Pipeline Programs
CGT Companies Tracked
Manufacturing Facilities
The U.S. Wegovy market was valued at approximately USD 1.7 billion in 2025 and is projected to reach USD 10.70 billion by 2035, growing at a CAGR of 20.2% from 2026 to 2035. Novo Nordisk's Wegovy is expanding through multiple formulations, including injectable Wegovy, oral Wegovy and Wegovy HD, while cardiovascular risk reduction and MASH indications broaden its addressable patient population. The competitive landscape includes Eli Lilly, Pfizer, Amgen, Viking Therapeutics and Structure Therapeutics.
| Metric | Value |
| Market size, 2025 | USD 1.70 billion |
| Market size, 2026 | USD 2.04 billion |
| Forecast, 2035 | USD 10.70 billion |
| CAGR, 2026–2035 | 20.2% |
| Largest formulation, 2025 | Injectable Wegovy |
| Injectable share | 88% |
| Oral Wegovy share | 12% |
| Largest indication | Chronic weight management |
| Largest payer | Commercial insurance |
| Largest distribution channel | Retail pharmacies |
| Key competitor | Eli Lilly |
The U.S. cell and gene therapy multiple myeloma refers to advanced therapies targeting the root cause of aggressive blood cancer across the U.S. They help in correction of genetic abnormalities or promote the immune system to target cancer cells. They include autologous and allogeneic CAR-T cell therapy, CAR-NK cell therapy, and other engineered cellular therapies. They help in targeting BCMA, GPRC5D, and other plasma-cell antigens. Moreover, the report also covers CAR-T products, their manufacturing capacity buildouts, and next-generation pipeline competition across the U.S.
As the market research analyst, I interpret that the infographic stat panel covers CARVYKTI's second-line approval metrics. CARVYKTI received its FDA second-line approval on April 5, 2024, increasing the eligible patient population by approximately 3x, where the new minimum treatment history requiring 1 prior line. Additionally, BMS's ABECMA also received earlier-line approval on the same day.
Key Insight:
In the largest incremental patient population, which was unlocked by either company's 2024 label expansion, CARVYKTI captured first-mover advantage by securing approval of one full treatment line ahead of ABECMA.
The given bar chart illustrates CARVYKTI quarterly net trade sales, from Q1 2023 to Q1 2025. In Q1 2023, CARVYKTI net trade sales were noted to be $72 million, which increased to $117 million in Q2 2023, while in Q1 2025 it reached $369 million.
Key Insight:
The growth of over fivefold in quarterly sales within two years, including both a pre- and post-second-line-approval period, indicates that CARVYKTI's growth is driven by genuine expanding demand and is not merely a one-time step change from the label expansion alone.
Source: Legend Biotech Corporation, SEC Form 6-K, Q1 2025 Financial Results, May 13, 2025
As per the analysis conducted, the horizontal bar chart compares CARVYKTI and ABECMA late-line market share. CARVYKTI recorded approximately 80% of late-line market share at dual-therapy centres, while nearly 20% share was held by ABECMA.
Key Insight:
Despite ABECMA's one-year first-mover advantage in the original 2021 approval, CARVYKTI continued the decisive competitive dominance in head-to-head prescribing, which was confirmed by a Legend Biotech executive disclosing this 80% figure on a company conference call.
Based on our research, the infographic stat panel focuses on CARVYKTI cumulative patient treatment metrics. Originally approved by the FDA in February 2022, CARVYKTI recorded a milestone in Legend Biotech's earnings in Q1 2025, with a cash position of $1.0 billion, providing runway to Q2 2026. Moreover, CARVYKTI has clinically and commercially treated more than 6,000 patients to date.
Key Insight:
Even with the growing company-wide profitability, continuous financial capacity to fund manufacturing expansion and pipeline investment was recorded by Legend Biotech through this $1.0 billion cash position, which was disclosed alongside the patient-treatment milestone.
Source: Legend Biotech Corporation, SEC Form 6-K, Q1 2025 Financial Results, May 13, 2025.
The above-mentioned infographic stat panel encompasses Belgium Tech Lane manufacturing facility metrics. The Ghent, Belgium “Tech Lane” facility, doubling global CARVYKTI supply, secured an investment of $150 million whose clinical production initiated in Q1 2025 and commercial production approval targeted for late 2025.
