the U.S. many blood cancer cases are diagnosed every year and many people died due to leukemia, lymphoma, and myeloma. This major problem has paved the way for CAR T cell therapy market to lift in approaching time. Kite Pharma Inc. along with Novartis International AG is looking ahead to capitalize the market in this region. Juno Therapeutics has invested millions to set up a manufacturing site in the U.S. for CAR T cell therapy products.
In terms of revenue, Europe is prognosticated to be the immediate follower of North America in the approaching time. Moreover, after few years of Europe’s success, Asia Pacific is foreseen to acquire Europe’s dominance. It would surface tough competition to Europe. Japan and China would be the prominent countries contributing the Asia Pacific’s jetting growth rate.
Though the process is undoubtedly powerful, yet it includes serious risks which are needed to be taken into account before instituting the therapy. Specifically, cytokine release syndrome (CRS) and neurologic problems are most probable side effects. Severe CRS can lead to death if intensive medical care is not provided. Neurological problems have two-way results; either the patient recovers in few days or dies.
The process requires high investments and thereby is very costly. This might be inconvenient for the patients to opt for the therapy and hence restraining the rise in the growth of the market. On the positive side, Juno Therapeutics and Kite Pharma along with Novartis have future-proof plans to commercialize products based on CD 30 and CD 22 responsible for solid cancers. In near future, FDA’s approval will accelerate the market growth.
Brilliant and pioneering players of the global CAR T cell therapy market Bellicum Pharmaceuticals, Inc., Celgene Corporation, Cellectis, Juno Therapeutics, Kite Pharma Inc., and Novartis International AG.
DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics. DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.
Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors. We provide intellectual, precise and meaningful data at a lightning speed.
For more details:
E-Mail: [email protected]
Phone: +91 99 28 237112