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The psychedelic drug market is on the brink of extraordinary growth, projected to soar to $7.2 billion by 2029, reflecting a robust 55 per cent compound annual growth rate (CAGR). This ascent is propelled by favorable regulatory developments, including pioneering clinical trial guidelines from the FDA. billion in sales in 2029.
million by 2029. percent between 2022 and 2029. Other key influences helping the upstream bioprocessing market expand include drugdevelopment, antibody manufacturing, as well as a higher need for cell therapy research. Additionally, the research calculated that market is anticipated to undergo a CAGR of 6.85
One of the recent examples is Bayer’s announcement of a cooperation with Shanghai Pharmaceuticals China in November 2023 to set up its first Chinese lab for CGT and cancer drugdevelopment. According to GlobalData estimates, the global CGT market is projected to reach $80 billion by 2029.
In 2022, the FDA awarded VX-548 breakthrough therapy and fast-track designations for post-operative pain, and the drug is forecast to reach sales of $416m by 2029. However, 2017 saw the discontinuation of nabiximols from Phase III development in the US for cancer pain, due to lack of efficacy.
Antibody-drug conjugates (ADCs), such as datopotamab deruxtecan (Dato-DXd) and trastuzumab deruxtecan, have demonstrated compelling evidence of efficacy in oncology across numerous diseases in recent months.
However, tarlatamab, a bispecific T-cell engager (BiTE) developed by Amgen, recently demonstrated potentially registrational data at the European Society for Medical Oncology (ESMO) 2023 Congress from the Phase II DeLLphi-301 trial. The Phase II DeLLphi-301 trial focused on patients with SCLC undergoing two prior treatment regimens.
The goal of the rare pediatric disease PRV program is to incentivize drugdevelopment for rare pediatric diseases. 3433 the Give Kids a Chance Act, which reauthorized the voucher program through 2029. Earlier this month, the House Energy and Commerce Committee unanimously passed H.R.
billion in 2029 at a compound annual growth rate (CAGR) of 7.9 Technological advancement in the process spectroscopy market As a key part of drugdevelopment and drug formulation, the report highlighted that demand for process spectroscopy is being fuelling by the growing pharmaceutical industry. It will grow to $31.77
It is extremely difficult, if not impossible, to do the long-term planning and substantial fundraising required for drugdevelopment without knowing whether such an important and valuable incentive will be there. We heard and felt the anxiety from many of our clients about the uncertainty this caused.
Earlier in the week, it was reported that there was a bipartisan agreement on a bill that would have funded the government and extended the first sunset date for the rare pediatric disease priority review voucher program for nearly 5 years, until September 30, 2029.
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