The global multiple myeloma drugs market is anticipated to grow at a CAGR of nearly 5.2% during the forecast period (2022-2028). Multiple myeloma is an uncommon type of blood cancer in which abnormal plasma cells build up in the bone marrow and form tumors in many bones of the body. This form of cancer prevents the bone marrow from making enough healthy blood cells, which can lead to low blood counts. Myeloma can also damage the bones and the kidneys and weaken the immune system. The demand for multiple myeloma drugs is likely to grow in the future years owing to the growing prevalence of myeloma. According to the National Cancer Institute, in the US, myeloma accounted for approximately 1.8% (32,000) of all new cancer cases in 2020. Further, as per the statistics published by Cancer Network, in 2016, there were about 130,000 cases of multiple myeloma.
Some key players operating in the market include Amgen Inc., Bristol-Myers Squibb Co., and Daiichi Sankyo Co., Ltd., among others. The market growth is also attributable to the growing approvals for multiple myeloma drugs from authorities such as FDA. These approvals provide a new treatment option for patients who have this uncommon type of cancer. For instance, in March 2021, the US FDA had approved Abecma (idecabtagene vicleucel), a cell-based gene therapy to treat adult patients with multiple myeloma who have not responded to, or whose disease has returned after, at least four prior lines (different types) of therapy. Abecma is the first cell-based gene therapy approved by the FDA for the treatment of multiple myeloma.
In February 2021, The Food and Drug Administration approved a potential new blood cancer treatment, clearing a personalized cell therapy. It is developed by Johnson & Johnson and China’s Legend Biotech for use in multiple myeloma. It will be sold by these companies as Carvykti in the US and is the new CAR-T therapy to win FDA approval. Developed from patients’ immune cells, CAR-T treatments are complex to manufacture and costly to administer, however, it can drive long-lasting remissions for certain patients who have few or no other options.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Therapy
By Drug Type
Regions covered-
North America
Europe
Asia-Pacific
Rest of the World
Top Major Key Players:
Amgen Inc., Bristol-Myers Squibb Co., and Daiichi Sankyo Co., Ltd., among others.
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Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How are players addressing challenges to sustain growth?
Where is the investment opportunity?
Global Multiple Myeloma Drugs Market Report by Segment
By Therapy
Targeted Therapy
Biologic Therapy
Chemotherapy
By Drug Type
Proteasome Inhibitors Drugs
Monoclonal Antibody Drugs
Histone Deacetylase Inhibitors
Immunomodulatory Drugs
Others
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