Press Release

Jan, 18 2024

Unveiling Comprehensive Insights: Multiple Myeloma Diagnostic Market Explores Product Types and Categories for Strategic Advancements

The multiple myeloma diagnostic landscape encompasses essential components such as devices and consumables, including reagents. Categorized into multiple myeloma suppression and treatment, this market exhibits a strategic approach to address the complexities of the condition. Innovations in diagnostic devices and the availability of essential consumables contribute to effective management. The market's emphasis on diverse product types underscores its commitment to providing holistic solutions for accurate diagnosis and therapeutic interventions in multiple myeloma.

Access Full Report @ https://www.databridgemarketresearch.com/reports/north-america-multiple-myeloma-diagnostic-market

Data Bridge Market Research analyses that the North America Multiple Myeloma Diagnostic Market which was USD 3,732.64 million in 2022, is expected to reach USD 5,390.01 million by 2030, at a CAGR of 4.7% during the forecast period 2023 to 2030. The escalating prevalence of multiple myeloma is a key driver in the diagnostic market. The surge in disease incidence heightens the demand for diagnostic interventions, underscoring the market's essential role in addressing and managing the growing challenges associated with Multiple Myeloma.

Key Findings of the Study

North America Multiple Myeloma Diagnostic Market

Elderly demographic is expected to drive the market's growth rate

Demographic trends, specifically an aging population, significantly propel the multiple myeloma diagnostic market. As the elderly demographic expands, the susceptibility to multiple myeloma increases, necessitating more effective diagnostic solutions. The market's pivotal role lies in meeting the heightened demand for accurate and timely diagnostics, aligning with the healthcare needs of an aging population, and contributing to improved outcomes and management of multiple myeloma in this demographic segment.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Types (Multiple Myeloma Suppression and Multiple Myeloma Treatment), Type (Devices and Consumables and Reagents), Disease (Smouldering (Indolent) Multiple Myeloma, Active (Symptomatic) Multiple Myeloma, Solitary Plasmacytoma of the Bone, Extramedullary Plasmacytoma, Light Chain Myeloma, Non-Secretory Myeloma, Rare Types of Multiple Myeloma), Test Type (Blood Tests, Urine Tests, Bone Marrow Tests and Genome Sequencing in Multiple Myeloma), End User (Hospitals, Speciality Clinics, Homecare, Academic and Research Institutes, Others), Distribution Channel (Direct Tender, Retail Sales)

Countries Covered

U.S., Canada and Mexico in North America.

Market Players Covered

NeoGenomics Laboratories (U.S.), Helena Laboratories Corporation (U.S.), Bracco Diagnostic Inc. (Italy), Cytognos S.L. (Spain), ZYTOVISION GmbH (Germany), Adaptive Biotechnologies (U.S.), BioVendor Group (U.S.), TriVitron Healthcare (U.S.), Eurofins Scientific (Luxembourg), Quest Diagnostic Incorporated (U.S.), BD (U.S.), Invivoscribe, Inc. (U.S.), SkylineDx (Netherlands), Siemens Healthcare GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.) and Laboratory Corporation of America Holdings (U.S.), GenPath (U.S.)

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

The North America multiple myeloma diagnostic market is segmented on the basis of product types, disease, test type, type, end user, and distribution channel.

  • On the basis of product types, the North America multiple myeloma diagnostic market is segmented into multiple myeloma suppression and multiple myeloma treatment
  • On the basis of disease, the North America multiple myeloma diagnostic market is segmented into smouldering (Indolent) multiple myeloma, active (Symptomatic) multiple myeloma, solitary plasmacytoma of the bone, extramedullary plasmacytoma, light chain myeloma, non-secretory myeloma, and rare types of multiple myeloma
  • On the basis of test type, the North America multiple myeloma diagnostic market is segmented into blood tests, urine tests, bone marrow tests, and genome sequencing in multiple myeloma
  • On the basis of type, the North America multiple myeloma diagnostic market is segmented into devices and consumables, and reagents
  • On the basis of end user, the North America multiple myeloma diagnostic market is segmented into hospitals, speciality clinics, homecare, academic and research institutes, and others
  • On the basis of distribution channel, the North America multiple myeloma diagnostic market is segmented into direct tender, and retail sales

Major Players

Data Bridge Market Research recognizes the following companies as the North America multiple myeloma diagnostic market players in North America multiple myeloma diagnostic market are NeoGenomics Laboratories (U.S.), Helena Laboratories Corporation (U.S.), Bracco Diagnostic Inc. (Italy), Cytognos S.L. (Spain), ZYTOVISION GmbH (Germany), Adaptive Biotechnologies (U.S.).

North America Multiple Myeloma Diagnostic Market

Market Developments

  • In 2022, Telo Genomics Corp initiated the assessment of its TeloView platform by processing clinical samples. The primary objective is identifying individuals with multiple myeloma at elevated risk of developing treatment resistance. This strategic move reflects the company's commitment to advancing precision medicine in the context of multiple myeloma, potentially leading to more tailored and effective therapeutic approaches for patients facing the challenge of treatment resistance
  • In 2022, Sandoz launched a generic oncology medicine, lenalidomide, aligned with the latest European Society for Medical Oncology (ESMO) guidelines. This medication is indicated for various haemato-oncology conditions. Its availability extends to patients in 19 European countries, offering a cost-effective alternative while maintaining adherence to established medical standards for the specified oncological treatments outlined by ESMO guidelines
  • In 2022, Kite, a Gilead company, forged a global strategic collaboration with Arcellx for the collaborative advancement and commercialization of the T-cell therapy, CART-ddBCMA, designed for relapsed or refractory multiple myeloma patients. As part of this agreement, Arcellx committed an upfront payment of USD 225 million to Kite. The therapy is currently undergoing Phase I clinical investigation, marking a significant step in addressing challenging cases of multiple myeloma
  • In 2022, the FDA approved Janssen Biotech's teclistamab-cqyv, a groundbreaking bispecific B-cell maturation antigen (BCMA)-directed CD3 T-cell engager. This approval is specifically for adult patients contending with relapsed or refractory multiple myeloma. Teclistamab-cqyv represents a significant advancement in immunotherapy, offering a promising therapeutic option for those facing challenges in the treatment of this complex hematologic malignancy
  • In 2021, AbbVie acquired TeneoOne, securing the key immunotherapeutic asset TNB-383B for treating multiple myeloma. This bispecific antibody targets BCMA and CD3, harnessing the body's immune system to eliminate BCMA-expressing tumor cells. The acquisition followed a strategic partnership announced in February 2019 between AbbVie and TeneoOne for the development and commercialization of TNB-383B, with AbbVie exercising its acquisition right based on positive Phase I research interim results

Regional Analysis

Geographically, the countries covered in the North America multiple myeloma diagnostic market report are U.S., Canada and Mexico in North America.

As per Data Bridge Market Research analysis:

U.S. is the dominant country in the North America multiple myeloma diagnostic market during the forecast period 2023-2030

The U.S. dominates the multiple myeloma diagnostic market, driven by favorable reimbursement policies. This advantageous environment positions the market for lucrative growth from 2023 to 2030. The region's supportive reimbursement framework encourages innovation and investment in diagnostic solutions, contributing to its prominent role in addressing multiple myeloma. The forecasted period anticipates sustained expansion, highlighting the U.S. as a key player in advancing diagnostics for this medical condition.

For more detailed information about the North America multiple myeloma diagnostic market report, click here – https://www.databridgemarketresearch.com/reports/north-america-multiple-myeloma-diagnostic-market


Client Testimonials