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Press Release

Multiple Myeloma Therapeutics Market To Be Worth $37.5 Billion By 2024: Grand View Research, Inc.

Grand View Research
Posted on: 29 Nov 16

SAN FRANCISCO, November 29, 2016 /PRNewswire/ --

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.

Browse full research report with TOC on "Multiple Myeloma Therapeutics Market Analysis, By Therapy Type (Chemotherapy And Other Drugs, Radiation, Stem Cell Transplant, Other Supportive Treatments), And Segment Forecasts, 2014 - 2024" at: http://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 myeloma are 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

Browse related reports by Grand View Research: 

Bone Morphogenetic Proteins (BMP) Market- http://www.grandviewresearch.com/industry-analysis/bone-morphogenetic-proteins-market

Biotechnology Reagents Market - http://www.grandviewresearch.com/industry-analysis/biotechnology-reagent-market

Pharmaceutical Manufacturing Market- http://www.grandviewresearch.com/industry-analysis/pharmaceutical-manufacturing-market

Inhalable Drugs Market - http://www.grandviewresearch.com/industry-analysis/inhalable-drugs-market

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

Traditional chemotherapy

Immunomodulating agents

Proteasome inhibitors

Histone Deacetylase (HDAC) inhibitors

Monoclonal antibodies

Radiation

Stem cell transplant and supportive treatments

Multiple Myeloma Therapeutics Regional Outlook (Revenue, USD Billion, 2014 - 2024) North America

U.S.

Canada

Europe

UK

Germany

Asia Pacific

Japan

India

Latin America

Brazil

Mexico

Middle East and Africa

South Africa

Access research insight: http://www.grandviewresearch.com/research-insights/multiple-myeloma-therapeutics-market-immunotherapy

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Read Our Blogs - http://www.grandviewresearch.com/blogs/healthcare

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com

Web: http://www.grandviewresearch.com  

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 29/11/2016

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