Multiple Myeloma Drugs Market

Market Overview:

The global multiple myeloma drugs market size reached US$ 21.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.

Multiple myeloma, or Kahler's disease, refers to a form of blood cancer that primarily affects the plasma cells. Some of the most common types of multiple myeloma drugs include chemotherapeutic agents, corticosteroids and immunomodulatory agents. These pharmaceutical drugs aid in promoting bone healing, prevent hypercalcemia, bone fracture, spinal cord compression and anemia, while minimizing the need for chemotherapy. The chemotherapeutic agents include various anthracycline antibiotics and alkylating agents, such as melphalan, doxorubicin, vincristine and liposomal doxorubicin. The targeted therapy drugs include proteasome inhibitor, such as bortezomib, and various other compounds, including dexamethasone, prednisone and thalidomide.

Significant developments in the healthcare sector, along with the increasing prevalence of hematological cancer, is one of the key factors driving the growth of the market. Multiple myeloma is usually caused by specific genetic abnormalities, and the treatment of this disease involves drugs that modulate the immune system and aid in enhancing the efficiency of chemotherapies, radiation therapies, stem cell transplants and platelet transfusion. Furthermore, rising consumer awareness regarding the benefits of biologic therapy drugs, which utilize the body’s immune system to identify and attack the myeloma cells, is also providing a boost to the market growth. Additionally, various technological advancements, such as the development of microRNA therapeutics and nanomedicines for the treatment of multiple myeloma, is acting as another growth-inducing factor. These medicines are used to facilitate the delivery of macromolecular agents into the bone marrow and catalyze antitumor responses. Other factors, including the rising healthcare expenditures and extensive research and development (R&D) activities in the field of medical sciences, are projected to drive the market further. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global multiple myeloma drugs market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on therapy, drug type, end-user and distribution channel.

Breakup by Therapy:

• Targeted Therapy
• Biologic Therapy
• Chemotherapy
• Others
   

Breakup by Drug Type:

• Immunomodulatory Drugs
• Proteasome Inhibitors
• Histone Deacetylase Inhibitors
• Monoclonal Antibody Drugs
• Steroids
• Others
   

Breakup by End-User:

• Men
• Women
   

Breakup by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Amgen Inc., Bristol Myers Squibb, Daiichi Sankyo Co., Ltd., Sanofi-Aventis Groupe (Genzyme Corporation), Johnson & Johnson Services, Inc., Merck & Co., Inc., Novartis International AG, Pfizer Inc., PHARMA MAR, S.A., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., etc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global multiple myeloma drugs market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What has been the impact of COVID-19 on the global multiple myeloma drugs market?
• What is the breakup of the market based on the therapy?
• What is the breakup of the market based on the drug type?
• What is the breakup of the market based on the end-user?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global multiple myeloma drugs market and who are the key players?
• What is the degree of competition in the industry?