Yahoo Finance CAR-T Therapy Global Market Report 2022
Major players in the chimeric antigen receptor -T therapy market are Novartis AG, Kite Pharma, Pfizer Inc, Juno Therapeutics, Celgene Corporation, CARsgen Therapeutics, Sorrento Therapeutics, Legend Biotech, Mustang Bio, and Immune Therapeutics.
New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "CAR-T Therapy Global Market Report 2022" - https://www.reportlinker.com/p06280922/?utm_source=GNW
The global CAR-T therapy market is expected to grow from $1.40 billion in 2021 to $1.80 billion in 2022 at a compound annual growth rate (CAGR) of 28.6%. The market is expected to grow to $3.55 billion in 2026 at a compound annual growth rate (CAGR) of 18.5%.
The chimeric antigen receptor -T therapy market consists of sales of CAR-T therapy products and related services by entities (organizations, sole traders, and partnerships) that develop chimeric antigen receptor (CAR) T-cell therapies to treat blood cancers.CAR-T therapy is the type of immunotherapy in which T-cells are taken from the patient’s blood are modified in a laboratory with the addition of a special protein receptor that grants T-cells the power to recognize as well as kill cancer cells easily, along with infusing the same back into that patient.
This special protein receptor, known as the chimeric antigen receptor (CAR), attaches to a specific protein on a patient’s cancer cells. The infused cells multiply and prevail in the patient’s body as living drugs.
The main types of chimeric antigen receptor -T therapy is monotherapy and combination therapy.Monotherapy is used in the treatment of any disease with a single drug.
The target antigens involved are CD19, CD22, and others that are used in various applications such as acute lymphoblastic leukemia, diffuse large b-cell lymphoma, follicular lymphoma, chronic lymphocytic leukemia, multiple myeloma, and others.
North America was the largest region in the global CAR-t therapy market in 2021.Western Europe was the second-largest region in the CAR-T therapy market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The CAR-T therapy market is driven by the increasing financial support provided by different organizations to promote the development and consumption of CAR-T therapy.The government and non-government organizations provide financial support to the companies in the CAR-T therapy market for research and development and the patients for their treatment of acute lymphoblastic leukemia (ALL).
For instance, in 2019, the Ministry of Business, Innovation, and Employment of New Zealand announced its contribution of $4.9 million over 5 years to its partnership scheme with Malaghan Institute (MI), to support the development of CAR T-cell manufacturing in New Zealand. Further, governments in some countries provide subsidies to patients undergoing CAR-T therapy owing to the high cost of the treatment. For example, in 2019, the government of Australia included CAR-T therapy on the Medicare Benefits Schedule (MBS). The inclusion of (Kymriah®) CAR-T therapy in MBS reduces the cost of the treatment for almost 30 pediatric and young adult (ALL) patients per year in Australia. The financial support provided by different organizations towards CAR-T therapy positively drives the growth of the CAR-T therapy market.
The limitations on the application of CAR-T therapy limit the growth of the market.The limitations of CAR-T therapy include its failure to treat other types of cancer, side effects, and the high cost of treatment.
CAR-T therapy is widely used as a treatment for a particular type of blood cancer and fails to treat other types of cancers such as lung cancer or breast cancer.Further, in many cases, the application of CAR-T therapy results in cytokine release syndrome (CRS).
CRS is a severe flu-like condition causing high fever, nausea, chills, headache, rash, and troubled breathing.Further, the high cost limits the growth of the market.
According to an article in HealthLeaders in 2019, the cost of one CAR-T therapy session can be up to $375,000 excluding the overhead charges such as hospital bills. Thus, the growth of CAR-T therapy is restricted by the various limitations on the application of CAR-T therapy.
The companies in the CAR-T therapy market are conducting clinical trials to assess the ability of CAR-T therapy to treat multiple myeloma.Multiple myeloma is a type of white blood cell cancer where the cancer cells accumulate in the bone marrow and surrounds the healthy blood cells.
CAR-T therapy is being tested as a treatment for multiple myeloma.CAR-T cells are modified to target the multiple myeloma causing cells to treat the relapsed or refractory multiple myeloma (RRMM).
For instance, Sorrento Therapeutics, a USA-based developer of therapeutic approaches to treat different types of cancer, developed CAR2 anti-CD38 CAR-T cell therapy to treat RRMM.The CAR2 anti-CD38 CAR-T cell therapy is in phase 1 of its clinical trial with 72 participant recruitments made by the end of 2019.
The clinical trial aims to evaluate the efficiency and safety of CAR2 anti-CD38 CAR-T cell therapy. The trial is expected to be completed in 2020.
In 2019, Novartis, a Switzerland-based global medicines company, acquired CellforCure for an undisclosed amount.The acquisition is aimed to increase Novartis’ internal production capacity for cell and gene therapies.
CellforCure is a French-based contract development and manufacturing organization (CDMO) that provides a manufacturing facility for cell and gene therapy.
The countries covered in the chimeric antigen receptor -T therapy market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280922/?utm_source=GNW
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