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

 U.S. Multiple Myeloma Diagnostic Market Analysis and Size

The increasing obese population and rising adoption of new advanced techniques are increasing the market growth. Several major companies in the market are moderately fragmented due to the existence of large and small players. The  multiple myeloma diagnostic market is becoming more and more competitive with companies such as Siemens Healthcare GmbH, Thermo Fisher Scientific Inc., and BD as they are the main market leaders for U.S. multiple myeloma diagnostic market

Data Bridge Market Research analyses a growth rate in the multiple myeloma diagnostic market in the forecast period 2023-2030. The expected CAGR of multiple myeloma diagnostic market is tend to be around 5.40% in the mentioned forecast period. The market value is USD 6.36 billion in 2022, and it would grow upto USD 9.7 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 Diagnostic Market Scope and Segmentation

Market Definition

The diagnosis of multiple myeloma is characterized into three stages. Stage-1 indicates when multiple myeloma is low and is less aggressive, while stage-3 indicates that myeloma cells have grown out of control.  At stage-3, patients undertake chemotherapy and targeted radiotherapy. Multiple myeloma is a cancer of plasma cells. The normal plasma cells are an important part of the immune system. Diagnosis is necessary for fast treatment processes.

U.S. Multiple Myeloma Diagnostic Market Dynamics

Drivers

• Rising 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, around 0.76%. The American Cancer Society's estimates 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.  Therefore, this factor helps in the rising adoption of diagnosis, which boosts the treatment market's growth.

• Growing 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 incidence 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 witnessed that more than 2 in 5 adults have obesity. The U.S. obesity frequency was 41.9% in 2020. This increasing prevalence of obesity is helping in the growth of the disease, increasing the diagnosis rate. Thus, this boosts the market growth.  

Opportunities

• Increasing Prevalence of Elderly  Population and its Associated Diseases

Cancer is one of the most prominent death cause for the elderly population. There are currently 3 million people surviving with cancer in the U.K., rising to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Complications related with treating geriatric patients are boosting the demand for effective treatments, such as rebuilding methodology which includes transfusion of blood components and point of care progressions. Therefore, these factors are anticipated to fuel the market during the forecast period 2023-2030.

Restraints/Challenges

• High Cost of Diagnostic Procedures

Numerous diagnostic procedures are related to the disease, such as blood tests, urine tests and examination of bone marrow. In bone marrow and imaging tests, myeloma cells are detected via fluorescence in situ hybridization. These diagnostic process leads to an increased rate of cost. Thus, these factors restrict the market growth.

This multiple myeloma diagnostic 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 diagnostic 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 Diagnostic Market Scope

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

Test Type

• Blood Tests
• Urine Tests
• Bone Marrow Tests
• Genome Sequencing in Multiple Myeloma

Type

• Devices
• Consumables and Reagents

End User

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

Distribution Channel

• Retail Pharmacy & Drug Store
• Hospital Pharmacy
• Online Pharmacy
• Others

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

The multiple myeloma diagnostic 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 diagnostic market.

Key players operating in the multiple myeloma diagnostic market include:

• 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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