Global Multiple Myeloma Therapeutics Market to Reach $66.9 Billion by 2030
The global market for Multiple Myeloma Therapeutics estimated at US$25.7 Billion in the year 2023, is projected to reach a revised size of US$66.9 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2023-2030. Chemotherapy & Other Drugs, one of the segments analyzed in the report, is expected to record a 15.4% CAGR and reach US$37.6 Billion by the end of the analysis period. Growth in the Radiation Therapy segment is estimated at 14.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.9 Billion, While China is Forecast to Grow at 19.8% CAGR
The Multiple Myeloma Therapeutics market in the U.S. is estimated at US$6.9 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$16 Billion by the year 2030 trailing a CAGR of 19.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.6% and 12.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 11.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.3 Billion by the year 2030.Report Features
- Full access to influencer engagement stats
- Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
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- Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
- Complimentary report updates for one year
- Competitor coverage with global market shares of major players
- Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
- Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes
What to Expect from the Global Economy in 2024
Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.Select Competitors (Total 49 Featured):
- Amgen, Inc.
- Bristol-Myers Squibb Company
- Bristol-Myers Squibb Company
- Celgene Corporation
- Janssen Biotech, Inc.
- Juno Therapeutics, Inc.
- Kesios Therapeutics Ltd.
- Novartis International AG
- Sanofi Genzyme
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Executive Summary
Multiple Myeloma, a lethal but less common type of blood cancer results in eventual patient relapses even after therapy, and is universally considered as fatal. More than 181,000 individuals suffered from the condition across major regions worldwide, including the US, EU, and Japan in the year 2010, with an estimated 52,000 new cases diagnosed during the year. The condition primarily affects the aged, given the average age of disease onset at around 70 years. Stem cell therapy has been available for treating the condition for several years, and novel drugs that forayed into the market over the years have largely been effective. However, the stem cell transplantation has been more fruitful in younger patient population, and high unmet needs existed for long in high-risk patients. The subsequent launch of new drug agents, such as thalomide, bortezomib, and lenalidomide have succeeded in making a substantial impact on the treatment outcomes in patients of all age groups.The US represents the largest regional market for multiple myeloma therapeutics worldwide, as stated by the new market research report on Multiple Myeloma Therapeutics. Europe remains the second largest market for multiple myleoma therapeutics worldwide. However, Rest of World, which includes markets such as Canada, Asia-Pacific, Latin America, Africa, and the Middle East, is forecast to garner the fastest growth during the analysis period. Japanese market is projected to tread at a compounded annual growth rate of close to 10% during the analysis period.
Revlimid’s approval for use as a drug in the first line treatment of multiple myeloma has sparked a new momentum for the sales of this drug. Consequently, Revlimid is expected to cannibalize significant share of Velcade in the myeloma therapy market in value terms as well as in terms of the drug’s share in number of patients using the drug. However, the cannibalizing effect is expected to be more profound in case of Thalomid when compared to Velcade. Despite this threat, sales of Velcade and Revlimid are expected to increase, specifically in the patient segment with relapsed/refractory forms of myeloma.
Major players profiled in the report include Amgen Inc, Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd, Genentech Inc., Janssen Biotech Inc, Millennium Pharmaceuticals, Seattle Genetics, Ziopharm Oncology Inc., among others.
The research report titled “Multiple Myeloma Therapeutics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the multiple myeloma therapeutics markets, current market trends, key growth drivers, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Multiple Myeloma Therapeutics market for the years 2009 through 2017 for the following geographic markets - US, Japan, Europe, and Rest of World. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
Global Industry Analysts ©
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Amgen, Inc.
- Bristol-Myers Squibb Company
- Bristol-Myers Squibb Company
- Celgene Corporation
- Janssen Biotech, Inc.
- Juno Therapeutics, Inc.
- Kesios Therapeutics Ltd.
- Novartis International AG
- Sanofi Genzyme
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 293 |
| Published | May 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 25.7 Billion |
| Forecasted Market Value ( USD | $ 66.9 Billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
