Natural Killer (NK) Cell Therapeutics Market to Reach $5.09 Billion Globally by 2026, at 17.4% CAGR
Pune, Maharashtra, India, February 19 2021 (Wiredrelease) Allied Analytics –: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 drive the growth of the global NK cell therapeutics market.
According to the report published by Allied Market Research, the global NK cell therapeutics market held nearly $1.40 billion in 2018, and is estimated to reach $5.09 billion by 2026, growing at a CAGR of 17.4% from 2019 to 2026. The report offers an extensive analysis of drivers & opportunities, changing market dynamics, competitive landscape, major segments, and market size & forecasts.
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Surge in usage of NK cells for treating infections & liver diseases, increase in awareness about various immunotherapies, and rise in R&D activities to develop bi-specific antibody to engage NK cells for destroying tumor cells drive the growth of the global NK cell therapeutics market. However, poor specificity, high costs related to the therapies, and adverse side effects hinder the growth of the market. However, considerable rise in R&D activities for developing immunotherapy in developing nations would create lucrative opportunities in coming years.
On the basis of therapeutics, the NK cell-directed antibodies segment held the major market share, accounting for nearly three-fifths of the total share in 2018, and is expected to dominate during the forecast period. Surge in utilization of monoclonal antibodies for treating various diseases and ease in availability drive the growth. On the other hand, the NK cell therapies segment is estimated to grow at the largest CAGR of 17.6% from 2019 to 2026. This is due to comprehensive research activities taking place to treat cancer.
Based on application, the gastrointestinal diseases segment is expected to register the highest growth rate with a CAGR of 19.3% from 2019 to 2026. This is due to the surge in growth of geriatric population and advanced infrastructure in healthcare facilities in the province. However, the cancer segment held more than three-fourths of the total revenue in 2018, and is estimated to maintain its dominance by 2026. This is due to significant rise in the prevalence of cancer across the world.
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Based on region, North America accounted for the major share in 2018, contributing nearly half of the total share. This is due to surge in incidence of cancer in the region. Contrarily, Asia-Pacific is expected to maintain its fastest growth rate with a CAGR of 19.5% during the forecast period.
Frontrunners in the industry-
The key market players analyzed in the report are Affimed N.V., Chipscreen Biosciences, Ltd., Altor BioScience Corporation, Innate Pharma S.A., NKT Therapeutics, Inc., NantKwest Inc., Sorrento Therapeutics Inc., Takeda Pharmaceutical Company Limited, Bristol-Myers Squibb, and others.
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