Recent research conducted by DataM Intelligence shows the global CAR T-cell therapy market for certain cancers is expected to reach $11.5 billion by 2031, growing at a CAGR of 24.3% during its forecast period.
Further, Nova One Advisor says the market for CAR T-cell therapies across a broad range of cancers is projected to be valued at $35.1 billion by 2033, in the US alone. Globally, the firm projects the market to reach $127.5 billion by 2033, with a 30.5% CAGR through its forecast period.
The DataM report, which is 176 pages in full, says, “Increasing research and development is generating next-generation CAR T treatments, such as those that use innovative engineering methods and target several antigens. In concern with a variety of cancers, the major developments increase therapy options and improve the effectiveness of Car T therapies.”
Regarding the DataM report, Peter Choo, Chairman of CytoMed Therapeutics (NASDAQ: GDTC) said, “Indeed, new CAR T treatments, like the next generation allogenic off-the-shelf CAR-Gamma Delta T Cell Therapy we’ve developed and have recently begun our first Phase I in-human trial with, are specifically designed to increase not only therapy options, but to allow for both solid and blood cancer targeting; rather than the majority of CAR T therapies which have traditionally only targeted hematologic cancers.”
While CAR T-cell treatments have already shown to be quite promising, DataM notes many patients cannot afford CAR T-cell therapy, due to its time-consuming manufacturing process and expensive cost, which frequently exceeds several hundred thousand dollars per patient.
This is where Chairman Peter Choo believes CytoMed’s technology could soon offer an advantage. The company is developing its patent-pending technology into gamma delta T cell and natural killer (NK) cell-based Immunotherapeutics as an “off-the-shelf” therapeutic.
Mr. Choo explains, “Capitalizing on Southeast Asia’s low cost infrastructure and by developing our technology as an off-the-shelf therapeutic, we aim to bring the costs of CAR T-cell therapies down significantly, opening life-saving treatment to a much larger patient pool.”
Coincidentally, DataM Intelligence says the fastest growing region for this high CAGR market is Asia, where CytoMed is located.
To learn more about CytoMed’s Phase 1 clinical trial, visit HERE
Or for access the DataM Intelligence report, visit HERE
Or for access to the Nova 1 Advisor report, visit HERE
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