Growing Applications of Chimeric Antigen Receptor T-cell Therapy is anticipated to openup the new avanue for Immune Cell Engineering Market

The Immune Cell Engineering Market is estimated to be valued at US$ 2.82 Bn or Billion in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Immune cell engineering involves genetic engineering of immune cells such as T-cells, NK cells, and dendritic cells to modify their functions. These engineered immune cells have various therapeutic applications in cancer immunotherapy, treatment of infectious diseases and autoimmune disorders. Some key applications of immune cell engineering include chimeric antigen receptor T-cell therapy (CAR T-cell therapy), T-cell receptor therapy, tumor-infiltrating lymphocyte therapy and dendritic cell vaccines.

Market Dynamics:

Growing prevalence of cancer across the globe is a major factor augmenting growth of the immune cell engineering market. According to WHO, cancer burden rose to 19.3 million new cases and 10.0 million cancer deaths in 2020 worldwide. Furthermore, increasing R&D activities in CAR T-cell therapy and development of new immune cell engineering platforms are also expected to propel market growth over the forecast period. However, high costs associated with immune cell engineering therapies and complex manufacturing process are major challenges for market players.

Segment Analysis

The global immune cell engineering market is dominated by T-Cell engineering sub-segment. T-cells play a crucial role in the immune system by recognizing and eliminating cancerous, infected and unhealthy cells. T-Cell engineering facilitates genetically modifying T-cells with chimeric antigen receptor (CAR) to boost their ability to identify and attack specific cancer cells. CAR T-cell therapy is one of the most promising areas in cancer immunotherapy currently and is witnessing strong research and development which is driving the growth of T-cell engineering sub-segment.

PEST Analysis

Political: Governments across various countries are supporting research and development in cell and gene therapy through funding. They are formulating regulations to ensure patient safety during clinical trials of new immune cell therapy products.
Economic: The rising incidence of cancer and infectious diseases along with increasing healthcare spending is fueling the demand for immune cell engineering market. Moreover, growing biotechnology and pharmaceutical industry is also positively impacting the market growth.
Social: Increasing awareness regarding cell and gene therapy for treating various life-threatening diseases is driving more patients to opt for immunotherapy and stem cell treatments.
Technological: Advancements in genetic engineering techniques like CRISPR/Cas9 and development of automated cell therapy manufacturing platforms has enabled efficient engineering of immune cells at large scale with high viability and functionality which is boosting the market.

Key Takeaways

The Global Immune Cell Engineering Market Size was valued at US$ 2.82 Bn in 2023 and is expanding at a CAGR of 22.% from 2023 to 2030. Geographically, the North America region dominated the market in 2023 owing to presence of major market players, rising cancer prevalence and growing adoption of CAR T-cell therapies in the region.

Regional analysis

The Asia Pacific region is expected to witness fastest growth over the forecast period due to increasing healthcare expenditure, rising awareness about cell therapies, and growing research activities in countries like China, India and Japan. China dominated the APAC region owing to supporting government policies, presence of leading contract manufacturing organizations and emergence of regional biosimilar manufacturers.

Key players

Key players operating in the immune cell engineering market are Thermo Fisher Scientific, Merck KGaA, Danaher Corporation, Lonza Group, Miltenyi Biotec, Takara Bio Group, CellGenix GmbH, FUJIFILM Irvine Scientific, Agilent Technologies, Bio-Techne Corporation, Bio-Rad Laboratories, BD, Charles River Laboratories, Creative Bioarray, Sartorius AG, Novogene Corporation, AGC Biologics, Catalent, WuXi AppTec, ReachBio LLC. These players are focusing on expanding their cell therapy manufacturing facilities and capabilities through partnerships and acquisitions to strengthen their market presence.

 

Read More – https://www.newsanalyticspro.com/immune-cell-engineering-market-share-analysis-growth-and-demand-forecast/