Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global t-cell therapy market likely to propelling due to the rise in prevalence of cancer across the globe
Global T-cell therapy market estimated to grow with a CAGR of over 12.4% during the forecast period, 2020-2027. It is primarily attributed to the rising prevalence of cancer across the world and an increase in cancer research & development across the globe. According to WHO, around 70% of deaths from cancer occur in low-and middle-income countries, and also WHO stated that, by 2030, approximately 10 to 11 million cases of cancers would be diagnosed each year in low-and middle-income countries. Additionally, the increasing network of diverse CAR-T/TCR developers with their products offering will accelerate the t-cell therapy market size in the forecast timeline. In 2019, the U.S. Center for Medical Insurance and Medicaid Services (CMS) approved for medical insurance for T-cell therapy. Moreover, technological advancements in developments and processes in CAR T-cell therapy for solid tumors and the approvals and clinical success of Kymriah and Yescarta will fuel the robust growth of the t-cell therapy industry in the projected time. T-cell therapy uses immune cells extracted from the patient's blood to recompile them to identify and attack specific proteins found in brain tumors, and then re-import the immune cells into the patient's body system.
Furthermore, the surge in the number of patients presenting a failure response to alternative therapies coupled with the increasing occurrence of cancer cases across the globe will spur the global T-cell therapy market share in the future periods. Also, high cancer cases around the world projected to raise the demand for a reliable and effective therapeutic treatment approach that will augment the global t-cell therapy industry in the next few years.
Therapy Type Overview in the Global T-cell therapy Market
Based on therapy type, the global t-cell therapy market classified into CAR T-Cell Therapy, T Cell Receptor (TCR), and Tumor-Infiltrating Lymphocytes. The CAR T-Cell Therapy segment will be the fastest-growing segment in the forecast period. It is attributable to the effectiveness of CAR-T cell therapy, such that it has higher efficacy than other therapies currently available on the market for the treatment of cancer. The ability of CAR to integrate onto the surface of T cells, primarily when delivered by monoclonal antibodies, promotes T cells to more easily penetrate cancer-causing cells of patients.
T Cell Receptor (TCR) will grow at a significant rate in the forecast period. It is due to the T cell receptor (TCR) used for leukemia or other tumor cells.
Modality Overview in the Global T-cell therapy market
Based on modality, the global t-cell therapy market bifurcated into Research and Commercialized. The Commercialized will be the fastest-growing segment in the forecast period owing to the investment by start-up companies in treatment technologies of cancer diseases and approval of cell therapy by the USA and European Union.
Indication Overview in the Global T-cell therapy Market
Based on the indication, the global t-cell therapy market bifurcates into Hematologic Malignancies (Lymphoma, Leukemia, and Myeloma) and Solid Tumors (Melanoma, Brain & Central Nervous System, Liver cancer and others). The Hematologic Malignancies segment accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to t-cell therapy demand for the treatment of Lymphoma, Leukemia, and Myeloma.
Solid Tumors will grow with a lucrative rate during the analysis timespan owing to advanced t-cell therapy techniques find a way for the treatment of Melanoma, Brain & Central Nervous System, and Liver cancer.
Regional Overview in the Global T-cell therapy Market
By geography, the Global T-cell therapy Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for maximum revenue share in 2019, owing to the presence of keys players in these regions, the large number of research institute presence coupled with the approval of t-cell therapy in the U.S. and Canada by FDA.
Global T-cell therapy Market: Competitive Landscape
Companies such as Novartis AG, Gilead Sciences, bluebird bio, TCR2 Therapeutics Inc., Sorrento Therapeutics, Kite Pharma, Merck KGaA, Pfizer, Amgen, Celgene Corporation and Fate Therapeutics are the key players in the Global T-Cell Therapy Market.