Breakthrough Therapy (BT) Designation Market Valuable Growth Prospects, Top Players, Key Country Analysis, Trends and Forecast till 2026
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 2019-2026. Increasing demand for cancer therapies is driving the growth of this market.
Breakthrough therapy (BT) designation market report contains a specific study of the Medical Devices industry which defines what the market definition, classifications, applications, engagements, and global industry trends are. The market drivers and restraints have also been described using SWOT analysis. The report demonstrates important product developments and tracks recent acquisitions, mergers and research in the Medical Devices industry by the chief market players. The global breakthrough therapy (BT) designation market report consists of all the company profiles of the major players and brands in the market place. This market report not only gives an advantage to develop your business but also helps you outshine the competition.
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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.
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 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.
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.
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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
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
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