A considerable dip in the development of effective chemotherapy agents is expected to account for increasing preference for CAR T-cell therapy as an effective immunotherapy. In cases where patients do not seem responsive to these therapies, especially in case of relapsed or refractory B-cell lymphoma, CAR T-cell therapy has been proven to be highly effective.
A new research study of Persistence Market Research (PMR) suggests that the increase in product availability in developed regional markets such as North America, Europe, and Japan, with high incidence of relapsed cancer will accelerate CAR T-cell therapy market in the near future.
CAR T-cell therapy is based on a personalized approach and thus, ensures improved patient compliance that tends to changing the perception towards its adoption. Prominently driven by this, global CAR T-cell therapy market is expected to reach the revenues worth US$ 800 Mn by the end of 2019 and would exhibit spectacular growth through 2026, at an estimated CAGR of 18%.
For Detailed Insights On Enhancing Your Product Footprint, Request For A Sample Here @ https://www.persistencemarketresearch.com/samples/28264
Key Takeaways – CAR T-cell Therapy Market Study
- Increasing product availability, improving reimbursement scenarios, and expanding patient pool of relapsed cancer will remain the key factors shaping CAR T-cell therapy market landscape in Europe.
- High price point of CAR T-cell therapy continues to hamper its adoption for relapsed cancer treatment. To tackle this issue, Novartis AG, the pioneering CAR T-cell therapy manufacturer agreed for discounted pricing of its products in the U.K. after striking the deal with National Health Service (NHS). In October 2018, NHS also signed a deal with CAR T-cell therapy Yescarta manufacturer, Gilead Sceinces Inc.
- CAR T-cell therapy agent, bb2121, is in the late stage of clinical development for treatment of multiple myeloma. It would be the first CAR T-cell therapy agent approved for multiple myeloma treatment.
- Axicabtagene ciloleucel is projected to be a high selling product owing to its comparatively easier and glitch-free manufacturing procedure, compared to tisagenlecleucel.
- In terms of indication, owing to large patient pool of relapsed large B-cell lymphoma, coupled with higher adoption rate of CAR T-cell therapy for its treatment, it is expected to garner higher revenue share as compared to acute lymphoblastic leukemia.
Recently, the U.S. Food and Drug Association (FDA) has granted orphan drug designation to clinical stage CAR T-cell therapies. This development is crucial and will further complement the growth prospects of global CAR T-cell therapy market over the period of next few years.
Strategic Expansion by Dominant Players Benefiting Market
CAR T-cell therapy market is expected to witness significant growth, majorly attributed to new product launches that are lined up in the near future and multiple developments in CAR T-cell therapy targeting other cancer types. North America and Europe are expected to hold a major share in global CAR T-cell therapy market, with active production sites only in the U.S.
Manufacturers thus need to send across sample of T-cells from Europe to the U.S. and then return final products to Europe post manufacturing. This process would increase the overall production costs, average treatment waiting time for patients, and ultimately limits the potential CAR T-cell therapy market growth. To overcome such challenges, Novartis AG and Gilead Sciences Inc., dominant companies in the CAR T-cell therapy market, are strategizing on expansion to meet the growing CAR T-cell therapy demand in other regions.
Novartis AG, a manufacturer of CAR T-cell therapy product Kymriah is expanding its production facility with investment of over US$ 91.5 million through 2021 in Stein, Switzerland. Similarly, Gilead Sciences Inc. manufacturer of Yescarta, is focusing on expanding production facility in the Netherlands, with operations expected to commence by end of 2020.
- Novartis AG
- Gilead Sciences Inc.
- Celgene Corporation
- bluebird bio, Inc.
To Get Extensive Insights On Key Trends, Request For Customization Here @ https://www.persistencemarketresearch.com/request-customization/28264
Know More About CAR T-cell Therapy Market Report
Persistence Market Research offers a unique perspective and actionable insights on CAR T-cell therapy in its latest study, presenting historical demand assessment from 2017 – 2018 and projections from 2019 – 2026 on the basis of product type (axicabtagene ciloleucel, tisagenlecleucel, lisocabtagene maraleucel and bb2121), indication (relapsed large B-cell lymphoma, acute lymphoblastic leukemia, multiple myeloma), end user (hospitals, cancer treatment centers) in three prominent regions.