Multiple Myeloma Therapeutics Market Growth & Trends
The global multiple myeloma therapeutics market size was valued at USD 30.30 billion in 2030 and is projected to grow at a CAGR of 5.5% from 2024 to 2030. Key factors driving the market expansion include constant introduction of newer and effective therapeutic options and high adoption rates of the same.
This space is expected to gain momentum with the addition of novel drugs to the current therapeutics array with monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors. Due to failed outcomes of the currently available medication, there is a high demand for effective treatment strategies to offset therapeutic dissatis faction and increase life expectancies of patients; which in turn is expected to boost the research and development of improved therapies for multiple myeloma.
Growing prevalence of the disease along with the surging elderly population is the prime factor expected to drive the growth significantly during the forecast period. Complications involved in treating geriatric patients are driving the demand for supportive treatments such as restoration procedures involving transfusion of blood components and point of care technologies.
The U.S, followed by Europe, has been dominating the market owing to the presence of major players in these regions, faster approval rates, and favorable healthcare policies. Higher prevalence of multiple myeloma in the developed economies is a pivotal determinant driving the growth of the Europe market.
The space consists of a few major players including Celgene Corporation, Janssen Biotech, Inc., Bristol-Myers Squibb Company, and Novartis AG. A large revenue share is captured by Celgene Corporation with its high-performing drug, Revlimid. The drug currently dominates the market with more than 50% share of the total multiple myeloma therapeutics market.
Multiple Myeloma Therapeutics Market Report Highlights
- According to the National Cancer Institute, more than 30,330 new cases of multiple myelomaare expected to register in 2016. The number of new cases is expected to grow each year with the growing geriatric population.
- Newly introduced drugs are expected to increase the longevity of patients undergoing treatment for multiple myeloma, which yields a high cumulative number of patients requiring treatment each year.
- In 2015, the chemotherapy and other drugs segment dominated the global space with largest revenue share owing to lack of effective alternative option.
- Chemotherapy and other drugs segment has been sub-segmented into traditional chemotherapy, immunomodulating agents, protea some inhibitors, HDAC inhibitors, and monoclonal antibodies.
- In 2015, immunomodulating agents drug class captured the largest market share. Absence of comparable alternatives is the prime factor driving the growth of the segment.
- The newly introduced drugs belonging to the classes HDAC inhibitors and monoclonal antibodies are expected to show the fastest growth during the forecast period owing to the effectiveness and safety of these drugs.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Multiple Myeloma Therapeutics Market Variables, Trends, & Scope
Chapter 4. Multiple Myeloma Therapeutics Market: Drug Estimates & Trend Analysis
Chapter 5. Multiple Myeloma Therapeutics Market: Disease Estimates & Trend Analysis
Chapter 6. Multiple Myeloma Therapeutics Market: End Use Estimates & Trend Analysis
Chapter 7. Multiple Myeloma Therapeutics Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- Johnson & Johnson Services, Inc.
- Novartis AG
- Amgen Inc.
- Sanofi
- Bristol-Myers Squibb Company
- Takeda Pharmaceutical Company Limited
- Merck & Co.
- AbbVie Inc.
- GLENMARK PHARMACEUTICALS LTD.
- DAIICHI SANKYO COMPANY, LIMITED
- bluebird bio, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 20.87 Billion |
| Forecasted Market Value ( USD | $ 30.3 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
