The market is expanding as a result of rising adoption of new cutting-edge techniques and an increase in the obese population. With the presence of both large and small players, the market for a number of significant companies is moderately fragmented. With companies such as Siemens Healthcare GmbH, Thermo Fisher Scientific Inc., and BD as the main market leaders for the U.S. multiple myeloma diagnostic market, the multiple myeloma diagnostic market is becoming more and more competitive.
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Data Bridge Market Research analyses that the U.S Multiple Myeloma Diagnostic Market is expected to grow at a CAGR of 5.40% in the of forecast period of 2023-2030. The market value is USD 6.36 billion in 2022, and it would grow upto USD 9.7 billion by 2030. Multiple myeloma is a type of blood cancer that affects plasma cells. The aging population and lifestyle factors have contributed to the rising incidence and prevalence of multiple myeloma in the United States. As the number of cases increases, the demand for effective diagnostic tools also grows.
Key Findings of the Study
Rising healthcare expenditure is expected to drive the market's growth rate
The rising healthcare expenditure in the U.S. is beneficial for the development and adoption of advanced diagnostic technologies and tests. This increased funding allows healthcare providers to invest in state-of-the-art diagnostic tools, leading to more accurate and efficient disease detection. Furthermore, improved reimbursement policies for diagnostic procedures offer financial incentives, encouraging healthcare providers to offer and utilize these advanced diagnostic solutions, ultimately enhancing patient care and outcomes.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Disease (Smouldering (Indolent) Multiple Myeloma, Active (Symptomatic) Multiple Myeloma, Solitary Plasmacytoma of the Bone, Extrameduallry Plasmacytoma, Light Chain Myeloma, Non-Secretory Myeloma and Rare Types of Myeloma), Test Type (Blood Tests, Urine Tests, Bone Marrow Tests and Genome Sequencing in Multiple Myeloma), Type (Devices and Consumables and Reagents), End User (Hospitals, Specialty Clinics, Academic and Research Institutes and Others), Distribution Channel (Retail Pharmacy and Drug Store, Hospital Pharmacy, Online Pharmacy, Others)
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Market Players Covered
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CareFusion (U.S.), C.R. Bard (U.S.), Straub Medical AG (U.S.), FlowJo LLC (U.S.), NeoGenomics Laboratories (U.S.), Helena Laboratories Corporation (U.S.), Bracco (Italy), ZYTOVISION GmbH (Germany), Adaptive Biotechnologies. (U.S.), BioVendor R&D (U.S.), TriVitron Healthcare (India), Eurofins Discovery (France), Quest Diagnostic Incorporated (U.S.)
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Data Points Covered in the Report
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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.
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Segment Analysis:
The U.S multiple myeloma diagnostic market is segmented on the basis of disease, test type, type, end user and distribution channel
- On the basis of disease, the U.S multiple myeloma diagnostic market is segmented into smouldering (indolent) multiple myeloma, active (symptomatic) multiple myeloma, solitary plasmacytoma of the bone, extrameduallry plasmacytoma, light chain myeloma, non-secretory myeloma and rare types of myeloma.
- On the basis of test type, the U.S 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 U.S multiple myeloma diagnostic market is segmented into devices and consumables and reagents
- On the basis of end user, the U.S multiple myeloma diagnostic market is segmented into hospitals, specialty clinics, academic and research institutes and others
- On the basis of distribution channel, the U.S multiple myeloma diagnostic market is segmented into retail pharmacy and drug store, hospital pharmacy, online pharmacy, others.
Major Players
Data Bridge Market Research recognizes the following companies as the major U.S multiple myeloma diagnostic market players in U.S multiple myeloma diagnostic market are NeoGenomics Laboratories (U.S.), Helena Laboratories Corporation (U.S.), Bracco (Italy), ZYTOVISION GmbH (Germany), Adaptive Biotechnologies. (U.S.), BioVendor R&D (U.S.)
Market Developments
- In 2022, Kite, a Gilead company entered an international strategic partnership with Aecellex for the joint development and commercialization of the T-cell therapy, CART-ddBCMA, to treat relapsed or refractory multiple myeloma patients.
- In 2022, FDA granted accelerated approval to Janssen Biotech's teclistamab-cqyv, a first bispecific B-cell maturation antigen (BCMA)-directed CD3 T-cell engager, for adult patients with relapsed or refractory multiple myeloma.
- In 2022, Bristol-Myers Squibb, a pharmaceutical company, announced that Japan’s Ministry of Health, Labour and Welfare has approved Abecma (idecabtagene vicleucel), a B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T cell immunotherapy, for the treatment of adult patients with relapsed or refractory (R/R) multiple myeloma.
- In 2021, U.S. Food and Drug Administration (FDA) had announced the approval of BCMA-targeted CAR T-Cell Therapy for the treatment of multiple myeloma.
- In 2021, AbbVie acquired the TeneoOne and its key immunotherapeutic asset for treating multiple myeloma named TNB-383B.
For more detailed information about the U.S. multiple myeloma diagnostic market report, click here – https://www.databridgemarketresearch.com/reports/us-multiple-myeloma-diagnostic-market
