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The healthcare vertical is working on getting the following 4 things by its side – access, affordability, efficiency, and quality. As such, the key participants in the Car T Cell Therapy Market are investing in the replacement or optimization of workforce processes, technologies, and foundational structures, to dole out value-based and cost-effective solutions.
A considerable dip in the development of effective chemotherapy agents is expected to account for increasing preference for CAR T-cell therapy as an effective immunotherapy. In cases where patients do not seem responsive to these therapies, especially in case of relapsed or refractory B-cell lymphoma, CAR T-cell therapy has been proven to be highly effective. A new research study of Persistence Market Research (PMR) suggests that the increase in product availability in developed regional markets such as North America, Europe, and Japan, with high incidence of relapsed cancer will accelerate CAR T-cell therapy market in the near future.
CAR T-cell therapy is based on a personalized approach and thus, ensures improved patient compliance that tends to change the perception towards its adoption. Prominently driven by this, global CAR T-cell therapy market is expected to reach the revenues worth US$ 800 Mn by the end of 2019 and would exhibit spectacular growth through 2026, at an estimated CAGR of 18%.
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Company Profiles:
Key Takeaways – CAR T-cell Therapy Market Study
Recently, the U.S. Food and Drug Association (FDA) has granted orphan drug designation to clinical stage CAR T-cell therapies. This development is crucial and will further complement the growth prospects of global CAR T-cell therapy market over the period of next few years.
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Strategic Expansion by Dominant Players Benefiting Market
CAR T-cell therapy market is expected to witness significant growth, majorly attributed to new product launches that are lined up in the near future and multiple developments in CAR T-cell therapy targeting other cancer types. North America and Europe are expected to hold a major share in global CAR T-cell therapy market, with active production sites only in the U.S.
Manufacturers thus need to send across sample of T-cells from Europe to the U.S. and then return final products to Europe post manufacturing. This process would increase the overall production costs, average treatment waiting time for patients, and ultimately limits the potential CAR T-cell therapy market growth. To overcome such challenges, Novartis AG and Gilead Sciences Inc., dominant companies in the CAR T-cell therapy market, are strategizing on expansion to meet the growing CAR T-cell therapy demand in other regions.
Novartis AG, a manufacturer of CAR T-cell therapy product Kymriah is expanding its production facility with investment of over US$ 91.5 million through 2021 in Stein, Switzerland. Similarly, Gilead Sciences Inc. manufacturer of Yescarta, is focusing on expanding production facility in the Netherlands, with operations expected to commence by end of 2020.
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Know More About CAR T-cell Therapy Market Report
Persistence Market Research offers a unique perspective and actionable insights on CAR T-cell therapy in its latest study, presenting historical demand assessment from 2017 – 2018 and projections from 2019 – 2026 on the basis of product type (axicabtagene ciloleucel, tisagenlecleucel, lisocabtagene maraleucel and bb2121), indication (relapsed large B-cell lymphoma, acute lymphoblastic leukemia, multiple myeloma), end user (hospitals, cancer treatment centers) in three prominent regions.
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Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.
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