Seattle, WA -- (SBWIRE) -- 03/02/2020 -- The Global CAR T Cell Therapy Market is expected to be valued at US$ 8.5 Billion by 2028, as analysed by Worldwide Market Reports. Increasing demand for genetically engineered treatment approach for high success rate in cancer treatment along with growing cancer incidence rate are key factors driving demand for CAR T cell therapy products worldwide.

Lately, CAR T cell therapy has emerged as the new pillar for cancer treatment, creating high market potential for companies engaged in development and promotion of the product. Currently, Novartis International AG, Juno Therapeutics and Kite Pharma Inc. are dominating the CAR T cell therapy market. Clinical research by these players have revealed high rate of remission in patients with r/r B cell ALL and DLBCL. These companies are making major investments in R&D to expedite the clinical process. Novartis invested around US$ 9 billion in R&D - significant share of it is allocated towards oncology and development of CAR-T cell products in 2016. This novel cellular immunotherapy has attracted significant investment in last two years.

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CAR T cell therapy market is expected to be primarily driven by increasing demand for highly effective therapy mode of treating cancer. Combating cancer has been a major concern for healthcare industry for years. CAR T cell works on gene transfer technology that boosts the immune response of cancer affected individual by destroying affected tumour cells. It has been analysed to act as a lifesaving drug for over 30 million patients' sufferings from lymphoma. Though the CAR T cell therapy market outlook is highly optimistic, market players need to address the manufacturing and scalability options to generate higher profits. Novartis and Kite have already started building a roadmap for it.

The prominent players in the global CAR T cell therapy market are Novartis AG (Switzerland), Pfizer, Inc. (US), Kite Pharma (US), Cellectis (France), Autolus Therapeutics PLC (UK), CARsgen Therapeutics (China), Juno Therapeutics (US), Sorrento Therapeutics (US), Legend Biotech (US), Mustang Bio (US), and others.

Key takeaways of the market are:
North America is expected to dominate the CAR T cell therapy market throughout the forecast period. The region is expected to account for 58.3% of overall industry share by 2018. Leukaemia, lymphoma, and myeloma accounted for 9.4% of 1.6 million newly diagnosed cancer in 2015. Each year, around 55 thousand people die due to leukaemia, lymphoma and myeloma in U.S. Emergence of CAR T cell therapy is expected to address the blood cancer concerns. Mortality rate is expected to be drastically lower by 2020 with the adoption of this novel treatment approach.

Europe is expected to be the second largest market for CAR T cell therapy products manufacturers. Although, the region is expected to create lucrative market opportunities, conducting country-specific clinical trials across Europe is expected to be a cumbersome process for companies and is a key challenge for growth prospects in the region.

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CD 19 based therapy segment is expected to dominate the global CAR T cell therapy market revenue throughout the forecast period. CD 19 segment is expected to touch a billion dollar mark by 2023. Much of the companies are working on CD 19 to combat leukaemia. Other antigens such as CD 20 and CD 22 are also expected to create significant revenue opportunity for treatment of solid tumours.

At present, Novartis International AG and Kite Pharma Inc. are expected to launch their products in 2017. Juno Therapeutics is expected to commercialise its product by 2018. Besides these players, Bellicum Pharmaceutical, Celgene Corporation, and Cellectisare also engaged in R&D process and are focusing on curtailing time-to-market for their product to capitalise the market potential in the following 10 years.