The global multiple myeloma market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period. Myeloma is a cancer of plasma cells and majorly affects the kidney, bones, and blood cells. According to the Leukaemia & Lymphoma Society (LLS), an estimated 34,920 people living in the US is diagnosed with myeloma in 2021. The American Cancer Society estimates multiple myeloma in the US for 2023 and stated that about 35,730 new cases will be diagnosed in the US, among them 19,860 are men and 15,870 are women. About 12,590 mortalities are expected to occur by 2023, 7,000 in men and 5,590 in women. Dramatic advancements in new treatments, clinical trials, and new treatment approaches for myeloma are projected to drive market growth. For instance, in December 2022, a new drug modakafusp alfa was unveiled by researchers from the University of Pennsylvania’s Abramson Cancer Center. Patients in Phase I/II multicenter trials receiving 1.5 milligrams of modakafusp every four weeks, results in 43% decrease in cancer. Modakafusp is a fusion protein that targets interferon (a pro-inflammatory hormone that is also used for treating viral infections and other cancers) to cells that have CD38, a surface marker presents on myeloma cells and a variety of immune cells.
Additionally, the market players which include, Novartis, Pfizer, Sanofi, and others are inclined towards adopting various strategies such as partnership, collaboration, and funding to remain competitive in the global market. For instance, in March 2022, Sanofi and Blackstone announced a strategic, risk-sharing collaboration under which funds managed by Blackstone Life Sciences (BXLS) contribute up to $320million to accelerate the global pivotal studies and the clinical development program for the subcutaneous formulation and delivery of the anti-CD38 antibody Sarclisa, to treat patients with multiple myeloma (MM). moreover, in January 2021 AbbVie and Teneobio, Inc. announced that AbbVie exercised its exclusive right to acquire TeneoOne, an affiliate of Teneobio, Inc., and TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of relapsed or refractory multiple myeloma (R/R MM).
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Drug Class
- By Type
- By Distribution Channel
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- including Abbott Laboratories, Amgen Inc., GlaxoSmithKline plc, Merck & Co., Novartis AG, and Others.
Multiple Myeloma Market Report Segment
By Drug Class
- Immunomodulator
- Proteasome Inhibitor
- Anti-CD38 Monoclonal Antibody
- Alkylating Agents
- Others
By Type
- Hyperdiploid (HMM)
- Non-Hyperdiploid or hypodiploid
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
Multiple Myeloma Market Report Segment by Region
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
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