Research Nester released a report titled “Multiple Myeloma Treatment Drugs Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global multiple myeloma treatment drugs market in terms of market segmentation by drug class, therapy, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The multiple myeloma treatment drugs market is projected to grow at a robust CAGR during the forecast period, i.e., 2021-2029. Despite of being a comparatively rare condition, the patient-pool of multiple myeloma is assessed to increase significantly in the coming years, leading to boost the market growth. As per our analysis, more than 34,000 adults in the U.S.A are expected to be diagnosed with multiple myeloma cancer in 2021, rising up from 32,200 incidences in 2020.
On the basis of drug class, the global multiple myeloma treatment drugs market is segmented into immmunomodulatory drugs (IMiDs), proteasome inhibitors, steroids, monoclonal antibodies, and others. The segment for IMiDs is anticipated to hold the largest share in the market in the year 2021 as a result of their high success in showing positive treatment rates.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region, out of which, the market in North America is projected to grow at the highest rate and occupy the largest market share in the year 2021. This can be credited to prominent technological advancements with respect to multiple myeloma treatment, the presence of leading drug manufacturers and high adoption of sophisticated cancer treatments in the region.
Increasing Occurrence of Multiple Myeloma
Numerous researches from several external sources reveal that the total number of deaths from multiple myeloma is expected to grow from 2021 onwards. This increasing number of cases is associated with the rise in number of blood cancer cases in general. Apart from this, growing demand for multiple myeloma therapies, along with the surge in the number of people suffering from obesity, which is also one of the primary causes of cancer, are some of the additional factors projected to drive the market growth.
However, the high cost of multiple myeloma treatment and lack of awareness about cancer treatment in low-income economies are some of the factors estimated to limit the progress of the market.
This report also provides the existing competitive scenario of some of the key players of the global multiple myeloma treatment drugs market which includes company profiling of Bristol-Myers Squibb Company (NYSE: BMY), Amgen Inc. (NASDAQ: AMGN), Johnson & Johnson Services, Inc. (NYSE: JNJ), Merck Sharp & Dohme Corp. (NYSE: MRK), Daiichi Sankyo Company, Limited (TYO: 4568), Pfizer Inc. (NYSE: PFE), F. Hoffmann-La Roche Ltd (SWX: RO), Sanofi-aventis Groupe (EPA: SAN), Novartis International AG (SWX: NOVN), and Pharma Mar, S.A. (BME: PHM). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global multiple myeloma treatment drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.