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Multiple Myeloma Drugs Market Analysis 2023: Market Statistics, Segments, Size, Trends And Forecast To 2032 | Pfizer Inc., Johnson & Johnson Pvt. Ltd, Merck & Co. Inc., AbbVie Inc., Bayer AG
Multiple Myeloma Drugs Market
The Business Research Company's Multiple Myeloma Drugs Global Market Report 2023 identifies increasing prevalence of hematological cancer as the major driver for the Multiple Myeloma Drugs market's growth in the forecast period. Hematological cancers start in blood-forming tissue, such as bone marrow, or immune system cells, such as leukemia, lymphoma, multiple myeloma, and others.
The global multiple myeloma drugs market size is expected to grow from $19.37 billion in 2022 to $20.7 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of multiple myeloma drugs market is expected to reach $26.3 billion in 2027 at a CAGR of 6.2%.
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Major competitors in the Multiple Myeloma Drugs market are Pfizer Inc., Johnson & Johnson Pvt. Ltd, Merck & Co. Inc., AbbVie Inc., Bayer AG.
A key trend in the Multiple Myeloma Drugs market includes Product innovation. Major companies operating in the multiple myeloma drugs market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in March 2022, Janssen Biotech Inc., a Japan-based biotechnology company, received the United States Food and Drug Administration approval for Carvykti, a CAR T-Cell therapy (personalized immunotherapy) for multiple myeloma. CARVYKTI (ciltacabtagene autoleucel) is a genetically modified autologous cell-based product composed of T cells transduced ex vivo with a replication-incompetent lentiviral vector encoding an anti-B cell maturation antigen (BCMA) chimeric antigen receptor (CAR) consisting of two single domain antibodies linked to a 4-1BB costimulatory domain and a CD3-zeta signaling domain. Patients who have received four or more lines of therapy, including treatment with three critical kinds of multiple myeloma medications (an immunomodulating agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody), are eligible to receive it to treat relapsed conditions.
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The Multiple Myeloma Drugs market is segmented -
1. By Drug Type: Immunomodulatory Drugs, Proteasome Inhibitors, Histone Deacetylase Inhibitors, Monoclonal Antibody Drugs, Steroids, Other Drug Types
2. By Therapy: Targeted Therapy, Biologic Therapy, Chemotherapy, Other Therapies
3. By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Other Distribution Channels
4. By End-User: Men, Women
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Multiple Myeloma Drugs market.
The Business Research Company's "Global Multiple Myeloma Drugs Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Multiple Myeloma Drugs Market Include:
1. Executive Summary
2. Multiple Myeloma Drugs Market Characteristics
3. Multiple Myeloma Drugs Market Trends And Strategies
4. Multiple Myeloma Drugs Market - Macro Economic Scenario
……
32. Global Multiple Myeloma Drugs Market Competitive Benchmarking
33. Global Multiple Myeloma Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Multiple Myeloma Drugs Market
35. Multiple Myeloma Drugs Market Future Outlook and Potential Analysis
36. Appendix
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