Global CAR-T cell therapy market stood at USD1709.00 million in 2021 and is expected to grow at a CAGR of 64.66% during the forecast period. This can be attributed to the increasing prevalence of different types of cancer globally. Additionally, the approval of new CAR-T cell therapies such as ABECMA (idecabtagene vicleucel) increased the demand for CAR-T cell therapies for the treatment of cancer. This, in turn, fueled the market growth of CAR-T cell therapy globally. Additionally, the increase in the number of cell therapy clinical studies, especially in the United States and China, also supports market growth over the next few years. Also, flourishing pharmaceutical research expenditure by both the governments and private industries across the different regions is expected to foster market growth during the forecast period.

Focus on Personalized Medicine Driving Market Growth

Personalized medicine is the beginning to overcome all the limitations of traditional medicine. Increasing personalized medicines allows healthcare providers to shift the emphasis in medicine from reaction to prevention. Personalized medicines have the potential to improve health care while also lowering costs. It enables an earlier diagnosis, risk management, and better treatment for the patient. Growing public knowledge and acceptance of customized medicine has fueled demand for cell-based therapies like CAR-T cell therapy to treat a variety of chronic illnesses.

Growing Prevalence of Cancer Supporting Market Growth

During the projected period, the rising prevalence of various types of cancer, particularly various forms of Lymphoma and Leukemia, is expected to boost the growth of the global CAR-T cell therapy market. According to Globocan statistics, there were roughly 19,292,789 new cancer cases registered in 2020. Breast, lung, colorectum, prostate, and stomach cancer were the most common kinds of cancer. Similarly, Non-Hodgkin Lymphoma was rated 12th, while Leukemia was placed 14th, with 544,352 and 474,519 instances reported for each kind, respectively. CAR-T cell therapies are used to treat different types of cancer which supports the market growth. For instance, YESCARTA is a CAR-T cell therapy, which is used to treat large B-cell lymphoma or follicular lymphoma.

Increase in Cell Therapy Clinical Studies Aids Market Growth

The growing awareness related to cell-based therapies and their benefits in treating various types of diseases and disorders has increased the research & development activities related to cell-based therapies, which leads to an increase in the number of clinical trials worldwide. Additionally, many people are eager to get themselves enrolled in clinical studies especially related to CAR-T cell therapy, thereby fueling the market growth through 2027. For instance, 1304 ongoing or upcoming CAR-related trials were registered at as of December 22, 2020. Out of which, a total of 433 trials (56%) were from China and 288 (37%) from the United States.

Increasing Demand for Organic Pesticides to support Market Growth

Organic pesticide market growth is primarily driven by rising consumer awareness of organic products and foods. Synthetic pesticides used in agricultural production are detrimental to humans and the environment. Organic pesticides are chemical-free, environmentally beneficial, and create fewer toxic residues, making them essential for organic farming. The demand for organic pesticides is also influenced by increased disposable income, environmental concerns, and comparable prices.

Faster Approvals of CAR-T Cell Therapies Supports the Market Growth

The first CAR-T cell therapy was approved on August 30, 2017, by the brand name of Kymirah and the second was approved in the same year by the name of Yescarta. Till December 2021, there are five approved CAR-T cell therapies globally. The most recent approved CAR-T cell therapy is Abecma by Bluebird Bio and BMS and is approved in the year 2021. This number is continuously increasing as many CAR-T cell therapies are on the edge of approval by the US-FDA. For instance, in September 2021, China’s National Medical Products Administration (NMPA) has approved its CAR-T cell immunotherapy of JW Therapeutics’ Relmacabtagene autoleucel injection by the brand name of relma-cel.