by The South Korea car-T cell therapy market is comprised of innovative cell-based immunotherapies that utilize patient’s own T cells to target and kill cancer cells. Car-T cell therapies are engineered to express chimeric antigen receptors (CARs) that recognize specific proteins on the surface of cancer cells and then activate the T cells to eliminate cancer. These personalized therapies offer a paradigm shift from conventional treatment options and hold promise to treat blood cancers that have proven difficult to manage.
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.
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. Growing incidence of blood cancer such as leukemia and lymphoma has fueled the demand for effective treatment options like car-T cell therapies in South Korea. Furthermore, increasing investments by biopharma companies and clinical validations are supporting the adoption of car-T cell therapies.
South Korea is witnessing a rise in adoption of car-T cell therapies due to growing demand for personalized treatment of cancer. Furthermore, increasing awareness about novel cell therapies and supportive regulatory environment is aiding their clinical development and availability. Major players are also exploring opportunities in South Korea to expand geographical presence.
Market Key Trends
One of the key trends in the South Korea car-T cell therapy market is the shift towards personalized medicine. Treatment tailored to individual patient’s genetic makeup offers higher efficacy and safety compared to conventional one-size-fits-all therapies. Furthermore, technology advancements are enabling larger scale production of car-T cells at lower costs. This is expected to increase the accessibility of these therapies in the coming years.
Porter’s Analysis
Threat of new entrants: High capital requirement and specialized expertise needed to commercialize therapies are barriers.
Bargaining power of buyers: Patients with certain cancers have limited treatment options increasing their dependence on specialized therapies.
Bargaining power of suppliers: Supply of raw materials and cell manufacturing capacity can influence the cost of therapies.
Threat of new substitutes: New immunotherapies pose a threat but have limitations compared to personalized cell therapies.
Competitive rivalry: Companies compete by focusing on specific cancer types or manufacturing capabilities.
Geographical Regions
South Korea accounts for majority of the CAR-T cell therapy value in the region currently. The presence of leading pharmaceutical companies investing in clinical research and product launches is driving the high adoption.
The fastest growing region for CAR-T cell therapy market is expected to be Southeast Asia. Increasing healthcare investments, presence of contract manufacturing facilities, and rising cancer incidence are factors expected to spur the demand from countries like Singapore, Indonesia and Thailand over the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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?
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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?
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