Artificial T-cell Receptors Market - Futuristic Application of Therapeutics Expecting 44% CAGR During 2016-2023: Occams Business Research & Consulting Pvt. Ltd.
INDORE, India, June 14, 2017 /PRNewswire/ --
The growing number of chronic diseases such as cancer and cardiovascular disorders etc. are the key factors fostering growth in the global artificial T-cell receptors market. Increasing demand for personalized medicine for the treatment of such chronic disorders increases the adoption of artificial T-cell receptors. According to W.H.O., it is predicted that by 2030, 23.3 million people will be fatally affected by CVD (cardiovascular disease), CHD (coronary heart disease) and other heart diseases. Globally, CVD is considered to be the leading cause for many fatalities. Thus, the growing prevalence of cardiovascular diseases is contributing towards the growth in the global artificial T-cell receptors market. Furthermore, the increasing number of cancer patients across the globe is also boosting growth of the global artificial T-cell receptors market. According to World Cancer Research Fund International, it is estimated that cancer cases across the globe is expected to reach 24 million by the end of 2035, which was 14.1 million in 2012. According to National Cancer Institute, in 2016, lung cancer, breast cancer, bladder cancer, prostate cancer, kidney cancer, thyroid cancer, etc. are the most common types of cancer. Lung cancer is the most common cancer found across the globe. Around 13% of cancer cases are of lung cancer as per World Cancer Research Fund International in 2012, which is expected to increase by around 18% by the end of 2019. Hence, the growing incidences of chronic disorders such as cancer, cardiovascular disease and many others is fostering growth in the global artificial T-cell receptors market.
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North America held the largest market share in terms of revenue in 2016. The increasing number of cancer patients is one of the major factors that is attributing to the growth of the North American artificial T-cell receptors market. The increasing use of artificial T-cell receptors for the development of new therapy and drugs is increasing the use of artificial T-cell receptors in the treatment of cancer disorders. According to American Cancer Society, around 13% of all cancer diagnosed patients in the U.S. population is aged 20 and above in 2017. Moreover, it is estimated that out of 100,000, around 6 persons suffer from cancer every year. In 2016, around 1.6 million new cases of cancer were diagnosed in the United States (as per National Cancer Institute). According to National Cancer Institute, it is estimated that the national spending on cancer care is expected to reach to $156 billion by the end of 2020, which was $125 billion in 2010. Hence, the growing incidences of chronic disorders is driving growth in the North American artificial T-cell receptors market. Furthermore, the growing research and development funding for oncology/cancer in North America is also boosting growth of the market. According to National Cancer Institute, in 2017, United State Congress has granted budget of around $5.389 billion for FY 2017 to National Cancer Institute, which is an increase of around $174.6 million from the FY 2016 budget. Furthermore, the National Cancer Institute has also received a sum of $300 million for Beau Biden Cancer Moonshot in December 2016 by Century Cures Act. Hence, the increasing funding for research and development in oncology/cancer is the key factor that is attributing to the growth of the North America artificial T-cell receptors market.
Increasing immunological disorders is boosting growth in market
The growing number of immunological disorders are also boosting growth in the global artificial T-cell receptors market. The growing use of artificial T-cell receptors for the development of new therapy and drugs for the treatment of immunological disorders is contributing to the growth in the global market. The growing research spending across globe for the development of new therapies for treatment of immunological disorders is driving the growth in the global artificial T- Cell receptors market. During 2014-2015, in UK, Department of Health National Institute for Health Research allocated a sum of $955.3 million (GBP 740.7 million) for research in immune and inflammatory. Furthermore, Medical Research Council has funded around $44.10 million (34.2 million GBP) in immune research. Hence, the growing research investment by governments across the globe is boosting the growth of the global artificial T-cell receptors market.
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