The global Cellular Immunotherapy Market size is expected to reach USD 37.97 billion by 2030, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 22.41% during the forecast period, driven by the growing government support for innovative therapies research, rising prevalence of cancer, development of advanced cell-based immunotherapies, and increasing R&D investment by global players.
Growing
support from government organizations and research institutes including the
National Cancer Institute (NCI) and Center of Excellence in Immunology (CEI)
for cellular immunotherapies research is one of the major factors driving the
market growth. For instance, the CEI pulls out experts from other institutes
such as NCI and NIH to promote the growth of immunotherapy for the treatment of
cancer. Also, the Surgery Branch of the National Cancer Institute's Center for
Cancer Research (CCR) is committed to the innovation of novel immunotherapies
for the treatment of cancer patients.
The
rising number of M&As, collaborations, acquisitions, and funding is a major
trend observed in the market. M&A and collaboration help companies expand
their existing product portfolio and regional reach in a short period. For
instance, in March 2021, TrakCel received funding from Labcorp and
AmerisourceBergen for cellular therapy orchestration research and global
expansion. Also, in April 2020, Kite (a Gilead Company) and Teneobio, Inc.
entered into a license agreement through which Kite will receive exclusive
rights to specific antibodies targeted to B-cell maturation antigen (BCMA).
Thus, such M&A and collaborations are expected to boost the market growth.
A
substantial number of cellular immunotherapy companies are engaged in new
product launches, pertaining to licensing, collaborations, & acquisitions,
and regional expansion. Some of the key companies in the market are
Bristol-Myers Squibb Company; Novartis AG; Gilead Sciences Inc. (Kite Pharma);
F. Hoffmann-La Roche Ltd.; and Johnson & Johnson. These companies are adopting
various business models to gain a competitive advantage. For instance, in
February 2021, Novartis secured approval for the first Australian commercial
CAR-T manufacturing site for Kymriah. With this approval, the company would be
able to develop Kymriah in Australia, thereby providing easy access to
Australian patients.
The
COVID-19 pandemic has had a high impact on the market. Owing to stringent
regulations to curb the pandemic, a slowdown in clinical trials, approval of
new drugs, and delayed cancer diagnosis have been observed, affecting the
industry's growth amid the pandemic. However, in several countries, the effect
of COVID-19 declined after the third quarter of 2021, which helped the market
regain traction.
Related Press
Release@ Cellular
Immunotherapy Market Report
Cellular Immunotherapy Market Report Highlights
- CAR T cell
therapy segment contributed a significant revenue share of 71.6% in 2021.
Factors such as approval of new drugs, patent protection, and a robust
product pipeline are expected to drive the segment
- B-cell
malignancy is the largest segment by indication in 2021 due to the high
product penetration; BREYANZI and Yescarta are among the drugs that
contribute to its high share
- Hospitals
dominated the market in 2021 due to the availability of skilled healthcare
practitioners in hospital settings and ease of reimbursement
- North
America dominated the market in terms of revenue in 2021, owing to the
availability of a well-established healthcare infrastructure, high per
capita healthcare expenditure, and the increasing prevalence of cancer in
the region
- Some of the
key players in the market space are Gilead Sciences Inc. (Kite Pharma);
Bristol-Myers Squibb Company; Novartis AG; F. Hoffmann-La Roche Ltd.;
GlaxoSmithKline plc.; Merck KGaA; AstraZeneca; Celyad; Pfizer Inc.; Adicet
Bio, Inc.; Johnson & Johnson; and Dendreon Pharmaceuticals LLC
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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