Global CAR T-Cell Therapy Market Latest Update’s Report 2022
Posted by sandeep gade on November 29th, 2022
According to a recent study by Persistence Market Research, the global CAR T-cell therapy market is anticipated to experience high growth over the coming years. The market is expected to grow from US$ 1.2 Bn in 2020 to over US$ 2.8 Bn by 2031, which reflects a CAGR of around 5.6% for the next ten years.
Key players in the CAR T-cell therapy space are focusing on acquisitions and collaborations with other players of the market to strengthen their position by offering a wide range of products.
For instance, in December 2017, Gilead Science acquired Cell Design Labs Inc., which is a privately held company of biotherapeutics that discovers and develops cell-based therapies. This acquisition benefits Gilead through gaining novel technology platforms that will its boost R&D efforts in cellular therapy.
Also, increasing number of clinical trials in the field of life sciences and CAR T-cells will benefit manufacturers and researchers in developing innovative cancer therapy. With a large extent of studies taking place around CAR T-cell therapy, it is anticipated to enhance product availability in the market over the coming years.
For instance, the experiment on AntiCD19 Chimeric Antigen Receptor T Cells for the treatment of relapsed or refractory Non-Hodgkin lymphoma by Benjamin Tomlinson is undergoing and is currently in phase I clinical trial.
Another study by Janssen Research & Development, LLC of a chimeric antigen receptor T Cell (CAR-T) therapy for myeloma is in phase 2 clinical trial.
Furthermore, a study on the safety and efficacy of ALLO-605 in patients with relapsed/refractory multiple myeloma by Allogene Therapeutics is currently in phase 2.
All these factors will drive demand for CAR T-cell therapy during the forecast period (2021 to 2031).
Key Takeaways from Market Study
“Increasing prevalence of cancer and continuous R&D on cell-based therapies are expected to drive demand for CAR T-cell therapy over the decade,” says a Persistence Market Research analyst.
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Joined: August 22nd, 2022
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