Breakthrough Therapy (BT) Designation Market – Industry Trends - Forecast to 2026 with key market like Hoffmann-La Roche Ltd, AbbVie Inc., Novartis AG, Janssen Global Services, LLC, Eli Lilly and Company, Gilead Sciences, Inc., Sanofi, ACADIA Pharmaceutic
Breakthrough Therapy (BT) Designation Market By Application (Oncology, Infectious Diseases, Rare Diseases, Autoimmune Diseases, Pulmonary Diseases, Neurological Disorders, Others), End- User (Hospital, Clinic, Research Institute, Laboratories), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends & Forecast to 2026
Market Analysis: Breakthrough Therapy (BT) Designation Market
Global Breakthrough Therapy (BT) Designation Market is expected to rise from its initial estimated value of USD 57.56 billion to an estimated value of USD 167.10 billion by 2026, registering a CAGR of 14.25% in the forecast period of 2021-2026. Increasing demand for cancer therapies is driving the growth of this market.
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Market Definition: Global Breakthrough Therapy (BT) Designation Market
Breakthrough therapy is the designation given by the US Food and Drug Administration to a drug if it is able to treat any serious and life- threatening disease. Its main motive is that to make sure that drug is of high- quality and can treat a particular disease. Rising health awareness among consumer is major factor fueling the growth of this market.
Market Drivers
Increasing demand for orphan drugs among consumer is driving the growth of this market.
Increasing adoption of BT status in molecules is driving the market.
Market Restraints
Expensive cost of the BT drug is restraining the growth of this market.
Availability of generics is restraining the market growth.
Segmentation: Global Breakthrough Therapy (BT) Designation Market
By Application
· Oncology
· Infectious Diseases
· Rare Diseases
· Autoimmune Diseases
· Pulmonary Diseases
· Neurological Disorders
· Others
By End- User
· Hospital
· Clinic
· Research Institute
· Laboratories
By Geography
· North America
· uS.
· Canada
· Mexico
· South America
· Brazil
· Argentina
· Rest of South America
· Europe
· Germany
· France
· United Kingdom
· Italy
· Spain
· Russia
· Turkey
· Belgium
· Netherlands
· Switzerland
· Rest of Europe
· Asia-Pacific
· Japan
· China
· South Korea
· India
· Australia
· Singapore
· Thailand
· Malaysia
· Indonesia
· Philippines
· Rest of Asia Pacific
· Middle East & Africa
· South Africa
· Egypt
· Saudi Arabia
· United Arab Emirates
· Israel
· Rest of Middle East & Africa
Key Developments in the Market:
In January 2015, Lucentis has got dsignation from US Food and Drug Administration for their Breakthrough Therapy (BT) designation which is specially designed for the diabetic patients. FDA gave them approval on the basis of result of RISE and RIDE phase 3 trials.
In April 2015, DBV Technologies announced that there Viaskin Peanut patch has received the Breakthrough Therapy” (BT) designation from the US Food and Drug Administration (FDA). This Viaksin targets the antigen-presenting cells so that they can directly apply superficial layers of the skin.
Competitive Analysis: Global Breakthrough Therapy (BT) Designation Market
Global breakthrough therapy (BT) designation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of breakthrough therapy (BT) designation market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Breakthrough Therapy (BT) Designation Market
Few of the major competitors currently working in the breakthrough therapy (BT) designation market are F. Hoffmann-La Roche Ltd, AbbVie Inc., Novartis AG, Janssen Global Services, LLC, Eli Lilly and Company, Gilead Sciences, Inc., Sanofi, ACADIA Pharmaceuticals Inc., Boehringer Ingelheim International GmbH, Amgen Inc, AstraZeneca, GlaxoSmithKline plc., Vertex Pharmaceuticals Incorporated, Alexion, Merck KGaA, Jazz Pharmaceuticals, Inc., Exelixis, Inc., Takeda Pharmaceutical Company Limited.
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Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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