Multiple Myeloma Therapeutics Market Report

Multiple Myeloma Therapeutics Market Analysis, By Therapy Type (Chemotherapy And Other Drugs, Radiation, Stem Cell Transplant, Other Supportive Treatments), And Segment Forecasts, 2014 - 2024

Published: November 2016  |  80 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-087-3

Industry Insights

The global multiple myeloma therapeutics market was valued at USD 7.5 billion in 2015 and is projected to grow at a CAGR of 16.6% over the forecast period. The high growth is anticipated on account of the approval attained for the newer drugs in the market. In addition, limited efficiency of the available drugs and growing prevalence of the condition along with increasing geriatric population are the factors expected to provide a huge platform for new drug development.

Multiple myeloma has been the third-most prevalent blood cancer across the world in the last decade. Advanced diagnostic techniques such as imaging devices and personalized diagnostic tests are available to facilitate the diagnostic process. However, the complexity, inefficiency, and high costs of the currently available therapeutic options demand advanced methods, which would significantly increase thelifespan of the multiple myeloma patients.

Multiple Myeloma Therapeutics Market, USD Million, 2014 - 2024

Multiple Myeloma Therapeutics Market

The majority of multiple myeloma patients belong to the age group of 60-70 years. The geriatric population pool is expanding with increasing life expectancy. Variations in response of the aged people to medication make it difficult for oncologists to determine the appropriate dose regimen. Additionally, procedures such as stem cell transplants cannot be performed on physically weak patients. This scenario requires the development of targeted drugs, such as immunomodulation agents and monoclonal antibodies,which have a lesser deteriorating impact on patient health.

Therapy Type Insights

Chemotherapy and other drugs segment dominated the segment with the largest revenue share. Unavailability of alternatives and limitations of surgical procedures are the factors driving the focus of oncologists toward chemotherapy fortreating multiple myeloma. Several pipeline drugs undergoing phase III clinical trials with positive clinical outcomes are expected to engender a surge in the industry growth upon the launch of these novel drugs during the forecast period.

Stem cell transplant and radiation therapies include the first line therapy for multiple myeloma. However, the associated demerits including complications in stem cell transplant procedures and limited applications of radiation methods are driving the oncologists preference towards multi-therapy regimens, which include combination of chemotherapy, radiation, and other supportive treatments based on patient response and symptoms.

Immunomodulation agents dominated the chemotherapy and other drugs segment, while the monoclonal antibodies segment is expected to grow at the fastest CAGR. The chemotherapy and other drugs segment includes traditional chemotherapy, immunomodulating agents, proteasome inhibitors, Histone deacetylase (HDAC) inhibitors, and monoclonal antibodies. Immunomodulating agents currently dominated the segment by capturing majority of the industry share.

Adoption of Celgene’s Revlimid (Lenalidomide) and Pomalyst (Pomalidomide) immunomodulating drugs with high efficiency is expected to drive the sector growth during the forecast period. Recent introduction of monoclonal antibodies, such as Empliciti by Bristol-Myers Squibb and Darzalex by Janssen Biotech, Inc., are expected to render the fastest growth to the segment.

Regional Insights

North America is dominating the global multiple myeloma therapeutics market. Presence of large companies and high adoption rate for newer treatment options are the factors contributing to the dominance of the region. Due to the large patient base and growing adoption of novel therapy approaches in the region, the Asia Pacific is expected to witness the fastest growth during the forecast period. Additionally, growing efforts by the government andnon-government organizations to increase patient cognizance of the newer treatment options are exerting a positive impact in supporting the emergence of this vertical.

Global Multiple Myeloma Therapeutics Market, by Region, 2015

Global Multiple Myeloma Therapeutics Market

Competitive Insights

The multiple myeloma therapeutics is a consolidated market. Celgene Corporation accounts for a large company share with its high revenue generating drugs, Revlimid and Pomalyst. Other major players include Janssen Biotech, Inc., Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Amgen, Inc., Genzyme Corporation, and Juno Therapeutics. Most of the companies are focusing on developing combination drug therapies along with the development of new drugs.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historic data

2014 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, India, Brazil, Mexico, and South Africa.

Report coverage             

Revenue, company share, competitive landscape, growth factors, trends

15% free customization scope: Equivalent to 5 analyst working days

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization.

 

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the multiple myeloma therapeutics market on the basis of type and region:

  • Type Outlook (Revenue, USD Billion, 2014 - 2024)
    • Chemotherapy and other drugs

      • Traditional chemotherapy

      • Immunomodulating agents

      • Proteasome inhibitors

      • Histone Deacetylase (HDAC) inhibitors

      • Monoclonal Antibodies

    • Radiation

    • Stem cell transplant and supportive treatment

  • Regional Outlook (Revenue, USD Billion, 2014 - 2024)
    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

      • South Africa

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $4,950
Multi User - $5,950
Library Access - $7,950

Buy Chapters or Sections

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA