Global Multiple Myeloma Therapeutics Market Size, Share, Growth Analysis, By Treatment type, By Distribution Channel

Description

Global Multiple Myeloma Therapeutics Market size was valued at USD 26.69 billion in 2022 and is poised to grow from USD 28.42 billion in 2023 to USD 47.04 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

The global market for multiple myeloma therapeutics has experienced remarkable growth in recent years, driven by several key factors. This complex hematological cancer, which disrupts bone marrow function and leads to abnormal plasma cell proliferation and bone fragility, has seen increased attention due to the aging population and a greater understanding of its molecular mechanisms within the global health community. Advances in scientific research have paved the way for the development of targeted therapies, including stem cell transplants, immunomodulatory drugs, proteasome inhibitors, chemotherapy, monoclonal antibodies, and supportive care measures. Pharmaceutical companies are heavily investing in novel treatments and personalized care approaches, intensifying competition in the industry. Collaborations between pharmaceutical firms, biotech companies, and research institutions have yielded innovative therapies with improved efficacy and reduced side effects, such as monoclonal antibodies and CAR-T cell therapies, heralding a significant leap forward in treatment options.

Top-down and bottom-up approaches were used to estimate and validate the size of the Multiple Myeloma Therapeutics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Multiple Myeloma Therapeutics Market Segmental Analysis

By Treatment type, the market is segmented into Chemotherapy and other drugs, Traditional chemotherapy, Immunomodulating agents, Proteasome inhibitors, Histone Deacetylase (HDAC) inhibitors, Monoclonal Antibodies, Radiation, Stem cell transplant and supportive treatment. Retail Pharmacies & Drug Stores, Hospital Pharmacies and Online Pharmacies are the market segments we end up with when division by distribution channel occurs. If we split the market by region, we will be left with the following sectors: North America, Middle East and Africa, Europe, Asia Pacific, and Latin America.

Drivers of the Multiple Myeloma Therapeutics Market

Advancements in Treatment Options have significantly propelled the multiple myeloma therapeutics market forward, with the introduction of innovative medications such as monoclonal antibodies, proteasome inhibitors, and immunomodulatory drugs (IMiDs). These novel therapies, designed to target cancer cells while minimizing harm to healthy cells, have substantially enhanced treatment efficacy, prolonged patient survival rates, and enhanced post-therapy quality of life. Additionally, the Growing Aging Population has contributed to the market's expansion, as older individuals are more susceptible to multiple myeloma, thus increasing demand for efficient treatment options

Restraints in the Multiple Myeloma Therapeutics Market

High Treatment Costs present a notable restraint, as some therapies remain prohibitively expensive, particularly in regions with limited access to healthcare or lower economic status, potentially limiting the adoption of advanced treatments. Moreover, the Complex Disease Characteristics of multiple myeloma, including its genetic and molecular heterogeneity, pose challenges in developing personalized treatment plans tailored to individual patient needs, which could impede the market's growth.

Market Trends of the Multiple Myeloma Therapeutics Market

Key Market Trends include the ongoing focus on Advancements in Targeted Therapies and Immunotherapies, aiming to minimize the side effects associated with traditional chemotherapy by directly targeting cancer cells. Additionally, there's a growing emphasis on Personalized Medicine and Biomarker-driven Approaches, leveraging genetic profiling and biomarkers to identify patient subgroups most likely to benefit from specific treatments, thus optimizing therapeutic outcomes.

Product Code: SQMIG35I2237

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Multiple Myeloma Therapeutics Market by Treatment type

Market Overview
Chemotherapy and other drugs
Traditional chemotherapy
Immunomodulating agents
Proteasome inhibitors
Histone Deacetylase (HDAC) inhibitors
Monoclonal Antibodies
Radiation
Stem cell transplant and supportive treatment

Global Multiple Myeloma Therapeutics Market by Distribution Channel

Market Overview
Retail Pharmacies & Drug Stores
Hospital Pharmacies
and Online Pharmacies

Global Multiple Myeloma Therapeutics Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Johnson & Johnson (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Celgene Corporation (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Amgen Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Janssen Pharmaceuticals, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bristol Myers Squibb Company (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Onyx Pharmaceuticals, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Merck & Co., Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Karyopharm Therapeutics Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GlaxoSmithKline plc (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sanofi (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Takeda Pharmaceutical Company Limited (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bluebird Bio, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Daiichi Sankyo Company, Limited (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Genmab A/S (Denmark)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AbbVie Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Seattle Genetics, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Novartis AG (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
MorphoSys AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kite Pharma, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Millennium Pharmaceuticals, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
PharmaMar, S.A. (Spain)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Celldex Therapeutics, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kyowa Kirin Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Poseida Therapeutics, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Glenmark Pharmaceuticals Ltd. (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Multiple Myeloma Therapeutics Market Size, Share, Growth Analysis, By Treatment type, By Distribution Channel - Industry Forecast 2023-2030