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Comprehensive Multiple Myeloma Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Multiple Myeloma Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The valuation of the multiple myeloma sector has experienced considerable expansion recently, set to increase from $26.07 billion in the year 2024 to $28.05 billion by 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. This upward trajectory during the past period stems from advancements in diagnostic capabilities, the incorporation of stem cell transplantation procedures, enhanced availability of superior healthcare services, the utilization of precise treatment strategies, and the adoption of care frameworks centered around patient needs.
Multiple Myeloma Market Size Forecast: What's the Projected Valuation by 2029?
Anticipation surrounds the multiple myeloma sector, projecting significant expansion over the forthcoming years, with valuation set to reach $38.16 billion by 2029, exhibiting an annual compounded growth rate (CAGR) of 8.0%; this upward trajectory is fueled by several factors, notably the incorporation of health technology, expanded use of remote medical consultations, the emergence of tailored vaccine treatments, and digital health infrastructure designed for patient instruction. Within this projected period, key developments shaping the landscape encompass progress in precision-focused treatments, ongoing research into new pharmaceutical agents, continual improvements in immunotherapeutic approaches, discovery of new diagnostic indicators, and the embedding of artificial intelligence capabilities.
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What Are the Drivers Transforming the Multiple Myeloma Market?
The soaring incidence rate of multiple myeloma is projected to be the primary impetus behind the expansion of the overall multiple myeloma market moving ahead. This malignancy, which originates within plasma cells, a subset of white blood cells, is seeing greater frequency attributed to factors such as advanced age, inherited predispositions, excess body weight, exposure to radiation, and various co-existing health issues; treatments for multiple myeloma function to decelerate its progression and alleviate symptomatic manifestations. Illustratively, data collected by the American Cancer Society, a non-profit health advocacy group located in the United States, indicates that the count of newly diagnosed multiple myeloma instances rose to 35,730 in the year 2023, up from the 34,470 cases reported in 2022, thus demonstrating how the rising occurrence of this disease directly stimulates development within the multiple myeloma market.
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What Long-Term Trends Will Define the Future of the Multiple Myeloma Market?
A significant movement within the multiple myeloma sector involves the increasing focus on novel product development, with leading firms actively engineering pioneering treatments to secure their competitive standing. As an illustration of this, the US Food and Drug Administration (FDA) gave the green light in October 2022 to TECVAYLI (teclistamab-cqyv), which marked the debut of a bispecific T-cell engager antibody, granted to Janssen Pharmaceutical Companies of Johnson & Johnson, a firm headquartered in Belgium. This therapeutic agent is designated for use in adult individuals suffering from multiple myeloma who have undergone a minimum of four previous treatment regimens, encompassing proteasome inhibitors, immunomodulatory agents, and antibodies targeting CD38. Its mechanism involves binding to both the B-cell maturation antigen (BCMA), present on the exterior of certain normal B-lineage cells, and the CD3 receptor found on the surfaces of T-cells and cancerous multiple myeloma cells.
Which Segments in the Multiple Myeloma Market Offer the Most Profit Potential?
The multiple myelomamarket 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
Subsegments:
1) By Medications: Immunomodulatory Drugs (IMiDs); Proteasome Inhibitors; Monoclonal Antibodies; Corticosteroids; Chemotherapy Agents
2) By Radiation Therapy: External Beam Radiation Therapy (EBRT); Radioisotope Therapy
3) By Stem Cell Transplant: Autologous Stem Cell Transplant (ASCT); Allogeneic Stem Cell Transplant
4) By Other Treatments: Supportive Care; Clinical Trials And Experimental Therapies
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Which Firms Dominate the Multiple Myeloma Market by Market Share and Revenue in 2025?
Major companies operating in the multiple myeloma market include 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.
Which Regions Offer the Highest Growth Potential in the Multiple Myeloma Market?
North America was the largest region in the multiple myeloma market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multiple myeloma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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