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 ClinicalTrials.gov 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.