Press release
Multiple Myeloma Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
Multiple Myeloma
The Business Research Company offers in-depth market insights through Multiple Myeloma Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The multiple myeloma market size has grown strongly in recent years. It will grow from $23.84 billion in 2023 to $25.9 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to diagnostic improvements, introduction of stem cell transplantation, access to high-quality medical care, precision medicine approaches, patient-centric care models.
The multiple myeloma market size is expected to see strong growth in the next few years. It will grow to $34.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to health technology integration, adoption of telemedicine services, personalized vaccine therapies, digital health platforms for patient education. Major trends in the forecast period include advancements in targeted therapies, novel drug development, immunotherapy advancements, novel biomarker development, integration of artificial intelligence.
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Market Segmentation:
The multiple myeloma market covered in this report 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
Major Driver - Increasing Prevalence Of Multiple Myeloma Drives Multiple Myeloma Drives Market
The increasing prevalence of multiple myeloma is expected to propel the growth of the multiple myeloma market going forward. 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. For instance, according to the American Cancer Society, a US-based voluntary health organization, the number of new cases of multiple myeloma increased to 35,730 in 2023 from 34,470 in 2022. Therefore, the increasing prevalence of multiple myeloma is driving the growth of the multiple myeloma market
Competitive Landscape:
Major companies operating in the multiple myeloma market report are Pfizer Inc., Johnson & Johnson Private Limited, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Amgen Inc., Janssen Global Services LLC, Celgene Corporation, Mylan N.V., Biogen Inc., Cipla Inc., Sun Pharmaceutical Industries Ltd., CRISPR Therapeutics AG, Karyopharm Therapeutics Inc., Fate Therapeutics Inc., Atara Biotherapeutics Inc., Allogene Therapeutics Inc., C4 Therapeutics Inc., Adaptimmune Therapeutics plc, Precision Biosciences Inc.
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Top Trend - Product Innovation In Multiple Myeloma Treatment Market
Product innovation is a key trend gaining popularity in the multiple myeloma market. 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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Multiple Myeloma Market Characteristics
3. Multiple Myeloma Market Trends And Strategies
4. Multiple Myeloma Market - Macro Economic Scenario
5. Multiple Myeloma Market Size And Growth
…..
27. Multiple Myeloma Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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