AbbVie's Elahere Market Expected to Skyrocket to $6B by 2034 in Ovarian Cancer Treatment

AbbVie Inc. (NYSE:ABBV) is one of the undervalued S&P 500 stocks to buy according to hedge funds. On June 25, the “Elahere Market Opportunities and Strategies to 2034” report was added to ResearchAndMarkets.com’s offering. It stated that the global market for Elahere, which is a treatment primarily for ovarian cancer, is anticipated to experience rapid growth and is projected to surge from nearly $502.56 million in 2024 to $6.07 billion by 2034 at a CAGR of 28.68% from 2029.

AbbVie, through its acquisition of ImmunoGen, is currently the sole and dominant player in the Elahere market, holding a 100% market share in 2023. AbbVie completed its acquisition of ImmunoGen on February 12 in 2024, in a deal that was valued at ~$10.1 billion. The acquisition was made to support AbbVie’s oncology pipeline, particularly with Elahere.

Elahere is indicated for ovarian neoplasms, which constituted the largest segment by clinical indication and accounted for 85.44% or $429.38 million of the market in 2024. This segment is expected to remain the fastest-growing with a CAGR of 29.67% during the 2024-2029 period. North America was the largest regional market for Elahere in 2024, and accounted for 97.09% of the total, or $487.92 million.

AbbVie Inc. (NYSE:ABBV) is a research-based biopharmaceutical company that researches, develops, manufactures, commercializes, and sells medicines and therapies worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.