Yahoo Finance T-Cell Therapy Market to Reach US$ 76.6 Billion by 2033, As Per Transparency Market Research, Inc.
Rise in prevalence of cancer across the globe creates business opportunities for the T-cell therapy market
Wilmington, Delaware, United States, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. –The global T-cell therapy market is estimated to grow at a CAGR of 27.9% by the end of 2033, according to the research report by TMR.
T-cell therapy is a type of immunotherapy that harnesses the power of a patient’s T-cells. T-cells are a type of white blood cell that can combat cancer. The global T-cell therapy market is gaining momentum due to the rise in success rates of this therapy in treating several types of cancer, which has created potential growth prospects for the T-cell therapy industry.
The number of clinical trials has increased in recent years. T-cell therapies are used for treating various types of cancer. Further, the global T-cell therapy market is expected to continue to grow due to technological advancements.
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T-cell therapy Market: Growth Drivers
Increase in incidence of cancer worldwide is driving demand for innovative treatments, including T-cell therapies. The development of new T-cell therapy techniques and the upgrade of existing ones are driving the T-cell therapy industry growth.
Governments and regulatory bodies across the world are taking steps to encourage the development and approval of T-cell therapies, which is boosting the T-cell therapy business.
T-cell therapies have proved to be efficient in treating several types of cancer, particularly those that are resistant to traditional treatments, which is fueling demand for these treatments.
Key Findings of T-Cell Therapy Market
Based on therapy, the CAR-T segment has gained immense popularity owing to the rise in number of successful clinical trials. Advanced technology, such as next-generation CAR-T immunotherapy, adopted by healthcare practitioners has increased the revenue share of this segment in the T-cell therapy market.
By modality, the research segment is projected to show exponential growth during the forecast period. The number of therapies in the research stage is high, which is estimated to ultimately boost market progress in the near future. Furthermore, the pharmaceutical industry is likely to dominate the market due to the increase in sales of products in this category in the T-cell therapy business.
T-cell receptor based therapies have proved to be effective for melanoma treatment, which has created revenue generation opportunities for this segment.
T-Cell Therapy Market: Regional Dynamics
Key regions into which the T-cell therapy market is divided are Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
North America is the largest market for T-cell therapies. High prevalence of cancer, favorable regulatory policies, and an increase in investments in R&D activities, are expected to influence market growth.
Europe is also a growing market for T-cell therapies due to lucrative reimbursement policies and rise in number of healthcare centers providing advanced treatment for cancer
Asia Pacific is a potential market for T-cell therapies, fueled by factors such as a rapidly growing population and increasing investment in healthcare development. Furthermore, clinical studies to develop effective drugs for cancer in countries such as China have led to lucrative growth of the market.
T-Cell Therapy Market: Competitive Landscape
The T-cell therapy market is highly competitive, with several large pharmaceutical companies and biotechnology companies competing for market share. Pharmaceutical companies and research institutions are collaborating and partnering to develop new T-cell therapies to expand their market. High cost of T-cell therapies is a challenge for the market, although the cost is expected to decrease through technological innovations. The T-cell therapy market is also benefiting from an increase in investment from venture capital firms, private equity companies, and pharmaceutical companies.
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Key participants operating in the market are:
Pfizer Inc.
Gilead Sciences Inc.
Novartis AG
Amgen
Celgene Corporation
Sorrento Therapeutics
TCR2 Therapeutics Inc
Merck KGaA
Bluebird Bio Inc.
Fate Therapeutics
T-Cell Therapy Market: Segmentation
By Indication
Hematologic Malignancies
Lymphoma
Leukemia
Myeloma
Solid Tumors
Melanoma
Brain & Central Nervous System
Liver Cancer
Other solid Tumors
Other Indications
By Therapy Type
CAR T-cell Therapy
T Cell Receptor (TCR)-based
Tumor Infiltrating Lymphocytes (TIL)-based
By Modality
Research
Commercialized
Regional Outlook
North America
Latin America
Europe
APAC
MEA
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