Fort Collins, Colorado, May 11, 2024 (GLOBE NEWSWIRE) --
The rising prevalence of cancer worldwide is a significant catalyst for the T Cell Therapy market. As per the World Health Organization (WHO), cancer is the leading cause of global mortality, responsible for nearly 10 million deaths in 2020 alone. Projections from the International Agency for Research on Cancer (IARC) suggest a staggering increase in the global cancer burden, expected to reach 28.4 million cases by 2040, marking a 47% surge from 2020 figures. The rise in cancer burden, alongside the limitations of traditional cancer treatments like chemotherapy and radiation, underscores the urgent demand for more efficient and targeted therapies such as T cell therapies. T cell therapies hold promise in oncology by leveraging the patient's immune system to combat cancer.
Advancements in genetic engineering and cell manufacturing technologies have played a pivotal role in propelling the growth of the T Cell Therapy market. The emergence of chimeric antigen receptor (CAR) T cell therapy, involving the genetic modification of T cells to target specific cancer antigens, has revolutionized the treatment landscape for certain blood cancers. According to the U.S. Food and Drug Administration (FDA), five CAR T cell therapies have received approval for treating lymphoma, leukemia, and multiple myeloma. Furthermore, gene editing tools like CRISPR-Cas9 have facilitated the development of more potent and precise T cell therapies. Notably, the National Institutes of Health (NIH) have allocated over $190 million towards gene editing and cellular therapies research, highlighting these technologies' immense potential in advancing T cell therapies.
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Segmentation Overview:
The T cell therapy market has been segmented into type, application, end-user, and region.
CAR T cell therapy is the largest segment in the forecast period.
- Based on the market segmentation for the T Cell Therapy market by type, the largest sub-segment in 2023 is likely to be CAR T cell therapy. CAR T cell therapy has garnered significant attention and investment due to its remarkable success in treating certain hematological malignancies, such as acute lymphoblastic leukemia (ALL) and diffuse large B-cell lymphoma (DLBCL).
Hematological malignancies accounted for a massive growth in 2023.
- Based on the market segmentation for the T Cell Therapy market by application, hematological malignancies registered massive growth. Lymphoma and leukemia are the leading indications for T cell therapies, particularly CAR T cell therapies, in hematological malignancies.
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T Cell Therapy Market Report Highlights:
- The T cell therapy market growth is anticipated at a CAGR of 32.9% by 2032.
- Advancements in genetic engineering and cell manufacturing technologies encourages market development.
- The Asia-Pacific region is expected to be the fastest-growing market for T Cell Therapy in the near future, owing to the increasing incidence of cancer, rising healthcare expenditure, and growing government support for cellular therapies.
- Some prominent players in the T cell therapy market report include Novartis AG, Gilead Sciences, Inc., Bristol-Myers Squibb Company, Adaptimmune Therapeutics plc, Amgen Inc., Atara Biotherapeutics, Inc., Autolus Therapeutics plc, bluebird bio, Inc., Cellectis S.A., Iovance Biotherapeutics, Inc., Kite Pharma (a Gilead Company), and Tmunity Therapeutics, Inc.
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