Multiple Myeloma Diagnostics Market is projected to reach US$ 32.91 billion by 2032
During the forecast period, the multiple myeloma diagnostics market is expected to grow at a promising CAGR of 10.3%. The market is currently worth US$ 13.62 billion and is expected to grow to US$ 32.91 billion by 2032.
Multiple plasma cells aid in the fight against numerous illnesses, however the accumulation of malignant plasma cells in bone marrow limits the basic activity of a plasma cell. The antibody protein “M” derived from malignant plasma cells destroys bone, forms tumours, damages the kidneys, and impairs immunological function. As the prevalence of these diseases rises, so does the demand for multiple myeloma diagnostics.
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Advent of Telehealth and Virtual Care to Create Tailwind for the Multiple Myeloma Diagnostics Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Multiple Myeloma Diagnostics market.
Key Multiple Myeloma Diagnostics Market Takeaways and Projections
- The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
- Germany Multiple Myeloma Diagnostics market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.
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Report Benefits & Key Questions Answered
- Multiple Myeloma Diagnostics Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Multiple Myeloma Diagnostics market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
- Multiple Myeloma Diagnostics Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Multiple Myeloma Diagnostics market. As per the survey, Multiple Myeloma Diagnostics sales will project steady growth over the forecast period.
- Multiple Myeloma Diagnostics Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Multiple Myeloma Diagnostics market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Multiple Myeloma Diagnostics Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Multiple Myeloma Diagnostics market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Multiple Myeloma Diagnostics market.
Some of the prominent market players are profiled by FMI are:
Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Genzyme Corporation, Celgene Corporation, Millennium Pharmaceuticals, Norvartis AG, Amgen Inc, Juno Therapeutics, Janssen Biotech Inc, Johnson & Johnson, GlaxoSmithKline plc, Pfizer, AbbVie Inc, Onyx Pharmaceuticals, Celldex Theapeutics Inc and Innate Pharma SA
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- North America
- East Asia
- South Asia
- Middle East and Africa
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