Multiple Myeloma Treatment Market to grow 4.2% CAGR during the Forecast Period 2022 to 2030

Pune, India, July 2022/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global multiple myeloma treatment market   

Market Highlights:

The multiple myeloma treatment market is anticipated to worth USD 26.5 billion at a CAGR of 4.2% during the forecast period 2022-2030.

Multiple myeloma is a type of cancer formed due to malignant plasma cells. Plasma cells are found in the bone marrow and are an important part of the immune system. Multiple myeloma causes cancer cells to accumulate in the bone marrow, where they attack the healthy blood cells. These malignant plasma cells then produce abnormal proteins which may cause a tumor, damage the kidneys, and impair immune system function. The global multiple myeloma market is mainly driven by an increase in aging population, increase in healthcare expenditure, and increased penetration of novel cancer drugs, whereas key players in the market are engaged in the innovation of new cancer products, trends of combination therapies, and the chance of new players. Despite the drivers, factors such as the high cost of treatment, limited target patient population and the high cost of radiotherapeutic equipment and the chemotherapy process may hamper the growth of the market during the forecast period.

The global multiple myeloma treatment market is dominated by many market players. The key players in the market are engaged in new launches of drug and devices to maintain the strategic collaborations to hold its market position.

Regional Analysis:

The market in the Americas is expected to dominate the global multiple myeloma treatment market during the forecast period owing to the increase in the prevalence of blood cancer, the rise in geriatric population, unhealthy lifestyle, growth in demand of biologic therapies, and the emergence of nanomedicine drive the market. Additionally, the growing incidences of cancer associated with the aging population are anticipated to boost the growth of the market in this region, whereas North America holds the highest share of global multiple myeloma treatment market due to increasing investment by government in research and development activity on diagnosis management of myeloma disorder. The European market is expected to be the second-largest due to government funding, and support of the healthcare sector coupled with the growing incidence of elderly patients, growing prevalence of myeloma disease along with the surging elderly population is the prime factor expected to drive the growth significantly in this region.

Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to increase in aging population, rising obese population, increase in healthcare expenditure and increased penetration of novel cancer drugs in this region. The market in the Middle East & Africa is likely to account for the smallest share of this market. The market growth in this region can be attributed to increasing healthcare expenditure and developing healthcare infrastructure.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Multiple Myeloma Treatment Market Research Report

Segmentation:

Global multiple myeloma treatment is further segmented into treatment types and end-users. Based on treatment types the market is segmented into chemotherapy, corticosteroids, interferon, stem cell transplant, and radiation therapy. Chemotherapy is further sub-segmented into bendamustine (treanda), cyclophosphamide (Cytoxan), doxorubicin (adriamycin), etoposide (vp-16), liposomal doxorubicin (Doxil), melphalan (Alkeran, evomela), vincristine (Oncovin). On the basis of end-user global multiple myeloma treatment market is further segmented into hospitals, clinics, rehabilitative center treatment, independent pharmacies, and others.

Key Players:

Some of the key players in the global multiple myeloma treatment market are Celgene Corporation,

Janssen Biotech, Inc., Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Amgen, Inc., Genzyme Corporation, Juno Therapeutics, Johnson & Johnson, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, AbbVie Inc., Novartis AG, Innate Pharma SA, and Celldex Therapeutics, Inc., Onyx Pharmaceuticals, Pfizer, Takeda Pharmaceuticals.