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Multiple Myeloma Drugs Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Multiple Myeloma Drugs
What Is the Expected Multiple Myeloma Drugs Market Size During the Forecast Period?
In recent times, a significant growth has been observed in the market size for drugs used to treat multiple myeloma. This market is anticipated to rise from a value of $21.84 billion in 2024 to approximately $23.25 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. This growth during the past period is due to enhanced diagnosis techniques, successful clinical trials, a better understanding of the disease's biology, advancements in healthcare infrastructure, patient advocacy, and an increase in public awareness about the disease.
Robust expansion is projected for the multiple myeloma drugs market in the coming years, with an estimated value of $29.99 billion in 2029 and a compound annual growth rate (CAGR) of 6.6%. This growth during the forecast period can be linked to advancements in immunotherapy, development of targeted therapies, the application of liquid biopsy, the introduction of car-t cell therapy, and the identification of biomarkers. Notable trends during this period encompass a shift towards long-term survival, the exploration of epigenetic therapies, the adoption of telemedicine, broader access to innovative treatments, and sustainability in the treatment of myeloma.
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What Are the High-Growth Segments in the Multiple Myeloma Drugs Market?
The multiple myeloma drugs market covered in this report 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
Subsegments:
1) By Immunomodulatory Drugs: Lenalidomide, Thalidomide, Pomalidomide
2) By Proteasome Inhibitors: Bortezomib, Carfilzomib, Ixazomib
3) By Histone Deacetylase Inhibitors: Panobinostat, Romidepsin
4) By Monoclonal Antibody Drugs: Daratumumab, Elotuzumab, Isatuximab
5) By Steroids: Dexamethasone, Prednisone
6) By Other Drug Types: Alkylating Agents, Antimetabolites, New Experimental Drugs
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What Key Drivers Are Expected to Influence Future Multiple Myeloma Drugs Market Growth?
The multiple myeloma drugs market is expected to expand due to the rising incidence of hematological cancer. Hematological cancers originate from blood-forming tissues like bone marrow, or immune system cells, including leukemia, lymphoma, multiple myeloma, and others. Medications for multiple myeloma are commonly used to manage various myelomas by slowing their growth and eliminating cancer cells, boosting enzyme activity and aiding in bone strength maintenance, and alleviating pain from bone weakening. For instance, in January 2023, the American Cancer Society (ACS), a U.S. health organization, reported around 59,610 freshly diagnosed leukemia cases and roughly 20,380 acute myeloid leukemia (AML) cases. Additionally, approximately 23,710 deaths were linked with leukemia. Hence, the growing incidence of hematological cancer is fueling the expansion of the multiple myeloma drugs market.
Which Companies Hold the Largest Share Across Different Multiple Myeloma Drugs Market Segments?
Major companies operating in the multiple myeloma drugs market include Pfizer Inc., Johnson & Johnson Pvt. Ltd, Merck & Co. Inc., AbbVie Inc., Bayer AG., Roche Holding AG, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Kite Pharma Inc, Amgen Inc., AstraZeneca plc, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Daiichi Sankyo Company, Daiichi Sankyo Co. Ltd., Lonza Group AG, Cipla Ltd., ONO Pharmaceutical Co. Ltd., BieGene Ltd., Biotest AG, Onyx Pharmaceuticals Inc., PharmaMar SA, Karyopharm Therapeutics Inc., Poseida Therapeutics Inc., ImmunoGen Inc., Oncopetides AB
What Trends Are Driving Growth in The Multiple Myeloma Drugs Market?
The growing trend of product innovation is becoming more noticeable in the multiple myeloma drugs market. The main players in this market are putting their efforts into inventing new product lines to fortify their market status and attain an edge over their rivals. For example, in March 2022, Janssen Biotech Inc., a biotech firm based in Japan, got the green light from the United States Food and Drug Administration to proceed with the CAR T-Cell therapy named Carvykti, a groundbreaking immunotherapy treatment for multiple myeloma. CARVYKTI (ciltacabtagene autoleucel) is an ingeniously modified, cell-based autologous product comprising T cells that have been transduced ex vivo with an unviable lentiviral vector which encodes an anti-B cell maturation antigen (BCMA) chimeric antigen receptor (CAR) - it includes two single domain antibodies linked to a 4-1BB costimulatory domain and a CD3-zeta signaling domain. This treatment is available for patients who have undergone four or more therapy courses, involving treatment with three vital types of multiple myeloma medications - an immunomodulating agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody, primarily for retreated cases.
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What Are the Emerging Geographies for The Multiple Myeloma Drugs Market Growth?
North America was the largest region in the multiple myeloma drugs market in 2024. The regions covered in the multiple myeloma drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Multiple Myeloma Drugs Market?
2. What is the CAGR expected in the Multiple Myeloma Drugs Market?
3. What Are the Key Innovations Transforming the Multiple Myeloma Drugs Industry?
4. Which Region Is Leading the Multiple Myeloma Drugs Market?
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