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Multiple Myeloma Market Growth Rate, Trends, Key Drivers, Top Players And Outlook By 2032
Multiple Myeloma Market Analysis
The Business Research Company's Multiple Myeloma Global Market Report 2023 identifies increasing prevalence of multiple myeloma as the major driver for the multiple myeloma market's growth in the forecast period. Multiple myeloma is a cancer that appears in a type of white blood cell called a plasma cell. The increase in multiple myeloma is due to age, genetics, obesity, radiation exposure, and other conditions. Multiple myeloma treatment slows its spread and makes symptoms go away.
The global multiple myeloma market is expected to grow from $21.88 billion in 2022 to $23.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. 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 multiple myeloma market is expected to reach $32.18 billion in 2027 at a CAGR of 7.8%.
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Major competitors in the multiple myeloma market are Pfizer Inc., Johnson & Johnson Private Limited, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG.
A key trend in the multiple myeloma market includes product innovation. Major companies operating in the multiple myeloma market are developing innovative products to sustain their position in the market. For instance, in October 2022, Janssen Pharmaceutical Companies of Johnson & Johnson, a Belgium-based pharmaceutical company, received approval for TECVAYLI (teclistamab-cqyv), the first bispecific T-cell engager antibody from the US Food and Drug Administration (FDA). The drug is indicated for treating adult patients with multiple myeloma who have had at least four prior lines of therapy, including proteasome inhibitors, immunomodulatory drugs, and monoclonal antibodies against CD38. It acts by targeting the B-cell maturation antigen (BCMA), which is expressed on the surface of some healthy B-lineage cells and the CD3 receptor expressed on the surface of T-cells and multiple myeloma cells.
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The multiple myeloma market is segmented -
1) By Treatment: Medications, Radiation Therapy, Stem Cell Transplant, Other Treatments
2) By Diagnosis: Blood Tests, Bone Marrow Biopsy, Urine Tests, Imaging Tests
3) By Disease Type: Active Multiple Myeloma, Smoldering Multiple Myeloma
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Other Channels
• 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 market.
The Business Research Company's "Global Multiple Myeloma 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 Market Include:
1. Executive Summary
2. Multiple Myeloma Market Characteristics
3. Multiple Myeloma Market Trends And Strategies
4. Multiple Myeloma Market - Macro Economic Scenario
….
32. Global Multiple Myeloma Market Competitive Benchmarking
33. Global Multiple Myeloma Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Multiple Myeloma Market
35. Multiple Myeloma Market Future Outlook and Potential Analysis
36. Appendix
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