Latest News- Car T-Cell Therapy Market: Hospitals is expected to lead the End-user segment during 2025-2029

The Car T-Cell Therapy Market is being driven by Growing awareness regarding CAR T-cell therapy

The Car T-Cell Therapy Market is expected to grow at a CAGR of 17.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3557.3 million. The global CAR T-cell therapy market is experiencing significant growth due to an increasing number of product approvals and clinical trials. Notably, Yescarta, a CAR T-cell therapy, received FDA approval in February 2022 as the first treatment for relapsed or refractory large B-cell lymphoma (LBCL), marking a milestone in this field. Yescarta was also the first CAR T-cell therapy to receive a Category 1 recommendation in the NCCN Treatment Guideline. In the same month, ciltacabtagene autoleucel (Carvykti) was approved by the FDA for patients with multiple refractory myeloma, further expanding the application of CAR T-cell therapy in oncology. These approvals underscore the market's potential and the significant progress being made in this therapeutic area. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Hospitals
  • Cancer treatment centers
• Type
  • CD19
  • CD22
  • BCMA
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing awareness regarding CAR T-cell therapy
• Increasing prevalence of blood cancer
• Increasing incidence of hematological malignancies

However, the market also witnesses some limitations, which are as follows:

• High cost associated with CAR T-cell therapy
• Safety concerns associated with CAR T-cell therapy
• Regulatory approvals and government regulations related to CAR T-cell therapy

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Market Scope in Car T-Cell Therapy Market Research Report

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Research Analysis Overview

The market for CAR T-cell therapy, a revolutionary cancer treatment, is experiencing significant growth due to the increasing incidence of cancer and the prevalence of blood cancers like leukemia and lymphoma. Reimbursement policies and public awareness are key factors influencing the patient population. Companies like Juno Therapeutics and Celgene Corporation are leading the way in developing CAR T-cell therapies, which tailor treatments to individual patients through precision medicine. The success of these therapies relies on advanced healthcare infrastructure and a growing understanding of cancer treatments.

Market Research Overview

The Car T-Cell Therapy market is a significant segment within the larger pharmaceuticals industry, focusing on the development and production of innovative cancer treatments. According to Technavio's market research, the global pharmaceuticals market is projected to grow due to several key drivers. These include the increasing incidence of cancer, with an estimated 19.3 million new cases worldwide in 2020, and the advancement of reimbursement policies to cover CAR T-cell therapies. Furthermore, public awareness campaigns and substantial investments from leading pharmaceutical companies are fueling the growth of this market. The global pharmaceuticals market, which encompasses manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is expected to witness significant expansion due to these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/