Key Insight:
The investment in the Belgium facility reflects that J&J and Legend prioritize supply-side capacity over near-term competitive positioning concerns, which is a signal of confidence in sustained long-term demand, maintaining their dominance.
According to the information gathered by Aman, the infographic stat-panel highlights Novartis contract manufacturing agreement metrics. Novartis, the contract manufacturing partner, offered its manufacturing site in Morris Plains, New Jersey for both commercial and clinical supply till 2029.
Key Insight:
The CARVYKTI contract production is simultaneously being manufactured by Novartis with its own competing cell therapies supporting the rival's commercial product through this agreement, involving capacity constraints to override normal competitive reluctance.
Based on the survey conducted, the bar chart reflects CARVYKTI FY2023 actual sales vs. J&J's peak sales target. FY2023 reported $500 million in CARVYKTI annual sales, while peak sales (J&J target) were noted to be more than $5 billion.
Key Insight:
One of the most ambitious growth targets disclosed for any single cell therapy product is provided by J&J’s publicly stated $5 billion+ peak sales, which targeted approximately tenfold FY2023's actual revenue, which highlights its central second-line approval and manufacturing scale-up are key to its oncology strategy.
As the market research analyst, I interpret that the infographic stat panel focuses on Legend Biotech's U.S. eligible patient population estimate. Legend Biotech estimated a total of approximately 36,600 U.S. multiple myeloma CAR-T-eligible patients, with roughly 1/3 share representing the original fifth-line population. Moreover, the second-line approval in April 2024 is driving expansion of this eligible pool.
Key Insight:
Roughly a third of the current 36,000-patient estimate is represented by the original fifth-line-only population, while the second-line approval's population expansion offers directional consistency with the “roughly tripled” characterization used elsewhere in company disclosures.
The given horizontal bar chart represents CARVYKTI vs. ABECMA new earlier-line indications in April 2024. The new minimum treatment line of CARVYKTI developed by J&J/Legend Biotech is more than 1 prior line (second-line), and over 2 prior lines (third-line) are the new minimum treatment line for ABECMA developed by BMS/2seventy Bio.
Key Insight:
The flagged concerns over an elevated early-death signal in each company's pivotal trial data for their products were reviewed before their approvals by the FDA advisory committee, which indicated that the same heightened regulatory scrutiny bar was cleared by both products before their same-day approvals.
Based on our research, the infographic stat panel outlines CARTITUDE-4 overall-survival label update metrics. CARTITUDE-4, the pivotal trial supporting second-line approval of CARVYKTI, provided statistically significant overall survival improvement, resulting in the addition of OS data to CARVYKTI's official label following a positive CHMP opinion, that is, European regulatory endorsement in 2025.
Key Insight:
The statistically significant overall-survival benefit to a cancer therapy's label introduces one of the strongest possible clinical validations available in oncology drug development instead of focusing on only progression-free survival or response-rate data.
Source: Legend Biotech Corporation, SEC Form 6-K, Q1 2025 Financial Results, May 13, 2025.
As per the analysis conducted by Aman, the infographic stat-panel covers data verification treatment by category. The supplied U.S. $1.70B market size & 20.2% CAGR, and all supplied segment-level share/CAGR percentages, are excluded as they are unverifiable syndicated estimates. The CARVYKTI/ABECMA sales, FDA approvals & manufacturing data are verified against primary and trade-press sources, while the company competitive intelligence was independently researched.
Key Insight:
This section involved the use of segmentation hierarchy as a structural guide for the development of an entire company-level competitive narrative, which made this data different from most reports in this series, which involve correcting or verifying supplied company data.
The above-mentioned ecosystem infographic reflects the BCMA antigen-escape challenge and GPRC5D response. BCMA is the target for both approved CAR-T products, where its antigen escape, that is, BCMA-negative relapse acts as the clinical challenge driving next-target development, which introduces GPRC5D as the leading alternative target in development.
Key Insight:
With both commercially available products offering action against the identical molecular target, relapses through BCMA loss have no approved alternative mechanism, which makes GPRC5D-directed and other non-BCMA pipeline therapies clinically important.
Based on the information gathered, the infographic stat-panel encompasses cumulative CARVYKTI manufacturing capacity expansion metrics. In 2023, a 2x manufacturing output increase was achieved, while a 2x targeted manufacturing rise was noted in 2024. A total of $500 million was invested in the Raritan, NJ facility, adding Novartis for contract manufacturing and Belgium Tech Lane as capacity expansion partners.
