South Korea Car-t Cell Therapy Market Driven By Strong Government Support

By Author: colin
Total Articles: 197
Comment this article

The South Korea car-T cell therapy market is engaged in developing innovative cell immunotherapies to treat various types of cancer such as leukemia, lymphoma and multiple myeloma. Car-T cell therapies are manufactured by collecting a patient's own T cells, modifying them using genes to help them recognize cancer cells, and infusing the cells back into the patient. In recent years, several global pharmaceutical companies have begun developing car-T cell therapies that have demonstrated immense potential in achieving complete response rates of up to 90% for some blood cancers. Favorable government policies supporting cell therapy research and rising funding from public and private players have emerged as key growth drivers for this market.
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. These companies are actively engaged in conducting clinical trials to expand the application of car-T cell therapies for solid tumors. Secondly, growing demand for effective cancer treatment options is expected to drive the adoption of car-T cell therapies in South Korea. Recent approval of products like Kymriah and Yescarta have enhanced patient access to these novel therapies. Thirdly, with increasing R&D investments, South Korean companies are likely to commercialize affordable car-T cell therapies and expand their global footprint beyond Asia Pacific region over the forecast period.
Market Drivers
Strong government support in the form of funding, fast-track approval pathways, and favorable healthcare reimbursement policies are some of the key drivers responsible for the growth of South Korea car-T cell therapy market. The government aims to position the country as a global leader in cell therapy commercialization through initiatives like the Korea Program of Advancement in Next Generation Cell Therapy. This is expected to attract more investments from global pharmaceutical giants to undertake late-stage clinical trials in South Korea.
Geopolitical Impact On South Korean Car-T Cell Therapy Market Growth
The current geopolitical tensions between North Korea, South Korea and its allies is impacting the growth of South Korean Car-T cell therapy market. The recurring military drills and missile launches by North Korea is fuelling the geopolitical instability in the region. This is causing uncertainties among patients and healthcare providers, negatively impacting the market growth. Researchers and companies are facing challenges in conducting clinical trials and new product launches due to the risks involved. However, governments and private players are taking initiatives to ensure safety of patients and healthcare infrastructure. They are investing in bunkers and safe facilities to continue the treatments. If the geopolitical issues are resolved through diplomatic talks, it will boost investments and foster collaborations, driving the market growth. Players need to focus on rural and remote areas with improved infrastructure to offset current challenges.
Geographical Regions With Highest Market Value
The South Korean Car-T cell therapy market is concentrated majorly in Seoul, which is the capital and largest city of South Korea. It is the economic and political center of the country with over 25 million people. The city has world-class healthcare infrastructure including prominent hospitals, research centers and laboratories. Several pharmaceutical companies and contract manufacturing organizations are also based here, facilitating easier access to treatments. The high disposable income and healthcare spending of the population further boosts the market value in this region. Other significant regions include Busan, Incheon, Daegu and Gyeonggi province, which are major industrial and economic hubs with strong medical infrastructure to support the market.
Fastest Growing Geographical Region
The Jeju province in South Korea is expected to exhibit fastest growth in the Car-T cell therapy market during the forecast period. Though relatively smaller in size, the province received considerable investments from government and private bodies in recent years to promote medical tourism. It has emerged as a leading stem cell research and treatment hub in the country. Further, the provincial government is undertaking several initiatives like establishing offshore biotech clusters to attract biopharma companies. The growing healthcare infrastructure, high quality of living standards and increasing medical expenditures are fueling the market growth in Jeju province. With continuous support, it is likely to become one of the important markets for advanced therapies including Car-T cell treatments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Get more insights on this topic:https://heyjinni.com/read-blog/119268

About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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?
Q.2 Which companies are the major sources in this industry?
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?
Q.5 Which businesses serve as the South Korea Car-T Cell Therapy’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?