The latest market report published by Credence Research, Inc. “Global Multiple Myeloma Treatment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025,” the Multiple Myeloma Treatment market was valued at USD 8,398.3 Mn in 2016, and is expected to reach USD 21,221.8 Mn by 2025, expanding at a CAGR of 11.0% from 2017 to 2025.
Browse the full report Multiple Myeloma Treatment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025 at http://www.credenceresearch.com/report/multiple-myeloma-treatment-market
Multiple myeloma treatment options have developed significantly over the last decade. Novel multiple myeloma treatments have provided efficient survival rates among myeloma patients. It has been also observed that the upcoming drug pipeline of multiple myeloma is promising, biological drugs and stem cell based therapies are expected to drive the market in the near future. The key players operating in this industry are accelerating the research and development activities for future multiple myeloma treatment, but by customizing treatments based on a patient’s genome. According to Multiple Myeloma Research Foundation, multiple myeloma typically occurs in bone marrow specifically located in the spine, pelvic bones, ribs, and area of the shoulders and hips. Moreover, groups of myeloma cells force other cells in the bone marrow to remove the solid part of the bone and cause osteolytic lesions or soft spots in the bone, resulting in weakened bones and increasing the risk of fractures.
In year 2016, drugs therapy is expected to be the largest market due to key driving factors such as most convenient mode of treatment, rising demand for non-invasive treatments, and incessant development in research and development activities are expected to bring target specific drug therapies. During forecast period 2017 – 2025, stem cell transplantation therapies segment is expected to be the fastest growing segments as approved personalized cellular therapy for advanced leukemia named chimeric antigen receptor (CAR) T-cell therapy is under clinical trials for multiple myeloma and its approval is expected to boost the growth of multiple myeloma treatment market in the near future.
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North America accounted for the largest share in global multiple myeloma treatment market due to key driving factors such as rising prevalence of multiple myeloma, high awareness associated with early cancer diagnosis and treatment, supportive reimbursement policies, and developed healthcare infrastructure. During the forecast period Asia Pacific is expected to project exponential growth due to rising awareness associated with the early cancer diagnosis, and developing healthcare infrastructure is responsible of high accessibility to modern technology.
Market Competition Assessment:
The multiple myeloma treatment market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Celgene Corporation, Janssen Biotech, Inc., Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Amgen, Inc., Genzyme Corporation, Juno Therapeutics, among others.
Key Market Movements:
- Rising prevalence of multiple myeloma in developing countries is assisting the growth of drug therapy
- Recent launch of launch of monoclonal antibodies (mAbs) Empliciti and daratumumab along with strong pipeline
- High awareness associated with early cancer diagnosis and availability of advanced diagnostic techniques such as imaging devices and personalized diagnostic tests