The global chimeric antigen receptor (CAR) T-cell therapy market , valued at USD 2.54 billion in 2022, is expected to experience robust growth, reaching USD 3.5 billion by the end of 2023 and eventually accumulating USD 6.82 billion by 2033. This growth reflects a compound annual growth rate (CAGR) of 6.9% over the forecast period from 2023 to 2033. The market saw a CAGR of 7% during the historical period from 2018 to 2022.
The expansion of the CAR T-cell therapy market is driven by technological advancements and the rising demand for personalized medicine. CAR T-cell therapy, a groundbreaking treatment for various cancers, has shown significant promise in clinical outcomes, fueling its adoption and market growth.
The prospect of long-term remissions is another advantage of CAR T-Cell Therapy. In certain cases, CAR T-Cell Therapy has resulted in total remission, which implies that there is no evidence of cancer in the body. This is especially hopeful for people who have relapsed or refractory cancer and have exhausted all other treatment options.
As additional clinical trials are completed and drugs are licenced, the market for CAR T-Cell Therapy is expected to grow in the future years. In addition to the two currently approved drugs, several more CAR T-Cell Therapy treatments for different cancers are in late-stage clinical trials. Advances in gene editing technology are also expected to enhance the industry, enabling for the development of more effective CAR T-cell therapies with fewer side effects.
Key Takeaways from the Market Study
- The Chimeric antigen receptor (CAR) T-Cell Therapy market is estimated to expand at a 6.9% CAGR from 2023 to 2033.
- Yescarta is predicted to have 45% of the market share for Chimeric antigen receptor (CAR) T-Cell Therapy in 2023.
- In 2023, North America is estimated to hold 45% of the market for Chimeric antigen receptor (CAR) T-Cell Therapy.
- In 2023, Europe’s Chimeric Antigen Receptor (CAR) T-Cell Therapy market is estimated to account for 39% of the total.
“The increasing incidence of cancer, rising demand for personalized medicine, and advancements in CAR T-Cell Therapy are some of the major factors driving the growth of the market,” states an FMI analyst.
Competitive Landscape
Key players in the Chimeric antigen receptor (CAR) T-Cell Therapy market are Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, Fresenius SE & Co. KGaA, Johnson & Johnson, Medtronic PLC, Novartis AG, Endo International PLC and Pfizer Inc.
- BD has contributed to CAR T-Cell Therapy is through its flow cytometry technology, which is used to monitor the manufacturing and quality control of CAR T-cell therapies. Flow cytometry is a technique that allows researchers and clinicians to analyze and sort individual cells based on their physical and chemical characteristics. BD offers a range of flow cytometry instruments and reagents that are used to monitor the T-cells used in CAR T-Cell Therapy, as well as the cancer cells targeted by these therapies.
- Boston Scientific has contributed to CAR T-Cell Therapy through its interventional oncology products. These products are designed to treat cancer through minimally invasive procedures, such as tumor ablation or embolization. While these procedures are not directly related to CAR T-Cell Therapy, they can be used to manage complications that may arise during or after CAR T-cell treatment, such as bleeding or swelling in the liver.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global chimeric antigen receptor (CAR) T-Cell Therapy market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
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Key Segments Profiled in the Chimeric Antigen Receptor (CAR) T-Cell Therapy Market Survey
By Type:
- Abecma
- Breyanzi
- Kymriah
- Tecartus
- Yescarta
- Others
By Application:
- Leukemia
- Lymphoma
- Multiple Myeloma
- Autoimmune Disorders
- Other Application
By End User:
- Hospitals
- Cancer Care Treatment Centers
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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