Global Multiple Myeloma Market

Multiple Myeloma Market Size, Share, Growth Analysis, By Therapy(Targeted Therapy, Biologic Therapy, Chemotherapy, Others), By Drug type(Immunomodulatory Drugs, Proteasome Inhibitors, Histone Deacetylase Inhibitors, Monoclonal Antibody Drugs), By Distribution channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35I2293 | Region: Global | Published Date: April, 2024
Pages: 157 |Tables: 94 |Figures: 76

Multiple Myeloma Market Insights

Multiple Myeloma Market size was valued at USD 23.53 billion in 2019 and is poised to grow from USD 25.06 billion in 2023 to USD 44.17 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

Multiple myeloma is a critical type of blood cancer that mostly targets plasma cells. It is an uncommon form of cancer. The number of diagnoses among patients is rising as a result of growing awareness of disease symptoms. As a result, several potentially blockbuster medications were introduced, and the treatment expertise of the leading Multiple Myeloma Market competitors increased. As per the Globocan 2020 information sheet, there were an expected 19,292,789 new cancer cases, with about 9,958,133 cancer-related deaths.

Furthermore, the International Agency for Research on Cancer (IARC) predicts that by 2031, the worldwide incidence of cancer will have increased to 27.5 million new cases and 16.3 million deaths. In the entire world, men are around 1.5 times more likely to have it than women. Although no single risk factor has been linked to multiple myeloma, suggested underlying causes include differences in health-risk behaviors like smoking and alcohol consumption as well as higher rates of obesity among males. The disease is more prevalent among the age group of older adults with median age i.e., between the age range 55 to 65 years.

Additionally, rising incidence rates of hematological cancer and rising demand for healthcare infrastructure, research, and treatment are the main drivers of the multiple myeloma market. Low treatment rates in developing countries are a limiting factor to the market expansion for the global multiple myeloma market.

US Multiple Myeloma Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 23.53 billion

Largest Segment

Hospital Pharmacies

Fastest Growth

Hospital Pharmacies

Growth Rate

6.5% CAGR

Global Multiple Myeloma Treatment Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Multiple Myeloma Market Segmental Analysis

Global multiple myeloma market is segmented by Therapy, Drug Type, Distribution Channel and Region. On the basis of therapy, the Multiple Myeloma Market is segmented into targeted therapy, biologic therapy, chemotherapy, others. On the basis of drug type, the Multiple Myeloma Market is segmented into immunomodulatory drugs, proteasome inhibitors, histone deacetylase inhibitors, monoclonal antibody drugs, steroids, and others. On the basis of Distribution channels, the Multiple Myeloma Market is segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. On the basis of Region, the Global Multiple myeloma market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Multiple Myeloma Market Analysis by Therapy

On the basis of therapy, the Multiple Myeloma Market is segmented into targeted therapy, biologic therapy, chemotherapy, and others. Among these, targeted therapy and chemotherapy are the most common types of treatments followed in any type of cancer due to the effectiveness and accuracy of these treatments. Biologic therapy is preferred in trace percentage due to its high cost of treatment.

Multiple Myeloma Market Analysis by Drug Type

On the basis of drug type, the Multiple Myeloma Market is segmented into immunomodulatory drugs, proteasome inhibitors, histone deacetylase inhibitors, monoclonal antibody drugs, steroids, and others. Oral immunomodulators, for example, are thought to be incredibly effective in improving the course of treatment for a variety of cancers and are regarded to be a developing therapy. As a result of these medications' high revenue positions, the immunomodulators category held a disproportionately large part of the global market. Immunomodulators, such as Revlimid by CELGENE CORPORATION (Bristol Myers Squibb Company), have played a significant role in this market segment's supremacy worldwide.

Due to the large variety of product options, the proteasome inhibitor market segment also holds a sizable portion of the overall market. One of the crucial medicines discussed in this section is the significant medication Velcade. The fact that Anti CD38 Monoclonal Antibody provides a product line that includes Darzalex (daratumumab).

Multiple Myeloma Market Analysis by Distribution Channel

On the basis of Distribution channels, the Multiple Myeloma Market is segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. Higher Intravenous Therapeutics Administration will allow Hospital Pharmacies to dominate the market. The fact that the pharmaceuticals used in treatment can be frequently prescribed and administered in hospital settings is one of the main factors contributing to this segment's dominance. This permits both the proper and safe administration of life-saving medications, some of which must be supplied intravenously, as well as the proper and safe adherence to treatment guidelines for multiple myeloma. Positive therapeutic outcomes are frequently possible with such efficient treatment.

Despite the availability of Revlimid, the retail pharmacy category is forecast to grow at a somewhat slower rate because there are fewer oral medicines utilized in therapy and this is the cause this segment's growth to be more restrained during the predicted year. The category of online pharmacies is predicted to grow at a faster rate due to the comfort and ease with which people can complete their prescription.