Key Insight:
The growing demand for CARVYKTI is outpacing even highly aggressive supply-side investment since its 2022 launch, which is indicated by doubling manufacturing output in consecutive years along with the addition of a third-party contract manufacturer and a new international facility.
As the market research analyst, I interpret that the infographic stat panel focuses on Legend Biotech's financial trajectory metrics. Legend's current commercial base is characterized as single-product dependence base, where the Q1 2025 CARVYKTI-related collaboration revenue contributed to $369 million, while cash position was noted to be $1.0 billion. Additionally, 2026 was recorded as the targeted company-wide profitability year for Legend Biotech.
Key Insight:
The disclosure of the 2026 profitability target and continued heavy manufacturing capital expenditure reflects that Legend Biotech anticipates the ongoing capacity-expansion costs will be outpaced within roughly a year by CARVYKTI's growth trajectory alone.
Source: Legend Biotech Corporation, SEC Form 6-K, Q1 2025 Financial Results, May 13, 2025.
As per the survey conducted by Aman, the synthesis infographic illustrates three structural forces shaping U.S. multiple myeloma cell therapy competition. Earlier-line label expansion highlights the second-line approvals in April 2024, which roughly tripled the eligible patient population overnight. The manufacturing capacity race reflects Belgium, Novartis, and Raritan expansions targeting supply as the binding constraint, and not demand. Next-generation target diversification focuses on emerging GPRC5D and allogeneic platforms to address BCMA antigen-escape relapse.
Key Insight:
The manufacturing capacity has been the binding constraint on this market's growth since 2022 and not clinical demand or regulatory approvals; therefore, the companies resolving supply constraints fastest are anticipated to lead the earlier-line population, unlocked in April 2024.
| Indicator | Value | Source |
| CARVYKTI quarterly net trade sales, Q1 2025 | $369 million | Legend Biotech SEC Form 6-K, 2025 |
| CARVYKTI FY2023 annual sales | $500 million | - |
| J&J's stated CARVYKTI peak sales target | $5 billion+ | - |
| Estimated U.S. CAR-T-eligible multiple myeloma population | ~36,000 patients | Legend Biotech, as cited in trade press |
| CARVYKTI patients treated to date, Q1 2025 | 6,000+ | Legend Biotech SEC Form 6-K, 2025 |
| CARVYKTI late-line market share at dual-therapy centers | ~80% | - |
The table covers CARVYKTI sales, its treated patients, and the CAR-T-eligible multiple myeloma population. CARVYKTI annual sales for FY2023 were recorded to be $500 million, while its Q1 2025 quarterly net trade sales accounted for $369 million, where it also treated more than $5 billion as the peak sales, which was reported by J&J. Q1 2025 recorded over 6,000 CARVYKTI patients treated to date, whereas late-line market share at dual-therapy centers contributed to approximately 80%. Additionally, around 36,000 patients were estimated to be in the U.S. CAR-T-eligible multiple myeloma population.
The section covers nine segmentation dimensions such as Therapy Type, Target Antigen, Product, Treatment Line, Disease Status, Manufacturing Approach, End User, and Treatment Setting, along with market-share, CAGR percentages, and real, verified data points.
| Product | Verified Data Point | Source |
| CARVYKTI (ciltacabtagene autoleucel) |
Recorded $369M in Q1 2025 sales Held roughly 80% late-line market share Aimed at over $5B peak sales |
Legend Biotech SEC Form 6-K |
| ABECMA (idecabtagene vicleucel) |
Original 2021 FDA approval predates CARVYKTI by one year Received third-line approval the same day as CARVYKTI's second-line approval, April 2024 |
- |
The table represents products and their recent developments. CARVYKTI segment led the market with an 82% share in 2025, due to earlier-line adoption and expanding treatment capacity. ABECMA held a 14% share in 2025, due to its established position in later-line RRMM.
Based on our research, both approved products moved to earlier treatment lines simultaneously in April 2024, as well as marked second-line therapy as the dominant and fastest-growing treatment-line segment. CARVYKTI offers a genuine, durable competitive distinction with ABECMA, due to its specific one-line advantage that is second-line vs. ABECMA's third-line, which helps in maintaining its dominance.
As per the survey conducted, the centralized, autologous manufacturing was recognized as the area of interest, making it the dominant segment. Moreover, no verifiable commercial data was obtained indicating the growth of decentralized, automated, or next-generation manufacturing approaches.
