U.S. Multiple Myeloma Drugs Market– Industry Trends and Forecast to 2030

 U.S. Multiple Myeloma Drugs Market Analysis and Size

Increase in R&D investment in the recent past have slowly increased the potential drugs candidate in the pipeline which is anticipated to drive the multiple myeloma drugs market in the forecast period 2023-2030. The  market is becoming more and more competitive with companies such as Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, and BD as they are the main market leaders for U.S. multiple myeloma drugs market.

Data Bridge Market Research analyses a growth rate in the multiple myeloma drugs market in the forecast period 2023-2030. The expected CAGR of multiple myeloma drugs market is tend to be around 15% in the mentioned forecast period. The market was valued at USD 1.79 billion in 2022, and it would grow upto USD 5.5 Billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

U.S. Multiple Myeloma Drugs Market Scope and Segmentation

Market Definition

Multiple myeloma drugs are useful in promoting bone healing, prevent hypercalcemia, spinal cord compression, bone fracture, and anemia, while decreasing the need for chemotherapy. Some of the most common types of multiple myeloma drugs includes corticosteroids, chemotherapeutic agents, and immunomodulatory agents. Multiple myeloma is a type of cancer of plasma cells. The normal plasma cells are a vital part of the immune system. Diagnosis is necessary for fast treatment processes.

U.S. Multiple Myeloma Drugs Market Dynamics

Drivers

• Increasing Prevalence of Multiple Myeloma

Multiple myeloma is comparatively a very uncommon cancer. In the U.S., the risk of getting multiple myeloma is 1 in 132 which is about 0.76%. The American Cancer Society shows that around 35,730 new cases will be diagnosed which is 19,860 in men and 15,870 in women for multiple myeloma in the U.S. for 2023.  Thus, this factor helps in the rising adoption of treatment which boost the growth of the treatment market.

• Launch of Monoclocal Antibodies With Safety Profile

The growing microRNA therapeutics, nanomedicine platform emergence, and constant introduction of effective and safe therapeutics boosts the growth of multiple myeloma drugs market. The drugs market is anticipated to gain growth with the addition of monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors to the current therapeutics array. The biologic therapy of monoclonal antibodies including DARZALEX and EMPLICITI are majorly preferred by the physicians due to the established clinical profile. Thus, it boost the market growth.

Opportunities

• Collective Prevalence of Elderly Population and its Associated Diseases

Cancer is one of the most vital death cause for the elderly population. As per the records of WHO, cancer is the ultimate reason of deaths worldwide, registering about 11.8 million deaths in 2020. Globally, around 1 of every 6 deaths is because of cancer. Complications associated with treating geriatric patients are increasing the demand for effective treatments, such as rebuilding methodology which includes transfusion of blood components and point of care progressions. Therefore, these factors are estimated to fuel the market during the forecast period 2023-2030.

• Rising Demand of Intravenous Segment

The intravenous segment is dominating in the market because of the presence of huge opportunities, growing investments in the healthcare sector, cost-effective nature, increase in permeation of the market, upcoming multiple myeloma cancer research institutes and huge improvements in several healthcare organizations. Thus, this factor boost the market growth.

• Increasing Cases of Obesity

Obesity-related conditions includes stroke, type 2 diabetes, heart disease, and certain types of cancer. These are among the top causes of preventable, premature death. The obesity occurrence was around 39.8% among adults aged 20 to 39 years, 44.3% among adults aged 40 to 59 years, and 41.5% among adults aged 60 years and above. It has been observed that more than 2 in 5 adults have obesity. The U.S. obesity frequency was around 41.9% in 2020. This increasing prevalence of obesity is helping in the growth of the disease which in turn increases the diagnosis rate. Thus, this boosts the market growth. 

Restraints/Challenges

• High Cost of Drugs Procedures

There are various drugs that are associated with the disease such as targeted therapy and chemotherapy. The targeted therapy drugs include proteasome inhibitor, such as bortezomib, and various other compounds, including prednisone, dexamethasone, and thalidomide. These drugs process leads to the increased rate of cost. Thus, these factors restrict the market growth.

This multiple myeloma drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the multiple myeloma drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

U.S. Multiple Myeloma Drugs Market Scope

The multiple myeloma drugs market is segmented on the basis of disease, therapy, mechanism of action, brands, drug type, route of administration, end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Disease

• Smouldering (Indolent) Multiple Myeloma
• Active (Symptomatic) Multiple Myeloma
• Solitary Plasmacytoma of the Bone
• Extrameduallry Plasmacytoma
• Light Chain Myeloma
• Non-Secretory Myeloma
• Rare Types of Myeloma

Therapy

• Immunotherapy
• Chemotherapy
• Corticosteroids
• Others

Mechanism of Action

• Proteasome Inhibitor
• Monoclonal Antibodies
• Immunomodulatory Agents
• Histone Deacetylase Inhibitors
• Others

Brands

• Darzalex
• Ninlaro
• Revlimod
• Velcade
• Empliciti
• Venclexta
• Others

Drug Type

• Branded
• Generic

Route of Administration

• Intravenous
• Oral
• Subcutaneous
• Intramuscular
• Intra-Arterial
• Others

End User

• Hospitals
• Specialty Clinics
• Academic & Research Institutes
• Others

Competitive Landscape and U.S. Multiple Myeloma Drugs Market Share Analysis

The multiple myeloma drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, U.S. presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to multiple myeloma drugs market.

Key players operating in the multiple myeloma drugs market include:

• Sanofi (France)
• Pfizer Inc. (U.S.)
• GSK plc (UK)
• Novartis AG (Switzerland)
• AbbVie Inc. (U.S.)
• CareFusion (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 Drugs Incorporated (U.S.)
• Takeda Pharmaceutical Company Limited (Japan)

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