The report titled “Multiple Myeloma Treatment Market- Growth, Future Prospects, and Competitive Analysis, 2023 – 2030” offers strategic insights into the overall multiple myeloma treatment market along with the market size and estimates for the duration of 2020 to 2030. The said research study cover in-depth analysis of multiple myeloma market segments based on type and different geographies further segmented by countries. According to myeloma UK, in myeloma, plasma cells become abnormal, multiply uncontrollably and release only one type of antibody known as paraprotein, which has no useful function. It is often through the measurement of this paraprotein that myeloma is diagnosed and monitored.
For the purpose of this study, the global multiple myeloma treatment market is segmented on the basis of type into Drug Therapy, Stem cell Transplantation, Biophosphonates, Radiation Therapy, & Surgical Therapy. Drug therapy is further segmented into monoclonal antibodies, immunomodulatory drugs, proteasome inhibitors, chemotherapy, histone deacetylase inhibitor, and corticosteroids.
The geographical segmentation of multiple myeloma treatment market comprised regions such as North America, Europe, Asia-Pacific, Latin America & Middle East and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, Mexico, Saudi Arabia, South Africa, and other countries.
The multiple myeloma treatment market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Celgene Corporation, Janssen Biotech, Inc., Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Amgen, Inc., Genzyme Corporation, Juno Therapeutics, among others.
In year 2021, drug therapy dominated the market due to incessant market entry of novel drug therapies, most convenient mode of treatment, and rising demand for targeted therapy/ biological drugs. These drugs enhance the immune system cells that identify and attack cancer cells. The biologic therapies are expected to benefit from the rising preference among medical practitioners to implement biologics owing to their established clinical profile. Recently, the approval of new monoclonal antibodies, such as Darzalex, Pomalyst and Empliciti, are anticipated to drive the growth of this market segment in the near future. Furthermore, in August 2017 FDA approved personalized cellular therapy for advanced leukemia named chimeric antigen receptor (CAR) T-cell therapy is under clinical trials for multiple myeloma and its approval is expected to boost the growth of multiple myeloma treatment market in the near future.
In base year 2021, North America accounted for the largest share in global multiple myeloma treatment market due to key driving factors such as rising prevalence of multiple myeloma, high awareness associated with early cancer diagnosis and treatment, supportive reimbursement policies, and developed healthcare infrastructure. The American Cancer Society estimates that in 2017 about 30,280 new cases will be diagnosed in the United States and about 12,590 deaths are expected to occur. Thus, demand for novel drug therapies are expected to increase in the near future. During forecast period 2023 – 2030, Asia Pacific was observed as the fastest growing region due to key driving factors such as rising prevalence of multiple myeloma in developing countries, increasing awareness associated with early cancer diagnosis, developing healthcare infrastructure, and mounting demand for novel drug therapies.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Multiple Myeloma Treatment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
