What Has Been the Progress and Growth of the Abecma Market in Recent Years?
The abecma market has seen considerable growth due to a variety of factors.
• The market size for abecma, in recent times, has witnessed a XX (HCAGR). It is anticipated to expand from $XX million in 2024 to a staggering $XX million in 2025, growing at a compound annual growth rate (CAGR) of XX%.
This impressive growth during the historical period can be associated with the accreditation of abecma for relapsed/refractory multiple myeloma, the evolutionary changes in car t-cell therapy, the escalating occurrence of multiple myeloma, its high effectiveness in cases resistant to treatment, and the upsurge in investments for research and development.
What Can Be Expected from the Abecma Market in the Coming Years?
The abecma market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the abcema market size is projected to experience an XX (FCAGR) increase. This growth is expected to result in the market reaching a value of $XX million in 2029, with a compound annual growth rate (CAGR) of XX%.
The anticipated growth during this forecast period can be linked to a higher incidence of multiple myeloma, wider approved indications, advancements in personalized medicine, expansion of the global market, and enhancements in manufacturing and cost reduction. The forecast period is also likely to see trends like an upsurge in adoption in the initial treatment phases, geographical market expansion, technological developments in car t-cell therapy, combination therapy strategies, personalized and precision medicine, and a growing focus on relapsed/refractory multiple myeloma.
What Are the Critical Driver Fuelling The Abecma Market's Growth?
The increasing incidence of multiple myeloma is anticipated to fuel the expansion of the abecma market in the future. Multiple myeloma, a kind of blood cancer that impacts plasma cells found in bone marrow, is on the rise due to factors such as an aging demographic, enhanced diagnostic procedures, and heightened disease awareness. The CAR T-cell therapy, Abecma, effectively treats multiple myeloma by leveraging genetically altered immune cells to target and annihilate cancerous plasma cells, thereby presenting a fresh therapeutic approach for patients grappling with relapsed or refractory versions of the malady. For instance, the American Cancer Society, a not-for-profit organization from the US committed to eradicating cancer, projected in January 2024 that myeloma cases would increase to 35,780, up from 34,470 in 2022. As a result, the uptick in multiple myeloma incidence spurs the abecma market.
How Is The Abecma Market segmented?
The abecma market covered in this report is segmented –
1) By Indication: Multiple Myeloma, B-Cell Lymphoma (BCL), Acute Lymphoblastic Leukemia (ALL)
2) By End User: Adult, Geriatric
3) By Distribution Channel: Hospitals And clinics, Retail And Speciality Pharmacies, Online Pharmacies
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What New Trends Are Influencing The Abecma Market?
The abecma market is characterized by a key trend toward the development of innovative treatments such as chimeric antigen receptor T cell therapy (CAR T), with the aim of improving the outcomes for patients, targeting specific cancers more effectively, and broadening the range of therapeutic options for those suffering from relapsed or refractory multiple myeloma. One renowned method of highly advanced immunotherapy primarily uses CAR T to treat particular cancer types, like leukemia and lymphoma. This medical procedure involves genetically altering a patient's autonomous T cells (a variation of white blood cells) to perform better in recognizing and eradicating cancer cells. For example, in March 2024, the European Commission (EC) granted approval to Bristol Myers Squibb, a pharmaceutical company based in the US, for Abecma (idecabtagene vicleucel; ide-cel), a CAR T-cell therapy purposed to treat adult patients suffering from relapsed and refractory multiple myeloma. This approval is earmarked for patients who have undergone at least two previous therapies, encompassing an immunomodulatory agent (IMiD), a proteasome inhibitor (PI), and an anti-CD38 antibody, and who have displayed disease advancement post their last treatment.
Who Are the Key Players In The Abecma Market?
Major companies operating in the abecma market include:
• Bristol-Myers Squibb
What Is The Most Dominant Region In The Abecma Market?
North America was the largest region in the abecma market in 2024. The regions covered in the abecma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