Global Multiple Myeloma Treatment Market By Distribution Channel, 2021 (%), 2023 (%)

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Multiple Myeloma Market Regional Insights

Geographically, North America is projected to account for the highest proportion of the global Multiple Myeloma Market for multiple myeloma treatments due to significant growth in the incidence of the disease, high awareness of the need for early cancer detection and treatment, favorable reimbursement policies, and an advanced healthcare system. Due to its quicker approval times, favorable healthcare laws, and concentration of big businesses, Europe has been leading the market for multiple myeloma treatments. Multiple myeloma is more common in developed nations, which is fueling the expansion of the European market.

Due to increased awareness of cancer diagnoses and improving healthcare infrastructure, Asia-Pacific is predicted to experience exponential expansion. High accessibility to current technology is also a result of these factors. Additionally, things like enhanced healthcare and expanded healthcare infrastructure reimbursement policies are responsible for the growth of the multiple myeloma treatment market in the Middle East and Africa.

Global Multiple Myeloma Treatment Market By Geography, 2021 - 2028, 2024-2031
  • Largest
  • Fastest

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Multiple Myeloma Market Dynamics

Multiple Myeloma Market Driver

  • The use of monoclonal antibodies with a high safety profile to attack myeloma cells. The development of nanomedicine platforms, the increased use of microRNA therapies, and the ongoing development of efficient and safe medications are all contributing to the growth of the multiple myeloma market. When monoclonal antibodies and histone deacetylase (HDAC) inhibitors are added to the current treatment options, the medication market is expected to grow. Clinicians prefer biologic therapy with monoclonal antibodies such as Darzalex and Empliciti due to their well-documented clinical profile.
  • Hematological cancer is becoming more common. The rate of expansion of the multiple myeloma market is predicted to be accelerated by the rising incidence of hematological malignancy called multiple myeloma is brought on by particular genetic flaws. Medications that alter the immune system are used to treat the illness and increase the effectiveness of stem cell transplants, radiation therapy, chemotherapy, and platelet transfusions to drive the market growth.
  • The increasing cost of healthcare contributes to the infrastructure of the multiple myeloma market, which is another important element driving its growth rate. The market for multiple myeloma will also grow as the elderly population grows and as the number of fat people rises.

Multiple Myeloma Market Restraint

  • Low treatment rates in emerging nations due to the high cost of multiple myeloma treatment would hinder the market's growth pace. Multiple myeloma will face challenges from a lack of skilled workers and a lack of healthcare infrastructure in developing nations. Additionally, a decrease in clinical visits brought on by the COVID-19 outbreak and a lack of public awareness may constrain and impede the market's growth rate throughout the projection period.

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Multiple Myeloma Market Competitive Landscape

The global Multiple myeloma market is highly competitive. As a result, the global Multiple myeloma market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and technology.

Multiple Myeloma Market Top Players Company Profiles

  • Sanofi
  • Novartis AG
  • Takeda Pharmaceutical Company Limited
  • Celgene Corporation (a subsidiary of Bristol-Myers Squibb)
  • Amgen Inc.
  • Johnson & Johnson
  • AbbVie Inc.
  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson)
  • Bristol-Myers Squibb Company
  • Merck & Co., Inc.
  • Onyx Pharmaceuticals (a subsidiary of Amgen Inc.)
  • Millennium Pharmaceuticals (a subsidiary of Takeda Pharmaceutical Company Limited)
  • Spectrum Pharmaceuticals, Inc.
  • Karyopharm Therapeutics Inc.
  • Genmab A/S
  • Servier Pharmaceuticals LLC
  • AbbVie Biotechnology Ltd. (a subsidiary of AbbVie Inc.)
  • Janssen-Cilag International N.V. (a subsidiary of Johnson & Johnson)

Multiple Myeloma Market Recent Developments

  • In July 2022, Bristol-Myers Squibb Shares were Purchased by Great Valley Advisor Group Inc. number of other large investors have also recently added to or reduced their stakes in the business. Sanders Morris Harris LLC boosted its position in shares of Bristol-Myers Squibb by 0.3% during the 1st quarter.
  • In June 2022, Johnson & Johnson and Pfizer both highlighted new data with BCMA-targeting bispecific antibodies in patients with relapsed or refractory multiple myeloma (RRMM) at ASCO, previewing a future rivalry if they get regulatory approval.

Multiple Myeloma Key Market Trends

  • A rise in research and development activities is driving the expansion of the multiple myeloma market. This will present advantageous chances for the expansion of the multiple myeloma market. Along with this, an increase in drug releases and approvals will speed up the market's expansion. The introduction of monoclonal antibodies (mAbs), such as Empliciti and Darzalex, will present a significant growth opportunity for the market because they will not only give patients with multiple myeloma a new therapeutic option, but also increase the interval between relapses, extending the effectiveness of Revlimid and Velcade treatments. These patients will also have access to the second-generation proteasome inhibitors Ninlaro and Kyprolis, broadening their range of treatment options. The market and industry, which are currently under the control of Revlimid, an immunomodulator, and Velcade, a proteasome inhibitor.

