Engineered T Cells Market Expected to Reach $149.65 Billion by 2030

According to a new report published by Allied Market Research, titled, “Engineered T Cells Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030", the global engineered T cells market was valued at $9,668.0 million in 2020, and is projected to reach $149,650.6 million by 2030, registering a CAGR of 32.5% from 2021 to 2030.

Engineered T cells, also known as specifically modified T cells, are designed for the treatment of autoimmune diseases, primary immune deficiencies, and cancer. After administration of engineered T cells product, it enables reduction of toxicities and inhibits antigen escape (inability of immune system to respond to an infectious agent). The engineered T cells assist immune system to overcome the immunosuppressive tumor microenvironments and target cancer cells for effective treatment

Chimeric antigen receptor (CAR) T-cell therapy is a type of treatment in which a patient's T cells are changed in the laboratory so they bind to cancer cells and kill them. The CAR T-cell therapy is used to treat cancers such as diffuse large B-cell lymphoma (DLBCL), follicular lymphoma, mantle cell lymphoma, multiple myeloma, and B-cell acute lymphoblastic leukemia (ALL) in pediatric and young adult patients up to age 25.

Factors that drive the growth of the engineered T cells market include the rise in number of hospitals, increase in prevalence of cancer, and surge in number of geriatric population. For instance, as per the population reference bureau report, “Aging in the U.S.,” dated, July, 2019, number of Americans aged 65 and older is projected to increase more than double from 52 million in 2018 to over 95 million by 2060, and is expected to rise to around 23% from 16%. Furthermore, increase in R&D activity in T cell technology contributes in the growth of the engineered T cells market.

The Engineered T cells market is segmented on the basis of type, application, end user, and region. By type, the market is divided into chimeric antigen receptor (CAR) modified T cells, T cells receptor (TCR) modified T cells, and tumor infiltrating lymphocytes. The chimeric antigen receptor (CAR) modified T cells segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to the advancement in car T cell technology.

Based on application, the market is categorized into lung cancer, breast cancer, colorectal cancer, melanoma, and leukemia. The lung cancer segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to surge in prevalence of lung cancer. By end user, the market is divided into hospitals, cancer research centers, and clinics. The hospitals segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to increase in number of cancer hospitals.

North America accounted for a majority of the global Engineered T cells market is projected to tank $149.65 Bn by 2030. The profiles and growth strategies of the key players are thoroughly analyzed in the study.share in 2020, and is anticipated to remain dominant during the forecast period. Asia-Pacific is anticipated to witness lucrative growth, owing to the prevalence of cancer in region.

What is the Impact of COVID-19 Pandemic on Engineered T Cells Market?

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global engineered T cells market. The increased prevalence of viral infection has delayed the R&D activities for diseases; thereby, having a minimal negative impact on the market. The COVID-19 virus has serious and life-threatening impact on seriously ill patients. However, a huge number of clinics and hospitals across the globe were restructured to increase hospital capacity to provide better healthcare facility.

Key Findings of Study

• On the basis of type, the chimeric antigen receptor (CAR) modified T cells segment was the highest contributor to the market in 2020.
• Based on of application, the lung cancer segment was the highest contributor to the market in 2020
• Depending on end user, hospital segment dominated the market in 2020.
• On the basis of region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.