CAR T cell therapy involves genetically modifying a patient's own T cells to attack and kill cancer cells. These therapies represent a new treatment approach for certain types of cancer. CAR T cells are collected from a patient's own blood and are genetically modified to recognize a specific protein on the surface of cancer cells, allowing the CAR T cells to locate and destroy those cancer cells. Three CAR T cell therapies have been approved by the U.S. Food and Drug Administration for the treatment of certain types of lymphoma and leukemia.

The global CAR T Cell Therapy Market is estimated to be valued at US$ 2.26 Bn in 2023 and is expected to exhibit a CAGR of 20.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The increasing cancer incidence and prevalence is one of the major factors driving the growth of the CAR T cell therapy market. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide and accounted for nearly 10 million deaths in 2020. The increasing R&D investments for developing improved and advanced CAR T cell therapies is also fueling the market growth. Several pharmaceutical companies are focusing on conducting clinical trials to evaluate the safety and efficacy of CAR T cell therapies for the treatment of other cancer types. For instance, in October 2021, Bristol-Myers Squibb Company announced that the U.S. FDA had accepted its Biologics License Application (BLA) for lisocabtagene maraleucel (liso-cel), an investigational B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T cell therapy, for the treatment of adult patients with relapsed or refractory multiple myeloma.

SWOT ANALYSIS
Strength: CAR T cell therapy is an innovative and powerful approach for treating cancer. It harnesses the body's immune system to fight cancer. By reprogramming T cells to recognize and attack cancer cells, CAR T cell therapy has achieved long-lasting remissions in some forms of cancer like acute lymphoblastic leukemia. Over 90% of CAR T cell therapy patients who failed to respond to other treatments have achieved complete response.

Weakness: CAR T cell therapy can cause serious side effects in some patients including cytokine release syndrome and neurotoxicity. These side effects occur as the modified T cells attack normal cells. The risks are higher for solid tumors where non-cancer cells are more prevalent and intermixed with cancer cells. Development is also costly and manufacturing is complex taking 4-6 weeks time for each custom therapy.

Opportunity: CAR T cell therapies have had success against some blood cancers but their application to solid tumors represents a major opportunity. Ongoing research seeks to engineer T cells that can effectively target solid tumors while avoiding unwanted side effects. Novel technologies like TCR therapies and NK Cell therapies also offer new avenues in cellular immunotherapy. Cell therapy research may enable personalized and off-the-shelf options to expand patient access in the future.

Threats: High development costs of cell therapies pose affordability challenges. Hospital infrastructure may need upgrading for cell therapy delivery. Dependence on blood/tissue from individual patients also impacts scalability. Immune evasion by tumors continues to limit efficacy of immunotherapies. stringent regulatory requirements and safety concerns regarding serious side effects remain threats to widespread adoption.

KEY TAKEAWAYS

The Global CAR T Cell Therapy Market Size is expected to witness high growth over the forecast period of 2023-2030.The market was valued at US$ 2.26 Bn in 2023 and is projected to grow at a CAGR of 20.9%.

Regional analysis

North America currently contributes maximum share to the global CAR T cell therapy market owing to increasing research activities, raising awareness, and high adoption rates of novel therapeutics. Favorable reimbursement policies add to market growth. However, Asia Pacific region is emerging as a high potential market and is expected witness fastest growth in the forecast period. This is attributed to large cancer prevalent population especially in China and India and local investments by key industry stakeholders to develop regional production facilities to meet domestic demand.

Key players:
Key players operating in the CAR T cell therapy market are Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Novartis AG, CARsgenTherapeutics Co

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