The Global Multiple Myeloma Therapeutics Market was worth $7.2 billion in 2016 and estimated to be growing at a CAGR of 4.8%, to reach $9.1 billion by 2021. Multiple myeloma majorly affects kidney, bone and blood. Patients suffering from multiple myeloma generally show several symptoms such as fatigue, loss of appetite, bone pain and increased urination. Numerous tests are executed in order to confirm the disease that contains bone marrow tests, urine tests and blood tests.
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Multiple Myeloma (MM) is a haematological malignancy considered by the propagation of plasma cells in the bone marrow. The disease is incurable; though over the few years there have been substantial developments in therapy, determined by a greater understanding of pathophysiology. Multiple myeloma is common among men as compared to women and also arises commonly with growing age.
The market for multiple myeloma therapeutics is anticipated to grow with increasing incidences of the disease among population. Growing geriatric population across the globe is absolutely augmenting the growth of multiple myeloma therapeutics market during the forecast period. However, various patients suffer decline or ripen treatment resistance which is acting as a restrain for the market and it becomes necessary to develop harmless and effective treatments that extend the duration of retardation and increase survival.
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The Global Multiple Myeloma Therapeutics Market is segmented based on the Treatment Type into Chemotherapy which is further segmented into Anthracycline Antibiotic (Melphalan (Alkeran), Liposomal doxorubicin (Doxil)) and Alkylating agent (Doxorubicin (Adriamycin), Cyclophosphamide (Neosar), Vincristine (Oncovin), Carmustine (BiCNU)) and Targeted Therapy ( Proteasome Inhibitor (Bortezomib (Velcade), Carfilzomib (Kyprolis)), by Drug Type into Corticosteroids (Dexamethasone (Decadron), Prednisone (Deltasone/Orasone)) and Immunomodulatory Agents (Thalidomide (Thalomid), Lenalidomide (Revlimid), Arsenic trioxide (Trisenox), Plerixafor (Mozobil)). With the advancement in technology targeted therapy is on a high growth due to its advantages over chemotherapy such as lesser side effects.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America dominated the market with highest revenue because of stability of key manufacturers in the region. Due to increase in geriatric population in the countries like China and India, Asia-Pacific is expected to witness highest growth rate in the forecast period.
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Some of the key contributors in the industry include AB Science SA, AbbVie Inc., Ablynx NV, Acceleron Pharma Inc., IGF Oncology LLC. , ImmunGene Inc., Millennium Pharmaceuticals Inc., MimiVax LLC, Mirna Therapeutics, RedHill Biopharma Ltd., Rhizen Pharmaceuticals S.A., Terpenoid Therapeutics Inc. ,Teva Pharmaceutical Industries Ltd. ,TG Therapeutics Inc. and Johnson and Johnson.
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