Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Global T-Cell therapy Market Size, Share & Industry Trends Analysis Report By End User (Hospitals and Cancer Treatment Centers), By Indication (Lymphoma, Acute Lymphocytic Leukemia and Others), By Therapy Type, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global T-cell therapy market is set to experience remarkable growth, with a projected CAGR of 17.5% during the forecast period from 2023 to 2030. The market size is expected to reach $9.2 billion by 2030. The rising prevalence of acute lymphocytic leukemia and the increasing research and development efforts are driving the growth of T-cell therapy in this indication, which is anticipated to contribute more than 35% share of the market by 2030. The market's expansion is also supported by the increasing number of approvals, such as the FDA's expedited approval of teclistamab-cqyv for adults with relapsed or refractory multiple myeloma.
Key Growth Factors:
- Initiatives with International Government Support: Increased government and nonprofit organization efforts to treat hematological malignancies are expected to improve the market opportunity. Rising government support is anticipated to boost demand for T-cell therapies and propel market growth.
- Research and Development in T-Cell Therapies: Numerous clinical trials are still being conducted, and CAR T-cell research is progressing quickly. The discovery of novel tumor cell antigens suitable for CAR T-cell targets has contributed to the growth in research and development of T-cell therapies.
Market Restraints:
- High Cost and Strict Regulations: The high cost of T-cell therapy is impeding the market expansion of this treatment. This is limiting its adoption and patient access in some regions.
Key Market Players:
- Pfizer, Inc. is the forerunner in the market, followed by Johnson & Johnson, AbbVie, Inc., Novartis AG, and Gilead Sciences, Inc.
Strategies Deployed in the Market:
- Partnerships, Collaborations, and Agreements: Key players are forming strategic partnerships and collaborations to advance research and development, enhance product portfolios, and address unmet medical needs. Examples include Amgen's collaboration with TScan Therapeutics and Janssen Biotech's collaboration with Cellular Biomedicine Group Inc.
- Product Launch and Product Expansion: Companies are launching innovative products and expanding their portfolios to offer cutting-edge therapies to patients. Notably, Novartis launched its next-generation CAR-T platform, T-Charge, to reimagine CAR-T cell therapy.
- Acquisitions and Mergers: Key players are acquiring smaller biotech companies and technologies to strengthen their positions in the market. Notable examples include Gilead Sciences' acquisition of XinThera and Bristol Myers Squibb's acquisition of Turning Point Therapeutics.
- Trials and Approvals: Companies are actively seeking regulatory approvals for their T-cell therapy products. Several CAR-T therapies have gained approvals from the FDA for the treatment of different indications, such as Kymriah by Novartis and Yescarta by Kite, a Gilead Company.
- Geographical Expansions: Key players are expanding their manufacturing facilities and geographical footprints to meet the growing demand for T-cell therapies. Bristol Myers Squibb recently opened a U.S.-based manufacturing facility to increase production capabilities.
The global T-cell therapy market shows significant promise, driven by increasing government support, ongoing research and development, and the rise in hematological malignancies. However, high costs and strict regulations remain challenges. As key players continue to invest in partnerships, collaborations, and product advancements, the market is expected to witness substantial growth in the coming years.
Key Market Players
List of Companies Profiled in the Report:
- Merck KGaA
- Johnson & Johnson
- AbbVie, Inc.
- Gilead Sciences, Inc.
- Amgen, Inc.
- Novartis AG
- Sorrento Therapeutics, Inc.
- Bristol Myers Squibb Company
- Immunocore Holdings plc
- Pfizer, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/68swab
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