Report Highlights
The global market for breakthrough therapy drugs was valued at $133.3 billion in 2023. This market is expected to grow from $150.6 billion in 2024 to $287.5 billion by 2029, at a compound annual growth rate (CAGR) of 13.8% from 2024 to 2029.
Report Includes
- 26 data tables and 49 additional tables
- An overview of the global market dynamics and investment opportunities for breakthrough therapy designation (BTD) drugs
- Analyses of the global market trends, with sales data for 2021-2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation and forecast the market size for breakthrough therapies based on type, and geographical region
- Discussion of emerging technologies and developments and various macroeconomic factors affecting the breakthrough therapies market
- Review of patent data and new developments regarding various categories and sub-categories of breakthrough therapies
- A discussion on ESG challenges and practices of the industry
- Assessment of the vendor landscape, including the market shares of leading companies, their product portfolios and financial overviews
- Information on recent mergers, acquisitions, expansions, collaborations, investments, divestments, product launches, and other strategic developments
- Profiles of the leading market vendors, including F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bristol-Myers Squibb Co., Novartis AG and AstraZeneca
Report Scope
This report examines the potential risks and benefits of receiving breakthrough therapy designation (BTD), compares and contrasts fast-track drug development approaches (logistics, criteria and implications), and highlights the opportunities and challenges of creating breakthrough therapies. Cardiovascular, central nervous systems and neurology, rare diseases, oncology and other diseases are among the therapy areas in which this report analyzes BTD. It also examines leading companies, approved and pending products, and product revenues. It examines BTD’s achievements and shortcomings and discusses the tactics organizations use to optimize BTD’s competitive edge.
To provide an in-depth understanding of the market, this report also includes profiles of market participants, the competitive landscape, key competitors and respective market share.
The market in this report is divided into four regions: North America, Europe, Asia-Pacific and Rest of the World (RoW). For market estimates, data has been provided for 2023 as the base year, with forecasts for 2024 through 2029.
Report Synopsis
| Report Metrics | Details | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||
| Forecast period considered | 2024-2029 | ||||||||||
| Base year market size | $133.3 Billion | ||||||||||
| Market size forecast | $287.5 Billion | ||||||||||
| Growth rate | CAGR of 13.8% from 2024 to 2029 | ||||||||||
| Units considered | $ Millions | ||||||||||
| Segments covered | Therapy and Region | ||||||||||
| Regions covered | North America, Europe, Asia-Pacific and Rest of the World (RoW) | ||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Increasing number of drugs gaining breakthrough status.
- Expedited approval process adopted in the Europe.
- Increasing prevalence of life-threatening conditions.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Highlights
The global market for breakthrough therapy designation drugs should reach $99.2 billion by 2022 from $48.8 billion in 2017 at a compound annual growth rate (CAGR) of 15.2%, from 2017 to 2022.
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