Visiongain has published a new report entitled the Cellular Immunotherapy Market Report 2021-2031. It includes profiles of Cellular Immunotherapy and Forecasts By Therapy Type (CAR-T Cell Therapy, NK Cell Therapy, TIL Therapy, Others) Market Segment by Products & Services (Cellular Immunotherapy Products, Cellular Immunotherapy Services) Market Segment by Testing Assays Type (Bioanalytics, Characterization, Biosafety) Market Segment by Indication (B-cell Malignancies, Prostate Cancer, Liver Cancer, Renal Cell Carcinoma, Others). PLUS Regional Market Analysis And COVID-19 Recovery Scenarios.
The global cellular immunotherapy drugs market was valued at US$ US$4.54 bn in 2020 and is projected to grow at a CAGR of 23.31% during the forecast period 2021-2031. The rising geriatric population, increasing prevalence of cancers, escalating investment in drug R&D by biopharmaceutical companies, rising demand for advanced therapies for cancer treatment are some of the major factors that drive the growth of the global cellular immunotherapy market.
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How has COVID-19 had a significant negative impact on the Cellular Immunotherapy Market?
The COVID-19 pandemic has a negative impact on the cellular immunotherapy market worldwide. The COVID-19 pandemic has resulted in the decreasing R&D related to cellular immunotherapy and issues with product delivery worldwide due to lockdown and insufficient supply of raw material. The pharmaceutical companies are facing challenges while R&D, manufacturing, and marketing due to the COVID-19 pandemic. According to the WHO, the COVID-19 pandemic has disturbed the healthcare services in many countries.
Drug development and manufacturing have been worldwide efforts, with China and India becoming as key players in the global pharmaceutical supply chain. Companies are concerned about the COVID-19 epidemic's impact on supply and demand. All of these factors are having a negative impact on the cellular immunotherapy sector, pushing the pharmaceutical industry and regulators to re-examine pharmaceutical supply chains.
How this Report Will Benefit you?
Visiongain’s 464+ page report provides 280 tables and 266 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global cellular immunotherapy market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for cellular immunotherapy. Get the financial analysis of the overall market and different segments including therapy type, product & services, indication, and testing assay type and capture higher market share. We believe that high opportunity remains in this fast-growing cellular immunotherapy market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Increasing prevalence of cancers and rising demand for advanced therapies for cancer treatment are the major factors driving the demand for cellular immuno therapies. According to the International Agency for Research on Cancer, 1 in 5 people will develop cancer during their lifetime, with 1 in 8 men and 1 in 11 women being affected. These recent figures indicate that more than 50 million people are living within five years of a previous cancer diagnosis.
The older population in the world is growing constantly at an unprecedented rate. At present, around 8.5% population in the world is aged 65 and over accounting for more than 615 million. Since older people are prone to developing cancer, the aging population leads to a higher number of patients living with cancer. The rising geriatric population burden is posing a public health challenge. As the aging population is increasing, the demand for advanced cancer therapies is also growing which is expected to drive the market during the forecast period.
Where are the market opportunities?
The R&D investment for the development of more advanced cellular immunotherapy is the major factor that will boost the market growth during the forecast period 2021-2031. Increasing research in the field of biological science has led many researchers to believe that biological therapies such as personalized medicines, monoclonal antibodies, and biosimilar drugs prove to treat the disease in a much better way. Rising investment in the field of R&D is therefore seen by major developers to initiate and commercialize these techniques for the treatment of cancer.
The developing healthcare infrastructure in emerging economies, rising incidence of cancer, rising popularity of advanced cellular immunotherapy, and government support for cellular therapies R&D are expected to boost the cellular immunotherapy market growth. Technical advances in manufacturing methods and improvements in CAR-T-cell therapy for solid tumors are expected to drive market growth.
The major players operating in the cellular immunotherapy market are Novartis AG; Gilead Sciences, Inc.; Adicet Bio; GlaxoSmithKline plc.; Pfizer Inc.; F. Hoffmann-La Roche Ltd.; Iovance Biotherapeutics, Inc.; Tessa Therapeutics Ltd.; Inovio Pharmaceuticals, Inc.; AstraZeneca;Adaptimmune Therapeutics plc.; Atara Biotherapeutics, Inc.;Bristol-Myers Squibb Company; APAC Biotech; and JW shinyak (JW CreaGene).
Strategic collaboration, R&D investment, and geographic development are some of the primary strategies used by the market's leading companies to gain the largest revenue share. For instance, In April 2020, Novartis received the US FDA granted Regenerative Medicine Advanced Therapy designation for its Kymriah (Tisagenlecleucel).
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