Multiple Myeloma Treatment Market Research Report - Global Forecast till 2030

Multiple Myeloma Treatment Market Trends, Insights and Size Analysis By Treatment (Chemotherapy, Radiation Therapy, Stem Cell Transplant, Corticosteroids, Interferon, and Others), End User (Hospitals, Clinics, Independent Pharmacies, and Others)‚ÄĒForecast till 2030

ID: MRFR/Pharma/5354-HCR | 90 Pages | Author: Rahul Gotadki | February 2024         

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Multiple Myeloma Treatment Market Overview 

The multiple myeloma treatment market is expected to reach USD 26.5 billion at a CAGR of 4.2% during the forecast period 2022-2030. Multiple myeloma is a plasma cell malignancy. The immune system relies on plasma cells, which are present in the bone marrow. T cells and B cells are two types of cells that make up the immune system, and they work together to combat infections and other disorders. Lymphocytes are a type of white blood cell (WBC) that play a vital role in the immune system. Lymphocytes can be found in various places throughout the body, including lymph nodes, bone marrow, the intestines, and circulation. Due to key driving factors such as increased demand for non-invasive treatments and continuous improvement in research and development efforts, medicines therapy is predicted to be the largest market during the historic forecast period. An increase in the aging population increased healthcare expenditure, and increased use of novel cancer drugs in the market is expected to drive the growth of the multiple myeloma treatment market during the forecast period, whereas increasing disease prevalence along with a growing elderly population is the primary factor driving the market growth. The future medication pipeline for multiple myeloma has also been noted as promising. In the future, other variables such as biological pharmaceuticals and stem cell therapies are projected to drive the market. The research and development activities for multiple myeloma treatment are being accelerated by the major companies in the market.

Key players:

Some of the key players in the multiple myeloma treatment market are

  • Celgene Corporation

  • Janssen Biotech, Inc.

  • Bristol-Myers Squibb Company

  • Novartis AG

  • Millennium Pharmaceuticals

  • Amgen, Inc.

  • Genzyme Corporation

  • Juno Therapeutics

  • Johnson & Johnson

  • Hoffmann-La Roche Ltd.

  • GlaxoSmithKline plc

  • AbbVie Inc.

  • Novartis AG

  • Innate Pharma SA

  • Celldex Therapeutics, Inc.

  • Onyx Pharmaceuticals

  • Pfizer

  • Takeda Pharmaceuticals

Multiple Myeloma Treatment Market Segment Insights

The market of multiple myeloma treatment is further segmented into treatment types and end-users. Based on treatment types the market is segmented into chemotherapy, corticosteroids, interferon, stem cell transplant, and radiation therapy. Chemotherapy is further sub-segmented into bendamustine (treanda), cyclophosphamide (Cytoxan), doxorubicin (adriamycin), etoposide (vp-16), liposomal doxorubicin (Doxil), melphalan (Alkeran, evomela), vincristine (Oncovin). On the basis of end-user global market of multiple myeloma treatment is further segmented into hospitals, clinics, rehabilitative center treatment, independent pharmacies, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market of multiple myeloma treatment in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. US account for the largest share of market.   
The European multiple myeloma treatment market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 

The market of multiple myeloma treatment in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.

Multiple Myeloma Treatment Regional Insights

Geographically, North America is expected to hold the largest share in global market of multiple myeloma treatment 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. 

Europe has been dominating the multiple myeloma treatment market owing to the faster approval rates and favorable healthcare policies and the presence of major players in this region. Higher prevalence of multiple myeloma in developed economies is driving the growth of the Europe market. 

Asia-Pacific is expected to show exponential growth due to rising awareness associated with cancer diagnosis and developing healthcare infrastructure is responsible for high accessibility to modern technology.

Furthermore, factors such as increased healthcare infrastructure and improved healthcare reimbursement policies are responsible for the growth of multiple myeloma treatment market in the Middle East and Africa.

Source: Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), American Association of the neurological surgeon

Multiple Myeloma Treatment Market Segment Insights

Multiple Myeloma Treatment Treatment Insights

  • Chemotherapy 

  • Bendamustine (Treanda)

  • Cyclophosphamide (Cytoxan)

  • Doxorubicin (Adriamycin)

  • Etoposide

  • Liposomal doxorubicin (Doxil)

  • Melphalan (Alkeran, Evomela)

  • Vincristine (Oncovin)

  • Corticosteroids

  • Interferon

  • Stem Cell Transplant

  • Radiation Therapy

Multiple Myeloma Treatment End User Insights

  • Hospitals

  • Clinics

  • Independent pharmacies

  • Others

Multiple Myeloma Treatment Region Insights

  • Americas

    • North America

      • US

      • Canada

    • South America

  • Europe

    • Western Europe

      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe

    • Eastern Europe

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Republic of Korea

    • Rest of Asia Pacific

  • Middle East & Africa

    • Middle East

    • Africa

Recent Development

Sanofi SA's Sarclisa (siltuximab) in combination with carfilzomib and dexamethasone for patients with relapsed or refractory multiple myeloma gained FDA approval in March 2021. UKONIQ (umbralisib), an oral, once-daily inhibitor of phosphoinositide 3 kinases (PI3K) delta and casein kinase 1 (CK1) epsilon for the treatment of adult patients with relapsed or refractory marginal zone lymphoma (MZL) and adult patients with relapsed or refractory follicular lymphoma, received accelerated approval from the US FDA (FL).

Intended Audience

  • Manufacturers and Suppliers

  • Hospitals and clinics

  • Laboratories and Associations

  • Research institutes

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 26.5 Billion
  CAGR   4.2%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Treatment, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Janssen Biotech, Inc., Bristol-Myers Squibb Company, Takeda Pharmaceuticals Millennium Pharmaceuticals, Novartis AG, Genzyme Corporation, Juno Therapeutics, Johnson & Johnson, Novartis AG, Celgene Corporation, AbbVie Inc., Amgen, Inc., Innate Pharma SA, Celldex Therapeutics, Inc., GlaxoSmithKline plc, Pfizer, F. Hoffmann-La Roche Ltd., Onyx Pharmaceuticals
  Key Market Opportunities   Rising demand for non-invasive treatments, and incessant development in research and development activities.
  Key Market Drivers ·  Rise in healthcare expenditure ·  Growing elderly population ·  High awareness about early cancer diagnosis and treatment

Frequently Asked Questions (FAQ) :

The multiple myeloma treatment market is projected to grow at an 4.2% CAGR between 2022-2030.

North America is projected to command the largest share in the multiple myeloma treatment market.

Rise in healthcare expenditure and growing elderly population is boosting market growth.

High treatment cost may limit the multiple myeloma treatment market growth.

Different end use industries of the multiple myeloma treatment market include independent pharmacies, hospitals, clinics, and others.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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