Multiple Myeloma Market to Exhibit a Remarkable Growth of USD 38.94 Billion by 2029, Size, Share, Trends, Key Drivers, Growth and Opportunity Analysis

HOUSTON, March 22, 2023 (GLOBE NEWSWIRE) — Data Bridge Market Research completed a qualitative study titled “Multiple Myeloma Market” with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. To thrive in this rapidly transforming marketplace, today’s businesses call for innovative and superlative solutions. Being an outstanding resource of market info, an excellent Multiple Myeloma market research report provides recent as well as upcoming technical and financial details of the industry. Clients accomplish unparalleled insights and acquaintance of the best market opportunities into their respective markets from this market report. Market segmentation is also covered in detail by considering several aspects that is sure to help businesses out there. Global Multiple Myeloma market report provides in-depth market data and forecast by analyzing key business trends and identifying potential growth avenues across the entire value chain.

An international Multiple Myeloma market report is generated with the combination of best industry insight, practical solutions, talent solutions and latest technology. It gives explanation about a methodical investigation of existing scenario of the global market, which takes into account several market dynamics. With the market data of this report, emerging trends along with major drivers, challenges and opportunities in the market for Multiple Myeloma industry can be identified and analysed. Excellent practice models and method of research utilized while generating this report reveals the best opportunities to thrive in the market. To create Multiple Myeloma report, markets on the local, regional as well as global level are explored.

Data Bridge Market Research analyses that the multiple myeloma market was valued at USD 23.53 billion in 2021 and is expected to reach USD 38.94 billion by 2029, registering a CAGR of 6.50% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Multiple myeloma is a type of cancer that develops from malignant plasma cells. Highly unstable aberrant cells migrate through the bloodstream, circulatory, and lymphatic systems to produce malignant tumors. Plasma cells become malignant and increase rapidly, resulting in a tumor known as plasmacytoma, which inhibits the bone marrow from creating healthy blood cells and immunoglobulins. Because myeloma cells develop and multiply, fewer leukocyte, erythrocyte, and platelet cells are formed, resulting in a weakened immune system. Multiple myeloma symptoms include gastrointestinal issues, enlarged organs, renal damage, rapid weight loss, bone pain, and fever. Multiple myeloma is the third most common, following lymphoma and leukaemia as the most frequent blood cancers.

The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.

Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Multiple Myeloma market. Sales and revenue in this sector have increased at an exponential rate. The market’s size and growth are both expected to increase thanks to the factors driving the market’s expansion over the projected period.

Leading businesses in the worldwide Multiple Myeloma market are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies’ strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.

Fundamental Aim of Multiple Myeloma Market Report

In the Multiple Myeloma market, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.

• Major alterations to the Multiple Myeloma Market in the near future.

• Notable Market rivals around the world.

• The Multiple Myeloma Market’s Future Scope and Product Outlook

• Future-promising emerging markets.

• The Market Presents Difficult Challenges and Threats.

• Sales data and profiles of the world’s leading Multiple Myeloma Market

Some of the major players operating in the multiple myeloma market are:

• F. Hoffmann-La Roche Ltd. (Switzerland)

• Teva Pharmaceutical Industries Ltd. (Ireland)

• Novartis AG (Switzerland)

• Eli Lilly and Company (US)

• Johnson & Johnson Private Limited (US)

• Bausch Health Companies Inc. (Canada)

• Sun Pharmaceutical Industries Ltd. (India)

• Hikma Pharmaceuticals PLC (UK)

• Fresenius Kabi AG (Germany)

• Amneal Pharmaceuticals LLC. (US)

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Recent Development

• In April 2021, U.S. Food and Drug Administration (FDA) had announced the approval of BCMA-targeted CAR T-Cell Therapy for the treatment of multiple myeloma. The current approval is based in part on the findings of small research that found that idecabtagene vicleucel (ide-cel) reduced tumor size in 72 percent of patients. These effects persisted on average 11 months.

• In June 2021, AbbVie acquired the TeneoOne and its key immunotherapeutic asset for treating multiple myeloma named TNB-383B. TNB-383B is a bispecific antibody that targets both BCMA and CD3 and is designed to direct the body’s own immune system to target and kill BCMA-expressing tumor cells. AbbVie and TeneoOne announced a strategic partnership in February 2019 to develop and commercialize TNB-383B, a bispecific antibody that targets both BCMA and CD3 and is designed to direct the body’s immune system to target and kill BCMA-expressing tumor cells. Based on an interim review of an ongoing Phase I research, AbbVie exercised its acquisition right.

Key Market Segments Covered in Multiple Myeloma Industry Research

Type

• Smouldering Multiple Myeloma

Treatment

Chemotherapy Drugs

Immunotherapy Drugs

Corticosteroids

Monoclonal antibodies

Diagnosis

Symptoms

Dosage Forms

Route of Administration

End-Users

Distribution Channel

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Key Growth Drivers:

• Introduction of monoclonal antibodies with safety profile to fight myeloma cells

The expansion of the multiple myeloma market is fueled by the increasing use of microRNA treatments, the rise of nanomedicine platforms, and the constant introduction of effective and safe therapeutics. With the addition of monoclonal antibodies and histone deacetylase (HDAC) inhibitors to the present therapies array, the medicines market is likely to gain traction. Because of the established clinical profile, clinicians favor biologic therapy with monoclonal antibodies such as darzalex and empliciti.

