The Chimeric Antigen Receptor T (CAR-T) Cells Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chimeric Antigen Receptor T (CAR-T) Cells Global Market Report 2024, The chimeric antigen receptor t (car-t) cells market size has grown exponentially in recent years. It will grow from $2.76 billion in 2023 to $3.89 billion in 2024 at a compound annual growth rate (CAGR) of 40.9%. . The growth in the historic period can be attributed to breakthrough fda approvals, successful clinical trials and patient outcomes, advances in gene editing techniques, growing investment from pharmaceutical companies, rising incidence of cancer .
The chimeric antigen receptor t (car-t) cells market size is expected to see exponential growth in the next few years. It will grow to $14.35 billion in 2028 at a compound annual growth rate (CAGR) of 38.5%. . The growth in the forecast period can be attributed to regulatory streamlining, the exploration of car-t therapy, market expansion in emerging economies, personalized medicine adoption, awareness and education. Major trends in the forecast period include off-the-shelf car-t therapies, combination therapies, technological advancements, long-term safety and efficacy, advancements in manufacturing.
The increasing occurrence of cancer is driving the chimeric antigen receptor T (CAR-T) cells market. Cancer is a chronic disease in which normal body cells divide and grow without any control and affect the nearest body tissue and turn into tumors cells. The chimeric antigen receptor T (CAR-T) cells are used to treat various types of cancers such as hematological malignancies, including acute lymphoblastic leukemia, chronic lymphocytic and can also treat solid tumors such as breast cancer and sarcoma. For instance, in 2021, according to the American Cancer Society, a voluntary health organization, global cancer patients diagnosed is expected to reach 1.9 million in 2021. Due to population increase and age, the worldwide burden of cancer is predicted to reach 27.5 million new cases and 16.2 million cancer deaths by 2040. Therefore, the rising prevalence of cancer disease is anticipated to boost the chimeric antigen receptor T (CAR-T) cells market in the upcoming years.
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The chimeric antigen receptor t (car-t) cells market covered in this report is segmented –
1) By Target Antigen: CD19, CD22, Other Antigens
2) By Application: Acute Lymphoblastic Leukaemia, Diffuse Large B-Cell Lymphoma, Other Applications
3) By End User: Hospitals, Cancer Research Centres, Clinics
Product innovation is a key trend gaining popularity in the chimeric antigen receptor T (CAR-T) cells market. Major market players operating in the chimeric antigen receptor T (CAR-T) cells market are concentrating their efforts on creating innovative technologies to develop novel CAR-T cell-based treatments. For instance, in December 2021, Novartis AG, a Switzerland-based pharmaceutical company specializing in the development and manufacturing of drugs launched the T-Charge CAR-T platform. This technology-enabled platform enables the self to renew and maturation CAR-T cells offering a greater proliferative environment for cells.
The chimeric antigen receptor t (car-t) cells market report table of contents includes:
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