The global CAR-T Cell Therapy market size is expected to reach USD 15.4 billion by 2028 growing at a CAGR of 34.2% from 2021 to 2028
This market report focuses on CAR-T which is one of the most innovative therapy available in the market which uses the patients' immune cells to fight cancer. The WBCs (white blood cells) are extracted - reengineered - injected again into the patient body to fight the malignant cells. This novel therapy has joined the bandwagon of the cancer cure treatments and it is expected to be one the sought-after therapies in the market. Majority of the companies have already started investing in them to gain a better market share in this industry.
According to the analysis, the potential of the market is ~ $15 billion by 2028, with major focus on Diffuse Large B-Cell Lymphoma (DLBCL) indication in 2020-21. However, it is expected that the market would also start focusing on Multiple Myeloma (MM) indication and the market for the same is expected to grow at a compounded annual growth rate of more than 46% from 2021 to 2028.
It is estimated that US is one of the major markets for CAR-T Cell Therapy due to continuous R&D happening in this region also backed by ongoing regulatory approvals of the new therapies. Along with the new therapy developments, companies are also focusing on establishing centers for cancer awareness and how this novel therapy would help in cancer treatment. This would help the market to grow in this region.
The European region is also expected to closely follow by US wherein European Medicine Agencies (EMA) have approved Kymriah and Yescarta which is expected to push the market for further growth in this region. However, the market for Asia Pacific is at its early stages wherein Ministry of Health, Labor and Welfare (MHLW) of Japan is the first regulatory authority to approve Kymriah in APAC.
It can be seen that the business scenario of the market is dynamic and major companies are competing with each other to increase their market share in the major geographies of US and Europe. For example, Novartis and Gilead came-up with 33 and 28 authorized centers respectively in US Some of the major companies in this space such as Celgene are expected to file for FDA approvals for two more CAR-Ts lisocabtagene maraleucel in lymphoma and bb2121 (idecabtagene vicleucel) in myeloma.
Along with opening new centers and acquiring necessary government approvals, the companies are also focusing on partnerships, acquisitions and mergers. For instance, Celgene acquired Juno Therapeutics in November 2018 for approximately $9 billion in 2018 and further Bristol-Myers Squibb completed its acquisition of Celgene in November 2019.
Some major key players in global CAR-T Cell Therapy Market include