Multiple myeloma is a cancer formed due to malignant plasma cells. Normal plasma cells are found in the bone marrow and are an important part of the immune system. Plasma cells helps to fight infections by making antibodies that recognize and attack germs. Multiple myeloma causes cancer cells to accumulate in the bone marrow, where they crowd out healthy blood cells. These malignant plasma cells then produce abnormal proteins (m protein) which may cause tumors, damage the kidneys, and impair immune system function.
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The global Multiple Myeloma market is anticipated to be mainly driven by increase in ageing population, rising obese population, increase in healthcare expenditure and increased penetration of novel cancer drugs. Some of the significant developments of this industry include upcoming new innovative products in the market, trend of combination therapies, and chance of new players.
The multiple myeloma drug treatment market will benefit from novel therapies from 2016 to 2023. The main drivers of growth will be the launch of monoclonal antibodies (mAbs) Empliciti and Darzalex, which will not only provide a new treatment option for MM patients, but they will also lengthen the time between relapses, meaning that the duration of Revlimid and/or Velcade treatments will also be longer. Also, launch of second-generation proteasome inhibitors Ninlaro and Kyprolis, will further increase treatment options for these patients. This situation will change the industry and market, which is currently dominated by an immunomodulator, Revlimid, and a proteasome inhibitor, Velcade.
The main strength of this market is that it’s able to support many products. Novel drugs will likely to add treatment options for the Multiple Myeloma patients. Rather than competing with each other for a share of the market, these novel drugs will be used together to form more-effective treatment regimens, driving sales for each other. Again, when patients relapse, a different combination will be used. This means there are significant opportunities for revenue generation during the forecast period. There are several promising compounds in late stage development that will capture a significant share of the market after approval. Those agents include HDAC inhibitors, monoclonal antibodies (mAbs) and kinase inhibitors. These launches will make market more diverse, with several blockbuster products claiming a significant share. The patent expiries of a number of key treatments will pave the way for further new mAbs to have a major impact on the multiple myeloma therapeutics space by 2023.
However, there are limitations in this market. The limited target patient population is a restricting factor that will come into play during the forecast period. With the launch of new mAbs one after the other may cause the market saturation, then, and revenue growth will slow. Also, the high treatment price and legal regulations will restrict the market growth.
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The biggest constrainers of market are the increasing cost-consciousness of healthcare providers, as the launch and subsequent label extensions of these pipeline agents will lead to a significant expense, which may impact uptake of these drugs by the patients.
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