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Rising Multiple Myeloma Cases Fuel Growth In The Abecma Market: Key Factor Driving The Growth In The Abecma Market
Abecma Market
What Is the Projected Growth of the Abecma Market?
In the last few years, the abecma market size has seen a high compound annual growth rate (HCAGR) of XX%. The projections suggest a growth from $XX million in 2024 to $XX million in 2025, translating to a compound annual growth rate (CAGR) of XX%. This growth during the historic period owes itself to factors like the approval of abecma for relapsed/refractory multiple myeloma, developments in car t-cell therapy, rising cases of multiple myeloma, its high effectiveness in treatment-resistant cases, and an increase in research and development investments.
The market size of abcema is projected to experience an XX (FCAGR) increase in the upcoming years, predicted to reach $XX million in 2029 with a compound annual growth rate (CAGR) of XX%. The projected growth during the forecast period is due to factors including the increasing incidence of multiple myeloma, broadening approved indications, advancements in personalized healthcare, worldwide market development, enhanced production and cost lowering. Key trends during the forecast period comprises of accelerated adoption in preceding treatment lines, geographical market growth, tech improvements in car t-cell therapy, strategies for combination therapy, precision and personalized medicine, and a heightened emphasis on relapsed/refractory multiple myeloma.
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What Are the Different Abecma Market Segments?
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 Are the Primary Drivers Shaping the Abecma Market?
The escalating incidence of multiple myeloma is anticipated to boost the growth of the abecma market. Multiple myeloma, a form of blood cancer that impacts plasma cells, a kind of white blood cell in bone marrow, has seen increasing prevalence due to an aging population, advancements in diagnostic methods, and heightened disease awareness. Abecma, a CAR T-cell therapy, serves as a treatment for multiple myeloma by using genetically altered immune cells to detect and eradicate cancerous plasma cells. This presents a unique treatment method for individuals with relapsed or refractory disease variations. For example, in January 2024, the American Cancer Society, a non-profit organization in the US devoted to the eradication of cancer, projected a total of 35,780 myeloma cases, compared to 34,470 in 2022. Therefore, the increasing occurrence of multiple myeloma catalyzes the growth of the abecma market.
Which Companies Are Leading in the Abecma Market?
Major companies operating in the abecma market include Bristol-Myers Squibb
What Are the Major Trends Shaping the Adbry/Adtralza Market?
The Abecma market is witnessing a significant thrust towards developing cutting-edge therapies like the chimeric antigen receptor T cell (CAR T) therapy to improve patient results, target particular types of cancer with higher efficacy, and broaden the treatment choices for those with recurrent or resistant multiple myeloma. CAR T therapy, an enhanced version of immunotherapy, is predominantly employed to treat specific cancer types such as leukemia and lymphoma. The technique comprises the genetic modification of a patient's T cells (a variant of white blood cells) to efficiently recognize and eradicate cancer cells. In March 2024, Bristol Myers Squibb, a pharmaceutical company based in the US, secured the European Commission's (EC) consent for Abecma (idecabtagene vicleucel; ide-cel), a CAR T-cell therapy formulated to treat adults with relapsed and refractory multiple myeloma. This endorsement particularly targets individuals who have been through at least two previous therapies, involving an immunomodulatory agent (IMiD), a proteasome inhibitor (PI), and an anti-CD38 antibody, and who have displayed disease progression post their last treatment.
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What Are the Top Revenue-Generating Geographies 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Abecma Market?
2. What is the CAGR expected in the Abecma Market?
3. What Are the Key Innovations Transforming the Abecma Industry?
4. Which Region Is Leading the Abecma Market?
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What industry-specific factors are fueling the growth of the 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,…
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