Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· October 2021- A bioresearch team at the Korea Advanced Institute of Science and Technology (KAIST) developed a next generation chimeric antigen receptor (CAR) T-cell therapy which can overcome immune checkpoint signals.
· October 2021- Kite, a Gilead company announced that the U.S. Food and Drug Administration approved Tecartus as the first and only CAR T-cell therapy for adults with refractory or relapsed B-cell acute lymphoblastic leukemia.
The global CAR T-cell therapy market is estimated to garner a large amount of revenue and grow at a CAGR of 38.7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing occurrence of cancer across the world, and rapid technological advancements to develop improved treatment for cancer. According to the World Health Organization’s Global Cancer Observatory (GLOBOCAN), breast and lung cancers were the two most common cancers in 2020, with 2.26 million and 2.21 million cases of breast and lung cancer respectively. Along with these, growing number of cell therapy-based clinical studies is also expected to drive market growth in the forthcoming years. Furthermore, robust growth of the pharmaceutical sector in developed and developing nations, and rising interest of immunotherapy industry in checkpoint inhibitors and CAR T-cells are projected to offer lucrative opportunities to the market in the near future.
The market is segmented by therapeutic application into acute lymphoblastic leukemia, diffuse large B-cell lymphoma, follicular lymphoma, chronic lymphocytic leukemia, multiple myeloma, and others. Out of these, the diffuse large B-cell lymphoma segment is anticipated to hold the largest share in the global CAR T-cell therapy market over the forecast period. This can be accounted to the high prevalence of diffuse large B-cell lymphoma (DLBCL) around the world, especially in the United States. As per the American Cancer Society, in 2021, lymphoma accounted for 48 percent of all the new cases of cancer in the United States alone, with a total of 90,390 cases. Additionally, on the basis of targeted antigen, the CD19 segment is predicted to acquire the largest share during the forecast period owing to the high effectiveness of this targeted antigen in cancer therapy as it is only expressed in B lineage cells. Also, CD19 is expressed on a wide range of B-cell malignancies including B-cell lymphomas and leukemias, which is also assessed to boost the growth of the market segment in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global CAR T-cell therapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the high number of cancer patients in China and India, and growing geographical expansion by local market players in the region. In a report by Cancer Today by WHO, 85,404 new cases of leukemia emerged in Greater China in 2020, with a 5-year prevalence of the disease in the region being as high as 2,141,752. Moreover, the market in North America is projected to occupy the largest share during the forecast period, which can be credited to the high healthcare expenditure, and well-established healthcare infrastructure in the region. In addition, strong presence of prominent market players is also expected to accelerate the growth of the market in the region in the future.
The global CAR T-cell therapy market is further classified on the basis of region as follows:
Our in-depth analysis of the global CAR T-cell therapy market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing occurrence of cancer worldwide, and rapid technological advancements to develop improved treatment for cancer.
The market is anticipated to attain a CAGR of 38.7% over the forecast period, i.e., 2022 – 2030.
High cost of CAR T-cell therapy, and adverse side-effects associated with the treatment are estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the high number of cancer patients in China and India.
The major players in the market are bluebird bio, Inc., Noile-Immune Biotech, Celgene Corporation, Bellicum Pharmaceuticals, Inc., Novartis International AG, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by targeted antigen, therapeutic application, and by region.
The CD19 segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2021 Research Nester. All Rights Reserved
