About Multiple Myeloma Treatment
Multiple myeloma is a complex blood cancer that affects plasma cells in the bone marrow. Fortunately, there are various treatment options available, and the specific approach will depend on several factors, including the stage and progression of your myeloma, your overall health, and your preferences. The increasing number of cases of blood cancer, including multiple myeloma are driving the market growth. Multiple myeloma, is considered to be a rare cancer form but, covers a noteworthy number of cancer cases globally and there is a growing demand for effective and advanced therapeutics. Rising patient numbers, continuous advancements in treatment, and increasing awareness are contributing to its positive trajectory. However, addressing affordability concerns and tackling drug resistance are crucial for ensuring equitable access to these life-changing therapies. The manufacturers are designing and developing new products and drugs for the treatment of multiple myeloma. These factors are bolstering the market growth of multiple myeloma market. Also, the advancement in therapies and drugs is growing owing to the reports indicating an increase in the incidence of multiple myeloma around the world.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The multiple myeloma treatment market is expected to continue its strong growth trajectory, fueled by rising disease incidence, new drug approvals, and expanding treatment options. Companies that can address access and affordability challenges, develop differentiated therapies, and personalize treatment approaches will be well-positioned to succeed in this competitive landscape. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global 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.
Johnson & Johnson Services, Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), Pfizer Inc. (United States), Sanofi (France), Eli Lilly (United States), Novartis (Switzerland), AbbVie Inc. (United States), Zai Lab Ltd. (China), MorphoSys AG (Switzerland) and Teva Pharmaceutical Industries Ltd. (Israel) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Millennium Pharmaceuticals, Inc. (United States), BeiGene, Ltd. (China), Kyowa Kirin Co., Ltd. (Japan), Oncobiologics Inc. (United States) and Takeda Pharmaceutical Company Limited (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Multiple Myeloma Treatment market by , Application (Hospitals, Specialty Clinics, Cancer Treatment and Rehabilitation Centers, Research Organization and Laboratories) and Region.
On the basis of geography, the market of 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 Route of Administration, the sub-segment i.e. Oral will boost the 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 Distribution Channel, the sub-segment i.e. Hospital pharmacy will boost the 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 Stages, the sub-segment i.e. Stage I will boost the 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 Treatment Type, the sub-segment i.e. Surgery will boost the 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 Dosage Form, the sub-segment i.e. Capsule will boost the 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 Diagnosis, the sub-segment i.e. Blood Tests will boost the Multiple Myeloma Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing awareness and early diagnosis due to improved screening techniques
Market Growth Drivers:
Rising disposable incomes and improved healthcare infrastructure in developing countries and Increasing prevalence of hematological cancer
Challenges:
High cost of novel therapies
Restraints:
Lack of Skilled Professionals
Opportunities:
Increase in the number of research and development activities. and Rising investment for the development of advanced technologies
Market Leaders and their expansionary development strategies
In December 2023, Takeda and Kyowa Kirin: Collaboration to develop and commercialize Belantamab Mafodotin (BLENFACT) for Multiple Myeloma. The collaboration between Takeda and Kyowa Kirin on BLENFACT is a positive development for multiple myeloma patients in Japan. It has the potential to improve access to treatment and offer new hope for patients with this challenging disease.
In September 2023, BMS Announces FDA Approval of Idecabtuzumab (Rondance) for the Treatment of Adults with Relapsed or Refractory Multiple Myeloma Who Have Already Received At least Four Prior Therapies Idecabtuzumab is a monoclonal antibody targeting CD38.
In the United States, the regulatory authority responsible for approving and regulating vaccines, including dendritic cell cancer vaccines, is the U.S. Food and Drug Administration (FDA). The FDA reviews the safety, efficacy, and manufacturing quality of vaccines through a rigorous regulatory process, which includes preclinical studies, clinical trials, and assessment of manufacturing facilities.
Key Target Audience
HealthCare Professionals, Patients and Caregivers, Potential Investors, Market Research and Consultancy Firm, Government Bodies and Authorities 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.