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(CityRegions.Com, September 19, 2018 ) The global CAR-T Cell therapy market is estimated to be valued at US$ 167.9 million in 2018 and is expected to witness a CAGR of 46.1% over the forecast period (2018 – 2028). Rising number of adults and children developing cancer is expected to lead to high demand for an effective and reliable therapeutic treatment approach for improvement of quality of patient’s lives. The Cancer Research UK reported that over 14.1 million cancer cases occurred in 2012 across the world. Moreover, according to the Leukemia and Lymphoma Society of Canada, around 22,340 people in Canada were diagnosed with some form of blood cancer, of which 9,000 cases were lymphoma.
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Moreover, development of new and effective therapy options to cure symptoms of the disease is also a vital factor contributing to growth of CAR-T cell therapy market. In 2017, the U.S. Food and Drug Administration approved two CAR-T cell therapies Kymriah and Yescarta for children and adult lymphoblastic leukemia and advanced lymphoma in adults, respectively. This is expected to aid in growth of the market over the forecast period.
Furthermore, increasing government initiatives for improving health care infrastructure and promoting research for cell therapy in cancer is fueling growth of the market. For instance, in December 2016, the National Cancer Advisory Board authorized US$ 1.8 Bn in funding for Cancer Moonshot, which is an initiative taken up to accelerate research with an aim to make more therapies available to patients with cancer.However, side effects associated with the cell therapy may lead to cytokine release syndrome (CRS) and other neurological problems that include seizures, coma, hallucinations, and delirium. This factor is expected to hinder the market growth.
In terms of market size, North America is dominant in the global CAR-T cell therapy market. This is attributed to rapid development and launch of new therapies for the treatment of cancer by key players in the market in the region. For instance, in August 2017, the U.S. Food and Drug Administration (FDA) approved Kymriah, a CAR-T cell therapy to treat pediatric and young adult patients suffering with a form of acute lymphoblastic leukemia. Moreover, a large patient pool suffering from cancer in the U.S. and Canada is expected to further support growth of region in the global market. For instance, according to the Centers of Disease Control and Prevention (CDC) 2016, around 171,000 patients with blood cancer are diagnosed each year in the U.S. Europe is expected to be the second most prominent market, in terms of revenue, owing to rising investment and extensive research for development of cancer therapies in the region. For instance, the European Hematology and Oncology department published an undergoing study in 2017 that states the role of CAR-T cells in treatment of Leukapheresis. Furthermore, Asia Pacific is expected to exhibit highest growth over the forecast period, owing to increasing number of global players collaborating and signing research as well as manufacturing contracts for CAR-T cell therapies with local players in the region. For instance, Cesca Therapeutics signed a license agreement with China-based, Boyalife Group, in March 2018, for CAR-T cell related bioprocessing, development, and manufacturing outsourcing.
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Coherent Market Insights
Pareesh Phulkar
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pareesh@coherentmarketinsights.com
Source: EmailWire.Com 
Source: EmailWire.com
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