The CAR-T Therapy Market Will See Tremendous Growth At 51% CAGR To 2023
The global CAR-T therapy market was worth $611.31 million in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 51.10% and reach $3,186.54 million by 2023. The CAR-T therapy market is driven by the increasing financial support provided by different organizations to promote the development and consumption of CAR-T therapy. The government and non-government organizations provide financial support to companies in the CAR-T therapy market for research and development, and to the patients for their treatment of acute lymphoblastic leukaemia (ALL). For instance, in 2019, the Ministry of Business, Innovation and Employment of New Zealand announced its contribution of $4.9 million over 5 years to its partnership scheme with Malaghan Institute (MI), in order to support the development of CAR T-cell manufacturing in New Zealand. Further, governments in some countries provide subsidy to patients undergoing CAR-T therapy owing to the high cost of the treatment. For example, in 2019, the government of Australia included the CAR-T therapy on the Medicare Benefits Schedule (MBS). The inclusion of (Kymriah®) CAR-T therapy in MBS reduces the cost of the treatment for almost 30 paediatric and young adult (ALL) patients per year in Australia. The financial support provided by different organizations towards CAR-T therapy positively drives the growth of the CAR-T therapy market.
The CAR-T therapy market consists of sales of CAR-T therapy products and related services involved in providing CAR-T therapy to cancer patients. The CAR-T therapy is an immunotherapy used to treat cancer by using patient’s own cells. In this therapy, the white blood cells are infused with chimeric antigen receptor that modifies the T-type of white blood cells to fight against cancer cells. The CAR-T therapy market is segmented by target antigen into CD19, CD22, and others. It is also segmented by application into acute lymphoblastic leukaemia, diffuse large b-cell lymphoma, follicular lymphoma, chronic lymphocytic leukaemia, multiple myeloma, and others.
Companies in the global CAR-T therapy market are conducting clinical trials to assess the ability of CAR-T therapy to treat multiple myeloma. Multiple myeloma is a type of white blood cell cancer where the cancer cells accumulate in the bone marrow and surrounds the healthy blood cells. CAR-T therapy is being tested as a treatment for multiple myeloma. CAR-T cells are modified to target the multiple myeloma causing cells to treat the relapsed or refractory multiple myeloma (RRMM). For instance, Sorrento Therapeutics, a USA based developer of therapeutic approaches to treat different types of cancer, developed CAR2 anti-CD38 CAR-T cell therapy to treat RRMM. The CAR2 anti-CD38 CAR-T cell therapy is in phase 1 of its clinical trial, with 72 participant recruitments made by the end of 2019.The aim of the clinical trial is to evaluate the efficiency and safety of CAR2 anti-CD38 CAR-T cell therapy. The trial is expected to be completed in 2020.