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Global Multiple Myeloma Therapy Market by Therapy Type (Chemotherapy and Other Drugs (Traditional Chemotherapy, Immunomodulating Agents, Proteasome inhibitors, Histone Deacetylase (HDAC) inhibitors, and Monoclonal Antibodies), Radiation, and Stem Cell Transplant & Other Supportive Treatments), By End-User (Hospitals, Clinics, and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
Global Multiple Myeloma Therapy Market Overview
Multiple myeloma (MM) is a malignant plasma cell disease. Its tumor cells originate from plasma cells in the bone marrow, and plasma cells are cells that develop B lymphocytes to the final functional stage. Therefore, multiple myeloma can be classified as B lymphocytic lymphoma. It is currently classified by WHO as a type of B-cell lymphoma, called plasma cell myeloma/plasmacytoma. It is characterized by abnormal proliferation of bone marrow plasma cells accompanied by an overproduction of monoclonal immunoglobulin or light chain (M protein). Multiple myeloma is characterized by the tumorous proliferation of cloned plasma cells that produce monoclonal immunoglobulins. The disease occurs in the bone marrow and often results in extensive bone destruction with osteolytic lesions, osteopenia, and/or pathological fractures. Other complications associated with the disease also include high calcium hyperlipidemia, renal insufficiency, anemia, and infection.
Global Multiple Myeloma Therapy Market Insights
Global Multiple Myeloma Therapy Market likely to grow with a significant rate during the forecast period, 2020-2027. The growing prevalence of the condition, along with swelling geriatric population across the globe, will propel the globe multiple myeloma therapy market in the upcoming periods. Moreover, the availability of advanced diagnostic techniques such as imaging devices and personalized diagnostic tests would project to boom the global multiple myeloma therapy market in the future timeline. Additionally, the rise in the prevalence of blood cancer and the growing demand for biologic therapies will accelerate the global multiple myeloma therapy industry. Multiple myeloma is sometimes accompanied by multiple osteolytic lesions, hypercalcemia, anemia, and kidney damage.
Furthermore, the surge in the aging population and the rising penetration of novel cancer drugs worldwide will contribute to the growth of multiple myeloma industry in the next few years. In addition, a significant development in technologies and drugs/vaccines for breast cancer, thyroid cancer, and pancreatic cancer which would escalate the global multiple myeloma industry in the forthcoming periods. The emergence of new drugs and the application of autologous hematopoietic stem cell transplantation have significantly improved the prognosis of multiple myeloma.
Growth Driver
The surge in demand for Multiple Myeloma Therapy for cancer and tumor diseases
Although there has been great progress in the treatment of multiple myeloma in recent years, it is still an incurable disease. The purpose of treatment is to prevent or alleviate symptoms and complications, destroy abnormal plasma cells, and slow the progression of the disease. Doctors use different drug combinations based on the characteristics of myeloma and whether the patient is eligible for stem cell transplantation. The drug combination may include thalidomide, lenalidomide, or pomalidomide, and/or bortezomib or carfilzomib, plus glucocorticoids (such as dexamethasone), and/or chemotherapy drugs. Chemotherapy drugs include cyclophosphamide, melphalan, bendamustine, and doxorubicin.
According to WHO, Cancer is a leading cause of death worldwide, accounting for around 9.6 million deaths in 2018. Worldwide, about 1 in 6 deaths is due to cancer.
Product Type Segmental Analysis
Based on product type, the global Multiple Myeloma Therapy market classified into Chemotherapy and Other Drugs (Immunomodulating Agents, Traditional Chemotherapy, Proteasome inhibitors, Histone Deacetylase (HDAC) inhibitors, and Monoclonal Antibodies), Radiation, and Stem Cell Transplant & Other Supportive Treatments. The Chemotherapy and Other Drugs segment predicted to gain a major share in the market by 2027, owing to the unavailability of alternatives and limitations of surgical procedures. It reduces the chances of cancer coming back.
Stem Cell Transplant segment will grow due to new types of procedures and advancements in a stem cell, which reduced-intensity treatment regimen.
End-User Segmental Analysis
Based on end-user, the global Multiple Myeloma Therapy market categorized into Hospitals, Clinics, and Others. Hospitals segment likely to gain maximum revenue by 2027 owing to the surge in demand for multiple myeloma therapy in hospitals with rising incidences of the cancer disease amongst the population.
Clinics segments will drive on account of early check and diagnosis of cancer disease for cancer patients.
Region Segmental Analysis
Based on geography, the global Multiple Myeloma Therapy market size segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027 due to the presence of prominent players in these regions, along with the presence of cancer affected population and the growing adoption of novel therapeutic approaches in the region.
The Asia Pacific will drive attributable to the aging population in these regions, coupled with financial aids by the government for healthcare expenditure.
