Multiple Myeloma Drugs Market: Global Drug Forecast and Market Analysis to 2026

Multiple Myeloma Drugs Market

The increasing prevalence of multiple myeloma is one of the major factors that is driving the growth of the multiple myeloma drugs market. Multiple Myeloma is the second most common hematological cancer. It forms in the plasma cells. Plasma cells are an important part of the immune system and are responsible for making antibodies that help fight against infections and other diseases.

The global burden of multiple myeloma has been increasingly uniformly for the last 3 decades. In the year 2016, there were around 130,000 cases of multiple myeloma globally, and approximately, 98,000 deaths occurred in the same year. Even after the approval of effective treatment options, the disease remains incurable in a vast patient pool, resulting in a substantial disease burden.

Apart from this, the launch of new therapeutic drugs and the active clinical pipeline for multiple myeloma treatment will also drive the market during the forecast period. For instance, in February 2019, Sanofi announced the results of Phase III clinical trials of isatuximab, its anti-CD38 therapy for the treatment of multiple myeloma.

However, the patent expiry of key multiple myeloma drugs is expected to impede the growth of the market.

The global multiple myeloma drugs market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An in-depth analysis of the regional and country level market at the various segment and sub-segment levels has been provided. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & product launches that will assist or affect the market in the near future.

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Immunomodulating agents dominated the multiple myeloma drugs market
Based on the drug class, the multiple myeloma drugs market has been segmented into chemotherapy drugs, corticosteroids, immunomodulating agents, proteasome inhibitors, monoclonal antibodies, and others.

Although the way in which immunomodulating agents affect the immune system isn’t clear, these drugs have been used for the effective treatment of multiple myeloma for the last two decades. The key drugs in this segment include thalidomide, lenalidomide, and pomalidomide.

Monoclonal antibodies are expected to grow with a significant CAGR during the forecast period. The monoclonal antibodies approved for the treatment of multiple myeloma are daratumumab and elotuzumab. The global net sales of DARZALEX (daratumumab) were around US$ 699 million in the first quarter of 2019. Currently, several clinical trials are being conducted for different monoclonal antibodies for the treatment of multiple myeloma.

Another class of drugs used for the treatment of multiple myeloma are proteasome inhibitors. Proteasome inhibitors act by controlling cell division. They work by stopping proteasomes (enzyme complexes) in cells from breaking down proteins that are essential for controlling cell division. Proteasome inhibitors such as Bortezomib, Carfilzomib, and Ixazomib have been approved for the treatment of multiple myeloma.

North America is to account for the largest market share throughout the forecast period

The high incidence of multiple myeloma in the United States is one of the major factors behind the dominance of North America in the multiple myeloma drugs market. The American Cancer Society estimates that approximately 32,110 new cases of multiple myeloma will be diagnosed in the United States in the year 2019, whereas 12,960 deaths are expected to occur in the same year.
Apart from this, the high adoption rate of newer therapeutic treatments, coupled with the favourable reimbursement scenario, will also drive the growth of this market. Also, most of the key drug manufacturers are present in this region.

However, the Asia-Pacific region is expected to show significant growth during the forecast period, owing to the rising patient base. Apart from this, the increasing adoption rate of novel therapies, coupled with the support from government as well as non-government organizations, is expected to drive the growth of the multiple myeloma drugs market in this region.

Company Profiles and Competitive Intelligence:

The major players operating in the multiple myeloma drugs market are

Celgene Corporation (US)
Janssen Biotech, Inc. (US)
Bristol-Myers Squibb Company (US)
Millennium Pharmaceuticals (US)
Genzyme Corporation (US)
Novartis AG (Switzerland
Amgen, Inc. (US)
amongst others

Celgene Corporation is one of the major players in the multiple myeloma drugs market. The company’s key immunomodulating agents, Pomalyst (Pomalidomide) and Revlimid (Lenalidomide) have shown high treatment efficiency and are expected to drive the multiple myeloma drugs market. Revlimid® sales for the year 2018 were US$ 9.68 billion and an 18% year-on-year increase over the previous year.

The company is further expanding its multiple myeloma treatment portfolio by organic and inorganic methods. In January 2018, the company acquired Juno Therapeutics, Inc. The company Juno Therapeutics is a pioneer in the development of CAR-T cell therapies for the treatment of different types of cancers. Juno’s JCAR017 is a great fit with Celgene’s lymphoma program. It is the best-in-class CD-19 CAR-T for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

Most of these companies are focussing on the development of combination therapies for the treatment of multiple myeloma.

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