CAR-T Therapy Market To Grow At Whopping Rate Of 51% With Help Of Increasing Financial Support
CAR-T Therapy Market Global Report 2020
The Business Research Company’s CAR-T Therapy Market Report - Opportunities And Strategies - Global Forecast To 2030
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The global CAR-T therapy market is segmented by target antigen into CD19, CD22, others and by application into acute lymphoblastic leukemia, diffuse large b-cell lymphoma, follicular lymphoma, chronic lymphocytic leukemia, multiple myeloma, and others. CAR-T therapy is an immunotherapy used to treat cancer by using the patient’s own cells. In this therapy, the white blood cells are infused with chimeric antigen receptor that modifies the T-type of white blood cells to fight against cancer cells.
Companies in the cell therapy market are conducting clinical trials to assess the ability of CAR-T therapy to treat multiple myeloma. Multiple myeloma is a type of white blood cell cancer where the cancer cells accumulate in the bone marrow and surrounds the healthy blood cells. CAR-T therapy is being tested as a treatment for multiple myeloma. CAR-T cells are modified to target the multiple myeloma causing cells to treat the relapsed or refractory multiple myeloma (RRMM). Sorrento Therapeutics, a USA based developer of therapeutic approaches to treat different types of cancer, developed CAR2 anti-CD38 CAR-T cell therapy to treat RRMM. The CAR2 anti-CD38 CAR-T cell therapy is in Phase 1 of its clinical trial with 72 participant recruitments made by the end of 2019.The aim of the clinical trial is to evaluate the efficiency and safety of CAR2 anti-CD38 CAR-T cell therapy. The trial is expected to be completed in 2020.
The global CAR-T therapy market size was worth $0.61 billion in 2019. It is expected to grow at a whopping compound annual growth rate of 51.10% and reach $3.18 billion by 2023. The CAR-T cell therapy market is driven by the increasing financial support provided by different organizations to promote the development and consumption of CAR-T therapy. Government and non-government organizations provide financial support to the companies in CAR-T therapy market for research and development and to the patients for their treatment of acute lymphoblastic leukemia (ALL), positively affecting the market.
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