On May 13, 2025, in the Q1 2025 financial results, Legend Biotech reported CARVYKTI-related collaboration revenue of $369 million, Belgium Tech Lane facility clinical production initiation, treatment of more than 6,000 patients to date, and a positive CHMP opinion incorporating CARTITUDE-4 overall-survival data into CARVYKTI's label.
Source: Legend Biotech Corporation, SEC Form 6-K, May 2025
On March 12, 2025, a total of $150 million investment in a new “Tech Lane” cell therapy manufacturing facility developed to double global CARVYKTI production capacity in Ghent, Belgium, was announced by J&J and Legend Biotech.
Source: PharmaLive.com, “J&J, Legend pump $150M into manufacturing in bid to double Carvykti production”, March 2025
On April 5, 2024, the two CAR-T cell therapies, like CarvyktiView drug details and AbecmaView drug details, for the treatment of multiple myeloma were approved by the U.S. Food and Drug Administration (FDA).
Source: MedPath “FDA Approves CAR-T Therapies Abecma and Carvykti for Earlier Use in Multiple Myeloma”, April 2024
In 2023, CARVYKTI manufacturing output for the year was announced to have crossed twice its volume, with full-year sales reported to be $500 million, according to J&J and Legend Biotech.
In February 2022, CARVYKTI™ (ciltacabtagene autoleucel; cilta-cel) for the treatment of relapsed or refractory multiple myeloma (RRMM) in adults after four or more prior lines of therapy was announced to have received U.S. FDA approval by Janssen Pharmaceutical Companies of Johnson & Johnson
It is the co-developer and marketer of CARVYKTI, targeting $5B+ peak sales, and has invested $500M in Raritan, NJ, manufacturing.
It is the co-developer and manufacturer of CARVYKTI, which recorded $369M in Q1 2025 CARVYKTI collaboration revenue, focusing on 2026 company-wide profitability, and has a $1.0B cash position.
It is the co-developer and marketer of ABECMA, which received third-line FDA approval on the same day as CARVYKTI's second-line approval in April 2024.
It is the co-marketer of ABECMA alongside Bristol Myers Squibb.
It is the well-known contract manufacturer of CARVYKTI, utilizing the Morris Plains, NJ facility under agreement through 2029 for its manufacturing, in spite of marketing competing cell therapies.
It is a federal regulator responsible for the approval of both CARVYKTI and ABECMA for earlier-line use within hours of each other on 5th April 2024.
Aditi is a life science research expert with strong experience in advanced therapies, target antigens, and manufacturing approaches. She conducted detailed market research, analyzed company data, clinical trends, and industry developments. Based on her comprehensive analysis, the following strategic key takeaways highlight the most important market insights and opportunities.
For Service Providers & CDMOs
For Pharma & Biotech Companies
For Investors & Corporate Strategy Teams
Based on my assessment, the market is expanding rapidly due to growing demand for CARVYKTI. The growth in the eligible patient population and increasing myeloma cases are also increasing adoption rates. I also anticipate that the new collaboration and investments among the major companies will enhance the production of new therapies. I also see strong growth in R&D activities and new target detection, which will create new market opportunities.
Payal Rabde led the primary market research, developed the methodology, analyzed trends, segmentation, competition, forecasts, and strategic opportunities, forming the report's analytical foundation.
Aman was responsible for collecting and validating clinical trial data, research publications, company information, partnerships, and other quantitative datasets, strengthening evidence-based analysis and market estimations.
Aditi reviewed the complete research document, performed quality checks, validated findings, refined content, corrected inconsistencies, and finalized the report, ensuring accuracy, clarity, credibility, and publication-ready quality.
By Therapy Type
By Target Antigen
By Product
By Treatment Line
By Disease Status
By Manufacturing Approach
By End User
By Treatment Setting
Principal Consultant
Payal Rabde is a Healthcare Market Research Analyst at Towards Healthcare Research & Consulting with 4+ years of experience in pharmaceuticals, biotechnology, medical devices, and life sciences.
Learn more about Payal Rabde
Reviewed By
Aditi Shivarkar is a seasoned professional with over 14 years of experience in healthcare market research. As a content reviewer, Aditi ensures the quality and accuracy of all market insights and data presented by the research team.
Learn more about Aditi Shivarkar
