DUBLIN--(BUSINESS WIRE)--Oct 27, 2022--
The "Europe CAR-T Cell Therapy Market Size, Trends & Growth Opportunity, By Type, By Application, By End-user By country and Forecast till 2027." report has been added to ResearchAndMarkets.com's offering.
The Europe CAR-T Cell Therapy market was valued at USD 396.21 Mn in 2021 which expected to reach USD 1,904.40 Mn by 2027 at a CAGR 30.45% from 2020-2027.
Company Profiles
The CAR-T Cell Therapy market is a conceptual examination of all commercial activities related to CAR-T Cell Therapy, either directly or indirectly. As a result, a new investor can learn about CAR-T Cell Therapy firms, their important products, their basic strategy, key CAR-T Cell Therapy market trends, and more.
Market Drivers
Increasing approvals for CAR-T cell therapy products.
Increase in awareness about the new approach to treat cancer leads to increase in demand for the CAR-T cell therapy products. Thus, the key players in market are engaged in developing new products & thereby drive the growth of Europe CAR-T Cell Market.
For Instance, in June 2020, Kite Pharma, received approval to implement a variation to the Yescarta (axicabtagene ciloleucel) Marketing Authorization from the European Medicine Agency for end-to-end manufacturing. With this approval, Kite's European manufacturing facility, designed & dedicated to the manufacture of individualized cell therapies, is now fully operational.
Market Restraints
CAR T therapies often come with unique drug development challenges. Some potential challenges associated with CAR T development is likely to hamper the growth of the Europe CAR-T Cell Therapy market. The potential challenges include limited guidance, manufacturing and distribution logistics, products safety etc.
Moreover, high cost involved in research & development for CAR-T cell therapies & lack of expertise as well as inadequate knowledge about CAR-T cell therapies are the major factors among others acting as restraints, and will further challenge the market in the forecast period.
Impact of COVID-19
Many businesses have seen their operations & financial performance suffer as a result of the COVID-19 pandemic and a slowing of global research activity. The negative impact is mostly due to the closure of academic & research institutes, as well as testing laboratories. As a result, the clinical trials conducted for the car T cell therapy has been delayed.
COVID-19 is posing a significant threat to health of vulnerable patients, like immunocompromised patients. CAR-T-cell therapy recipients are at high risk of poor COVID-19 due to their severely immunocompromised state, caused by prior lymphodepleting immunochemotherapy & CAR-T-cell therapy related side effects like B-cell depletion, hypogammaglobulinemia, and cytopenias.
Market Segmentation
By Type
By Application
By End-user
By Country
Key Questions Addressed by the Report
For more information about this report visit https://www.researchandmarkets.com/r/s9x78g
View source version on businesswire.com:https://www.businesswire.com/news/home/20221027005969/en/
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KEYWORD: EUROPE
INDUSTRY KEYWORD: ONCOLOGY HEALTH HOSPITALS GENETICS PHARMACEUTICAL BIOTECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/27/2022 01:17 PM/DISC: 10/27/2022 01:17 PM
http://www.businesswire.com/news/home/20221027005969/en