Cell Therapy Is Fastest Growing Segment Fueling The Growth Of Altapharma Market

Altapharma Market


The global Altapharma Market is estimated to be valued at US$ 179.19 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

 The Altapharma Market consists of advanced and innovative drugs used to treat various diseases. Cell therapy products offer personalized and targeted treatment for certain chronic and life-threatening diseases like cancer and autoimmune disorders.

Market Key Trends:

 One of the major trends in the Altapharma Market is the rising demand for cell therapy products. Cell therapy utilizes live whole cells or components of cells to prevent, treat or cure a disease. It harnesses the power of the body's cells to fight against diseases by repairing damaged tissues and organs. Various cell therapy products like stem cell therapies, tumor-infiltrating lymphocytes and chimeric antigen receptor T-cell therapies are being developed for diseases where conventional treatment options have limitations. These advanced cell therapy products offer higher efficacy and fewer side effects compared to traditional drugs.

Segment Analysis

The global Altapharma market is dominated by therapeutic biologics segment which accounted for over 40% of the total market share in 2022. Therapeutic biologics are complex medicines derived from living cell cultures or organisms, which are used for treating various chronic diseases such as cancer, autoimmune disorders among others. Their specificity, high target affinity and fewer side effects have increased their adoption over small molecule drugs in recent years.

Key Takeaways

The Global Altapharma Market Demand is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing prevalence of chronic diseases such as cancer, diabetes and cardiovascular diseases.

Regional analysis

North America dominated the global Altapharma market in 2022 and is expected to remain the largest market during the forecast period. This is attributed to factors such rising healthcare expenditure, presence of well-established pharmaceutical industry and growing adoption of biologics in the region. Asia Pacific is anticipated to grow at the highest CAGR during the forecast period owing to increasing healthcare spending, growing geriatric population and improving access to healthcare in emerging countries of the region.

Key players

Key players operating in the Altapharma market are Pfizer, Roche, Johnson & Johnson , Novartis, Merck & Co, GlaxoSmithKline, Sanofi, AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer , Novo Nordisk, Allergan, Gilead Sciences, Boehringer Ingelheim, Takeda Pharmaceutical, Biogen. Pfizer leads the market with its wide range of blockbuster products to treat chronic diseases.

Rad More:

https://www.marketwebjournal.com/altapharma-market-forecast-demand-and-size/

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