Multiple Myeloma Therapeutics Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2019 – 2028

“The global multiple myeloma therapeutics market is valued at US$ 8.71 billion in 2020 and is anticipated to reach US$ 28.99 billion by 2028 witnessing a CAGR of 16.02% in the forecast period 2021-2028”, Says Accurize Market Research.

Multiple myeloma is a rare type of blood cancer that affects a person when the plasma cells start to multiply abnormally and become cancerous at a certain stage. Plasma cells are found inside the bone marrow cells of living bodies and are responsible for the formation of antibodies in the body. In simple terms, multiple myeloma is a chronic condition that builds up when the plasma cells divide abnormally and produce a large number of antibodies which is harmful to the body such as immunoglobulin, monoclonal protein, and M-spike, are the antibodies which if increases in the body it gets fatal. Loss of appetite, increased urination, pain, and fatigue are the common symptoms of multiple myeloma. Multiple myeloma generally affects the blood, bone, and kidney of the patients and is the second-largest type of blood cancer and affects 160,000 people annually. National Cancer Institute in the U.S reports 30,770 cases per year and about 1.7% of all new cases of cancer is multiple myeloma. There is no permanent cure at present but if proper diagnosis & treatment facilities are provided then the patient reports slower disease progression.
FDA-approved drugs like Ninlaro (ixazomib), Velcade (bortezomib), Kyprolis (carfilzomib), Pomalyst (pomalidomide), Revlimid (lenalidomide), and Darzalex (daratumumab) are extensively driving the global market. Additionally, rising incidences of the disease among the population, a hike in blood cancer, and a rise in the geriatric population are the major factors augmenting the global multiple myeloma therapeutics market growth. Also, extensive R&D coupled with novel pipeline drugs are boosting the global market. However, the high costs of the treatment and limited availability of proper treatment especially in the developing regions are further restricting the growth of the global multiple myeloma therapeutics market.

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The global multiple myeloma therapeutics market is bifurcated on the basis of Treatment, Distribution Channel, and Region. By Treatment, the scope of the report offers Proteasome Inhibitor, CD38, Immunomodulators, Alkylating agents, and others. Based on Treatment, the immunomodulators segment dominates the global market owing to its accuracy & efficiency in the treatment of multiple myeloma. Some of the effective immunomodulators are Pomalyst (pomalidomide), Thalomid (thalidomide), and Revlimid (lenalidomide). Based on the Distribution channel, the global market is fragmented into retail pharmacies, drug stores, hospital pharmacies, and online pharmacies.
Global Multiple Myeloma Therapeutics market outlook – North America dominates the global market among all the regions.
By region, the global multiple myeloma therapeutics market is fragmented into North America, Europe, APAC, and RoW. At present, North America is leading the global market owing to factors such as the high prevalence of disease in the region, the presence of a large number of investors, and active players in the region. Europe & APAC to foresee a moderate amount of growth during the forecast period.
Prominent players of the global Multiple Myeloma therapeutics market:
CELGENE CORPORATION (Bristol Myers Squibb Company), Takeda Pharmaceutical Company Limited, Novartis AG, ONO PHARMACEUTICAL CO., LTD, AbbVie Inc., Kayopharm, Amgen Inc., Janssen Pharmaceuticals Inc., and Sanofi among others.

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