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Abecma Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Abecma Market
The surge in the incidence of multiple myeloma is predicted to boost the expansion of the abecma market in the future. Multiple myeloma, a blood cancer variant, impacts plasma cells that are a particular type of white blood cell present in the bone marrow. The growing incidence of multiple myeloma can be attributed to factors like the growing elderly population, advancements in diagnostic methods, and heightened awareness about the ailment. Abecma, a CAR T-cell therapy, is advantageous in addressing multiple myeloma as it employs genetically adjusted immune cells to identify and eliminate cancerous plasma cells, thereby providing a unique solution for patients with relapsed or refractory types of the condition. For example, in January 2024, as stated by the American Cancer Society, a non-profit organization from the United States committed to eradicating cancer, the projected myeloma cases were 35,780, in contrast to the 34,470 cases in 2022. Hence, the surge in the incidence of multiple myeloma fuels the abecma market.
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What Is the projected market size and growth rate for the abecma market?
Recently, the abecma market size has recorded a XX (HCAGR). The market is projected to escalate from a value of $XX million in 2024 to $XX million in 2025, denoting a compound annual growth rate (CAGR) of XX%. The notable growth during the historic timeline is a result of the approval of abecma for dealing with relapsed/refractory multiple myeloma, advancements seen in car t-cell therapy, an increasing prevalence of multiple myeloma, its high efficiency in treating resistant cases, as well as enhanced research and development investments.
In the coming years, the abcema market size is projected to experience an XX (FCAGR) growth. By 2029, it's expected to expand to $XX million, with a compound annual growth rate (CAGR) of XX%. The growth during the forecast period can be attributed to factors such as the rising instances of multiple myeloma, growing approved indications, advancements in personalized medicine, worldwide market extension, enhanced manufacturing, and cost reduction. The forecast period will witness major trends like increasing early treatment adoption, geographical market expansion, advanced technology in car t-cell therapy, strategy combinations for therapy, precision and personalized medicine, and a heightened focus on multiple myeloma relapse/refractory.
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What new trends are reshaping the abecma market and its opportunities?
Notable progressions in the abecma market are geared towards the innovation of advanced treatments like chimeric antigen receptor T cell therapy (CAR T), aiming to amplify patient results, specifically target varied forms of cancer, and diversify the available treatment options for those with recurrent or resistant multiple myeloma. The CAR T is a sophisticated immunotherapy primarily utilized for certain cancer varieties, including leukemia and lymphoma. It operates on the premise of genetically modifying a patient's own T cells (a class of white blood cells) to more effectively identify and eliminate cancer cells. For example, in March 2024, Bristol Myers Squibb, a pharmaceutical establishment based in the US, gained the endorsement of the European Commission (EC) for their Abecma (idecabtagene vicleucel; ide-cel), a CAR T-cell therapy created for the treatment of adult patients experiencing relapsed and refractory multiple myeloma. This exclusive approval is for patients who have been treated with at least two previous therapies such as an immunomodulatory agent (IMiD), a proteasome inhibitor (PI), and an anti-CD38 antibody and have demonstrated disease progression post their last treatment.
What major market segments define the scope and growth of the abecma market?
The abecmamarket 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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Which region dominates 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.
Which key market leaders are driving the abecma industry growth?
Major companies operating in the abecma market include Bristol-Myers Squibb
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What Is Covered In The Abecma Global Market Report?
•Market Size Forecast: Examine the abecma market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the abecma market for a structured understanding.
•Key Players Overview: Analyze major players in the abecma market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the abecma market.
•Segment Contributions: Evaluate how different segments drive overall growth in the abecma market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the abecma market.
•Industry Challenges: Identify potential risks and obstacles affecting the abecma market.
•Competitive Landscape: Review strategic developments in the abecma market, including expansions, agreements, and new product launches.
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