According to the report “Global Multiple Myeloma Therapeutics Market,” published by Market Data Forecast, the global market is projected to reach USD 9.1 billion by 2021 from USD 7.2 billion in 2016, at a CAGR of 4.8% from 2016 to 2021.
Multiple myeloma is a cancer formed by malignant plasma cells. Normal plasma cells are found in the bone marrow and are an important part of the immune system.
The immune system is made up of several types of cells that work together to fight infections and other diseases. Lymphocytes (lymph cells) are the main cell type of the immune system. The major types of lymphocytes are T cells and B cells.
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When B cells respond to an infection, they mature and change into plasma cells. Plasma cells make the antibodies (also called immunoglobulins) that help the body attack and kill germs. Lymphocytes are in many areas of the body, such as lymph nodes, the bone marrow, the intestines, and the bloodstream. Plasma cells, however, are mainly found in the bone marrow. Bone marrow is the soft tissue inside some hollow bones. In addition to plasma cells, normal bone marrow has cells that make the different normal blood cells.
When plasma cells become cancerous and grow out of control, they can produce a tumor called a plasmacytoma. These tumors generally develop in a bone, but they are also rarely found in other tissues. If someone has only a single plasma cell tumor, the disease is called an isolated (or solitary) plasmacytoma. If someone has more than one plasmacytoma, they have multiple myeloma.
Global Multiple Myeloma Therapeutics Market: Drivers & Restraints
The market for multiple myeloma therapeutics is anticipated to grow with increasing incidences of the disease among population. Growing geriatric population across the globe is absolutely augmenting the growth of multiple myeloma therapeutics market during the forecast period. However, various patients suffer decline or ripen treatment resistance which is acting as a restrain for the market and it becomes necessary to develop harmless and effective treatments that extend the duration of retardation and increase survival.
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Global Multiple Myeloma Therapeutics market: Segmentation
By Treatment Type
- Anthracycline antibiotic
- Alkylating agent
- Targeted Therapy
- Proteasome inhibitor
By Drug Type
- Dexamethasone (Decadron)
- Prednisone (Deltasone/Orasone)
- Immunomodulatory agents
- Thalidomide (Thalomid)
- Lenalidomide (Revlimid)
- Arsenic trioxide (Trisenox)
- Plerixafor (Mozobil)
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Global Multiple Myeloma Therapeutics market: Overview
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.
Global Multiple Myeloma Therapeutics market: Region-wise Outlook
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America dominated the market with highest revenue because of stability of key manufacturers in the region. Due to increase in geriatric population in the countries like China and India, Asia-Pacific is expected to witness highest growth rate in the forecast period.
Key Questions Answered
- What is the current and future Multiple Myeloma Therapeutics market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Multiple Myeloma Therapeutics space globally?
- What are the key, high growth markets that Multiple Myeloma Therapeutics should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Multiple Myeloma Therapeutics currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook Multiple Myeloma Therapeutics?
- What are the challenges and barriers that have hindered widespread adoption of Multiple Myeloma Therapeutics?
Global Multiple Myeloma Therapeutics market: Key Players
Some of the key contributors in the industry include AB Science SA, AbbVie Inc., Ablynx NV, Acceleron Pharma Inc., IGF Oncology LLC. , ImmunGene Inc., Millennium Pharmaceuticals Inc., MimiVax LLC, Mirna Therapeutics, RedHill Biopharma Ltd., Rhizen Pharmaceuticals S.A., Terpenoid Therapeutics Inc. ,Teva Pharmaceutical Industries Ltd. ,TG Therapeutics Inc. and Johnson and Johnson.
Reasons to buy Global Multiple Myeloma Therapeutics market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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