The Business Research Company’s Cell And Gene Therapy Global Market Report 2020-30: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, February 11, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Chimeric antigen receptor (CAR) T-cell therapy is among cell and gene therapy market trends shaping the cell and gene therapy (CGT) market. CAR T-cell therapy is a combination of cell and gene therapy in which T cells are collected from the patient’s blood and are genetically engineered to produce modified receptors at their surface, known as chimeric antigen receptors (CARs). These modified T cells with special structures (receptors) are reinfused into the patient. Then, the modified receptors of the T cell help in targeting the surface antigen of the cancer cell which ultimately results in the killing of tumor cells in patients. In 2020, the US-FDA approved Bristol-Myers Squibb’s two CAR-T cell therapies to treat lymphoma and multiple myeloma, and it is set to be launched. Currently, the FDA has approved CAR-T cell therapy treatments like Tisagenlecleucel for the treatment of B-cell precursor acute lymphoblastic leukemia (ALL) in children and Axicabtagene ciloleucel for the treatment of adult patients with relapsed or refractory large B-cell lymphoma.
The global cell and gene therapy market size is expected to grow from $6.68 billion in 2019 to $6.92 billion in 2020 at a compound annual growth rate (CAGR) of 3.61%. The slow growth 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 CGT market is then expected to recover and reach $13.23 billion in 2023 at a CAGR of 24.10%.
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CAR-T Therapy Market – By Target Antigen (CD19 Therapy, CD22 Therapy, BCMA Therapy, Others), By Application (Acute Lymphoblastic Leukemia, Diffuse Large B-Cell Lymphoma, Follicular Lymphoma, Chronic Lymphocytic Leukemia, Multiple Myeloma, Others), And By Region, Opportunities And Strategies – Global Forecast To 2030
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