July 22, 2020 08:41 ET | Source: Quince Market Insights
Pune, India, July 22, 2020 (GLOBE NEWSWIRE) -- The global cart cell therapy market size was valued at USD 355.1 million in 2018 and is anticipated to grow at a CAGR of 29.4% during the forecast period. For years, the foundations of cancer treatment were chemotherapy, surgery, and radiation therapy. With the development of targeted therapies like trastuzumab (Herceptin) and imatinib (Gleevec), drugs that target cancer cells have cemented themselves as standard treatments for many types of cancers.
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But in recent years, immunotherapy has emerged as the "fifth pillar" of cancer treatment. The use of CAR T-cell clinical trials has captured the attention of researchers and the public alike because of the remarkable responses they have produced in both children and adults. Studies of CAR T-cell therapy in other blood cancers and treatment of solid tumors is also underway, researchers are exploring the application of CAR T-cell therapy.
The COVID-19 Impact on the Global Cart Cell Therapy Market
CAR-T and TCR-T therapies have revolutionized blood cancer treatment. Scientists at Duke-NUS Medical School are studying the potential of turning this approach for the treatment of COVID-19 patients.
Researchers suggest these immunotherapies might also be useful in treating SARS-CoV-2, the virus causing the current pandemic. Several organizations are also working on cell therapies for COVID-19. AlloVir and Baylor College of Medicine have partnered to develop an off-the-shelf therapy to target and treat the novel coronavirus.
The battle against COVID-19 is taking place across thousands of fronts in the U.S., from underfunded rural regional hospitals to the steel and glass high-rises of well-endowed university centers. What becomes clear when speaking with clinicians across the nation is that the effect of the pandemic on the delivery of CAR T-cell therapy depends on the type of center that provides it, as well as its location.
There were some initial delays providing CAR T-cell treatments at Mayo Clinic in Rochester, Minnesota, but they were short-lived and imposed in the name of patient safety as the institution looked to acquire an accurate diagnostic test to determine which patients had COVID-19.
CD19 to Lead the Target Antigen Segment of the Cart Cell Therapy Market
As per the current market scenario in 2018, the CD19 segment has covered the largest cart cell therapy market share and is projected to register a higher CAGR during the forecast period.
Besides, the growing need for integrated healthcare systems is responsible for the high demand for CD19 in the global cart cell therapy market.
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Cart Cell Therapy to Benefit Treatment of Blood Cancer Propelling the Growth of the Market
The application for the generation of revenues in the global cart cell therapy market is acute lymphoblastic leukemia, diffuse large b-cell lymphoma, and others. The acute lymphoblastic leukemia segment is predicted to account for the largest share. Cart Cell Therapy provides alternative therapeutic options for patients who failed to respond to conventional treatment or relapse for acute lymphoblastic leukemia which is a type of blood cancer.
Increasing Research Studies and Clinical Trials to Fuel the Growth of the Healthcare Segment
In 2018, healthcare accounted for the largest share of the end-user segment. As cart cell therapy improves clinical outcomes by helping to improve disease management. This will result in a shorter duration of hospitalization and overall physician observation hours.
North America Held a Major Market Share of the Global Cart Cell Therapy Market
North America holds a dominant position in the global cart cell therapy market. The region's dominance is attributable to favorable government policies for the prevention of disease and HCIT adoption, increasing funding for population health management, raising prevalence of chronic diseases, and the presence of well-developed healthcare infrastructure. For Instance, in 2010, the U.S. government implemented the Patient Protection and Affordable Care Act which encourages a high quality of care and reduces costs. The act has encouraged the creation of Accountable Care Organizations (ACOs), including the Medicare Shared Savings Program (MSSP).
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Companies Collaborate & Promote R&D along with Product Development
Cart Cell Therapy Market vendors are making substantial efforts in adopting advanced technologies essentially by allying and partnering that will help to facilitate the demand for Cart Cell Therapy.
Key participants include operating in the market include Bellicum Pharmaceuticals, Kite Pharma, Novartis AG, Mustang Bio, CARsgen Therapeutics, Sorrento Therapeutics, Autolus Therapeutics, Cellectis, Pfizer Inc., Legend Biotech, and others.
Search Important insights on Cart Cell Therapy Industry, By Region (Western Europe, North America, Eastern Europe, Middle East, Asia Pacific, and the Rest of the World), by End User (Pharmaceuticals, Hospital, Clinic and Others), By Target Antigen (CD22, CD19, and Others), and Application (Diffuse Large B-Cell Lymphoma, Acute Lymphoblastic Leukemia, and Others) Market Forecast & Assessment (2017-2028).
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Quince Market Insights is a global market research and consulting company publishing syndicate studies as well as consulting assignments pertaining to markets that promise high growth opportunities in strategic future. We are dedicated team of analysts with strong base in technical expertise as well as thorough understanding of the market dynamics. Some of key areas expertise includes chemicals, advanced materials, construction, mining, food & agriculture, automotive, machines & equipment, and others. We analyze emerging trends in relatively nascent markets that promise high growth opportunities in future. We focus towards precision research practices that provide accurate market estimations and forecasts. This helps our clients to make proper estimations with regards to demand analysis, regional growth, major competitors, and dynamics of the market.
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