About Multiple Myeloma Therapy
Multiple myeloma is a malignancy that develops when malignant plasma cells multiply. The immune system relies on normal plasma cells, which are present in the bone marrow. By producing antibodies that recognize and target bacteria, plasma cells aid in the battle against infection. Cancer cells accumulate in the bone marrow, crowding out healthy blood cells in multiple myeloma. These cancerous plasma cells subsequently create aberrant proteins (m protein), which can lead to malignancies, renal damage, and immune system impairment. The launch of monoclonal antibodies (mAbs) Empliciti and Darzalex will be the key drivers of growth, as they will not only provide a new therapeutic option for MM patients, but they will also lengthen the period between relapses, extending the duration of Revlimid and/or Velcade therapies. Ninlaro and Kyprolis, second-generation proteasome inhibitors, will also improve therapeutic options for these individuals. This will alter the industry and market, which is now controlled by Revlimid, an immunomodulator, and Velcade, a proteasome inhibitor.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Multiple Myeloma Therapy is a fragmented market due to the presence of less players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Multiple Myeloma Therapy market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Onyx Pharmaceuticals, Inc (United States), Janssen Biotech, Inc (United States), Johnson & Johnson (United States), F. Hoffmann-La Roche Ltd (Switzerland), GlaxoSmithKline plc (United Kingdom), AbbVie Inc. (United States), Novartis AG (Switzerland), Bristol-Myers Squibb Company (United States), Eagle Pharmaceuticals, Inc (United States), Mylan N.V. (United States) and Hikma Pharmaceutical Plc (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Apotex Inc (Canada), Alvogen (United States) and Amneal Pharmaceutical Inc (United States).
Segmentation Overview
AMA Research has segmented the market of Global Multiple Myeloma Therapy market by Type (Targeted Therapy, Chemotherapy, Radiotherapy and Bone Marrow Transplant), Application (Smouldering Multiple Myeloma and Active Multiple Myeloma) and Region.
On the basis of geography, the market of Multiple Myeloma Therapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-Use, the sub-segment i.e. Hospital will boost the Multiple Myeloma Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Launch of Second-Generation Proteasome Inhibitors
Market Growth Drivers:
Increased Prevalence of Numerous Kinds of Blood cancer and Stringent Regulatory Factors
Challenges:
Limited Target Patient Population
Restraints:
High Cost of Treatment and Stringent Regulatory Factors
Opportunities:
Increasing Product Launches, Growing Research and Development Activities and Growing Drug Development Activities
Market Leaders and their expansionary development strategies
In December 2023, AstraZeneca has entered into a definitive agreement to acquired Gracell Biotechnologies Inc., a global clinical-stage biopharmaceutical company developing innovative cell therapies for the treatment of cancer and autoimmune diseases, furthering the AstraZeneca cell therapy ambition.
In August 2020, the Food and Drug Administration approved carfilzomib (KYPROLIS, Onyx Pharmaceuticals, Inc.) and daratumumab (DARZALEX, Janssen Biotech, Inc.) in combination with dexamethasone for adult patients with relapsed or refractory multiple myeloma who have received one to three lines of therapy.
EHA-ESMO Clinical Practice Guidelines for diagnosis, treatment. This EHA-ESMO Clinical Practice Guideline provides key recommendations on the management of multiple myeloma. Authorship includes a multidisciplinary group of experts from different institutions and countries in Europe.
Key Target Audience
Drug Manufacturers and Suppliers, Academic Research Institutes, Hospitals and Clinics, Research and Development (R&D) Companies and Regulatory Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.