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CAR T Cell Therapy is Estimated to Witness High Growth Owing to Opportunity of Higher Efficacy in Cancer Treatment

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Mia Yates
CAR T Cell Therapy is Estimated to Witness High Growth Owing to Opportunity of Higher Efficacy in Cancer Treatment

CAR T cell therapy is a type of immunotherapy treatment that utilizes genetically modified T cells to fight against cancer cells and is emerging as the most innovative approach in cancer immunotherapy. CAR T cells are made by collecting T cells from the patient and modifying them using gene therapy technique to include a Chimeric Antigen Receptor (CAR) which allows the T cells to recognize a specific protein or antigen on the surface of a patient’s cancer cells. Once re-infused into the patient, CAR T cells can multiply in the body and initiate an immune response against cancer cells, either by directly killing the cells or by making the cells more susceptible to other immune system attacks.

The global CAR T Cell Therapy Market is estimated to be valued at US$ 2.26 Bn in 2023 and is expected to exhibit a CAGR of 20.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The key market opportunity lies in the higher efficacy shown by CAR T cell therapy in cancer treatment compared to other therapies. CAR T cell therapy has shown promising results in treating blood cancers like leukemia and lymphoma with durable remission rates. It has the potential to revolutionize cancer treatment by turning a patient’s own T cells into a ‘living drug’ that can seek and destroy cancer cells. As per studies, CAR T cell therapy can achieve complete remission in over 50% of relapsed/refractory non-Hodgkin's lymphoma and acute lymphoblastic leukemia patients. Ongoing research is also evaluating its potential to treat solid tumors. Its capability to achieve deep and durable responses even in heavily pretreated advanced cancer patients qualifies it as a breakthrough therapy. Wider application of this targeted cellular therapy can significantly improve cancer cure rates especially for difficult-to-treat advanced cancers.

Porter's Analysis

Threat of new entrants: The CAR T cell therapy market requires high capital investment in R&D for developing new cell therapies which makes it difficult for new players to enter the market. However, partnerships between smaller biotech companies and large pharmaceutical companies can lower the entry barriers.

Bargaining power of buyers: The bargaining power of buyers is low as CAR T cell therapy is a highly specialized treatment available through few providers. Also, patients have limited options due to rare nature of target diseases.

Bargaining power of suppliers: A few contract manufacturing organizations supply clinical grade cell therapies, giving them stronger bargaining power over pharmaceutical companies to negotiate on pricing and yields.

Threat of new substitutes: New drug delivery methods and gene editing tools can emerge as substitutes but CAR T cell therapy currently has no close substitute for treating hematological cancers.

Competitive rivalry: High as major players invest heavily in R&D and acquire smaller biotechs to develop next-gen CAR T therapies and pipeline drugs to target new cancer indications.

SWOT Analysis

Strength: High efficacy rates in treating refractory cancers. Growing clinical evidence increases adoption rates.

Weakness: High costs of development and production. Complex manufacturing process increases therapy costs. Risk of cytokine release syndrome and neurotoxicity.

Opportunity: Large patient pool of hematological cancer offers commercial potential. Exploring solid tumor applications widens market scope.

Threats: Biosimilar competition once patents expire. Reimbursement hurdles restrict patient access in some regions.

Key Takeaways

The Global CAR T Cell Therapy Market Size is expected to witness high growth over the forecast period of 2023 to 2030. North America is currently the dominant as well as the fastest growing regional market owing to presence of major players and approvals of innovative therapies.

Regional analysis:

North America leads the global CAR T cell therapy market driven by FDA approvals to Kymriah and Yescarta for treatment of leukemia and lymphoma. Europe is witnessing increasing clinical research to expand approved indications in the region. Asia Pacific offers lucrative opportunities for market players due to growing healthcare infrastructure and demand for advanced cancer therapies in China, Japan and India.

Key players:

Key players operating in the CAR T cell therapy market are Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Novartis AG, CARsgenTherapeutics Co., Ltd, Aurora Biopharma, Legend Biotech, Gilead Sciences, Inc., Pfizer Inc., bluebird bio, Inc., Sorrento Therapeutics, Inc., and Mustang Bio, Fate Therapeutics. Major players are focusing on developing next-gen CAR T therapies targeting new cancer types through acquisitions and clinical trials.

For More Insights, Read: https://www.newswirestats.com/car-t-cell-therapy-market-demand-growth-and-regional-outlook-by-2030/


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