Visiongain Publishes CAR-T Therapy Market Report 2022-2032
02 November 2022
Visiongain has published a new report entitled CAR-T Therapy Market Report 2022-2032: Forecasts by Indication (Diffuse Large B-Cell Lymphoma (DLBCL), Acute Lymphoblastic Leukaemia (ALL), Follicular Lymphoma, Multiple Myeloma (MM), Other), by Type (Abecma, Yescarta, Kymriah, Tecartus, Others), by Target Antigens (CD19/CD22, BCMA, Others), by Patient (Children, Adults, Seniors), by End-user (Hospitals, Specialty Clinics, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The CAR-T Therapy market was valued at US$1.9 billion in 2021 and is projected to grow at a CAGR of 42.95% during the forecast period 2022-2032.
Some of the major forces propelling the CAR-T therapy market include increase in funding from venture capitalist and government institutes and increase in global burden of cancer benefits. As per the data published by the WHO, cancer is a leading cause of death globally and caused almost 10 million deaths in 2020.
Based on current and projected population aging and growth, the American Cancer Society, Inc., predicts that the burden of cancer will increase to an estimated 29.4 million cases globally by 2040. China, with the largest population size worldwide has the highest global proportion of cancer new cases and deaths followed by Northern America in terms of new cases and fourth by cancer deaths. Increase in consumption of tobacco & alcohol, unhealthy diet, physical inactivity, and air pollution in various countries across the globe might further increase the cancer burden in future and thus fuel market growth over the forecast period.
How has COVID-19 had Dramatically Disrupted the CAR-T Therapy Market?
The delivery of cellular therapies, such as CAR-T cells, has been dramatically disrupted by the COVID-19 pandemic. The three sections of the CAR-T cell industry that have been most impacted by the COVID-19 issue are the production & delivery of medicines, research & clinical development, and commercial operations. Supply chains supporting the production and delivery of cell- and gene-therapy (CGTs) industries are extensive, intricate, and tightly regulated. Given that the cell or the CAR-T cell gathered are both time and temperature sensitive, closing of the borders, decreased air traffic, and delayed flights had put its viability in jeopardy during the pandemic. During the pandemic, one in five cell therapy companies reported disruptions in the supply chain, while one-third reported manufacturing delays or a complete halt to operations.
How will this Report Benefit you?
Visiongain’s 251-page report provides 99 tables and 163 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the CAR-T Therapy market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for CAR-T Therapy. Get financial analysis of the overall market and different segments including indication, type, target antigen, patient, end user, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing CAR-T Therapy market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increase in Funding From Venture Capitalist And Government Institutes
In the past five years around US$12 billion have been invested by venture capital (VC) firms around the globe, an additional of US$2.2 billion of funding is raised through strategic partnerships between various institutes and biopharma companies. There has also been an increase in fundings from government and other institutes to promote CAR-T cell therapies for cancer treatment. In December 2021, the National Institutes of Health (NIH) granted US$14 million to Penn Medicine as a seven-year grant for harnessing synthetic chimeric antigen receptor (CAR) T cells which will be used to deplete immune B cells and plasma cells for achieving a compatible kidney transplant for patients.
Increase In Global Burden of Cancer
As per the data published by the WHO, cancer is a leading cause of death globally and caused almost 10 million deaths in 2020. Based on current and projected population aging and growth, the American Cancer Society, Inc., predicts that the burden of cancer will increase to an estimated 29.4 million cases globally by 2040. China, with the largest population size worldwide has the highest global proportion of cancer new cases and deaths followed by Northern America in terms of new cases and fourth by cancer deaths. Increase in consumption of tobacco & alcohol, unhealthy diet, physical inactivity, and air pollution in various countries across the globe might further increase the cancer burden in future.
Where are the Market Opportunities?
Growing use of AI in CAR-T Cell Manufacturing
In the past few years, biotechnology has advanced immensely. The use of computers has increased leading to rising demand for faster and smaller sized machines. The heterogeneity of these devices is increasing in datasets along with their volume growing robustly. Such developments are propelling the engine of artificial intelligence in medical science, which in turn is providing huge opportunity in CAR-T cell. The increased use of AI platforms are transforming the medical industry by assisting healthcare professional’s record clinical data and analyse it on a regular basis, with greater ease and fewer errors. Many of the big pharmaceutical companies are collaborating with IT solution companies with the aim to develop IT solutions and AI platforms for analyzing the large datasets generated in laboratory experiments, clinical trials and manufacturing plants.
The major players operating in the CAR-T Therapy market are AbbVie Inc., Amgen Inc., BioNTech SE, bluebird bio, Inc., Bristol-Myers Squibb Company, Caribou Biosciences Inc., Gilead Sciences Inc., GSK plc, Johnson & Johnson Private Limited, Novartis AG. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• In September 2022, Arsenal Biosciences received US$220 million funding from Bristol Myers Squibb and the Softbank Vision Fund 2 that would help the company expand its research activities in advanced CAR T therapies for solid tumors.
• In May 2022, Johnson and Johnson in partnership with Legend Biotech received EU approval for its CAR-T Carvykti to treat adults with relapsed and refractory multiple myeloma.
• In April 2022, Kite received US FDA approval for Yescarta for the treatment of adult patients with large B-cell lymphoma.
Notes for Editors
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