Car T Cell Therapy Market Is Estimated To Witness High Growth |...

Car T Cell Therapy Market Is Estimated To Witness High Growth

Posted 2023-11-06 13:20:22

The Car T cell therapy market is estimated to be valued at US$ 12709.23 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Car T cell therapy involves genetically engineering a patient's own immune cells to attack certain cancers. T cells (a type of immune cell) are removed from the patient and modified in a laboratory to express a chimeric antigen receptor (CAR) that targets a specific protein on the surface of tumor cells. The modified CAR T cells are then infused back into the patient to locate and destroy cancer cells. This therapy is being used to treat some patients with certain blood cancers, like leukemia and lymphoma, when other treatments have not worked or the patient has recurrence of cancer.

Market Dynamics:
The global car T cell therapy market is primarily driven by rising incidences of cancer across the globe. According to WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Over 1 in 6 deaths are due to cancer. The growing prevalence of cancer is expected to drive the demand for more effective treatment options like car T cell therapy. Additionally, ongoing advancements in car T cell therapy development for treatment of solid tumors is also expected to fuel Car T Cell Therapy Market growth over the forecast period. For instance, companies like Janssen are developing car T cell therapies targeting antigens found in various solid tumors including bladder cancer, NSCLC and others. Finally, increasing investment in cell and gene therapy research by both public and private organizations is propelling market growth. Various funding programs by government bodies is facilitating the development of advanced car therapies.