Cellular Immunotherapy Global Market To Reach Value Of About $ 5.05 Billion In 2023
11 Nov, 2020
The global cellular immunotherapy market is expected to decline from $2.92 billion in 2019 to $2.74 billion in 2020 at a compound annual growth rate (CAGR) of -5.90%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $5.05 billion in 2023 at a CAGR of 22.53%.
The cellular immunotherapy market consists of revenues generated by the companies engaged in developing, manufacturing, and sales of cellular immunotherapy drugs. Cellular immunotherapy is also known as adoptive cell therapy, a form of treatment that utilizes the cells of the immune system to eliminate diseases including non-Hodgkin lymphoma, cancer, and acute lymphoblastic leukaemia.
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The global cellular immunotherapy market is further segmented based on type and geography.
By Therapy: Tumour-Infiltrating Lymphocyte (TIL) Therapy, Engineered T Cell Receptor (TCR) Therapy, Chimeric Antigen Receptor (CAR) T Cell Therapy, Natural Killer (NK) Cell Therapy.
By Primary Indication: B-cell Malignancies, Prostate Cancer, Renal Cell Carcinoma, Liver Cancer, Non-Hodgkin lymphoma, Others.
By Application: Prostate Cancer, Breast Cancer, Skin Cancer, Ovarian Cancer, Brain Tumour, Lung Cancer, Others.
By Geography: The global cellular immunotherapy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Cellular Immunotherapy Market
The high cost of cellular immunotherapies is anticipated to hinder the cellular immunotherapy’s market growth. CAR-T therapy is a type of cellular immunotherapy and only two have been approved in the USA. The price of Yescarta and Kymriah is more than $350,000 per treatment in the USA, which is highly unaffordable for a majority of the patients especially with low income.
Cellular Immunotherapy Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides cellular immunotherapy market overviews, analyzes and forecasts market size and growth for the global cellular immunotherapy market, cellular immunotherapy market share, cellular immunotherapy market players, cellular immunotherapy market segments and geographies, cellular immunotherapy market’s leading competitors’ revenues, profiles and market shares. The cellular immunotherapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.