Global Breakthrough Therapy (BT) Designation Market to Reach $176.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Breakthrough Therapy (BT) Designation estimated at US$73 Billion in the year 2020, is projected to reach a revised size of US$176.1 Billion by 2027, growing at a CAGR of 13.4% over the analysis period 2020-2027. Infectious Diseases, one of the segments analyzed in the report, is projected to record a 12.2% CAGR and reach US$50.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Oncology segment is readjusted to a revised 14.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $21.5 Billion, While China is Forecast to Grow at 13% CAGR
The Breakthrough Therapy (BT) Designation market in the U.S. is estimated at US$21.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.9 Billion by the year 2027 trailing a CAGR of 13% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.7% and 11.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
Rare Diseases Segment to Record 15.4% CAGR
In the global Rare Diseases segment, USA, Canada, Japan, China and Europe will drive the 15.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.3 Billion in the year 2020 will reach a projected size of US$30.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21.1 Billion by the year 2027.
Select Competitors (Total 42 Featured):
Amid the COVID-19 crisis, the global market for Breakthrough Therapy (BT) Designation estimated at US$73 Billion in the year 2020, is projected to reach a revised size of US$176.1 Billion by 2027, growing at a CAGR of 13.4% over the analysis period 2020-2027. Infectious Diseases, one of the segments analyzed in the report, is projected to record a 12.2% CAGR and reach US$50.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Oncology segment is readjusted to a revised 14.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $21.5 Billion, While China is Forecast to Grow at 13% CAGR
The Breakthrough Therapy (BT) Designation market in the U.S. is estimated at US$21.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.9 Billion by the year 2027 trailing a CAGR of 13% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.7% and 11.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
Rare Diseases Segment to Record 15.4% CAGR
In the global Rare Diseases segment, USA, Canada, Japan, China and Europe will drive the 15.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.3 Billion in the year 2020 will reach a projected size of US$30.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21.1 Billion by the year 2027.
Select Competitors (Total 42 Featured):
- Abbvie
- Acadia
- Alexion
- Amgen
- AstraZeneca
- BMS
- Boehringer Ingelheim
- Eisai
- Eli Lilly
- Exelixis
Frequently Asked Questions about the Global Market for Breakthrough Therapy (BT) Designation
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I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS
1. MARKET OVERVIEW
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
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A selection of companies mentioned in this report includes:
- Abbvie
- Acadia
- Alexion
- Amgen
- AstraZeneca
- BMS
- Boehringer Ingelheim
- Eisai
- Eli Lilly
- Exelixis
Note: Product cover images may vary from those shown