• Increasing prevalence of hematological cancer

The rising prevalence of hematological cancer is estimated to enhance the multiple myeloma market’s growth rate. Multiple myeloma is a form of hematological cancer triggered by certain genetic defects. The disease is treated with medications that modify the immune system and improve the efficacy of chemotherapies, radiation therapies, stem cell transplants, and platelet transfusions.  

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of multiple myeloma market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, rising geriatric population and increasing number of obese population will expand the multiple myeloma market.

Multiple Myeloma Market Regional Analysis/Insights:

The countries covered in the Multiple myeloma market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the multiple myeloma market because of the growing prevalence of blood cancer and the rising geriatric population. Additionally, the growing demand for biologic therapies and people’s unhealthy lifestyle will further propel the market’s growth rate in this region.

Asia-Pacific are expected to grow during the forecast period of 2022 to 2029 due to increasing penetration of novel cancer drugs and rising healthcare expenditure in this region. Also, growing number of obese population will further cushion the market’s growth rate in this region.

This Market Intelligence Report Analyses Some of the Most Crucial Concerns:

• How will the major segments of this international market develop over the next few years?

• Who are the major players that will dominate the market in the future?

• When it comes to this industry, who are the top suppliers and producers?

• How have the most successful companies in the industry planned for future growth and expansion?

• In what sectors might we expect to see the greatest increase in demand over the coming years?

• How many distinct subsets of buyers make up this market?

• Which regional powerhouse do you foresee as becoming the largest player in the international market?

• Does a new coronavirus pandemic have any consequences?

• In what ways are established actors stymied by the entry of newcomers, and how may they be overcome?

Table of Contents:

1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Multiple Myeloma Market: Regulations
6. Market Overview
7. Global Multiple Myeloma Market, By Type
8. Global Multiple Myeloma Market, By Treatment
9. Global Multiple Myeloma Market, By Diagnosis
10. Global Multiple Myeloma Market, By Symptoms
11. Global Multiple Myeloma Market, By Dosage Forms
12. Global Multiple Myeloma Market, By End-Users
13. Global Multiple Myeloma Market, By Distribution Channel
14. Global Multiple Myeloma Market, By Region
15. Global Multiple Myeloma Market: Company Landscape
16. SWOT Analyses
17. Company Profile
18. Questionnaires
19. Related Reports

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Explore More Reports:

• North America Multiple Myeloma Diagnostic Market, By Product Types (Multiple Myeloma Suppression and Multiple Myeloma Treatment), Type (Devices and Consumables and Reagents), Disease (Smouldering (Indolent) Multiple Myeloma, Active (Symptomatic) Multiple Myeloma, Solitary Plasmacytoma of the Bone, Extramedullary Plasmacytoma, Light Chain Myeloma, Non-Secretory Myeloma, Rare Types of Multiple Myeloma), Test Type (Blood Tests, Urine Tests, Bone Marrow Tests and Genome Sequencing in Multiple Myeloma), End User (Hospitals, Speciality Clinics, Homecare, Academic and Research Institutes, Others), Distribution Channel (Direct Tender, Retail Sales) https://www.databridgemarketresearch.com/reports/north-america-multiple-myeloma-diagnostic-market

• U.S Multiple Myeloma Drugs Market, By Disease (Smouldering (Indolent) Multiple Myeloma, Active (Symptomatic) Multiple Myeloma, Solitary Plasmacytoma of the Bone, Extrameduallry Plasmacytoma, Light Chain Myeloma, Non-Secretory Myeloma and Rare Types of Myeloma), Therapy (Immunotherapy, Chemotherapy, Corticosteroids, Others), Mechanism of Action (Proteasome Inhibitor, Monoclonal Antibodies, Immunomodulatory Agents, Histone Deacetylase Inhibitors, Others), Brands (Darzalex, Ninlaro, Revlimod, Velcade, Empliciti, Venclexta, Others), Drug Type (Branded, Generic), Route of Administration (Intravenous, Oral, Subcutaneous, Intramuscular, Intra-Arterial, Others), End User (Hospitals, Specialty Clinics, Academic & Research Institutes and Others), Distribution Channel (Retail Pharmacy & Drug Store, Hospital Pharmacy, Online Pharmacy, Others) https://www.databridgemarketresearch.com/reports/us-multiple-myeloma-drugs-market

• U.S Multiple Myeloma Diagnostic Market, By Disease (Smouldering (Indolent) Multiple Myeloma, Active (Symptomatic) Multiple Myeloma, Solitary Plasmacytoma of the Bone, Extrameduallry Plasmacytoma, Light Chain Myeloma, Non-Secretory Myeloma and Rare Types of Myeloma), Test Type (Blood Tests, Urine Tests, Bone Marrow Tests and Genome Sequencing in Multiple Myeloma), Type (Devices and Consumables & Reagents), End User (Hospitals, Specialty Clinics, Academic & Research Institutes and Others), Distribution Channel (Retail Pharmacy & Drug Store, Hospital Pharmacy, Online Pharmacy, Others) https://www.databridgemarketresearch.com/reports/us-multiple-myeloma-diagnostic-market

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