San
Francisco, 12 November 2018 , The global multiple myeloma therapeutics market was valued at USD
7.5 billion in 2015 and is expected to reach a value of USD 37.5 billion by
2024. Key factors driving the market expansion include constant introduction of
newer and effective therapeutic options and high adoption rates of the same.
This space is expected to gain momentum
with the addition of novel drugs to the current therapeutics array with
monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors. Due to failed
outcomes of the currently available medication, there is a high demand for
effective treatment strategies to offset therapeutic dissatis faction and
increase life expectancies of patients; which in turn is expected to boost the
research and development of improved therapies for multiple myeloma.
Growing prevalence of the disease along
with the surging elderly population is the prime factor expected to drive the
growth significantly during the forecast period. Complications involved in
treating geriatric patients are driving the demand for supportive treatments
such as restoration procedures involving transfusion of blood components and
point of care technologies.
The U.S, followed by Europe, has been
dominating the market owing to the presence of major players in these regions,
faster approval rates, and favorable healthcare policies. Higher prevalence of
multiple myeloma in the developed economies is a pivotal determinant driving
the growth of the Europe market.
The space consists of a few major players
including Celgene Corporation, Janssen Biotech, Inc., Bristol-Myers Squibb
Company, and Novartis AG. A large revenue share is captured by Celgene
Corporation with its high-performing drug, Revlimid. The drug currently
dominates the market with more than 50% share of the total multiple myeloma
therapeutics market.
Full Research Report On Multiple
Myeloma Therapeutics Market Analysis:www.grandviewresearch.com/industry-analysis/multiple-myeloma-therapeutics-market
Further
Key Findings from the Study Suggest:
·
According to the National Cancer Institute,
more than 30,330 new cases of multiple myelomaare expected to register in 2016.
The number of new cases is expected to grow each year with the growing
geriatric population.
·
Newly introduced drugs are expected to
increase the longevity of patients undergoing treatment for multiple myeloma,
which yields a high cumulative number of patients requiring treatment each
year.
·
In 2015, the chemotherapy and other drugs
segment dominated the global space with largest revenue share owing to lack of
effective alternative option.
·
Chemotherapy and other drugs segment has
been sub-segmented into traditional chemotherapy, immunomodulating agents,
protea some inhibitors, HDAC inhibitors, and monoclonal antibodies.
·
In 2015, immunomodulating agents drug class
captured the largest market share. Absence of comparable alternatives is the
prime factor driving the growth of the segment
·
The newly introduced drugs belonging to the
classes HDAC inhibitors and monoclonal antibodies are expected to show the
fastest growth during the forecast period owing to the effectiveness and safety
of these drugs
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Grand View Research has segmented the multiple myeloma
therapeutics market by product and region:
Multiple Myeloma Therapeutics Type
Outlook (Revenue, USD Billion, 2014 - 2024)
·
Chemotherapy and other drugs
o
Traditional chemotherapy
o
Immunomodulating agents
o
Proteasome inhibitors
o
Histone Deacetylase (HDAC) inhibitors
o
Monoclonal antibodies
·
Radiation
·
Stem cell transplant and supportive
treatments
Multiple Myeloma Therapeutics Regional
Outlook (Revenue, USD Billion, 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
Access Full
Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-multiple-myeloma-therapeutics-market
https://www.grandviewresearch.com/press-release/global-multiple-myeloma-therapeutics-market
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