Multiple Myeloma Therapeutics Market

Multiple Myeloma Therapeutics Market – Overview

Multiple Myeloma is a type of blood cancer developing in the bone marrow and affecting the white blood cells of the plasma cells and is very rare among people. The white blood cells (WBCs) start growing haphazardly inside the bone marrow of the patient suffering from multiple myeloma therapeutics. The treatment process for multiple myeloma is a step by step process. Firstly, induction therapy is conducted after which, the stem cell transplantation is performed. In this second system, a machine helps to extract the stem cells of the patient for then storing and freezing. Post this procedure; the cells are then implanted back into the patient’s body. Some other techniques used as multiple myeloma therapeutics include chemotherapy that consists of velcade, Cytoxan, Adriamycin, alkeran, thalomid, and revlimid. No matter the type of treatment, proteasome inhibitors are always used for treating multiple myeloma in all its diagnostic stages. The increasing cases of various chronic diseases are a prime factor augmenting the growth of the global multiple myeloma therapeutics market.

The geriatric population is the most prey to multiple myeloma therapeutics market, owing to their physical weakness. Oncologists find it difficult to determine the correct dose suitable for the aged population, and therefore there is more need for targeted drugs like monoclonal antibodies and immunomodulation agents with less deteriorating impact on the health of the patient. The increasing prevalence of blood cancer among people worldwide is also projected to witness notable growth in the coming years.

The report on the global multiple myeloma therapeutics market offers an elaborate overview of the market and its prime growth trajectories. This includes drivers, restraints, challenges, and upcoming growth opportunities. Besides this, the report also mentions the table of segmentation, products and services in the market and the names of the leading segment as well. Additionally, the report also discusses the impact of the novel COVID19 pandemic on this market and how can players gain benefit from this market during this time by adopting various strategies. The list of players operating in this market and their key contributions in the form of innovations, collaborations, and joint ventures are also listed in the report.

Multiple Myeloma Therapeutics Market – Competitive Landscape

There is an intense competition among players of the global multiple myeloma therapeutics market. Players are focusing on establishing a diverse portfolio under their brand name in order to gain traction in the overall market competition. Besides this, other players are engaging in collaborative agreements and joint ventures to ensure significant growth rates in the coming years. On the other side, other players are running their pipeline candidates to indulge in better revenue generation for myeloma and its various types.

Some of the key players of the global Multiple Myeloma Therapeutics market include:

• Juno Therapeutics
• Genzyme Corporation
• Amgen Inc.
• Millennium Pharmaceuticals
• Novartis AG
• Bristol-Myera Squibb Company
• Jansen Biotech Inc.
• Other players

Multiple Myeloma Therapeutics Market – Innovation

• Two therapeutic products namely Pomalidomide and Dexamerhasone were declared to be approved by the U.S. Food and Drug Administration on March 2020. Both of them will be used for treating adults with myeloma who have already undergone the previous two therapies with proteasome inhibitor and lenalidomide.

Multiple Myeloma Therapeutics Market – Growth Drivers

The increasing prevalence of various blood cancer types stands as a key factor boosting the global multiple myeloma therapeutics market. This is very common amongst the geriatric population as they are more vulnerable to various chronic diseases. Besides this, the rising number of research and development activities and the positive treatment rates will further aid in expansion of this market. On the contrary, the rise in treatment cost may pose a serious challenge to the growth of this market during the forecast period.

Multiple Myeloma Therapeutics Market – Geographical Insights

Geographically, North America holds the highest shares in the market on account of the increasing prevalence of multiple myeloma in the established nations, coupled with the rising demand for treatment and government-supported initiatives. Europe and Asia Pacific will witness significant growth rates owing to increasing number of pipeline candidates and rising number of upcoming launches.