Multiple Myeloma Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by robust secondary desk research.

According to our analysis, the region of North America has a lead over other regions, dominance of North America can be attributed to significant growth in the incidence of the disease, high awareness of the need for early cancer detection and treatment, favorable reimbursement policies, and an advanced healthcare system. On the other hand, based on the segmentation, the segment of targeted therapy and chemotherapy acquired a larger market share due to the effectiveness of treatment. According to Drug Type, the immunomodulatory drug segment is expected to hold larger share of market attributed to their broad-spectrum effectiveness.

Report Metric Details
Market size value in 2023 USD 23.53 billion
Market size value in 2031 USD 44.17 billion
Growth Rate 6.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Therapy
    • Targeted Therapy, Biologic Therapy, Chemotherapy, Others
  • Drug type
    • Immunomodulatory Drugs, Proteasome Inhibitors, Histone Deacetylase Inhibitors, Monoclonal Antibody Drugs, Steroids, Others
  • Distribution channel
    • Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Sanofi
  • Novartis AG
  • Takeda Pharmaceutical Company Limited
  • Celgene Corporation (a subsidiary of Bristol-Myers Squibb)
  • Amgen Inc.
  • Johnson & Johnson
  • AbbVie Inc.
  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson)
  • Bristol-Myers Squibb Company
  • Merck & Co., Inc.
  • Onyx Pharmaceuticals (a subsidiary of Amgen Inc.)
  • Millennium Pharmaceuticals (a subsidiary of Takeda Pharmaceutical Company Limited)
  • Spectrum Pharmaceuticals, Inc.
  • Karyopharm Therapeutics Inc.
  • Genmab A/S
  • Servier Pharmaceuticals LLC
  • AbbVie Biotechnology Ltd. (a subsidiary of AbbVie Inc.)
  • Janssen-Cilag International N.V. (a subsidiary of Johnson & Johnson)
Customization scope

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  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Multiple Myeloma Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Multiple Myeloma Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Multiple Myeloma Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Multiple Myeloma Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Multiple Myeloma Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Multiple Myeloma Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Multiple Myeloma Market size was valued at USD 23.53 billion in 2019 and is poised to grow from USD 25.06 billion in 2023 to USD 44.17 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

The Multiple myeloma market is highly competitive. As a result, the Multiple myeloma market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and technology. 'Sanofi', 'Novartis AG', 'Takeda Pharmaceutical Company Limited', 'Celgene Corporation (a subsidiary of Bristol-Myers Squibb)', 'Amgen Inc.', 'Johnson & Johnson', 'AbbVie Inc.', 'GlaxoSmithKline plc', 'Pfizer Inc.', 'Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson)', 'Bristol-Myers Squibb Company', 'Merck & Co., Inc.', 'Onyx Pharmaceuticals (a subsidiary of Amgen Inc.)', 'Millennium Pharmaceuticals (a subsidiary of Takeda Pharmaceutical Company Limited)', 'Spectrum Pharmaceuticals, Inc.', 'Karyopharm Therapeutics Inc.', 'Genmab A/S', 'Servier Pharmaceuticals LLC', 'AbbVie Biotechnology Ltd. (a subsidiary of AbbVie Inc.)', 'Janssen-Cilag International N.V. (a subsidiary of Johnson & Johnson)'

The use of monoclonal antibodies with a high safety profile to attack myeloma cells. The development of nanomedicine platforms, the increased use of microRNA therapies, and the ongoing development of efficient and safe medications are all contributing to the growth of the multiple myeloma market. When monoclonal antibodies and histone deacetylase (HDAC) inhibitors are added to the current treatment options, the medication market is expected to grow. Clinicians prefer biologic therapy with monoclonal antibodies such as Darzalex and Empliciti due to their well-documented clinical profile.

A rise in research and development activities is driving the expansion of the multiple myeloma market. This will present advantageous chances for the expansion of the multiple myeloma market. Along with this, an increase in drug releases and approvals will speed up the market's expansion. The introduction of monoclonal antibodies (mAbs), such as Empliciti and Darzalex, will present a significant growth opportunity for the market because they will not only give patients with multiple myeloma a new therapeutic option, but also increase the interval between relapses, extending the effectiveness of Revlimid and Velcade treatments. These patients will also have access to the second-generation proteasome inhibitors Ninlaro and Kyprolis, broadening their range of treatment options. The market and industry, which are currently under the control of Revlimid, an immunomodulator, and Velcade, a proteasome inhibitor.

Geographically, North America is projected to account for the highest proportion of the Multiple Myeloma Market for multiple myeloma treatments due to significant growth in the incidence of the disease, high awareness of the need for early cancer detection and treatment, favorable reimbursement policies, and an advanced healthcare system. Due to its quicker approval times, favorable healthcare laws, and concentration of big businesses, Europe has been leading the market for multiple myeloma treatments. Multiple myeloma is more common in developed nations, which is fueling the expansion of the European market.

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