Multiple Myeloma Market to see Rapid Growth by 2029

The global multiple myeloma market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period. Myeloma is a cancer of plasma cells and majorly affects the kidney, bones, and blood cells. According to the Leukaemia & Lymphoma Society (LLS), an estimated 34,920 people living in the US is diagnosed with myeloma in 2021. The American Cancer Society estimates multiple myeloma in the US for 2023 and stated that about 35,730 new cases will be diagnosed in the US, among them 19,860 are men and 15,870 are women. About 12,590 mortalities are expected to occur by 2023, 7,000 in men and 5,590 in women. Dramatic advancements in new treatments, clinical trials, and new treatment approaches for myeloma are projected to drive market growth. For instance, in December 2022, a new drug modakafusp alfa was unveiled by researchers from the University of Pennsylvania's Abramson Cancer Center. Patients in Phase I/II multicenter trials receiving 1.5 milligrams of modakafusp every four weeks, results in 43% decrease in cancer. Modakafusp is a fusion protein that targets interferon (a pro-inflammatory hormone that is also used for treating viral infections and other cancers) to cells that have CD38, a surface marker presents on myeloma cells and a variety of immune cells.

Additionally, the market players which include, Novartis, Pfizer, Sanofi, and others are inclined towards adopting various strategies such as partnership, collaboration, and funding to remain competitive in the global market. For instance, in March 2022, Sanofi and Blackstone announced a strategic, risk-sharing collaboration under which funds managed by Blackstone Life Sciences (BXLS) contribute up to $320million to accelerate the global pivotal studies and the clinical development program for the subcutaneous formulation and delivery of the anti-CD38 antibody Sarclisa, to treat patients with multiple myeloma (MM). moreover, in January 2021 AbbVie and Teneobio, Inc. announced that AbbVie exercised its exclusive right to acquire TeneoOne, an affiliate of Teneobio, Inc., and TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of relapsed or refractory multiple myeloma (R/R MM).

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Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030

Segment Covered- 

By Drug Class
By Type
By Distribution Channel  

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- including Abbott Laboratories, Amgen Inc., GlaxoSmithKline plc, Merck & Co., Novartis AG, and Others.

Multiple Myeloma Market Report Segment

By Drug Class

Immunomodulator
Proteasome Inhibitor
Anti-CD38 Monoclonal Antibody
Alkylating Agents
Others

By Type 

Hyperdiploid (HMM)
Non-Hyperdiploid or hypodiploid

 By Distribution Channel

Hospital Pharmacies
Retail Pharmacies & Drug Stores
Online Pharmacies

Multiple Myeloma Market Report Segment by Region

A full Report of Multiple Myeloma Market is Available @  https://www.omrglobal.com/industry-reports/multiple-myeloma-market

Regional Analysis                                                                                                                                                                            

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

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