Competitor Analysis
Companies such as Revlimid, Pomalyst. Janssen Biotech, Inc., Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Amgen, Inc., Genzyme Corporation, Juno Therapeutics, Celgene Corporation, Johnson and Johnson, AbbVie Inc., Innate Pharma, and Celldex Therapeutics, Inc. are the key players in the Global Multiple Myeloma Therapy Market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global Multiple Myeloma Therapy providers
- Research organizations and consulting companies
- Organizations, associations, and alliances related to multiple myeloma therapy
- Regulatory bodies
Scope of the report
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 24.52 billion |
| Revenue forecast in 2027 | USD 33.54 billion |
| Growth Rate | CAGR of 6.45% from 2020 to 2027 |
| Historical data | 2017-2019 |
| Forecast period | 2021 – 2027 |
| Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Revlimid, Pomalyst. Janssen Biotech, Inc., Amgen, Inc., Genzyme Corporation, Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Juno Therapeutics, Celgene Corporation, Johnson and Johnson, AbbVie Inc., Innate Pharma, and Celldex Therapeutics, Inc. |
Recent Developments
- In September 2021, Apotex Inc. launched the generic version of Revlimid capsules, APO-lenalidomide, to treat multiple myeloma and Myelodysplastic syndrome.
- In August 2021, Pfizer announced to acquire Trillium Therapeutics Inc.
- In August 2021, Senhwa Biosciences announced dose-escalation initiation of the phase I trial of pidnarulex to treat Advanced Hematological Malignancies.
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies)
- Radiation
- Stem Cell Transplant & Other Supportive Treatments
By End-User
- Hospitals
- Clinics
- Others
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Global Multiple Myeloma Therapy Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Technological Landscape
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Economic Factor Analysis
- Global Multiple Myeloma Therapy Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies
- Radiation
- Stem Cell Transplant & Other Supportive Treatment
- Chemotherapy and Other Drugs
- By End-User
- Hospitals
- Clinics
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Therapy Type
- Demand
- Market Size & Forecast, 2016-2027
- North America Multiple Myeloma Therapy Market Overview
- North America Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Multiple Myeloma Therapy Market Share & Forecast, 2016-2027
- By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies
- Radiation
- Stem Cell Transplant & Other Supportive Treatment
- Chemotherapy and Other Drugs
- By End-User
- Hospitals
- Clinics
- Others
- By Country
- US
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Multiple Myeloma Therapy Market
- By Therapy Type
- Demand
- North America Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Europe Multiple Myeloma Therapy Market Overview
- Europe Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Multiple Myeloma Therapy Market Share & Forecast, 2016-2027
- By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies
- Radiation
- Stem Cell Transplant & Other Supportive Treatment
- Chemotherapy and Other Drugs
- By End-User
- Hospitals
- Clinics
- Others
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Multiple Myeloma Therapy Market
- By Therapy Type
- Demand
- Europe Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Asia Pacific Multiple Myeloma Therapy Market Overview
- Asia Pacific Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Multiple Myeloma Therapy Market Share & Forecast, 2016-2027
- By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies
- Radiation
- Stem Cell Transplant & Other Supportive Treatment
- Chemotherapy and Other Drugs
- By End-User
- Hospitals
- Clinics
- Others
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Multiple Myeloma Therapy Market
- By Therapy Type
- Demand
- Asia Pacific Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- South America Multiple Myeloma Therapy Market Overview
- South America Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Multiple Myeloma Therapy Market Share & Forecast, 2016-2027
- By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies
- Radiation
- Stem Cell Transplant & Other Supportive Treatment
- Chemotherapy and Other Drugs
- By End-User
- Hospitals
- Clinics
- Others
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Multiple Myeloma Therapy Market
- By Therapy Type
- Demand
- South America Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Middle East & Africa Multiple Myeloma Therapy Market Overview
- Middle East & Africa Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East & Africa Multiple Myeloma Therapy Market Share & Forecast, 2016-2027
- By Therapy Type
- Chemotherapy and Other Drugs
- Traditional Chemotherapy
- Immunomodulating Agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal Antibodies
- Radiation
- Stem Cell Transplant & Other Supportive Treatment
- Chemotherapy and Other Drugs
- By End-User
- Hospitals
- Clinics
- Others
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Multiple Myeloma Therapy Market
- By Therapy Type
- Demand
- Middle East & Africa Multiple Myeloma Therapy Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- AbbVie, Inc.
- Revlimid
- Pomalyst
- Janssen Biotech, Inc.
- Bristol-Myers Squibb Company
- Novartis AG
- Millennium Pharmaceuticals
- Amgen, Inc.
- Genzyme Corporation
- Juno Therapeutics
- Celgene Corporation
- Johnson and Johnson
- Innate Pharma
- Celldex Therapeutics, Inc.
- Other Prominent Players
Frequently Asked Questions (FAQ):
Multiple myeloma is a type of malignant plasma cell disease that forms in a kind of white blood cell called a plasma cell.
The global multiple myeloma market size is USD 24.52 billion in 2020 and is projected to reach USD 33.54 billion by 2027.
Increased demands for Multiple Myeloma Therapy for cancer and tumor diseases, increasing geriatric population are the growth drivers of the multiple myeloma market.
Hospitals, Clinics, and Others are the end-users of the multiple myeloma market.
The global multiple myeloma market is exhibiting a CAGR of 6.45% in the forecast period.
