From GlobeNewswire: 2025-02-20 13:18:00

The global market for breakthrough therapies is expected to grow from $150.6 billion in 2024 to $287.5 billion by 2029, with a 13.8% CAGR. The report analyzes the benefits and risks of Breakthrough Therapy Designation (BTD) and covers areas like cardiovascular, neurology, rare diseases, and oncology. It discusses the success and challenges of BTD and includes market analysis for various regions.

Regulators and the pharmaceutical industry are exploring ways to speed up the delivery of new medicines to patients. The BTD pathway in the U.S. and the PRIME pathway in Europe are fast-track options. The report details the opportunities and challenges of utilizing these routes and outlines success criteria.

Key factors driving the market include more drugs being designated as breakthrough therapies, faster approvals in Europe through schemes like PRIME, and the rising prevalence of serious conditions like cancer and heart disease. These factors contribute to the growing demand for new treatments, boosting the market for breakthrough therapies.

In 2023, AbbVie’s epcoritamab received Breakthrough Therapy Designation for treating follicular lymphoma, and in 2024, Merck’s sotatercept-csrk was approved for pulmonary arterial hypertension. The report addresses the market size, segments, dominant therapy in 2029 (oncology), and the largest market share region (North America).

Market leaders in breakthrough therapies include AbbVie, AstraZeneca, Bristol-Myers Squibb, and others. Related reports cover drug discovery technologies and advanced drug delivery systems, providing valuable insights for businesses to make informed decisions in the pharmaceutical industry.

BCC Research offers objective market research reports to help businesses navigate opportunities in the pharmaceutical industry. Contact [email protected] for more information or to purchase reports.



Read more at GlobeNewswire: Breakthrough Therapies: Transforming Market Dynamics and