South Korea Car-T Cell Therapy Market Poised To Grow At A Robust Pace Due To Rising Cancer Prevalence

 

The South Korea car-T cell therapy market comprises therapies that utilize a patient's own immune cells to fight cancer. Car-T cell therapy involves extracting T cells from a patient and engineering them to recognize and attack cancer cells. The engineered T cells are then infused back into the patient to trigger an immune response against cancer. This targeted immunotherapy offers promising outcomes for treating hematological malignancies and solid tumors.

South Korea car-T cell therapy market is estimated to be valued at US$ 7.88 Mn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024-2031.

Rising cancer incidence, increasing funding for immunotherapies, and the approval of novel Car-T cell therapies are key factors driving the market. However, high manufacturing costs and potential toxicities associated with Car-T cell therapies remain a challenge to market growth.

 
Key Takeaways

Key players operating in the South Korea car-T cell therapy are Novartis AG, Pfizer, Inc., Bristol Myers Squibb, CARsgen Therapeutics Co., Ltd., Fate Therapeutics, Inc., Poseida Therapeutics, Inc., Eureka Therapeutics, Inc., Johnson & Johnson, Cellular Biomedicine Group, and Gilead Sciences, Inc. These players are focusing on developing advanced Car-T cell therapies and expanding their clinical pipelines.

The South Korean market provides significant opportunities for Car-T cell therapy owing to the presence of a large pool of cancer patients, government support for cell and gene therapy research, and growing healthcare expenditure. Key players are collaborating with local hospitals and clinics to conduct clinical trials and boost access to innovative immunotherapies.

Globally, leading players are looking to penetrate markets in Asia to tap the growth potential. Manufacturers are partnering with contract manufacturers in South Korea to facilitate localized manufacturing and distribution of Car-T cell therapies. This will help enhance their market footprint and address regional demand from hospitals and research institutes.

Market Drivers

- Growing cancer burden in South Korea: Cancer is a leading cause of mortality in the country. The prevalence of hematological and solid tumors is rising rapidly and driving demand for advanced treatment options such as Car-T cell therapy.

- Government support for cell and gene therapy research: The South Korean government is offering increasing funding and subsidies for clinical trials and research & development of immunotherapies like Car-T cell therapy. This is encouraging players to develop novel therapies.


Market Restraints

 - High manufacturing and transportation costs: Production of Car-T cell therapy requires specialized infrastructure and equipment. Limitations related to cell processing facilities and transportation logistics add to the overall manufacturing expenses.

- Risk of toxicities: While Car-T cell therapy is effective, it may cause life-threatening side effects like cytokine release syndrome and neurological toxicities in some patients. This raises safety concerns and hampers full acceptance of the technology.

Segment Analysis

The non-Hodgkin lymphoma (NHL) segment dominates the South Korea car-T cell therapy market currently owing to the high disease prevalence and increasing adoption of car-T cell therapy drugs like Kymriah and Yescarta for NHL treatment. The acute lymphocytic leukaemia segment is also growing at a faster pace due to the approvals and launches of newer car-T therapies like Kymriah and Tecartus for drug resistant/relapsed acute lymphocytic leukaemia.

Global Analysis

Regionally, the South Korea market is expected to witness the fastest growth during the forecast period. This is attributed to the high prevalence of hematologic cancers, government initiatives to promote CAR-T cell R&D activities, increasing healthcare expenditure, and better access to advanced cancer therapies. Additionally, the presence of leading car-T cell therapy manufacturers like Novartis and Bristol Myers Squibb with their approved therapies is also driving the regional market growth. On the other hand, North America will continue to dominate the global CAR-T cell therapy market during the forecast period owing to the presence of major pharmaceutical companies, strong R&D investments in CAR-T cell development, and robust pipeline of novel CAR-T therapies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it


Get more insights on this topic:  https://www.ukwebwire.com/south-korea-car-t-cell-therapy-market-to-gain-traction-owing-to-rising-prevalence-of-cancer/

 

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

What Are The Key Data Covered In This South Korea Car-T Cell Therapy Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the South Korea Car-T Cell Therapy's growth between 2024 and 2031.

:- Accurate calculation of the size of the South Korea Car-T Cell Therapy and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- South Korea Car-T Cell Therapy Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of South Korea Car-T Cell Therapy vendors

FAQ’s

Q.1 What are the main factors influencing the South Korea Car-T Cell Therapy?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top South Korea Car-T Cell Therapy companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the South Korea Car-T Cell Therapy’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

Comments

Post a Comment

Popular posts from this blog

Space Economy : Global Space Economy Enters New Phase of Growth and Innovation

Image
The Growing Global Space Economy As these new commercial applications and models emerge in fields like earth observation, communications, infrastructure development and utilization of space resources, the global space economy is expanding rapidly. Reports from leading analyst firms project significant growth rates over the coming decade, with an estimated total global space economy size exceeding a trillion dollars by 2040. Private capital investment in space has also grown 10-fold over the past decade to well over $5 billion in 2021 alone. As more commercial activity accelerates in low-Earth orbit and beyond, global cooperation will play a vital role in management of issues like orbital traffic, spectrum allocation and safety standards. International organizations like the United Nations are developing cooperation frameworks to ensure the responsible governance of these emerging space industries and exploration activities. Overall, the expanding range of commercial uses of space ...
Read more

Luxury Vegan Handbags: The Surge In Popularity Of High-End Vegan Handbags A New Trend In Sustainable Fashion

Image
  As consumer consciousness around sustainability and animal welfare grows, more luxury brands are introducing   vegan handbag   lines that are just as stylish and durable as traditional leather bags but without the environmental or ethical downsides. By using innovative materials derived from plants, these eco-friendly luxury bags allow fashionistas to feel good about what they carry. Pioneering brands like Matt & Nat, Will’s Vegan Store, and Veja are leading the way in offering luxury vegan styles that can rival even the most prestigious designer labels. Materials Of The Future Manufacturers are developing premium vegan materials that are indistinguishable from leather both in look and feel. Pineapple leather and mushroom leather, for example, are made from the waste fiber of pineapples and mycelium cells from mushrooms, respectively. These innovative materials have a luxurious texture, last for years, and biodegrade completely without harming the environment. Addit...
Read more

New Zealand Coconut Milk And Cream Gaining Global Recognition

Image
  As consumers become increasingly aware of potential health benefits and seek out plant-based alternatives to dairy, coconut milk and cream products from New Zealand have seen tremendous growth in popularity both domestically and overseas in recent years. New Zealand Coconut Milk and Cream has emerged as a major economic success story, with exports increasing over 300% in the past decade alone. Several factors have contributed to this surge in demand. Coconut milk and cream are praised for their high nutritional value as a plant milk alternative. They are naturally cholesterol-free, lower in calories than dairy milk, and contain important vitamins, minerals and healthy fats. Coconuts grow abundantly in tropical regions, and New Zealand's warm climate makes it ideal for coconut cultivation and processing. With its clean, green reputation, New Zealand Coconut Milk and Cream is seen as a trusted source for high quality coconut products. Rising Exports And An Expanding Domestic N...
Read more