Pune, April 29, 2020 (GLOBE NEWSWIRE) -- The global multiple myeloma market size is projected to reach USD 31 billion by the end of 2026. The high prevalence of the disease will emerge in favor of the companies operating in the market. According to a report published by Fortune Business Insights, titled “Multiple Myeloma Market Size, Share & Industry Analysis, By Drug Class (Immunomodulators, Proteasome Inhibitor, Anti-CD38 Monoclonal Antibody, Alkylating Agents, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies), and Regional Forecast, 2019-2026,” the market was worth USD 19.48 billion in 2018 and will exhibit a CAGR of 6.0% during the forecast period, 2019-2026.
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Multiple myeloma is a rare form of cancer that has a direct impact on the blood in the human body. Due to the effects of blood disorders, there has been a huge emphasis on the development of drugs associated with the treatment of the disease. The increasing investment in the R&D of products by large scale companies across the world will bode well for the market in recent years. Advances in ongoing clinical trials associated with the treatment of the disease, will open up a huge potential for the companies operating in the market. The presence of several large scale companies will bode well for the market in the foreseeable future.
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Increasing Investment in Product R&D Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, high investment in research and development of newer products has made a huge impact on the growth of the overall market. In April 2019, the ‘Multiple Myeloma Research Foundation’ announced the launch of a new investment fund for the treatment options in multiple myeloma. The MMRF introduced ‘Myeloma Investment Fund’ foe the development of clinical trials of ongoing drugs associated with the treatment of the disease. This investment will have a massive impact on the growth of the overall market in the coming years.
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North America Currently Dominates the Market; Increasing Investment in Product R&D by Major Companies to Aid Growth
The report analyzes the ongoing multiple myeloma market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America currently dominates the market. The high investment put in by government and leading organizations will bode well for the market in North America. As of 2018, the market in North America was worth USD 11.40 billion and this value is projected to increase further in the coming years. The market in Europe will emerge as the second largest market in the coming years, driven by the presence of several large scale companies in several countries across this region.
List of the leading companies that are operating in the global multiple myeloma market include:
• Takeda Pharmaceutical Company Limited
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• Bristol Myers Squibb Company
• Amgen Inc.
• ONO PHARMACEUTICAL CO., LTD.
• Janssen Pharmaceuticals, Inc.
• Genentech, Inc. (F. Hoffmann-La Roche Ltd)
• CELGENE CORPORATION (Bristol Myers Squibb Company)
• AbbVie Inc.
• Sanofi
• Karyopharm
• Others
Industry Developments:
December 2019: The first clinical data released for BCMAxCD3 bispecific antibody, showed positive preliminary results for the treatment of multiple myeloma.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Multiple Myeloma - by Key Countries - 2018
- Pipeline Analysis
- Key Industry Developments
- Regulatory Scenario, by Key Regions
- Analysis Of Economic Burden of Multiple Myeloma Treatment
- New Product Launches
- Overview of Emerging Treatments for Multiple Myeloma
- Global Multiple Myeloma Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Proteasome Inhibitor
- Anti-CD38 Monoclonal Antibody
- Alkylating Agents
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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