Natural Killer (NK) Cell Therapeutics Market to Reach $5.09 Bn, Globally, by 2026, at 17.4% CAGR: Allied Market Research
PORTLAND, Oregon, July 29, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Natural Killer Cell Therapeutics Market by Therapeutics, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2026." The report provides a detailed analysis of the drivers & opportunities, changing market trends, competitive market landscape, and market size & estimates. According to the report, the global NK Cell Therapeutics market was projected at $1.40 billion in 2018 and is expected to hit $5.09 billion by 2026, registering a CAGR of 17.4% during 2019-2026.
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Rise in use of NK cells for the treatment of infections & liver diseases, surge in awareness among the population regarding various immunotherapies, and increase in R&D for the development of bi-specific antibody for engaging NK cells to eliminate tumor cells propel the growth of the global NK cell therapeutics market. On the other hand, lack of specificity & poor in-vivo survival of the cells, higher costs associated with the therapies, and their adverse side effects restrain the growth of the market to some extent. However, significant surge in R&D activities toward development of immunotherapy in developing economies is anticipated to create lucrative opportunities in the near future.
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The NK cell-directed antibodies segment to lead the trail till 2026
Based on therapeutics, the NK cell-directed antibodies segment accounted for nearly three-fifths of the total market share in 2018 and is anticipated to rule the roost during the estimated period. Increase in usage of monoclonal antibodies for the treatment of various diseases and its easy availability spur the growth. At the same time, the NK cell therapies segment would grow at the fastest CAGR of 17.6% till 2026. Extensive research in developing NK cell therapeutics to treat cancer is the major factor driving the growth.
The cancer segment generated the highest growth in 2019-
Based on application, the cancer segment contributed to more than three-fourths of the total market revenue in 2018 and is expected to dominate through 2019-2026. This is attributed to significant increase in the prevalence of cancer in this region. The gastrointestinal diseases segment, on the other hand, is projected to grow at the fastest CAGR of 19.3% during the forecast period. This is attributed to the rising growth in geriatric population, and improvement in healthcare facilities in the province.
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North America to be dominant by 2026-
Based on geography, North America held the major share in 2018, accounting for nearly half of the total market. Surge in the incidence of cancer in the region has driven the growth. At the same time, the Asia-Pacific region is predicted to showcase the fastest CAGR of 19.5% throughout the study period.
Frontrunners in the industry-
The key market players analyzed in the report include Affimed N.V., Altor BioScience Corporation, Chipscreen Biosciences, Ltd., NKT Therapeutics, Inc., Innate Pharma S.A., Sorrento Therapeutics Inc., NantKwest Inc., Bristol-Myers Squibb, Takeda Pharmaceutical Company Limited, and others. Incorporating a number of high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to heighten their stand in the industry.
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