Multiple Myeloma Drugs Market to Reach US $29.44 Billion by 2029
Multiple Myeloma Drugs Global Market Report 2025
The Business Research Company's Multiple Myeloma Drugs Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
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What Is The Estimated Industry Size Of Multiple Myeloma Drugs Market?
The market for multiple myeloma drugs has experienced robust expansion in the past few years. Its size is predicted to increase from $21.84 billion in 2024 to $23.03 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.4%. Factors contributing to this growth during the historical period include enhanced diagnostic processes, successful clinical trials, a better understanding of disease biology, advancements in healthcare infrastructure, patient representation, and increased awareness.
There is an anticipation for significant expansion in the multiple myeloma drugs market in the upcoming years, reaching a worth of ""$29.44 billion by 2029 with a CAGR of 6.3%. This predicted growth within the projected period is a result of advancements in immunotherapy, wider application of targeted therapies, utilization of liquid biopsies, breakthroughs in car-t cell therapy, and the discovery of biomarkers. Key trends to observe during the forecast period include a heightened focus on long-term survivorship, the investigation of epigenetic therapies, the growing influence of telemedicine, broader availability of novel therapies, and maintaining sustainability in myeloma care.
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What Are The Major Factors Driving The Multiple Myeloma Drugs Global Market Growth?
The rising instances of blood-related cancer are poised to propel the expansion of the multiple myeloma drugs market. These hematological malignancies originate in blood-forming tissue, like bone marrow, or immune system cells, including diseases like leukemia, lymphoma, multiple myeloma, and so on. Various myeloma is often addressed with multiple myeloma drugs, which work by destroying cancer cells and inhibiting their growth, stimulating several enzymatic activities, helping maintain bone strength, and alleviating pain in deteriorating bones. To illustrate, the American Cancer Society (ACS), a US-based health body committed to the eradication of cancer, stated in January 2023 that around 59,610 leukemia cases and about 20,380 acute myeloid leukemia (AML) cases were newly diagnosed. Also, there were 23,710 deaths ascribed to leukemia. Consequently, this escalating prevalence of hematological cancer contributes to the growth of the multiple myeloma drugs market.
Who Are The Leading Companies In The Multiple Myeloma Drugs Market?
Major players in the Multiple Myeloma Drugs include:
• Pfizer Inc.
• Johnson & Johnson Pvt. Ltd
• Merck & Co. Inc.
• AbbVie Inc.
• Bayer AG.
• Roche Holding AG
• Novartis AG
• Sanofi S.A.
• Bristol-Myers Squibb Company
• GlaxoSmithKline Plc
What Are The Prominent Trends In The Multiple Myeloma Drugs Market?
A significant trend in the multiple myeloma drugs market is product innovation, as major companies focus on introducing unique products to solidify their standing and secure a competitive edge. An example of this is Janssen Biotech Inc., a biotechnology firm based in Japan, which earned approval from the United States Food and Drug Administration for its product, Carvykti, in March 2022. Carvykti is a CAR T-Cell therapy (personalized immunotherapy) developed for multiple myeloma. Detailed as Ciltacabtagene autoleucel, Carvykti is a genetically modified product based on autologous cells, transduced ex vivo with a vector encoding an anti-B cell maturation antigen (BCMA) chimeric antigen receptor (CAR). This is made up of two single-domain antibodies tied to a 4-1BB costimulatory domain and a CD3-zeta signaling domain. This treatment is available to patients who have undergone a minimum of four lines of therapy, which include three important types of multiple myeloma medicines - an immunomodulating agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody, for their relapsed conditions.
What Are The Primary Segments Covered In The Global Multiple Myeloma Drugs Market Report?
The multiple myeloma drugs market covered in this report is segmented –
1) By Drug Type: Immunomodulatory Drugs, Proteasome Inhibitors, Histone Deacetylase Inhibitors, Monoclonal Antibody Drugs, Steroids, Other Drug Types
2) By Therapy: Targeted Therapy, Biologic Therapy, Chemotherapy, Other Therapies
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Other Distribution Channels
4) By End-User: Men, Women
Subsegments:
1) By Immunomodulatory Drugs: Lenalidomide, Thalidomide, Pomalidomide
2) By Proteasome Inhibitors: Bortezomib, Carfilzomib, Ixazomib
3) By Histone Deacetylase Inhibitors: Panobinostat, Romidepsin
4) By Monoclonal Antibody Drugs: Daratumumab, Elotuzumab, Isatuximab
5) By Steroids: Dexamethasone, Prednisone
6) By Other Drug Types: Alkylating Agents, Antimetabolites, New Experimental Drugs
View the full multiple myeloma drugs market report:
https://www.thebusinessresearchcompany.com/report/multiple-myeloma-drugs-global-market-report
Which Region Is Forecasted To Grow The Fastest In The Multiple Myeloma Drugs Industry?
In 2024, North America stood as the leading region in the multiple myeloma drugs market. The market report for multiple myeloma drugs covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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