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HEALTHCARE & PHARMACEUTICAL

Multiple Myeloma Treatment Drugs Market Segmentation by Drug Class (Proteasome Inhibitors, Immunomodulatory Drugs, Steroids, Monoclonal Antibodies and Others); by Therapy (Immunotherapy, Chemotherapy, Radiation Therapy and Stem Cell Transplant); and by Distribution Channel (Hospital, Retail and Online Pharmacies) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Multiple Myeloma Treatment Drugs Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Multiple Myeloma Treatment Drugs Market Highlights 2020-2029

The global multiple myeloma treatment drugs market is expected to grow at a robust CAGR during the forecast period, i.e., 2021-2029. Rising number of multiple myeloma cases in the recent years is one of the major factors anticipated to boost the growth of the market. Our analysis reveals that in 2021, more than 34,000 adults in the United States are expected to be diagnosed with multiple myeloma cancer, up from 32,200 in 2020. In addition to this, the major factors that cause multiple myeloma cancerous growth are obesity, excessive exposure to radiation, ethnicity, increasing age and family history of this disease. Our analysis depicts that African Americans are more likely to develop multiple myeloma than Caucasians, with an incidence rate of 9 per 100,000 people as compared to 3.5 per 100,000 people of white ethnicity.

Multiple Myeloma Treatment Drugs Market

The market is segmented on the basis of drug class into proteasome inhibitors, immunomodulatory drugs, steroids, monoclonal antibodies, and others, out of which, the segment for immunomodulatory drugs is estimated to garner the largest market share in the year 2021 on account of their proven success to offer positive treatment rates. On the other hand, the proteasome inhibitors segment is expected to witness significant CAGR over the forecast period owing to the increasing effectiveness of these drugs for efficient anti-cancer treatment. Likewise, based on therapy, the chemotherapy segment is projected to grow with a noteworthy CAGR during the forecast period as several chemo-drugs are known to show more favorable outcomes as compared to treatment drugs of other multiple myeloma therapies. Furthermore, in terms of distribution channel, the hospital pharmacies segment is evaluated to occupy the largest market share by the end of 2029 as drugs can be easily prescribed, purchased and scrutinized in the healthcare facility itself.

Global Multiple Myeloma Treatment Drugs Market Regional Synopsis

The global multiple myeloma treatment drugs market is segmented into five major regions, namely, North America, Latin America, Europe, Asia Pacific and the Middle East & Africa. The market in the North America is projected to grab the largest market share in 2021 and is expected to continue this trend over the forecast period on the back of increasing adoption of various types of cancer medication and continued advancements in the healthcare sector. Along with these, rising patient-pool is leading to an increase in demand for these treatment drugs, which is also anticipated to contribute to the growth of the market in the region. Similarly, the market in the Asia Pacific is estimated to acquire a notable share during the forecast period and can be attributed to the increasing prevalence of this disease in Asian countries, namely, Thailand, Taiwan and Korea. Government’s openness to adopt new therapies is also expected to drive the market growth in this region. Europe is also anticipated to witness significant market growth as a result of favorable regulatory changes regarding approval of new cancer medication in the recent years.

The global multiple myeloma treatment drugs market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Netherlands & Luxembourg, NORDIC, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global multiple myeloma treatment drugs market includes the following segments:

By Drug Class

  • Proteasome Inhibitors
  • Immunomodulatory Drugs
  • Steroids
  • Monoclonal Antibodies
  • Others

By Therapy

  • Immunotherapy
  • Chemotherapy
  • Radiation Therapy
  • Stem Cell Transplant

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Growth Drivers

  • Growing Prevalence of Multiple Myeloma
  • Rising Obese Population
  • Increased Penetration of Cancer Drugs

Challenges

  • High Cost of Multiple Myeloma Treatment
  • Lack of Awareness regarding Cancer Treatment in Lower Economic Nations

Top Featured Companies Dominating the Market

  • Bristol-Myers Squibb Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amgen Inc.
  • Johnson & Johnson Services, Inc.
  • Daiichi Sankyo Company, Limited
  • Merck Sharp & Dohme Corp.
  • Pfizer Inc.
  • F. Hoffmann-La Roche Ltd
  • Sanofi-aventis Groupe
  • Novartis International AG
  • Pharma Mar, S.A.

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