Gilead Sciences, Inc. (US) and Novartis AG (Switzerland) are Leading Players in the CAR T-cell Therapy Market
The CAR T-cell therapy market is projected to reach USD 29.0 billion by 2029 from an estimated USD 5.5 billion in 2024, at a CAGR of 39.6% during the forecast period. The growth of the CAR T-cell therapy market is propelled by growing prevalence of cancer and technological advancements in the CAR T-cell therapy market. Additionally, rising investment and funding for CAR T-cell therapy development is further likely to drive the market growth.
The global CAR T-cell therapy market is consolidated with top players such as Bristol-Myers Squibb Company (US), Gilead Sciences, Inc. (US), Novartis AG (Switzerland), Johnson & Johnson (US), CARsgen Therapeutics Holdings Limited (China), IASO Biotherapeutics (China), JW (Cayman) Therapeutics Co. Ltd (China), ImmunoAct (India), CRISPR Therapeutics (Switzerland), Autolus Therapeutics (UK), Allogene Therapeutics (US), Cartesian Therapeutics, Inc. (US), Guangzhou Bio-gene Technology Co., Ltd (China) and Wugen (US). The market players have adopted various strategies such as new product launches, acquisitions, agreements, collaborations, partnerships, and geographical expansions to strengthen their position in the global CAR T-cell therapy market.
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Gilead Sciences, Inc. (US)
Gilead Sciences is a research-based biotechnology company focused on discovering, developing, and commercializing innovative medicines. The company offers two US FDA-approved CAR T-cell therapy products, YESCARTA (Axicabtagene ciloleucel) and TECARTUS (brexucabtagene autoleucel). The company focuses on developing novel medicines for treating life-threatening diseases, including HIV, viral hepatitis, and cancer. Gilead's acquisition of Kite Pharma and subsequent commercialization of Yescarta established a strong presence in CAR T-cell therapy. Collaborative efforts with academic institutions, biotech companies, and healthcare providers also aid in Gilead's research and development capabilities. These partnerships facilitate access to novel technologies, accelerate clinical trials, and expand therapeutic insights, enhancing Gilead's competitive advantage. For instance, in November 2023, Arcellx, Inc. & Gilead expanded their existing collaboration for Arcellx’s CART-ddBCMA to cover lymphomas.
Bristol-Myers Squibb Company (US)
Bristol-Myers Squibb is a biopharmaceutical company that focuses on the discovery & development of therapeutics for disease indications such as oncology, hematology, immunology, cardiovascular, and neuroscience. Bristol-Myers Squibb Company is one of the leading players in the CAR T-cell therapy market. The company’s leading position in the market is attributed to its strong brand recognition and product portfolio. The company focuses on developing new therapeutic products and invests substantially in R&D to maintain its position in the market. For instance, in 2023, the firm’s R&D expenditure was USD 9.3 billion.
Novartis AG (Switzerland)
Novartis AG is a healthcare company that develops novel medications for various therapeutic areas, including cardiovascular, renal, metabolic, immunology, neuroscience, and oncology. The company’s products are significant contributors to the CAR T- cell therapy market. Novartis gained an early foothold in the CAR T-cell therapy market with the FDA approval of Kymriah (tisagenlecleucel) in 2017, becoming the first approved CAR T therapy for B-cell precursor Acute Lymphoblastic Leukemia (ALL). This approval enabled Novartis to establish strong brand recognition and credibility in the field. The company also has a strong geographic presence with distribution channels across North America, Europe, Asia Pacific, Latin America, and Africa.
Related Reports:
CAR T-cell Therapy Market by Product (Abecma, Breyanzi, Carvykti, Yescarta, Tecartus, Kymriah), Target Antigen (CD19, BCMA), Indication (Multiple Myeloma, Leukemia, Lymphoma), Demographic (Adult, Pediatric), End User & Region - Global Forecast to 2029
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