About Refractory Multiple Myeloma Treatment
Multiple myeloma is a malignant plasma cell disease that mostly affects secondary organs such as the bone, kidney, and bone marrow, as well as immune and neurologic dysfunction. Multiple myeloma is a clonal plasma cell cancer caused by complex interactions between bone marrow stromal cells, malignant progenitor cells, and the microenvironment of the bone marrow. Refractory multiple myeloma is characterized as a disease that is progressing or non-responsive to therapy, or is progressing or non-responsive within sixty days of the last treatment in patients with a poor response. The increasing prevalence of multiple myeloma, advancement in research and development for innovative therapeutics for refractory multiple myeloma treatment, and the introduction of monoclonal antibodies for refractory multiple myeloma treatment are some of the factors driving the growth of the refractory multiple myeloma treatment market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Refractory Multiple Myeloma Treatment treatment market is expected to continue growing, driven by the development of new targeted therapies, personalized medicine approaches, and the increasing need for effective treatments for this aggressive disease. Competition will remain fierce, with established players facing pressure from new entrants and the evolving treatment landscape. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Refractory Multiple Myeloma Treatment 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.
Takeda Pharmaceutical Company Limited (Japan), Novartis AG (Switzerland), GlaxoSmithKline Plc (United Kingdom), Teva Pharmaceutical Industries Ltd. (Israel), Bristol Myers Squibb Company (Unite States), Amgen Inc. (United States) and ONO PHARMACEUTICAL CO., LTD. (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Janssen Pharmaceuticals, Inc. (United States), AbbVie Inc (United States) and Sanofi (France).
Segmentation Overview
AMA Research has segmented the market of Global Refractory Multiple Myeloma Treatment market by Type (Immunomodulatory drugs (IMiDs) (Thalidomide (THAL), Lenalidomide, Pomalidomide, Bortezomib, Carfilzomib), Cytotoxic agents, High-Dose Therapy And Autologous Stem Cell Transplantation (HDT-SCT) and Allogeneic Stem Cell Transplantation) and Region.
On the basis of geography, the market of Refractory Multiple Myeloma Treatment 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 Distribution Channel, the sub-segment i.e. Hospitals will boost the Refractory Multiple Myeloma Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drug Class, the sub-segment i.e. Proteasome Inhibitor will boost the Refractory Multiple Myeloma Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing use of online platforms and social media to reach wider audiences and educate patients and healthcare professionals.
Market Growth Drivers:
Increased Prevalence of numerous forms of Blood Cancers and Increased need for efficient and effective treatments or Rare Diseases
Challenges:
Lack of Effective Treatments in Certain Countries and Lack of Awareness Among People
Restraints:
Lack of R&D as it is a rare disease and High Cost of Treatment
Opportunities:
Advancement in Research and Development for Innovative Therapeutics
Market Leaders and their expansionary development strategies
In December 2023, AbbVie joins forces with the American Cancer Society on improving access to care for RRMM patients. This partnership focuses on reducing disparities in RRMM treatment and ensuring equitable access to new therapies.
In November 2023, AbbVie unveils elnetoligide (Plenaxis). This novel oral immunomodulatory drug, approved for use with dexamethasone in newly diagnosed or RRMM patients, offers a new treatment option with potentially fewer side effects.
Key Target Audience
Pharmaceutical Companies, Suppliers, Medical Research Companies, Governmental & Regulatory Bodies and Others
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.