Press release
Rising Prevalence Of Multiple Myeloma Fuels Growth Of The Market Driver: A Major Catalyst in the Evolution of the Empliciti Market in 2025
Rising Prevalence Of Multiple Myeloma Fuels Growth Of The Market
In recent times, the size of the Empliciti market has witnessed a compound annual growth rate of $XX%. The projections suggest that the market will inflate from $XX million in 2024 to $XX million in 2025, marking a CAGR of $XX%. Factors such as the sanction and implementation of Empliciti, escalation in the frequency of multiple myeloma, augmented attention towards cancer immunotherapy, improved patient cognizance and academic programs, and advancements in healthcare infrastructure have driven the growth during the historical period.
In the upcoming years, the empliciti market scale is projected to observe a $XX advancement. The prediction points towards a mark hitting $XX million in 2029 with a compound annual growth rate (CAGR) found at $XX%. The upswing in this forecasted period can be credited to the outspread into new signs, a mounting incidence of multiple myeloma, the acquisition of regulatory approvals for additional indications, and superior patient access programs. During the projection period, significant trends will encompass breakthroughs in immuno-oncology, augmenting demand for bespoke medicine, progression in cell and gene therapy, the incorporation of immuno-modulatory drug (imid), and advanced delivery systems.
What Is Stimulating Growth in the Empliciti Market?
The proliferation of multiple myeloma is anticipated to stimulate the expansion of the empliciti market. Multiple myeloma is a plasma cell malignancy, a kind of white blood cell located in the bone marrow, resulting in irregular cell development and potential harm to bones, kidneys, and the immune system. The escalation in multiple myeloma cases is prompted by elements such as a growing older population and enhanced diagnosis methods. Empliciti functions by aiming at the SLAMF7 protein on myeloma and natural killer (NK) cells, strengthening the immune system's capacity to discern and eradicate cancer cells. It intensifies NK cell function and advocates antibody-dependent cellular cytotoxicity (ADCC), assisting in delaying the disease's progression when used in conjunction with other treatments. For example, in August 2024, the American Cancer Society, a non-profit organization based in the US, reported approximately 35,780 new instances of multiple myeloma in the United States in 2024, made up of 19,520 men and 16,260 women. Furthermore, approximately 12,540 deaths are predicted, consisting of 7,020 men and 5,520 women. Consequently, the rising incidence of multiple myeloma is anticipated to propel the empliciti market's growth.
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Which Key Market Leaders Are Driving Empliciti Industry Growth?
Major companies operating in the empliciti market include Bristol-Myers Squibb Company
What Are the Main Segments in the Empliciti Market?
The empliciti market covered in this report is segmented -
1) By Indication: Active Multiple Myeloma, Smoldering Multiple Myeloma
2) By Drug Class: Monoclonal Antibodies, Immunomodulatory Agents, Proteasome Inhibitors
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End Use: Hospitals, Clinics, Ambulatory Care, Home Care
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Which Geographic Area Leads the Empliciti Market?
North America was the largest region in the empliciti market in 2024. The regions covered in the empliciti market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Empliciti Global Market Report?
- Market Size Analysis: Analyze the empliciti Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the empliciti market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall empliciti market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the empliciti market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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