SEATTLE, May 31, 2018 (GLOBE NEWSWIRE) -- The global CAR-T Cell therapy market is estimated to be valued at US$ 167.9 million in 2018 and is projected to exhibit a CAGR of 46.2% over the forecast period (2018–2028).
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Key Trends and Analysis of the CAR-T Cell Therapy Market:
CAR-T cell therapy is a novel therapy in the market exhibiting high market potential for companies engaged in development of these products. Novartis AG and Kite Pharma, Inc. are the top players in the market, owing to the FDA approvals received by these companies for their CART-T cell therapies that helps in the treatment of blood cancer. Commercialization of CAR-T cell therapy has resulted in rapid adoption of this treatment as it has reported successful results even in recurrent cancer cases.
Potential market players, majorly from developed economies, are focusing on developing and launching novel therapies to cater to growing demand for cancer treatment drugs for patients with high mortality rate. For instance, iCell Gene Therapeutics is conducting research for developing CAR-T cell therapy to treat malignancies and acute myeloid leukemia in adults. Moreover, rising incidence of potentially treatable cancers with appropriate therapy is also significantly contributing to growth of CAR-T cell therapy market. According to the World Health Organization, around 30%-50% of the cancer cases prevalent in 2017 could be prevented. This creates high potential opportunities for market players in terms of developing, manufacturing, and scaling up cancer treatments such as CAR-T cell therapies.
Key Market Takeaways:
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